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Lancaster Avenue, Hitchin

East of England

£750,000
Listed on 10/11/2024

Property Details

Bedrooms
3
Type
Semi-detached house
Area
1300 sqft

Description

Situated on a sought-after avenue, this three-bedroom semi-detached home offers significant renovation and investment potential. Just a short walk from local amenities, including a swimming pool, this property presents an exciting opportunity for those looking to create their ideal living space or capitalize on the area’s real estate market. Constructed in the 1950s, this residence features spacious and well-proportioned interiors. Upon entering, you'll find an inviting entrance hall that sets the tone for the rest of the home, characterized by high ceilings and abundant natural light throughout. The living areas and bedrooms retain many original features while providing ample scope for modernization and personalization to suit contemporary tastes. The property sits on a generous plot with a remarkable rear garden extending over 200 feet. This expansive outdoor space includes a level lawn adorned with various fruit trees—apples, pears, plums—and blackberry bushes, making it ideal for gardening enthusiasts or those considering an extension or home office/studio (subject to planning permission). Located in Hitchin, a charming medieval market town rich in history, residents benefit from a vibrant community atmosphere. The town features stunning Tudor and Georgian architecture, particularly around the historic market square. Local amenities include diverse shopping options, two theatres, numerous restaurants and pubs, as well as exceptional schools such as Hitchin Girls' School and Hitchin Boys' School. For commuters, the mainline railway station provides convenient access to both Kings Cross and Cambridge. Given its desirable location and renovation possibilities, this property is well worth considering for buyers looking to invest in a family home with long-term value potential. Early viewings are encouraged to fully appreciate what this home has to offer.

Investment Analysis

(SG5 area)

Above Market Value

This property is priced +31.2% above area average per sq ft

+31.2%
This Property
£577/sq ft
Area Average
£440/sq ft
Avg Rent (weekly)
£321
Avg Yield
3.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £60,000
Target Value
£628,628
10% above area average per sq ft
Potential ROI
-22.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
28
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (SG5)

Area prices are stable by +1.8% over the last 12 months
3 year growth: 5.4%
5 year growth: 9.4%
Investment Disclaimer: Analysis based on SG5 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

Lancaster Avenue, Hitchin
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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
£2,747
Based on a loan of £562,500 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