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Lydric Avenue, Hoghton, Preston

North West

£200,000
Listed on 06/06/2024

Property Details

Bedrooms
2
Type
Semi Detached Bungalow
Area
823 sqft

Description

This appealing two-bedroom bungalow is nestled in a quiet cul-de-sac within the desirable village of Gregson Lane. While this property requires some updates, it presents an exciting opportunity for buyers seeking to personalize and enhance their living space. The semi-rural setting is complemented by convenient access to local shops and excellent transport links via the M6, M61, and M65 motorways. Upon entering the home, you are welcomed into a hallway that connects to the main living areas. The two spacious double bedrooms promise ample natural light, with one featuring built-in wardrobes for added convenience. A family bathroom with a three-piece suite includes a standalone shower and provides a large storage cupboard housing the combi boiler. At the end of the hallway lies a generously sized lounge equipped with an electric fireplace and new laminate flooring. For those interested in traditional aesthetics, there’s potential to restore the existing chimney for a classic fireplace setup. The lounge opens via patio doors into a south-facing garden—an inviting outdoor space perfect for relaxation or entertaining. Adjacent to the lounge is a kitchen/diner which offers plenty of room for both cooking and dining needs, though it would benefit from modernization to maximize its potential. This area flows into a conservatory/sunroom that adds versatility, providing access to both the garage and garden. Outside, you'll find a well-proportioned garden featuring mature greenery, along with lawn and patio areas conducive to outdoor leisure activities. The driveway at the front of the property accommodates off-road parking for two vehicles, with further possibilities for extending parking capacity on the lawn. Notably, new double glazing has been installed at the rear of the home while the expansive attic area could be transformed into additional living space pending appropriate planning permissions. This bungalow brims with character and offers substantial renovation potential in an enviable location.

Investment Analysis

(PR5 area)

Above Market Value

This property is priced +10.0% above area average per sq ft

+10.0%
This Property
£243/sq ft
Area Average
£221/sq ft
Avg Rent (weekly)
£202
Avg Yield
4.7%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £40,000
Target Value
£199,981
10% above area average per sq ft
Potential ROI
-16.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
48
Average per month
Market Turnover
86%
Properties sold annually

Local Market Trend (PR5)

Area prices are rising by +6.1% over the last 12 months
3 year growth: +6.0%
5 year growth: +22.1%
Investment Disclaimer: Analysis based on PR5 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

Lydric Avenue, Hoghton, Preston
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£721
Based on a loan of £150,000 over 30 years at 4.06% 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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