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Brook Street North, Preston PR2

North West

£115,000
Listed on 03/11/2023

Property Details

Bedrooms
2
Type
Terraced house
Area
657 sqft

Description

This two-bedroom freehold property presents a promising opportunity for first-time buyers and investors alike. Nestled in a sought-after area of Preston, it is close to local amenities including schools, shops, and the vibrant Preston City Centre. With easy access to main bus routes and motorway connections, this location offers both convenience and connectivity. While the property requires modernisation throughout, it serves as a blank canvas that invites creativity and personal touches. The potential for renovation allows the new owner to customize the space according to their vision, making it an excellent investment opportunity. Internally, the layout includes an entrance hall leading to a spacious lounge featuring a charming fireplace, perfect for relaxing or entertaining. The dining kitchen is equipped with essential wall and base units, along with space for modern appliances. Upstairs, you'll find two generous bedrooms along with a three-piece bathroom that has the potential to be transformed into a stylish retreat. Externally, the property benefits from on-street parking and an enclosed rear yard that offers additional outdoor space. This combination of features presents an attractive proposition for those looking to add value through thoughtful renovations. Viewings are encouraged to fully appreciate the potential that this property holds. It is offered with no onward chain, allowing for a straightforward transition for interested buyers.

Investment Analysis

(PR2 area)

Below Market Value

This property is priced -14.2% below area average per sq ft

-14.2%
Potential saving
This Property
£175/sq ft
Area Average
£204/sq ft
Avg Rent (weekly)
£226
Avg Yield
5.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £35,000
Target Value
£147,431
10% above area average per sq ft
Potential ROI
-1.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
79
Average per month
Market Turnover
23%
Properties sold annually

Local Market Trend (PR2)

Area prices are stable by 0.0% over the last 12 months
3 year growth: 6.7%
5 year growth: 19.4%
Investment Disclaimer: Analysis based on PR2 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Brook Street North, Preston PR2
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£421
Based on a loan of £86,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE