3 Bed Semi-Detached House, Refurb/BRRR, Ipswich, IP1 6DN, £260,000

322 Chesterfield Drive, Ipswich, Suffolk, IP1 5LT - 4 views - a year ago

Sold STC
Refurb/BRRR
ROI: 2%
~93 m²
+20 photos

ValuationFair Value

Sold Prices£168K - £355K
Sold Prices/m²£1.7K/m² - £3.7K/m²

 

 

Square Metres

~93 m²
Price/m²£2.8K/m²

Value Estimate

£257,463

 

 

End Value (After Refurb)

£262,725

Uplift in Value

+1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£65,000

Stamp Duty & Legal Fees

£9,500

Refurb Costs

£43,322

Bridging Loan Interest

£6,825

Total Cash In

£126,397

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£262,725

Mortgage (After Refinance)

£197,044

Mortgage LTV

75%

Cash Released

£2,044

Cash Left In

£124,353

Equity

£65,681

Rent Range

£895 - £3,750

Rent Estimate

£1,337

Running Costs/mo

£1,108

Cashflow/mo

£229

Cashflow/yr

£2,743

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £168K to £355K, average is £250K. £1.7K/m² to £3.7K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£240K11/200.05 mi96, Highfield Road, Ipswich, Suffolk IP1 6DJ3
£290K07/230.06 mi116, Highfield Road, Ipswich, Suffolk IP1 6DJ3
£267.5K07/230.06 mi126, Highfield Road, Ipswich, Suffolk IP1 6DJ3
£268K05/210.06 mi114, Highfield Road, Ipswich, Suffolk IP1 6DJ3
£245K11/200.06 mi1, Cedarcroft Road, Ipswich, Suffolk IP1 6BJ3
£255K07/230.07 mi71, Tranmere Grove, Ipswich, Suffolk IP1 6DU3
£240K05/210.07 mi39, Tranmere Grove, Ipswich, Suffolk IP1 6DU3
£212K11/200.11 mi50, Chesterfield Drive, Ipswich, Suffolk IP1 6DW3
£248.5K07/230.14 mi13, Stratford Road, Ipswich, Suffolk IP1 6EE3
£345K06/230.14 mi57, Chesterfield Drive, Ipswich, Suffolk IP1 6DW3
£265K08/210.15 mi75, Cedarcroft Road, Ipswich, Suffolk IP1 6BQ3
£226K11/200.15 mi42, Cedarcroft Road, Ipswich, Suffolk IP1 6BQ3
£278K09/210.15 mi5, Tranmere Grove, Ipswich, Suffolk IP1 6DT3
£355K05/230.17 mi55, Highfield Road, Ipswich, Suffolk IP1 6DG3
£245K02/210.17 mi599, Norwich Road, Ipswich, Suffolk IP1 6JU3
£210K06/210.18 mi545, Norwich Road, Ipswich, Suffolk IP1 6JT3
£210K07/210.19 mi46, Stratford Road, Ipswich, Suffolk IP1 6EG3
£250K12/200.21 mi67, Beechcroft Road, Ipswich, Suffolk IP1 6BE3
£313.5K02/210.21 mi77, Beechcroft Road, Ipswich, Suffolk IP1 6BE3
£233K12/200.21 mi515, Norwich Road, Ipswich, Suffolk IP1 6JT3
£250K12/200.22 mi3, Chelsea Close, Ipswich, Suffolk IP1 6DE3
£195K06/210.22 mi19, Swinburne Road, Ipswich, Suffolk IP1 6EZ3
£265K05/230.23 mi20, Ravensfield Road, Ipswich, Suffolk IP1 5ED3
£250K04/230.23 mi107, Shakespeare Road, Ipswich, Suffolk IP1 6ET3
£280K06/210.24 mi24, Everton Crescent, Ipswich, Suffolk IP1 6DB3
£240K01/210.24 mi28, Everton Crescent, Ipswich, Suffolk IP1 6DB3
£285K05/230.24 mi25, Everton Crescent, Ipswich, Suffolk IP1 6DB3
£185K06/210.25 mi584, Norwich Road, Ipswich, Suffolk IP1 6JY3
£267.5K01/210.26 mi12, Beechcroft Road, Ipswich, Suffolk IP1 6BB3
£215K11/220.27 mi20, Rayleigh Road, Ipswich, Suffolk IP1 5EE3
£215K06/210.27 mi28, Coleridge Road, Ipswich, Suffolk IP1 6EH3
£249K12/220.27 mi6, Coleridge Road, Ipswich, Suffolk IP1 6EH3
£215K12/200.29 mi5, Blake Road, Ipswich, Suffolk IP1 6EN3
£305K12/220.29 mi82, Pinecroft Road, Ipswich, Suffolk IP1 6BN3
£290K02/230.29 mi21, Shrubland Avenue, Ipswich, Suffolk IP1 5EA3
£220K11/200.29 mi27, Shrubland Avenue, Ipswich, Suffolk IP1 5EA3
£180K11/200.3 mi31, Spenser Road, Ipswich, Suffolk IP1 6HU3
£265K06/210.31 mi37, Castle Road, Ipswich, Suffolk IP1 5DZ3
£238K02/210.31 mi45, Castle Road, Ipswich, Suffolk IP1 5DZ3
£249.5K07/210.31 mi53, Castle Road, Ipswich, Suffolk IP1 5DZ3
£298K05/230.31 mi8, Elmcroft Road, Ipswich, Suffolk IP1 6NA3
£263K06/230.32 mi5, Goldsmith Road, Ipswich, Suffolk IP1 6HY3
£282.5K02/210.32 mi2, Malkin Close, Ipswich, Suffolk IP1 6FE3
£237.5K01/210.32 mi26, Malkin Close, Ipswich, Suffolk IP1 6FE3
£280K03/210.32 mi15, Highfield Road, Ipswich, Suffolk IP1 6DA3
£250K02/230.33 mi53, Moore Road, Ipswich, Suffolk IP1 6NP3
£248K12/220.33 mi1, Moore Road, Ipswich, Suffolk IP1 6NP3
£265K11/210.33 mi66, Elmcroft Road, Ipswich, Suffolk IP1 6NB3
£317K03/230.33 mi86, Elmcroft Road, Ipswich, Suffolk IP1 6NB3
£168K01/210.33 mi19, Coleridge Road, Ipswich, Suffolk IP1 6EL3

Local Rents

18 rents from £895/mo to £3.8K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,20005/240.06 miHighfield Road, Ipswich3
£1,36005/240.1 mi-3
£1,10004/240.14 miChesterfield Drive, Ipswich, IP13
£3,75007/240.26 mi-3
£1,20004/240.28 miCedarcroft Road, Ipswich, Suffolk3
£1,40005/240.33 miColeridge Road, IPSWICH3
£1,05005/240.36 miAshcroft Road, Ipswich, IP13
£1,40011/230.37 mi-3
£1,20006/240.43 miBurke Road, Castle Hill, Ipswich, IP13
£1,25004/240.44 miCavan Road, IPSWICH3
£1,40003/240.44 miAshcroft Road, Ipswich3
£95003/240.49 miCromer Road, Ipswich, Suffolk, IP13
£1,27512/240.55 mi-3
£1,35012/240.55 mi-3
£1,30010/240.56 mi-3
£89504/240.56 miWallace Road, Ipswich, Suffolk, IP13
£99506/240.57 miBramford Lane, Ipswich3
£99506/240.57 miBramford Lane, Ipswich3

Local Area Statistics

Population in IP1

39,363

Population in Ipswich

219,393

Town centre distance

2.14 miles away

Nearest school

0.10 miles away

Nearest train station

1.54 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+50%

Sales demand

Balanced market

Capital growth (5yrs)

+29%

Property History

Listed for £260,000

November 30, 2023

Floor Plans

Description

  • No Onward Chain +
  • Three Bedroom Semi-Detached House +
  • Ample Off Road Parking +
  • Single Integral Garage +
  • 60ft (approx) Rear Garden +
  • Downstairs Shower Room +
  • Two Living Areas +
  • Modernised Central Heating System (2021) +
  • IP1 Location +
  • Close to Local Amenities & Schooling +

A great opportunity to acquire this three-bedroom semi-detached family home situated on the edge of the Crofts Development with no onward chain.

Requiring modernisation throughout, this property would make an ideal investment for first time buyers.

The Property - A fantastic opportunity to acquire this three bedroom semi-detached family home with potential to extend and put your own stamp on.

The property comprises separate lounge and dining room, dual kitchen area, downstairs shower room, two double bedrooms, a further single bedroom, first floor family bathroom and integrated garage. An ideal property for first time buyers or those looking for a project.

The central heating system was overhauled and a new combination boiler fitted with new radiators in January 2021.

Location - Chesterfield Drive is situated on the north-western outskirts of the town with amenities nearby including local pharmacy & doctors surgery, local schools and Meredith Road shops. There are further retail parks located further out of town. Ipswich town centre is easily accessible which has an abundance of shopping facilities, coffee houses, bars and restaurants. For the commuter the A12 and A14 are both easily accessible.

Ground Floor -

Entrance Hall - The front porch leads to a generous sized hallway with doors leading to:

Living Room - 2.9 x 3.7 (9'6" x 12'1") - A spacious living room overlooking the front aspect with bay window and radiator.

Dining Room - 2.62 x 3.54 (8'7" x 11'7") - Good sized dining room overlooking the rear aspect with feature fireplace and sliding doors to conservatory/lean-to.

Kitchen - A unique dual kitchen area comprising a range of wall and ceiling units and sliding doors leading to conservatory/lean-to. Through the archway leads to the second part of the kitchen with stainless steel sink, combi boiler (fitted in 2021), space for a cooker and washing machine. Half tiled walls and tiled flooring throughout, windows overlooking rear and side aspect and door to hall leading to integral garage and:

Shower Room - Downstairs shower room comprising shower cubicle, low level WC and hand wash basin.

Lean-To/Conservatory - Wooden lean-to/conservatory to the rear of the property comprising flat roof and door to rear garden.

First Floor -

Master Bedroom - 2.46 x 3.70 (8'0" x 12'1") - A light and airy large master bedroom overlooking the front aspect complete with bay window, radiator and floor to ceiling built-in wardrobes.

Bedroom Two - 2.20 x 3.54 (7'2" x 11'7") - Further double bedroom situated to the rear of the property with built-in storage space and window overlooking the garden.

Bedroom Three - 1.94 x 2.52 (6'4" x 8'3") - Single bedroom with window overlooking the rear garden.

Family Bathroom - Three piece bathroom suite comprising low level WC, hand wash basin and bath. Fully tiled walls with partition wall separating the toilet, wood panelled ceiling and wooden flooring with windows overlooking side and front aspect.

Outside - To the rear is the 60ft (approx) garden laid mainly to law and bordered with mature shrubs and trees. A concrete path leads to a large garden shed and paving stones take you to the end of the garden which is enclosed with mature shrubs and fencing surround.

The front of the property has off road parking for multiple vehicles and is part gravel part concrete. The boundary is separated by a mature hedgerow and a small brick wall at the front. There is access to the integral garage via an up and over door.

Agent Details

Grace Estate Agents, Ipswich

01473 943361

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪