2 Bed Terraced House, Cash/Bridging Only, Taunton, TA1 3ER, £189,950

23 Mitre Court, Taunton, TA1 3ER - 3 views - a year ago

Cash
ROI: 6%
59 m²
+7 photos

ValuationOvervalued

Sold Prices£125K - £293K
Sold Prices/m²£1.7K/m² - £5K/m²

 

 

Square Metres

58.52 m²
Price/m²£3.2K/m²

Value Estimate

£143,049

 

 

End Value (After Refurb)

£189,513

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£47,488

Stamp Duty & Legal Fees

£6,899

Refurb Costs

£23,798

Bridging Loan Interest

£4,986

Total Cash In

£84,920

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£189,513

Mortgage (After Refinance)

£142,134

Mortgage LTV

75%

Cash Left In

£84,920

Equity

£47,378

Rent Range

£850 - £2,700

Rent Estimate

£1,283

Running Costs/mo

£869

Cashflow/mo

£414

Cashflow/yr

£4,970

ROI

6%

Gross Yield

8%

Local Sold Prices

50 sold prices from £125K to £293K, average is £186.3K. £1.7K/m² to £5K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£190K08/230 mi33, Mitre Court, Taunton, Somerset TA1 3ER2
£241K06/230.04 mi13, Alfred Street, Taunton, Somerset TA1 3HU2
£194K04/230.05 mi53, East Reach, Taunton, Somerset TA1 3EZ2
£170K11/210.11 mi14, Blake Street, Taunton, Somerset TA1 3BE2
£215K07/230.12 mi14, Noble Street, Taunton, Somerset TA1 3BD2
£180K12/200.12 mi10, Noble Street, Taunton, Somerset TA1 3BD2
£178K02/210.12 mi15, Noble Street, Taunton, Somerset TA1 3BD2
£170K08/210.13 mi32, Grays Road, Taunton, Somerset TA1 3BB2
£208K01/230.13 mi24, Grays Road, Taunton, Somerset TA1 3BB2
£154K02/210.14 mi24, Grays Road, Taunton, Somerset TA1 3BB2
£150K04/210.14 mi17, Wilfred Road, Taunton, Somerset TA1 1TB2
£170K02/210.16 mi25, St Margarets Court, Taunton, Somerset TA1 2UD2
£190K08/210.16 mi9, Wilfred Road, Taunton, Somerset TA1 1TB2
£182K03/210.16 mi55, Leycroft Road, Taunton, Somerset TA1 2ED2
£167K05/210.17 mi33, Viney Street, Taunton, Somerset TA1 3AY2
£187.5K03/210.17 mi10, Viney Street, Taunton, Somerset TA1 3AY2
£181K10/230.17 mi2, Gloucester Street, Taunton, Somerset TA1 1TA2
£139.9K08/210.17 mi13, Eastbourne Gate, Taunton, Somerset TA1 1SZ2
£130K03/240.17 mi2, Eastbourne Gate, Taunton, Somerset TA1 1SZ2
£125K10/200.19 mi19, Hamilton Road, Taunton, Somerset TA1 2EQ2
£168K01/210.2 mi120, Lambrook Road, Taunton, Somerset TA1 2AD2
£190K12/200.21 mi27, Winchester Street, Taunton, Somerset TA1 1QQ2
£150K12/200.21 mi44, Eastbourne Road, Taunton, Somerset TA1 1SU2
£176K11/200.21 mi42, Eastbourne Road, Taunton, Somerset TA1 1SU2
£183K04/210.21 mi37, Eastbourne Road, Taunton, Somerset TA1 1SU2
£170K08/210.22 mi24, Brooke Road, Taunton, Somerset TA1 2HP2
£215K02/240.22 mi3, Gordon Road, Taunton, Somerset TA1 3AU2
£240K03/240.22 mi21, Eastleigh Road, Taunton, Somerset TA1 2YA2
£170K05/210.23 mi14, Eastbourne Road, Taunton, Somerset TA1 1ST2
£195K08/230.23 mi14, Eastbourne Road, Taunton, Somerset TA1 1ST2
£152K06/210.23 mi6, Eastbourne Road, Taunton, Somerset TA1 1ST2
£229K03/210.23 mi31, South Street, Taunton, Somerset TA1 3AA2
£255K06/230.23 mi31, South Street, Taunton, Somerset TA1 3AA2
£183K03/230.24 mi24, Wordsworth Drive, Taunton, Somerset TA1 2HW2
£205K01/230.24 mi18, Wordsworth Drive, Taunton, Somerset TA1 2HW2
£235K01/240.25 mi51, South Street, Taunton, Somerset TA1 3AE2
£191K02/210.25 mi55, South Street, Taunton, Somerset TA1 3AE2
£185K03/210.26 mi60, South Street, Taunton, Somerset TA1 3AF2
£183.5K03/210.29 mi60, St Augustine Street, Taunton, Somerset TA1 1QH2
£270K05/240.3 mi92, South Street, Taunton, Somerset TA1 3AG2
£165K02/210.31 mi15, Winters Field, Taunton, Somerset TA1 1PY2
£212K08/230.32 mi51, Eastgate Gardens, Taunton, Somerset TA1 1RE2
£215K12/220.33 mi16, Winters Field, Taunton, Somerset TA1 1PZ2
£243.9K10/230.34 mi81, Winchester Street, Taunton, Somerset TA1 1QE2
£212K10/230.35 mi3, Priory Park, Taunton, Somerset TA1 1PX2
£275K01/230.35 mi4, Alma Street, Taunton, Somerset TA1 3AH2
£197K07/230.38 mi11, Wheatley Crescent, Taunton, Somerset TA1 2AT2
£221K05/240.39 mi69, Parmin Way, Taunton, Somerset TA1 2JX2
£293K01/230.39 mi71, Parmin Way, Taunton, Somerset TA1 2JX2
£160K03/210.43 mi36, Roman Road, Taunton, Somerset TA1 2BG2

Local Rents

30 rents from £850/mo to £2.7K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£2,70009/240.16 mi-2
£2,70011/240.16 mi-2
£2,70002/250.16 mi-2
£2,70003/250.16 mi-2
£2,70009/240.16 mi-2
£2,70012/240.16 mi-2
£2,70002/250.16 mi-2
£2,70003/250.16 mi-2
£1,20009/240.17 miGloucester Street, TAUNTON2
£1,20009/240.18 mi-2
£1,20012/240.18 mi-2
£1,10002/250.19 mi-2
£1,20009/240.19 mi-2
£1,00012/240.24 mi-2
£95009/240.24 miEast Reach, Taunton2
£95009/240.34 miTaunton2
£85011/240.37 mi-2
£99509/240.38 miPriory Avenue, Taunton2
£1,50009/240.4 mi-2
£1,70002/250.4 mi-2
£85009/240.4 miMiddle Street, Taunton, TA12
£92509/240.43 miThe Octagon, Taunton, Somerset, TA12
£1,10009/240.43 mi-2
£1,10009/240.47 miFirepool View, TAUNTON2
£1,55009/240.52 miCoal Orchard, TAUNTON2
£95003/250.54 mi-2
£1,60009/240.55 miCoal Orchard, TAUNTON2
£90009/240.6 miMassingham Park, Taunton2
£90009/240.61 miNorth Taunton, Somerset2
£90009/240.61 miMassingham Park, Taunton2

Local Area Statistics

Population in TA1

39,265

Population in Taunton

85,088

Town centre distance

0.38 miles away

Nearest school

0.10 miles away

Nearest train station

0.70 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £189,950

April 16, 2024

Sold for £153,250

2007

Sold for £126,000

2003

Floor Plans

Description

  • Terrace +
  • Two Bedrooms +
  • uPVC Double Glazing +
  • Gas Fired Central Heating +
  • Off-Road Parking +
  • No Onward Chain +

Situated in a courtyard setting within easy reach of Taunton town centre, is this two bedroom modern mid terrace home.

The property, which was originally constructed in the early 2000's by local builders Messrs Summerfield Developments, is offered to the market with vacant possession.

Benefits of the property include uPVC double glazing and mains gas fired central heating as well as being further enhanced by off-road parking.

In brief, the accommodation comprises; front door leading into entrance hall with cloakroom off. There is a modern fitted kitchen comprising of a range of matching wall and base units, roll edge work surfaces and tiled splashbacks, integrated stainless steel oven, gas hob and extractor fan. There is space for a washing machine and space for a fridge/freezer. From the hallway, a doorway leads through to a generous size sitting/dining room that has double glazed French doors leading to the rear, understairs storage cupboard and radiator. A staircase rises to a first floor landing with access to both bedrooms and a bathroom. The bathroom comprises of wc, wash hand basin, bath with tiled surround and shower over. Externally, the rear garden is fully enclosed and laid to low maintenance brick pavior. The garden doubles up as off-road parking.

MEASUREMENTS [All measurements are approximate]:
GROUND FLOOR:
ENTRANCE HALL,
KITCHEN: 5'7" x 9'0" (1.70m x 2.74m),
SITTING/DINING ROOM: 12'4" x 15'6" max (3.75m x 4.72m max)
FIRST FLOOR:
LANDING,
BEDROOM ONE: 12'4" x 9'1" (3.75m x 2.76m),
BEDROOM TWO: 12'5" x 8'8" (3.78m x 2.64m),
BATHROOM: 6'4" x 5'7" (1.93m x 1.70m)

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/frogs.mini.deaf
Council Tax Band: B
EPC: C
Broadband: Ultrafast with up 1000Mbps download speed and 220Mbps upload speed.
Mobile Phone Coverage: Voice & data available with EE, Three, O2 & Vodafone.
Flood Risk: Rivers & Sea-very low. Surface Water-very low.

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 March 2024. 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?

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