Worst House on the Street Logo
Avenham Lane, Preston PR1 - Image 1
Avenham Lane, Preston PR1 - Image 2

Avenham Lane, Preston PR1

North West

£120,000
Listed on 13/02/2024

Property Details

Bedrooms
3
Type
Terraced house
Area
1022 sqft

Description

This traditional 3-bedroom property presents a promising opportunity for those looking to invest or renovate. Previously let as a four-bedroom home, it boasts a flexible layout that can easily adapt to various living arrangements, making it suitable for both rental and owner-occupier markets. Situated within walking distance of the city center and nearby parklands, the location is advantageous for potential tenants and first-time buyers alike. The property features three bedrooms on the upper level and two reception areas on the ground floor, allowing for versatile use of space. While the home requires modernization, this gives a savvy investor or DIY enthusiast the chance to create value through renovations tailored to current market demands. With prior rental income reaching £1,200 per month, there is clear evidence of its profitability in the rental sector. As a freehold property with a Council Tax Band A rating, it offers an attractive proposition for those seeking to make improvements and capitalize on future appreciation. This property awaits someone with vision to breathe new life into it—an ideal project for individuals looking to put their mark on a dated yet sizeable home.

Investment Analysis

(PR1 area)

Below Market Value

This property is priced -38.6% below area average per sq ft

-38.6%
Potential saving
This Property
£117/sq ft
Area Average
£191/sq ft
Avg Rent (weekly)
£209
Avg Yield
6.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£215,116
10% above area average per sq ft
Potential ROI
+34.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
59
Average per month
Market Turnover
22%
Properties sold annually

Local Market Trend (PR1)

Area prices are falling by +5.8% over the last 12 months
3 year growth: 5.0%
5 year growth: 16.7%
Investment Disclaimer: Analysis based on PR1 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

Avenham Lane, Preston PR1
Loading map...

Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£440
Based on a loan of £90,000 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.

Next Steps

Explore services to help you with this property purchase.

Need a mortgage for this property?

Explore personalised financing options tailored to this property

No obligation, free consultation

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