3 Bed Semi-Detached House, Refurb/BRRR, Morecambe, LA3 1JE, £175,000

Lordsome Road, Morecambe, Lancashire, LA3 1JE - 10 days ago

Motivated
Refurb/BRRR
ROI: 2%
~93 m²
+13 photos

ValuationOvervalued

Sold Prices£95K - £295K
Sold Prices/m²£1K/m² - £3.1K/m²

 

 

Square Metres

~93 m²
Price/m²£1.9K/m²

Value Estimate

£140,137

 

 

End Value (After Refurb)

£167,750

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£43,750

Stamp Duty & Legal Fees

£9,950

Refurb Costs

£37,600

Bridging Loan Interest

£4,594

Total Cash In

£97,644

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£167,750

Mortgage (After Refinance)

£125,813

Mortgage LTV

75%

Cash Left In

£97,644

Equity

£41,938

Rent Range

£750 - £950

Rent Estimate

£871

Running Costs/mo

£718

Cashflow/mo

£153

Cashflow/yr

£1,831

ROI

2%

Gross Yield

6%

Local Sold Prices

51 sold prices from £95K to £295K, average is £135K. £1K/m² to £3.1K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£215K11/210 mi41, Lordsome Road, Heysham, Morecambe, Lancashire LA3 1JE3
£133K06/210.06 mi41, Harewood Avenue, Heysham, Morecambe, Lancashire LA3 1JH3
£143K10/210.07 mi42, Harewood Avenue, Heysham, Morecambe, Lancashire LA3 1JQ3
£120K03/210.08 mi52, Lordsome Road, Heysham, Morecambe, Lancashire LA3 1JB3
£130.2K06/210.08 mi22, Lordsome Road, Heysham, Morecambe, Lancashire LA3 1JB3
£295K11/210.12 mi8, St Johns Grove, Heysham, Morecambe, Lancashire LA3 1ET3
£170K08/230.14 mi18, Woodlands Drive, Heysham, Morecambe, Lancashire LA3 1LZ3
£210K05/210.15 mi1, Woodlands Grove, Heysham, Morecambe, Lancashire LA3 1NF3
£250K10/220.15 mi152, Balmoral Road, Morecambe, Lancashire LA3 1HW3
£110K07/210.15 mi3, Balmoral Avenue, Heysham, Morecambe, Lancashire LA3 1JU3
£125K04/210.17 mi34, Maple Avenue, Heysham, Morecambe, Lancashire LA3 1HZ3
£167K01/230.17 mi44, Maple Avenue, Heysham, Morecambe, Lancashire LA3 1HZ3
£128.5K04/210.17 mi7, Hampton Road, Heysham, Morecambe, Lancashire LA3 1EJ3
£129K02/210.17 mi42, Kings Crescent, Heysham, Morecambe, Lancashire LA3 1HX3
£160K08/210.17 mi145, Balmoral Road, Morecambe, Lancashire LA3 1HN3
£95K10/210.19 mi1, Myrtle Grove, Heysham, Morecambe, Lancashire LA3 1HT3
£170K12/200.19 mi67, Fairfield Road, Heysham, Morecambe, Lancashire LA3 1ES3
£138K02/230.19 mi1, Myrtle Grove, Heysham, Morecambe, Lancashire LA3 1HT3
£115K11/200.2 mi153, Fairfield Road, Heysham, Morecambe, Lancashire LA3 1LR3
£185K12/210.21 mi82, Norton Road, Heysham, Morecambe, Lancashire LA3 1PG3
£250K12/220.21 mi70, Norton Road, Heysham, Morecambe, Lancashire LA3 1PG3
£182K06/210.21 mi4, Norton Grove, Heysham, Morecambe, Lancashire LA3 1PQ3
£220K11/220.23 mi34, Woodlands Drive, Heysham, Morecambe, Lancashire LA3 1NA3
£95K12/200.23 mi33, Limes Avenue, Heysham, Morecambe, Lancashire LA3 1HS3
£165K01/230.23 mi24, Limes Avenue, Heysham, Morecambe, Lancashire LA3 1HS3
£237.5K06/210.24 mi67, Norton Road, Heysham, Morecambe, Lancashire LA3 1PF3
£112.5K02/210.24 mi56, Granville Road, Heysham, Morecambe, Lancashire LA3 1ED3
£122.5K07/210.24 mi58, Granville Road, Heysham, Morecambe, Lancashire LA3 1ED3
£128.5K06/230.24 mi58, Granville Road, Heysham, Morecambe, Lancashire LA3 1ED3
£128.5K06/230.24 mi58, Granville Road, Heysham, Morecambe, Lancashire LA3 1ED3
£154.4K04/210.25 mi12, Barnes Road, Heysham, Morecambe, Lancashire LA3 1UW3
£184.5K11/200.25 mi37, Norton Road, Heysham, Morecambe, Lancashire LA3 1HA3
£128K05/230.25 mi46, Hampton Road, Heysham, Morecambe, Lancashire LA3 1EL3
£122.5K06/210.25 mi28, Harrington Road, Heysham, Morecambe, Lancashire LA3 1EN3
£195K01/230.26 mi154, Fairfield Road, Heysham, Morecambe, Lancashire LA3 1LS3
£112K11/200.27 mi34, Stanley Road, Heysham, Morecambe, Lancashire LA3 1UR3
£130K06/210.27 mi58, Stanley Road, Heysham, Morecambe, Lancashire LA3 1UR3
£134K04/230.27 mi54, Stanley Road, Heysham, Morecambe, Lancashire LA3 1UR3
£97.5K11/200.27 mi28, Granville Road, Heysham, Morecambe, Lancashire LA3 1EB3
£103K04/210.27 mi52, Granville Road, Heysham, Morecambe, Lancashire LA3 1EB3
£130K10/220.27 mi52, Granville Road, Heysham, Morecambe, Lancashire LA3 1EB3
£127K04/210.29 mi4, Cumberland View Close, Heysham, Morecambe, Lancashire LA3 1HG3
£140K01/210.29 mi4, Clevelands Avenue, Morecambe, Lancashire LA3 1SX3
£160K03/230.3 mi21, Byron Road, Heysham, Morecambe, Lancashire LA3 1UH3
£106K12/200.31 mi30, Avondale Road, Heysham, Morecambe, Lancashire LA3 1SR3
£135K05/230.31 mi22, Avondale Road, Heysham, Morecambe, Lancashire LA3 1SR3
£194K07/210.32 mi10, Rydal Road, Heysham, Morecambe, Lancashire LA3 1DT3
£165K01/210.32 mi20, Clevelands Grove, Morecambe, Lancashire LA3 1SY3
£113K03/230.32 mi52, Brunswick Road, Heysham, Morecambe, Lancashire LA3 1UG3
£175K03/230.33 mi26, Mears Beck Close, Heysham, Morecambe, Lancashire LA3 1UX3
£169.9K12/220.33 mi8, Osborne Crescent, Morecambe, Lancashire LA3 1SZ3

Local Rents

13 rents from £750/mo to £950/mo, average is £899/mo.

RentDateDistanceAddressBeds 
£85004/240.19 miWoodlands Drive, Heysham, Morecambe3
£89505/240.25 miHampton Road, Heysham3
£95004/240.31 miCumberland View Road, Heysham, Morecambe3
£75012/230.42 mi-3
£77507/240.53 miBalmoral Road, Morecambe, Lancashire, LA43
£95008/240.53 miChatsworth Road, Morecambe, Lancashire, LA43
£95005/240.55 miClarendon Road, Morecambe3
£89908/240.56 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.56 miAlbert Road, Morecambe, Lancashire, LA43
£75005/240.56 miWest End, Morecambe, LA43
£75005/240.56 miWest End, Morecambe, LA43
£95008/240.57 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.57 miChatsworth Road, Morecambe, Lancashire, LA43

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

1.23 miles away

Nearest school

0.20 miles away

Nearest train station

1.02 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £175,000

March 26, 2025

Floor Plans

Description

  • Freehold - Council Tax Band B +
  • Requires some renovation +
  • Some radiators and carpets required +
  • New bath & toilet +
  • Fitted wardrobes +
  • Separate dining room +
  • Sun room +
  • Stunning views +
  • Close to amenities +
  • Viewing advised +

NO CHAIN - VACANT PROPERTY. A large semi-detached family home boasting plenty of natural light throughout requiring some renovation. Boasting a separate dining room, a suntrap conservatory, a driveway with ample parking and stunning views. Viewing advised.

This large semi-detached family home is located in the seaside town of Morecambe with close proximity to a range of amenities, schools, shopping facilities, food/drink establishments and more. The area also offers excellent road and transport links for travel both locally and further afield.

The accommodation boasts plenty of natural light throughout and briefly comprises a welcoming entranceway, a spacious living room, a separate dining room, a modern fitted kitchen and a suntrap conservatory.

To the first floor is an inviting landing area through to three well-proportioned bedrooms, of which the Master features fitted wardrobes, and a three-piece bathroom that requires some renovation with a new bathtub, a hand wash basin and a new WC.

Externally, the property benefits from a driveway with ample parking and stunning views.

This home is an excellent find. We anticipate a high amount of interest and as such we would recommend that any interested buyers inquire to arrange a viewing at the earliest convenience to ensure the opportunity is not missed.

Premium Fast Sale

The innovative Premium Fast Sale Plus method from Springbok Properties is a secure and straightforward way to buy property. It works like a typical sale, with a number of added benefits to the buyer.

Benefits

o Carefully implemented security measures
o A speedy process
o Realistically priced properties
o A Buy it Now option (ask for further information on this feature from our advisors)
o A significantly reduced chance of fall-throughs
o No risk of being "gazumped"
o The full focus of our highly motivated team

Springbok Properties' Premium Fast Sale Plus puts you in the driving seat thanks to our fast and secure methods.

All properties are competitively priced and carefully managed by motivated sellers for a quick, stress-free transaction.

Deposit

Sales can be secured with a reservation deposit of £2,500. This forms part of the final purchase price and is NOT an extra cost.

This deposit ensures that the property is taken off the market as soon as a sale is agreed. It is then exclusively reserved for you, eliminating gazumping, time wasting and financial loss.

An administration fee of £396 is required in order to draw up an exclusive legally binding contract between the buyer and seller. This gives the buyer exclusive rights to purchase within a pre-agreed timeframe.

Exclusivity

Following the payment of the above amount, Springbok Properties will facilitate a fixed exclusivity period (approximately 12 weeks). During this time, surveys should be arranged and preparations made for the exchange of contracts. The property will be reserved, so there will be no risk of gazumping.

Process

Our Premium Fast Sale Plus follows the below process:

STEP 1 - Register your interest
STEP 2 - Prepare your finances for the purchase
STEP 3 - Arrange a viewing
STEP 4 - Make an offer
STEP 5 - Secure your sale using our secure system
STEP 6 - Exchange and complete

Don't miss out on the chance to purchase this property. Call us today for further information and to arrange a viewing.

If you're interested in this property, we urge you to contact us immediately to arrange an early viewing and get the process started. This will help you to avoid missing out on this opportunity.

Springbok Properties' innovative Premium Fast Sale Plus is a secure and straightforward way to buy property.

Please note: to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Please call us now to book an appointment.

We highly recommend early viewing as this property is priced relatively low and is likely to generate quite an interest.

Please call us now to book an appointment.

Call Recording

Please note to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Disclaimer

Springbok Properties for itself and the Vendors or lessors of properties for whom they act give notice that:

The details shown on this website are a general outline for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract or sales particulars. All descriptions, dimensions, references to condition and other details are given in good faith and are believed to be correct but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection, searches, survey, enquiries or otherwise as to their correctness. We have not been able to test any of the building service installations and recommend that prospective purchasers arrange for a qualified person to check them before entering into any commitment. Further, any reference to, or use of any part of the properties is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

TENURE

To be confirmed by the Vendor's Solicitors

Note

The price given is a marketing price and not an indication of the property's market value. The vendor like any seller is looking to achieve the maximum price possible. Hence, by making an enquiry on this property, you recognise and understand that this property is strictly offers in excess of the marketing price provided.

How to View this Property

Viewing is strictly by appointment please call us now for bookings.

AML REGULATIONS & PROOF OF FUNDING: Any proposed purchasers will be asked to provide identification and proof of funding before any offer is accepted. We would appreciate your co-operation with this to ensure there are no delays in agreeing the sale.

Agent Details

Springbok Properties, Nationwide

0161 416 6302

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪