2 Bed Flat, Single Let, Ipswich, IP2 0UJ, £50,000

Dunlop Road, Ipswich, IP2 0UJ - 10 months ago

Under Offer
Leasehold
Auction
BTL
ROI: 24%
~68 m²
+2 photos

ValuationUndervalued

Sold Prices£64K - £190.5K
Sold Prices/m²£1.6K/m² - £2.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£734/m²

Value Estimate

£61,000
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£3,700

Total Cash In

£16,200

 

 

Cash Out

 

Rent Range

£695 - £1,850

Rent Estimate

£630

Running Costs/mo

£302

Cashflow/mo

£328

Cashflow/yr

£3,933

ROI

24%

Gross Yield

15%

Local Sold Prices

36 sold prices from £64K to £190.5K, average is £130K. £1.6K/m² to £2.7K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£64K03/230 miFlat 510, The Spectrum, Dunlop Road, Ipswich, Suffolk IP2 0UJ2
£115K04/210.14 mi40d, Pickwick Road, Ipswich, Suffolk IP2 0JP2
£115K04/210.14 mi40d, Pickwick Road, Ipswich, Suffolk IP2 0JP2
£120K11/200.33 mi134, Yeoman Close, Ipswich, Suffolk IP1 2QE2
£120K11/200.33 mi134, Yeoman Close, Ipswich, Suffolk IP1 2QE2
£110K12/200.33 mi184, Yeoman Close, Ipswich, Suffolk IP1 2QB2
£127.8K03/210.45 mi64, Fulham Way, Ipswich, Suffolk IP1 4FD2
£142K05/230.48 mi49, Cullingham Road, Ipswich, Suffolk IP1 2EG2
£115K09/210.57 mi42, Wellington Street, Ipswich, Suffolk IP1 2NZ2
£105K11/210.61 mi47, Bramford Road, Ipswich, Suffolk IP1 2LU2
£150K10/220.61 mi95, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£123.5K10/200.61 mi117, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£110K04/210.61 mi101, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£139K11/220.62 mi53, Reavell Place, Ipswich, Suffolk IP2 0ET2
£121K05/210.64 mi50, Holman Court, Ipswich, Suffolk IP2 0ES2
£130K05/210.64 mi46, Holman Court, Ipswich, Suffolk IP2 0ES2
£132.5K02/210.64 mi6, Holman Court, Ipswich, Suffolk IP2 0ES2
£120K02/230.64 mi34, Holman Court, Ipswich, Suffolk IP2 0ES2
£137.5K10/220.64 mi42, Holman Court, Ipswich, Suffolk IP2 0ES2
£147K12/220.65 mi9, Ganymede Close, Ipswich, Suffolk IP1 5AE2
£148K06/230.65 mi21, Ganymede Close, Ipswich, Suffolk IP1 5AE2
£132.5K07/210.65 mi25, Ganymede Close, Ipswich, Suffolk IP1 5AE2
£132.5K07/230.65 mi27, Ganymede Close, Ipswich, Suffolk IP1 5AE2
£137.5K12/220.65 mi54, Holman Court, Ipswich, Suffolk IP2 0ES2
£121K05/210.66 mi50, Holman Court, Ipswich, Suffolk IP2 0ES2
£130K11/220.67 mi62, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£147.5K04/230.69 mi46, Hyperion Court, Ipswich, Suffolk IP1 5AJ2
£127K09/210.7 mi4, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£135K02/230.7 mi58, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£140K03/230.7 mi68, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£137K12/210.7 mi70, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£145K12/220.71 mi107, Saturn Road, Ipswich, Suffolk IP1 5PS2
£130K01/230.72 mi101, Saturn Road, Ipswich, Suffolk IP1 5PS2
£145K01/230.72 mi133, Saturn Road, Ipswich, Suffolk IP1 5PS2
£120K08/210.83 mi5, Spinner Close, Ipswich, Suffolk IP1 5RA2
£190.5K09/210.98 miFlat 3, Burlingham House, Ancaster Road, Ipswich, Suffolk IP2 9AJ2

Local Rents

48 rents from £695/mo to £1.9K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£75008/240 miDunlop Road, Ipswich2
£94901/250.24 mi-2
£89504/240.33 miYeoman Close, Ipswich, IP12
£87505/240.33 miYeoman Close, Ipswich, IP12
£92505/240.38 miBeaconsfield Road, IPSWICH2
£99504/240.42 miBeaconsfield Road, IPSWICH2
£77504/240.45 miLondon Road, Ipswich, IP12
£1,10011/240.45 mi-2
£1,10011/240.45 mi-2
£90002/240.46 miBramford Road, Ipswich2
£80006/240.47 miLondon Road, Ipswich2
£87506/240.48 miCullingham Road, Ipswich, IP12
£1,84004/240.5 mi-2
£1,84006/240.5 mi-2
£1,84012/240.5 mi-2
£1,50004/250.5 mi-2
£1,85004/240.5 mi-2
£1,40005/240.5 mi-2
£1,55009/240.5 mi-2
£1,40011/240.5 mi-2
£1,55001/250.5 mi-2
£1,40003/250.5 mi-2
£69512/230.51 mi-2
£79504/240.52 miSproughton Road, East Ipswich, Ipswich, IP12
£90005/240.53 miIpswich, Suffolk2
£85002/250.53 mi-2
£86003/240.53 mi-2
£1,20009/230.54 mi-2
£80004/240.55 miChevallier Street, Ipswich, Suffolk, IP12
£90012/240.55 mi-2
£95003/240.55 mi-2
£95001/240.56 miLondon Road, Ipswich2
£90001/240.56 miLondon Road, Ipswich2
£90001/240.56 miLondon Road, Ipswich2
£90007/240.57 miBroomwade Close, Ipswich2
£85004/240.58 miRendlesham Road, Ipswich2
£90004/240.58 miRendlesham Road, Ipswich, Suffolk, IP12
£99506/240.59 miBramford Lane, IPSWICH2
£85004/240.59 miRendlesham Road, IP12
£95005/240.59 miWellington Street, IPSWICH2
£99503/240.6 mi-2
£90003/240.6 miBulwer Road, Ipswich, Suffolk, IP12
£87508/240.6 miGaskell Place, IPSWICH2
£89505/240.6 miGaskell Place, Ipswich2
£98512/240.61 mi-2
£98512/240.61 mi-2
£90007/240.61 miCompair Crescent, Ipswich, IP22
£86504/240.61 miCompair Crescent, Ipswich2

Local Area Statistics

Population in IP2

30,997

Population in Ipswich

219,393

Town centre distance

1.71 miles away

Nearest school

0.30 miles away

Nearest train station

0.90 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-1%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Price changed to £50,000

December 26, 2024

Price changed to £55,000

December 4, 2024

Price changed to £60,000

September 26, 2024

Listed for £65,000

May 29, 2024

Floor Plans

Description

  • Investment opportunity +
  • Being sold via Secure Sale online bidding. Terms & Conditions apply. +
  • Two bedrooms +
  • Modern open plan Kitchen/Lounge +
  • Modern Shower Room +
  • Electric heating +
  • Allocated parking +
  • Lift access +
  • Near train station +
  • Easy access to the A12/A14 +

BELVOIR Are pleased to bring to the market the second floor apartment situated to the West side of Ipswich. The property is being sold by Modern day auction methods with the current tenants paying £630. The property benefits from having and entrance hall, open plan lounge/kitchen, two bedrooms and shower room. The building has a lift and allocated parking. _________________________________________________ Accommodation: Communal entrance with stairs and lift to all floors. Entrance hall has laminate flooring. Lounge/Diner/kitchen: 3.90m x 3.88m Double glazed windows, electric heater, laminate flooring, kitchen area has range of cupboards, drawers and wall cupboards, work tops, fitted cooker, hob and extractor hood, single drainer sink unit, space for fridge/freezer. Bedroom One: 2.82m x 2.23m Double glazed window, electric heater, fitted wardrobe. Bedroom Two: 2.40m x 2.19m Double glazed window, electric heater, fitted cupboard with space for washing machine. Shower Room: 2.36m x 1.22m Walk in shower cubicle, low level WC, pedestal wash basin, heated towel rail, extractor fan. Outside we understand from the owner that there is an allocated parking space. Council Tax band: A Council tax band amount:£1503 Length of lease: 117 years remaining Ground rent: £350 Service charge: £ 2424. Awaiting approval of the particulars from our client. ___________________________________________________ Disclaimers: At Belvoir Ipswich we endeavour to ensure our sales particulars are accurate and reliable, however, they do not constitute or form part of an offer or contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Belvoir and our partners provide a wide range of services to buyers, although you are free to use an alternative provider. For more information simply speak to one of our team today. We can refer you to The Mortgage Advice Bureau for help with finance. We may receive a fee of up to £250.00, if you decide to take a mortgage through them. If you require a solicitor to handle your purchase, then we can refer you to KMA solicitors. We may receive a fee of £100.00, if you decide to use their services. Whilst our referrals come highly recommended, you are free to use alternative providers throughout the process. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation. Auctioneers Additional Comments  Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'. Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively. This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent. The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website. Auctioneers Additional Comments 
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase. In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures. Auctioneers Additional Comments 
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services. EPC rating: D. Tenure: Leasehold,

Agent Details

Belvoir, Ipswich

01473 943916

Next Steps?

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