2 Bed Flat, Single Let, Ipswich, IP2 8EU, £110,000

Dock Street, Ipswich, Suffolk, IP2 8EU - 10 months ago

Sold STC

Leasehold

BTL

ROI: 10%

~68 m²

+8 photos

ValuationUndervalued

Sold Prices	£55K - £322.5K
Sold Prices/m²	£1.5K/m² - £4.3K/m²

Square Metres	~68.11 m²
Price/m²	£1.6K/m²
Value Estimate	£132,000£132,000
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£27,500£27,500
Stamp Duty & Legal Fees	£6,700£6,700
Total Cash In	£34,200£34,200

Cash Out
Rent Range	£492 - £4,000£492 - £4,000
Rent Estimate	£809
Running Costs/mo	£526£526
Cashflow/mo	£283£283
Cashflow/yr	£3,401£3,401
ROI	10%10%
Gross Yield	9%9%

Local Sold Prices

50 sold prices from £55K to £322.5K, average is £134.5K. £1.5K/m² to £4.3K/m², average is £2.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£108K	11/21	0.09 mi	88, Vernon Street, Ipswich, Suffolk IP2 8JB	£1,742	62	2	Flat
£320K	04/21	0.16 mi	155, Stoke Quay, Ipswich, Suffolk IP2 8SN	£2,991	107	2	Flat
£137.5K	04/23	0.16 mi	31, Seymour Road, Ipswich, Suffolk IP2 8EN	£2,500	55	2	Flat
£150K	02/21	0.26 mi	72, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,174	69	2	Flat
£162.5K	04/21	0.26 mi	58, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,500	65	2	Flat
£170K	06/21	0.26 mi	54, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,017	84	2	Flat
£122.5K	03/21	0.26 mi	92, Wolsey Street, Ipswich, Suffolk IP1 1AF	£1,801	68	2	Flat
£161K	09/21	0.31 mi	15, St Nicholas Court, Ipswich, Suffolk IP1 1TG	£1,789	90	2	Flat
£322.5K	06/23	0.33 mi	51, Neptune Square, Ipswich, Suffolk IP4 1QH	£4,300	75	2	Flat
£315K	07/23	0.33 mi	39, Neptune Square, Ipswich, Suffolk IP4 1QH	£4,297	73	2	Flat
£290K	02/21	0.33 mi	51, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,867	75	2	Flat
£167K	01/21	0.33 mi	10, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,199	52	2	Flat
£255K	06/21	0.33 mi	48, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,400	75	2	Flat
£120K	10/20	0.33 mi	7, Croft Street, Ipswich, Suffolk IP2 8EB	£1,993	60	2	Flat
£135K	11/21	0.37 mi	6, Bruff Road, Ipswich, Suffolk IP2 8GY	£2,318	58	2	Flat
£151.5K	12/20	0.45 mi	53, Pownall Road, Ipswich, Suffolk IP3 0DN	£2,658	57	2	Flat
£110K	10/21	0.45 mi	25, Sinclair Drive, Ipswich, Suffolk IP2 8HZ	-	-	2	Flat
£55K	10/20	0.45 mi	Flat 17, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS	-	-	2	Flat
£120K	01/23	0.45 mi	Flat B, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS	£2,256	53	2	Flat
£110K	12/20	0.46 mi	88, Bruff Road, Ipswich, Suffolk IP2 8GX	£1,964	56	2	Flat
£128K	12/22	0.46 mi	102, Bruff Road, Ipswich, Suffolk IP2 8GX	£2,281	56	2	Flat
£140K	11/21	0.48 mi	239, Duke Street, Ipswich, Suffolk IP3 0BX	-	-	2	Flat
£115K	08/21	0.49 mi	18, Silk Street, Ipswich, Suffolk IP4 2PA	£1,716	67	2	Flat
£133K	09/22	0.5 mi	93, Pownall Road, Ipswich, Suffolk IP3 0DA	£1,900	70	2	Flat
£140K	12/22	0.5 mi	32, Siloam Place, Ipswich, Suffolk IP3 0FB	£2,373	59	2	Flat
£119K	10/20	0.5 mi	22, Siloam Place, Ipswich, Suffolk IP3 0FB	£2,644	45	2	Flat
£125.5K	05/21	0.5 mi	42, Siloam Place, Ipswich, Suffolk IP3 0FB	£1,476	85	2	Flat
£134K	10/22	0.5 mi	16, Silk Street, Ipswich, Suffolk IP4 2PA	£1,887	71	2	Flat
£138.5K	10/22	0.5 mi	19, Hope Court, Ipswich, Suffolk IP3 0DW	£1,979	70	2	Flat
£190.5K	09/21	0.51 mi	Flat 3, Burlingham House, Ancaster Road, Ipswich, Suffolk IP2 9AJ	-	-	2	Flat
£120K	04/21	0.51 mi	56, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,034	59	2	Flat
£128K	07/21	0.51 mi	64, Pownall Road, Ipswich, Suffolk IP3 0DR	£1,882	68	2	Flat
£130K	11/20	0.51 mi	48, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,321	56	2	Flat
£128K	07/21	0.51 mi	64, Pownall Road, Ipswich, Suffolk IP3 0DR	£1,882	68	2	Flat
£135K	05/23	0.51 mi	46, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,252	60	2	Flat
£130K	10/22	0.51 mi	36, Hope Court, Ipswich, Suffolk IP3 0DX	£1,605	81	2	Flat
£123.5K	04/21	0.52 mi	32, Maidenhall Approach, Ipswich, Suffolk IP2 8NX	-	-	2	Flat
£130K	02/23	0.52 mi	21, Isham Place, Ipswich, Suffolk IP3 0DY	£2,319	56	2	Flat
£110K	06/21	0.52 mi	1, Isham Place, Ipswich, Suffolk IP3 0DY	£1,833	60	2	Flat
£134K	02/23	0.52 mi	5, Isham Place, Ipswich, Suffolk IP3 0DY	£2,627	51	2	Flat
£135K	04/23	0.53 mi	58, Fore Hamlet, Ipswich, Suffolk IP3 8BD	£1,824	74	2	Flat
£118K	06/21	0.53 mi	32, Fore Hamlet, Ipswich, Suffolk IP3 8BD	£1,686	70	2	Flat
£153.5K	12/22	0.53 mi	43, Bruff Road, Ipswich, Suffolk IP2 8GS	£2,952	52	2	Flat
£125K	06/21	0.54 mi	6, Isham Place, Ipswich, Suffolk IP3 0DZ	£2,128	59	2	Flat
£114K	01/23	0.54 mi	59, Siloam Place, Ipswich, Suffolk IP3 0FD	£1,781	64	2	Flat
£147K	10/22	0.56 mi	106, Siloam Place, Ipswich, Suffolk IP3 0FF	£2,492	59	2	Flat
£136K	04/23	0.56 mi	92, Siloam Place, Ipswich, Suffolk IP3 0FF	£1,936	70	2	Flat
£137K	12/21	0.6 mi	70, Compair Crescent, Ipswich, Suffolk IP2 0EH	£2,175	63	2	Flat
£135K	02/23	0.61 mi	58, Compair Crescent, Ipswich, Suffolk IP2 0EH	-	-	2	Flat
£140K	03/23	0.61 mi	68, Compair Crescent, Ipswich, Suffolk IP2 0EH	£1,944	72	2	Flat

Local Rents

51 rents from £492/mo to £4K/mo, average is £1K/mo.

Rent	Date	Distance	Address	Beds	Type
£800	04/24	0.01 mi	Stokebridge Maltings, Ipswich, IP2	2	Flat
£950	08/24	0.07 mi	Cranfield Mill, College Street, Ipswich	2	Flat
£1,050	04/24	0.08 mi	College Street, IPSWICH	2	Flat
£1,000	04/24	0.08 mi	Foundry The Mill, College Street, Ipswich	2	Flat
£895	06/24	0.09 mi	The Mill	2	Flat
£850	07/24	0.09 mi	The Mill, College Street, Ipswich, Suffolk, IP4	2	Flat
£925	05/24	0.09 mi	Stoke Street, IP2, Ipswich	2	Terraced House
£1,600	04/24	0.1 mi	The Winerack, Penthouse Apartment	2	Flat
£1,000	01/24	0.11 mi	Key Street, Ipswich	2	Flat
£1,100	05/24	0.11 mi	The Winerack, Ipswich	2	Flat
£1,150	09/24	0.11 mi	The Winerack, Key Street, Ipswich	2	Flat
£1,600	04/24	0.12 mi	Key Street, The Winerack Key Street, IP4	2	Flat
£1,100	06/24	0.12 mi	Key Street, IPSWICH	2	Flat
£1,300	09/24	0.12 mi	Key Street, IPSWICH	2	Flat
£1,450	06/24	0.12 mi	Winerack Apartments, Key Street, Ipswich	2	Flat
£1,250	08/24	0.13 mi	The Shamrock, Ipswich	2	Flat
£985	08/24	0.14 mi	Stoke Quay, Ipswich	2	Flat
£985	09/24	0.14 mi	Stoke Quay, Ipswich	2	Flat
£1,200	04/24	0.15 mi	-	2	Flat
£1,275	01/25	0.15 mi	-	2	Flat
£900	04/24	0.15 mi	Austin Street, Ipswich, Suffolk	2	Terraced House
£900	05/24	0.15 mi	Austin Street, Ipswich, Suffolk	2	Terraced House
£900	06/24	0.15 mi	Austin Street, Ipswich, Suffolk	2	Terraced House
£1,000	07/24	0.16 mi	Stoke Quay, IP2	2	Flat
£950	08/24	0.16 mi	Stoke Quay, Ipswich, IP2	2	Flat
£1,125	01/24	0.17 mi	44 The Cambria, Regatta Quay, Key Street, Ipswich, Suffolk, IP4	2	Flat
£1,250	07/24	0.17 mi	The Cambria, Quay Street, Ipswich, IP4	2	Flat
£1,250	07/24	0.17 mi	The Cambria, Quay Street, Ipswich, IP4	2	Flat
£4,000	11/24	0.18 mi	-	2	Flat
£4,000	11/24	0.18 mi	-	2	Flat
£1,000	04/24	0.18 mi	The Winerack, Key Street, Ipswich	2	Flat
£1,200	07/24	0.18 mi	The Winerack, Key Street, Ipswich	2	Flat
£1,000	07/24	0.18 mi	The Winerack, Key Street, Ipswich	2	Flat
£1,150	07/24	0.18 mi	The Winerack, Key Street, Ipswich	2	Flat
£1,095	08/24	0.18 mi	The Cambria, Key Street, Ipswich	2	Flat
£1,050	08/24	0.18 mi	The Winerack, Key Street, Ipswich	2	Flat
£900	04/24	0.19 mi	St. Peters Street, Ipswich, IP1	2	Flat
£2,695	06/24	0.21 mi	Lower Brook Street, Ipswich	2	Semi-Detached House
£2,600	05/24	0.21 mi	-	2	Terraced House
£825	08/24	0.23 mi	Pauline Street, Ipswich, IP2	2	Flat
£795	06/24	0.25 mi	Shelley Street, Ipswich, IP2	2	Flat
£1,150	04/25	0.25 mi	-	2	Flat
£900	04/24	0.25 mi	Hartley Street, Ipswich, Suffolk, IP2	2	Terraced House
£2,000	03/25	0.25 mi	-	2	Flat
£1,100	04/24	0.26 mi	-	2	Terraced House
£875	04/24	0.26 mi	Wolsey Street, Ipaxis	2	Flat
£985	05/24	0.26 mi	Wolsey Street, Ipswich	2	Flat
£895	05/24	0.26 mi	Wolsey Street, Ipswich	2	Flat
£492	04/24	0.26 mi	-	2	Flat
£532	10/24	0.26 mi	-	2	Flat
£850	05/24	0.27 mi	Heart of Town Centre	2	Flat

Local Area Statistics

Population in IP2	30,99730,997
Population in Ipswich	219,393219,393
Town centre distance	0.67 miles away0.67 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	0.44 miles away0.44 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-1%-1%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+28%+28%

Property History

Price changed to £110,000

January 19, 2025

Listed for £120,000

May 31, 2024

Floor Plans

Description

Two Bedroom First Floor Apartment +
Uninterrupted River & Marina Views +
Walking Distance To Town Centre & Train Station +
Allocated Parking Space +
Storage Lock Up Within Building +
No Onward Chain +

Situated within the characterful former malthouse, the Stokebridge Maltings development sits along the beautiful and vibrant Ipswich Marina. This first floor two bedroom apartment benefits from allocated parking, river/marina views and is being offered with NO ONWARD CHAIN.

The property itself comprises of generously sized reception room which as well as offering uninterrupted river views has ample space to accommodate both living and dining area, the kitchen is incorporated within the reception room and has recently been replaced with spacious fully fitted modern kitchen, family bathroom which consists of WC, wash basin and shower cubicle and also handy storage cupboard which has been utilised as utility space for a washing machine and/or tumbledryer, very generously sized master bedroom and further second double bedroom.

Stokebridge Maltings is conveniently located within the centre of Ipswich being only a short walk from Ipswich town centre which offers a vast array of Shops, Restaurants, Pubs & Bars as well as being a short walk to Ipswich train station which provides main line links to London Liverpool Street. The development is situated on the vibrant Ipswich Marina which boasts of independent cafes, bars & restaurants.

Internal viewing is highly recommended, to arrange or for more information please contact the SALES team at LEADERS.

Agent Details

Leaders Sales, Ipswich

01473 943818

Next Steps?

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

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