2 Bed Flat, Single Let, Felixstowe, IP11 2FR, £120,000

75 Benbow Court, Capel Drive, Felixstowe, IP11 2FR - 2 views - 2 years ago

Leasehold
BTL
ROI: 9%
~68 m²
+2 photos

ValuationUndervalued

Sold Prices£86K - £420K
Sold Prices/m²£1.9K/m² - £4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.8K/m²

Value Estimate

£148,800
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£4,800

Total Cash In

£34,800

 

 

Cash Out

 

Rent Range

£700 - £1,100

Rent Estimate

£835

Running Costs/mo

£562

Cashflow/mo

£273

Cashflow/yr

£3,276

ROI

9%

Gross Yield

8%

Local Sold Prices

20 sold prices from £86K to £420K, average is £180.8K. £1.9K/m² to £4K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£86K03/210.39 miFlat 17, Rowland House, Winston Close, Felixstowe, Suffolk IP11 2FA2
£110K10/220.39 miFlat 12, Rowland House, Winston Close, Felixstowe, Suffolk IP11 2FA2
£120K05/230.39 miFlat 26, Rowland House, Winston Close, Felixstowe, Suffolk IP11 2FA2
£159K11/220.78 miFlat 4, The House Martins, Cage Lane, Felixstowe, Suffolk IP11 9BH2
£135K11/220.85 mi7a, Langer Road, Felixstowe, Suffolk IP11 2BT2
£174K03/230.88 mi11, Tower Road, Felixstowe, Suffolk IP11 7PR2
£165K12/210.88 mi67, Tower Road, Felixstowe, Suffolk IP11 7PR2
£187.5K05/210.88 mi45, Tower Road, Felixstowe, Suffolk IP11 7PR2
£190K01/230.88 mi40, Tower Road, Felixstowe, Suffolk IP11 7PR2
£230K01/230.93 mi16, St Johns Court, Felixstowe, Suffolk IP11 7SG2
£142.5K12/220.94 mi73a, High Road West, Felixstowe, Suffolk IP11 9AA2
£280K03/211 mi52, Tomline Road, Felixstowe, Suffolk IP11 7PA2
£115K01/231.03 miFlat 2, Russell Court, Beach Station Road, Felixstowe, Suffolk IP11 2DR2
£155K12/201.06 miFlat 1, Edward Cordy House, Orwell Road, Felixstowe, Suffolk IP11 7NY2
£335K11/211.61 mi9a, High Beach, Felixstowe, Suffolk IP11 7LE2
£315K12/201.68 miFlat 1, Beach Place, Undercliff Road East, Felixstowe, Suffolk IP11 7LW2
£280K11/201.68 miFlat 5, Beach Place, Undercliff Road East, Felixstowe, Suffolk IP11 7LW2
£285K10/201.68 miFlat 2, Beach Place, Undercliff Road East, Felixstowe, Suffolk IP11 7LW2
£420K06/211.91 miApartment 6, Cranmer Cliff Gardens, Maybush Lane, Felixstowe, Suffolk IP11 7NH2
£400K11/201.91 miApartment 3, Cranmer Cliff Gardens, Maybush Lane, Felixstowe, Suffolk IP11 7NH2

Local Rents

13 rents from £700/mo to £1.1K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£95004/240.23 miNayland Road, Felixstowe2
£95005/240.23 miNayland Road, Felixstowe2
£90003/240.24 miAldringham Mews, Felixstowe, Suffolk, IP112
£90004/240.24 miAldringham Mews, Felixstowe2
£1,10005/240.28 miHolbrook Crescent, Felixstowe2
£1,00005/240.3 miChelsworth Road, Felixstowe 2
£85004/240.32 miThe Downs, Felixstowe2
£1,05004/240.34 miRunnacles Way, Felixstowe2
£70006/240.38 miMill Lane, Felixstowe2
£82006/240.42 miBredfield Close, Felixstowe2
£99505/240.58 miWalton Hall Drive, Felixstowe2
£99506/240.58 miWalton Hall Drive, Felixstowe2
£87505/240.59 miMargaret Street, Felixstowe, IP112

Local Area Statistics

Population in IP11

29,290

Population in Felixstowe

29,294

Town centre distance

0.96 miles away

Nearest school

0.20 miles away

Nearest train station

0.86 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

0%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £120,000

April 21, 2023

Floor Plans

Description

  • IDEAL FOR FIRST TIME BUYERS +
  • ALLOCATED OFF ROAD PARKING +
  • CLOSE TO SUPERMARKET, DOCTORS SURGERY & PHARMACY +
  • CLOSE LINKS TO A14 +
  • SECOND FLOOR APARTMENT +
  • TWO BEDROOMS +
  • MODERISATION REQUIRED +
  • VIEWING HIGHLY RECOMMENDED +

Seemingly ideal for a first time buyer, the apartment also benefits from allocated off road parking. The accommodation in brief comprises entrance hall, lounge, kitchen, two bedrooms and a bathroom.

Benbow Court is an owners occupied building and therefore sub-letting is not permitted.

The property is conveniently located within close proximity to a major supermarket, doctor surgery and a pharmacy and also links to the A14 are also nearby.

A viewing is highly recommended to appreciate the accommodation on offer.

Communal entrance door opening to:- 

COMMUNAL HALLWAY Stairs leading to all floors with number 75 located on the second floor, entrance door opening to:- 

ENTRANCE HALL Storage radiator, phone entry system, airing cupboard housing hot water cylinder, access to loft space, doors to:- 

LOUNGE 14' 3" x 11' 7" (4.34m x 3.53m) Storage radiator, T.V point, double aspect windows, opening to:- 

KITCHEN 11' 3" x 5' 10" (3.43m x 1.78m) Fitted worktops with storage units above and matching storage units and drawers below. Stainless steel sink unit with single drainer, space and plumbing available for washing machine, integrated oven with four ring electric hob and cooker hood above, space for freestanding fridge freezer, window to outside and door to hallway. 

BEDROOM 1. 12' 4" x 9' 8" (3.76m x 2.95m) Electric radiator, window to outside. 

BEDROOM 2. 10' 10" x 8' 3" (3.3m x 2.51m) Electric radiator, window to outside. 

BATHROOM 6' 6" x 6' 3" (1.98m x 1.91m) Suite comprising low level W.C., wash hand basin, panelled bath, part tiled walls, Dimplex wall heater, obscured window. 

TENURE Leasehold - We understand from the current owners that they are in the process of extending the lease to 999 years and this will be finalised before the completion of sale. 

SERVICE CHARGE & GROUND RENT We understand from the current owner that the service charge and ground rent in place is £87.00 per month. 

COUNCIL TAX BAND Band 'A' 

AGENT NOTE Please note Benbow Court is owner occupation only. Sub letting is prohibited under the terms of the lease.

Agent Details

ScottBeckett, Felixstowe

01394 331688

Next Steps?

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