3 Bed Terraced House, Cash/Bridging Only, Taunton, TA2 7BP, £155,000

2 Belgrave Place, Taunton, TA2 7BP - 7 views - a year ago

Sold STC
Cash
ROI: 20%
50 m²
+9 photos

ValuationOvervalued

Sold Prices£159K - £370K
Sold Prices/m²£1.3K/m² - £3.8K/m²

 

 

Square Metres

50 m²
Price/m²£3.1K/m²

Value Estimate

£127,242

 

 

End Value (After Refurb)

£153,250

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£38,750

Stamp Duty & Legal Fees

£5,850

Refurb Costs

£20,333

Bridging Loan Interest

£4,069

Total Cash In

£70,752

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£153,250

Mortgage (After Refinance)

£114,938

Mortgage LTV

75%

Cash Left In

£70,752

Equity

£38,313

Rent Range

£1,250 - £2,950

Rent Estimate

£2,125

Running Costs/mo

£924

Cashflow/mo

£1,201

Cashflow/yr

£14,413

ROI

20%

Gross Yield

16%

Local Sold Prices

52 sold prices from £159K to £370K, average is £240K. £1.3K/m² to £3.8K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£185K06/210.02 mi37, Portman Street, Taunton, Somerset TA2 7BT3
£190K07/230.02 mi43, Portman Street, Taunton, Somerset TA2 7BT3
£230K07/230.11 mi47, St Andrews View, Taunton, Somerset TA2 6JU3
£230K07/230.11 mi47, St Andrews View, Taunton, Somerset TA2 6JU3
£205K12/230.11 mi35, George Street, Taunton, Somerset TA2 7DF3
£240K10/200.12 mi54, George Street, Taunton, Somerset TA2 7DE3
£257.5K01/230.12 mi37, Greenway Road, Taunton, Somerset TA2 6LA3
£235K11/200.13 mi23, Vera Street, Taunton, Somerset TA2 7DJ3
£280K07/230.13 mi31, Vera Street, Taunton, Somerset TA2 7DJ3
£280K07/230.13 mi31, Vera Street, Taunton, Somerset TA2 7DJ3
£243K12/200.14 mi3, Greenway Avenue, Taunton, Somerset TA2 6HU3
£240K10/200.14 mi19, Greenway Avenue, Taunton, Somerset TA2 6HU3
£200K03/210.14 mi15, Greenway Avenue, Taunton, Somerset TA2 6HU3
£159K03/230.14 mi8, Greenway Avenue, Taunton, Somerset TA2 6HU3
£241K01/230.15 mi4, Greenway Road, Taunton, Somerset TA2 6LB3
£213.5K01/240.15 mi18, Greenway Road, Taunton, Somerset TA2 6LB3
£185K03/210.16 mi15, William Street, Taunton, Somerset TA2 6HG3
£222.5K08/230.16 mi49, William Street, Taunton, Somerset TA2 6HG3
£265K10/230.17 mi97, Kingston Road, Taunton, Somerset TA2 7SN3
£239.9K10/210.18 mi39, Priorswood Road, Taunton, Somerset TA2 7PS3
£285K06/230.19 mi35, Herbert Street, Taunton, Somerset TA2 6HJ3
£160K04/230.19 mi17, Jubilee Street, Taunton, Somerset TA2 6JA3
£239.9K10/210.19 mi39, Priorswood Road, Taunton, Somerset TA2 7PS3
£260K02/230.21 mi21, Maxwell Street, Taunton, Somerset TA2 6HR3
£202K03/210.22 mi5, Maxwell Street, Taunton, Somerset TA2 6HR3
£240K05/240.22 mi19, Maxwell Street, Taunton, Somerset TA2 6HR3
£196K01/210.22 mi111, Kingston Road, Taunton, Somerset TA2 7SP3
£306K05/210.22 mi112, Kingston Road, Taunton, Somerset TA2 7SP3
£244K03/210.22 mi55, Greenway Avenue, Taunton, Somerset TA2 6HZ3
£315K03/230.22 mi48, Greenway Avenue, Taunton, Somerset TA2 6HZ3
£294.5K05/230.22 mi52, Greenway Avenue, Taunton, Somerset TA2 6HZ3
£305K03/240.22 mi29, Greenway Avenue, Taunton, Somerset TA2 6HY3
£274K09/210.23 mi28, Maxwell Street, Taunton, Somerset TA2 6HS3
£225K09/230.23 mi43, Compton Close, Taunton, Somerset TA2 7UD3
£198K06/210.23 mi65, Greenway Road, Taunton, Somerset TA2 6LD3
£370K03/230.25 mi42, Greenway Crescent, Taunton, Somerset TA2 6NH3
£250K10/210.25 mi63, Greenway Crescent, Taunton, Somerset TA2 6NH3
£185K09/230.25 mi27, Fowler Street, Taunton, Somerset TA2 6JB3
£220K10/230.25 mi64, Greenway Road, Taunton, Somerset TA2 6LE3
£365K01/240.25 mi74, Greenway Road, Taunton, Somerset TA2 6LE3
£247.5K06/230.26 mi7, Cyril Street, Taunton, Somerset TA2 6HW3
£225K05/210.26 mi54, Greenway Crescent, Taunton, Somerset TA2 6NH3
£185K04/210.26 mi15, Grange Drive, Taunton, Somerset TA2 7DY3
£207.5K04/210.26 mi9, Winston Close, Taunton, Somerset TA2 6JS3
£165K11/200.27 mi10, Winston Close, Taunton, Somerset TA2 6JS3
£201K07/210.27 mi13, Grange Drive, Taunton, Somerset TA2 7DY3
£222K10/200.27 mi91, Priorswood Road, Taunton, Somerset TA2 7PT3
£240K03/210.27 mi97, Priorswood Road, Taunton, Somerset TA2 7PT3
£245K08/210.28 mi75, Eaton Crescent, Taunton, Somerset TA2 7UE3
£280K03/240.28 mi75, Eaton Crescent, Taunton, Somerset TA2 7UE3
£340K06/210.31 mi2a, Greenway Crescent, Taunton, Somerset TA2 6NG3
£272K12/200.31 miSunnydale, 37, Greenway Crescent, Taunton, Somerset TA2 6NG3

Local Rents

18 rents from £1.3K/mo to £3K/mo, average is £2.1K/mo.

RentDateDistanceAddressBeds 
£1,25002/250.06 mi-3
£1,25009/240.11 mi-3
£1,35010/240.17 mi-3
£1,30009/240.3 miEaton Crescent, Taunton3
£2,95002/240.5 mi-3
£2,95009/240.5 mi-3
£2,95009/240.5 mi-3
£2,95009/240.5 mi-3
£2,95009/240.5 mi-3
£2,95007/240.5 mi-3
£2,95008/240.5 mi-3
£2,95002/250.5 mi-3
£2,95003/250.5 mi-3
£1,30009/240.51 miFirepool Crescent, Taunton3
£1,30009/240.51 miFirepool Crescent, Taunton3
£1,35009/240.55 miWoodstock Road3
£1,25009/240.6 miRichmond Road, Taunton, TA13
£1,35009/240.62 miSheldon Court, Taunton3

Local Area Statistics

Population in TA2

26,588

Population in Taunton

85,088

Town centre distance

0.84 miles away

Nearest school

0.10 miles away

Nearest train station

0.24 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Listed for £155,000

December 27, 2023

Floor Plans

Description

  • Three Bedrooms +
  • Complete Refurbishment Required Throughout +
  • Close To Town Centre And Train Station +
  • South Facing Rear Garden +
  • Vacant Possession +
  • No Onward Chain +

The accommodation, which is arranged over three floors, comprises in brief; entrance hallway with stairs rising to the first floor and doors leading into the sitting room and dining room. The sitting room has a fireplace and window providing aspect to the front. The dining room has a gas fire with a back boiler behind and a useful under stairs storage cupboard. The kitchen has a stainless steel sink, space for a fridge/freezer and space for a gas cooker. On the first floor there are two bedrooms, both with integrated wardrobes. There is also a family bathroom comprising panelled bath with electric shower over, low level wc and a wash hand basin. The accommodation is completed with a second-floor, double bedroom with integrated storage cupboards. Externally, the rear garden is South facing and has a selection of raised flower beds as well as a workshop/shed. Additionally, there is a useful pedestrian side access and an outside WC.

MEASUREMENTS [All measurements are approximate]:
GROUND FLOOR:
ENTRANCE HALLWAY,
SITTING ROOM: 11'8" x 10'1" (3.55m x 3.07m),
DINING ROOM: 12'9" x 10'8" (3.88m x 3.25m),
KITCHEN: 9'1" x 7'0" (2.76m x 2.13m),
LEAN-TO UTILITY: 7'3" x 6'3" (2.20m x 1.90m),
OUTSIDE WC
FIRST FLOOR:
LANDING,
BEDROOM ONE: 12'5" x 11'9" max (3.78m x 3.58m max),
BEDROOM THREE: 12'8" x 7'1" (3.86m x 2.15m),
BATHROOM: 9'2" x 7'1" (2.79m x 2.15m)
SECOND FLOOR:
BEDROOM TWO: 12'5" x 12'2" (3.78m x 3.70m)

GENERAL REMARKS AND STIPULATIONS:
Tenure: The property is offered for sale freehold by private treaty with vacant possession on completion.
Services: Mains water with meter, mains electricity, mains drainage, gas fired central heating.
Local Authority: Somerset Council, County Hall, The Crescent, Taunton, Somerset, TA1 4DY.
Property Location: w3w.co/firmly.still.agree
Council Tax Band: B
EPC: F
AGENTS NOTE: With the current EPC rating, this property cannot be let.

IMPORTANT NOTICE Wilkie May & Tuckwood for themselves and for the vendors of the property, whose agents they are, give notice that: 1. the particulars are intended to give a fair and substantially correct overall description for the guidance of intending purchaser and do not constitute part of an offer or contract. Prospective purchasers and lessees ought to seek their own professional advice. 2. All descriptions, dimensions, areas, reference to condition and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Wilkie May & Tuckwood has any authority to make or give any representations or warranty whatever in relation to this property on behalf of Wilkie May & Tuckwood, nor enter into any contract on behalf of the vendor. 4. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold, let or withdrawn. Photographs taken and details prepared December 2023. MEASUREMENTS AND OTHER INFORMATION All measurements are approximate. While we endeavour to make our sales particular accurate and reliable, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the information with you.
Code of Practice for Residential Estate Agents: Effective from 1 August 2011:
'8. Financial Evaluation 8a At the time that an offer has been made and is being considered by the seller, you must take reasonable steps to find out from the prospective buyer the source and availability of his funds for buying the property and pass this information to the seller. Such information will include whether the prospective buyer needs to sell a property, requires a mortgage, claims to be a cash buyer or any combination of these. Such relevant information that is available should be included in the Memorandum of Sale having regard to the provisions of the Data Protection Act.8b These reasonable steps must continue after acceptance of the offer until exchange of contracts (in Scotland, conclusion of missives) and must include regular monitoring of the prospective buyer's progress in achieving the funds required, and reporting such progress to the seller.
The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for their purpose. A Buyer is advised to obtain verification from their solicitor or surveyor. References to the Tenure of the Property are based on information supplied by the Seller. The agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.

Agent Details

Wilkie May & Tuckwood, Taunton

01823 212604

Next Steps?

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