2 Bed Terraced House, Cash/Bridging Only, Helston, TR13 9DT, £315,000

8 Chapel Terrace, Helston, Cornwall, TR13 9DT - 3 views - a year ago

Under Offer
Cash
~89 m²
+13 photos

ValuationFair Value

Sold Prices£220K - £490K
Sold Prices/m²£2.8K/m² - £8.5K/m²

 

 

Square Metres

~89.40 m²
Price/m²£3.5K/m²

Value Estimate

£321,300

 

 

End Value (After Refurb)

£327,096

Uplift in Value

+4%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£78,750

Stamp Duty & Legal Fees

£13,900

Refurb Costs

£39,211

Bridging Loan Interest

£8,269

Total Cash In

£141,879

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£327,096

Mortgage (After Refinance)

£245,322

Mortgage LTV

75%

Cash Released

£9,072

Cash Left In

£132,807

Equity

£81,774

Rent Range

£650 - £1,600

Rent Estimate

£1,012

Running Costs/mo

£1,245

Cashflow/mo

£-233

Cashflow/yr

£-2,791

Gross Yield

4%

Local Sold Prices

20 sold prices from £220K to £490K, average is £323K. £2.8K/m² to £8.5K/m², average is £4.8K/m².

PriceDateDistanceAddressBeds 
£255K04/210.01 miChy An Mor, The Gue, Porthleven, Helston, Cornwall TR13 9HX2
£300K12/220.03 mi7a, The Gue, Porthleven, Helston, Cornwall TR13 9DN2
£400K07/210.03 mi8, The Gue, Porthleven, Helston, Cornwall TR13 9DN2
£246.5K10/200.03 mi7a, The Gue, Porthleven, Helston, Cornwall TR13 9DN2
£220K12/200.07 mi15, Thomas Street, Porthleven, Helston, Cornwall TR13 9DG2
£230K07/230.09 mi9, Thomas Terrace, Porthleven, Helston, Cornwall TR13 9DE2
£330K11/210.13 mi13, Wellington Road, Porthleven, Helston, Cornwall TR13 9AB2
£326K12/230.13 mi13, Wellington Road, Porthleven, Helston, Cornwall TR13 9AB2
£345K12/200.15 mi8, Balfield Road, Porthleven, Helston, Cornwall TR13 9BQ2
£320K12/220.15 miAnchorage, Unity Road, Porthleven, Helston, Cornwall TR13 9DA2
£395K03/240.18 mi11, St Pirans Parc, Porthleven, Helston, Cornwall TR13 9BD2
£490K05/240.21 miSailaway Cottage, Institute Hill, Porthleven, Helston, Cornwall TR13 9DW2
£425K11/210.29 miTamarisk, Loe Bar Road, Porthleven, Helston, Cornwall TR13 9EL2
£257K06/230.33 mi14, South View, Porthleven, Helston, Cornwall TR13 9LS2
£240K11/230.36 mi9, West View, Porthleven, Helston, Cornwall TR13 9LN2
£285K11/200.37 mi7, Penponds Road, Porthleven, Helston, Cornwall TR13 9LL2
£331K04/240.37 mi46, Penponds Road, Porthleven, Helston, Cornwall TR13 9LL2
£422K12/200.37 miMariners 2, Loe Bar Road, Porthleven, Helston, Cornwall TR13 9ER2
£235K04/210.4 mi48, Penponds Road, Porthleven, Helston, Cornwall TR13 9LP2
£350K11/210.44 mi7, Treza Road, Porthleven, Helston, Cornwall TR13 9NB2

Local Rents

16 rents from £650/mo to £1.6K/mo, average is £963/mo.

RentDateDistanceAddressBeds 
£89508/240.05 mi-1
£1,20011/240.1 mi-3
£75003/250.15 mi-2
£65007/241.92 mi-1
£75005/241.94 mi-1
£1,00004/241.95 mi-2
£92509/242.03 miFive Wells Lane, Helston, Cornwall2
£1,60002/242.11 mi-4
£92509/242.11 miChurch Street, Helston, Cornwall2
£75009/242.27 mi-1
£1,35009/242.27 miFalmouth Road, Helston3
£1,30003/252.28 mi-3
£92509/242.28 miOrchard Close, Helston, Cornwall, TR132
£1,20010/242.3 mi-3
£1,17509/242.43 mi-3
£1,20003/252.43 mi-3

Local Area Statistics

Population in TR13

19,807

Population in Helston

29,289

Town centre distance

2.19 miles away

Nearest school

0.40 miles away

Nearest train station

8.26 miles away

 

 

Rental growth (12m)

-37%

Sales demand

Balanced market

Capital growth (5yrs)

+30%

Property History

Listed for £315,000

May 4, 2024

Sold for £51,000

1996

Floor Plans

Description

  • GARDEN & COURTYARD +
  • ONE BEDROOM NET LOFT +
  • SHORT WALK TO THE VILLAGE +
  • CONSERVATORY +

Fronting onto a traffic free location just a short stroll of the harbour with all of its amenities is this charming character cottage. It also has a one bedroom converted net loft at the rear which would seem ideal for extra visitor accommodation or indeed for those wishing to create an income stream (subject to necessary consents).

The accommodation in brief provides a conservatory to the front, lounge with wood burner, dining area, fitted kitchen and to the first floor there are two bedrooms and a shower room. To the outside and to the front there is a nicely enclosed garden whilst to the rear there is a courtyard and the converted net loft has an open plan living area to the first floor and on the ground floor there is a utility area/kitchen and shower room.

Porthleven is a vibrant, picturesque fishing village and mainland Britain's most southerly port. The village is renowned for its many highly regarded restaurants, long beach, surfing, rugged coastline and clifftop walks. Community groups are thriving within the village with sports' clubs and a prize winning brass band which can be heard echoing around the harbour on many a summer's Sunday evening. Local amenities include shops, restaurants, Public Houses, galleries, supermarket, doctors' surgery and a well regarded primary school.

THE ACCOMMODATION COMPRISES (DIMENSIONS APPROX)

GLAZED DOOR TO

CONSERVATORY 4.83M X 2.63M (15'10" X 8'7")
A dual aspect room with part exposed stone wall and windows and door out onto the front garden. With opening to

LOUNGE 4.55M X 3.61M (14'11" X 11'10")
With beamed ceilings and wood burner set on a polished stone hearth with granite lintel over, two feature cupboards, glazed panel door back to the conservatory and opening to

DINING ROOM 3.4M X 3M (11'1" X 9'10")
With four built in feature cupboards, further under storage cupboard and part stone feature walls.

Opening to

KITCHEN 3.37M X 1.99M (11'0" X 6'6")
Comprising fitted kitchen with worktops that incorporate a stainless steel sink drainer, gas hob with hood over, mixture of base and drawer units under with wall cupboards over. There is space for a washing machine, hatch back to the dining area, tiling to the floor and half glazed door leading out onto the rear courtyard.

From the lounge there is a door that leads back to an inner hallway with under stairs storage cupboard and a turning staircase rises to the first floor landing.

BEDROOM ONE 3.63M X 2.74M (11'10" X 8'11")
Window to the front aspect and feature fireplace (not working).

BEDROOM TWO 3.39M X 2.97M (11'1" X 9'8")
With built in wardrobe and glazed door leads to a balcony seating area.

SHOWER ROOM
With tiled walk in shower with electric shower over and glazed door, pedestal wash hand basin, close coupled w.c., part tiling to the walls, obscured window to the front aspect, wood paneling to the ceiling and extractor.

NET LOFT
This converted net loft on the ground floor has a utility area and shower room whilst to the first floor there is a nice open plan living area.

OUTSIDE
To the front of the property and being a real feature is this lovely enclosed garden with a number of beds housing mature plants and shrubs. There is a gate that leads out onto the walkway to the front and leading to the village. To the rear is a courtyard with useful shed.

AGENT NOTE
The property is subject to probate being granted

CONSERVATION AREA
We understand this property is located in a conservation area. For details of conservation areas visit Cornwall Mapping and use the Council's interactive map.

SERVICES
Mains electricity, water and drainage.

COUNCIL TAX BAND
Band B

ANTI MONEY LAUNDERING REGULATIONS - PURCHASER
We are required by law to ask all purchasers for verified ID prior to instructing a sale.

PROOF OF FUNDS - PURCHASERS
Prior to agreeing a sale, we will require proof of financial ability to purchase which will include an agreement in principle for a mortgage and/or proof of cash funds.

DATE DETAILS PREPARED
17th April 2024

Agent Details

Christophers, Helston

01326 331637

Next Steps?

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