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Westham Street, Lancaster

North West

£127,500
Listed on 30/04/2025

Property Details

Bedrooms
2
Type
Terraced house
Area
481 sqft

Description

This mid-terrace two-bedroom home in South Lancaster presents a promising opportunity for those looking to invest or first-time buyers eager to enter the property market. While it has been a reliable rental for several years, the home is now being offered with vacant possession, allowing new owners to envision their own plans for renovation and personalization. Nestled within a well-established residential neighborhood, the property is conveniently located just a short distance from the city center. Its proximity to local amenities, schools, public transport links, and nearby universities enhances its appeal for tenants and homeowners alike. The ground floor features a spacious lounge that invites natural light through its front-facing window and boasts a cozy gas fire. The kitchen, equipped with practical wall and base units, includes essential appliances like a four-ring gas hob and an electric oven. An adjoining utility area provides additional convenience with access to the rear yard. Completing the ground level is a bathroom fitted with essential fixtures. Ascending to the first floor, you'll find two sizable double bedrooms, each offering ample space for furnishings and storage—ideal for maximizing comfort or rental potential. The second bedroom includes loft access which could be advantageous for future expansion possibilities. The yard at the rear of the property offers outdoor space with direct road access and includes a storage shed for added practicality—a valuable asset whether you choose to rent out or live in this home. Given its strong history as a rental property combined with significant scope for improvement, this home stands out as an investment opportunity not to be overlooked. Whether seeking your first residence or aiming to expand your real estate portfolio, this terraced property is ripe with potential waiting to be unlocked.

Investment Analysis

(LA1 area)

Above Market Value

This property is priced +16.6% above area average per sq ft

+16.6%
This Property
£265/sq ft
Area Average
£227/sq ft
Avg Rent (weekly)
£218
Avg Yield
5.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£120,291
10% above area average per sq ft
Potential ROI
-21.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
48
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (LA1)

Area prices are stable by +1.9% over the last 12 months
3 year growth: 5.5%
5 year growth: 22.1%
Investment Disclaimer: Analysis based on LA1 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

Westham Street, Lancaster
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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
£467
Based on a loan of £95,625 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