2 Bed Terraced House, Cash/Bridging Only, Helston, TR13 0NW, £299,950

Laity, Wendron, TR13 0NW - 10 months ago

Under Offer
Cash
ROI: 3%
~68 m²
+24 photos

ValuationOvervalued

Sold Prices£126.8K - £601K
Sold Prices/m²£1.8K/m² - £6.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.4K/m²

Value Estimate

£238,052

 

 

End Value (After Refurb)

£270,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£74,988

Stamp Duty & Legal Fees

£18,695

Refurb Costs

£29,873

Bridging Loan Interest

£7,874

Total Cash In

£133,179

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£270,000

Mortgage (After Refinance)

£202,500

Mortgage LTV

75%

Cash Left In

£133,179

Equity

£67,500

Rent Range

£750 - £2,700

Rent Estimate

£1,434

Running Costs/mo

£1,151

Cashflow/mo

£283

Cashflow/yr

£3,401

ROI

3%

Gross Yield

6%

Local Sold Prices

49 sold prices from £126.8K to £601K, average is £215K. £1.8K/m² to £6.7K/m², average is £3.6K/m².

PriceDateDistanceAddressBeds 
£505K04/210.3 miCombellack, Laity, Wendron, Helston, Cornwall TR13 0NW2
£165.7K06/210.56 mi4, Chapel Terrace, Manhay, Helston, Cornwall TR13 0NJ2
£231.5K11/201.45 miBarquantine, Helston Road, Porkellis, Helston, Cornwall TR13 0JS2
£183K01/211.86 mi3, Sylvester Buildings, Trewennack, Helston, Cornwall TR13 0PH2
£201K02/211.86 mi1, Sylvester Buildings, Trewennack, Helston, Cornwall TR13 0PH2
£380K02/242.19 mi4, Brillwater Road, Constantine, Falmouth, Cornwall TR11 5AJ2
£353.5K10/222.25 mi18, Forth Gwedhen, Helston, Cornwall TR13 8FL2
£245K09/232.25 mi10, Forth Gwedhen, Helston, Cornwall TR13 8FL2
£198K11/202.29 mi1, Rose Cottages, Halfway House, Penryn, Cornwall TR10 9ED2
£325K06/232.33 mi5, Vicarage Terrace, Constantine, Falmouth, Cornwall TR11 5AN2
£250K08/232.33 mi26, Parc Holland, Helston, Cornwall TR13 8GR2
£235K12/222.36 mi34, Tremenheere Avenue, Helston, Cornwall TR13 8SY2
£247K02/232.36 mi38, Tremenheere Avenue, Helston, Cornwall TR13 8SY2
£235K01/242.36 mi32, Tremenheere Avenue, Helston, Cornwall TR13 8SY2
£182K11/202.36 mi34, Tremenheere Avenue, Helston, Cornwall TR13 8SY2
£200K03/212.37 mi25, Roskruge Close, Helston, Cornwall TR13 8GL2
£250K06/232.39 mi35, Seneschall Park, Helston, Cornwall TR13 8GA2
£216.5K02/232.4 mi76, Manor Way, Helston, Cornwall TR13 8LZ2
£210K04/232.45 mi7, Chytroose Close, Helston, Cornwall TR13 8UY2
£203K01/232.45 mi11, Chytroose Close, Helston, Cornwall TR13 8UY2
£197.5K09/212.45 mi60, Fore Street, Constantine, Falmouth, Cornwall TR11 5AB2
£256K10/222.45 mi8, Chytroose Close, Helston, Cornwall TR13 8UY2
£280K11/232.46 mi20, Trenethick Avenue, Helston, Cornwall TR13 8LU2
£210K11/202.49 mi25, Barton Close, Helston, Cornwall TR13 8LL2
£240K01/212.57 mi2, Trenethick Close, Helston, Cornwall TR13 8LQ2
£263K10/232.59 mi9, Penbothidno, Constantine, Falmouth, Cornwall TR11 5AT2
£285K09/232.61 mi5, Gwealdues, Helston, Cornwall TR13 8LA2
£136.5K01/212.63 mi26, Plover Avenue, Helston, Cornwall TR13 8FW2
£192K03/232.68 miWoodstock, 2, Canons Place, Helston, Cornwall TR13 8LS2
£126.8K11/212.71 mi12, Tregarrick View, Helston, Cornwall TR13 8GU2
£225K11/232.72 mi20, Hawkins Way, Helston, Cornwall TR13 8FQ2
£225K11/232.72 mi20, Hawkins Way, Helston, Cornwall TR13 8FQ2
£215K03/242.72 mi17, Hawkins Way, Helston, Cornwall TR13 8FQ2
£157.5K12/222.76 mi55, Hellis Wartha, Helston, Cornwall TR13 8WE2
£295K03/232.78 mi2, Pendeen Park, Helston, Cornwall TR13 0DL2
£250K08/212.78 mi15, Pendeen Park, Helston, Cornwall TR13 0DL2
£240K11/202.79 mi2, Millbrook Cottages, Lowertown, Helston, Cornwall TR13 0BZ2
£160K12/212.8 mi20, Nanscober Place, Helston, Cornwall TR13 0SP2
£215K11/232.8 mi40, Nanscober Place, Helston, Cornwall TR13 0SP2
£198K07/232.8 mi31, Nanscober Place, Helston, Cornwall TR13 0SP2
£183K03/212.8 mi29, Nanscober Place, Helston, Cornwall TR13 0SP2
£230K12/232.8 mi28, Nanscober Place, Helston, Cornwall TR13 0SP2
£142.5K02/212.82 mi22, Hellis Wartha, Helston, Cornwall TR13 8WE2
£161.3K11/202.82 mi23, Hellis Wartha, Helston, Cornwall TR13 8WE2
£140.6K01/212.82 mi74, Hellis Wartha, Helston, Cornwall TR13 8WE2
£172.5K09/222.82 mi75, Hellis Wartha, Helston, Cornwall TR13 8WE2
£165K06/212.94 mi15, Kellaway Park, Helston, Cornwall TR13 8QU2
£601K08/232.96 miTrewartha, Polwheveral, Constantine, Falmouth, Cornwall TR11 5RW2
£200K04/212.98 mi34, Godolphin Road, Helston, Cornwall TR13 8QD2

Local Rents

21 rents from £750/mo to £2.7K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£75001/250.69 mi-1
£2,00002/241.1 mi-4
£1,60001/251.1 mi-4
£1,99509/241.31 miWendron, Helston5
£81009/241.33 mi-2
£81009/241.33 mi-2
£1,40001/251.4 mi-1
£1,30002/251.4 mi-1
£2,25009/241.43 mi-3
£2,70010/241.43 mi-3
£1,60009/241.45 mi-2
£1,82509/241.84 miChalbury Heights Brill Constantine TR114
£1,55012/232.09 mi-3
£1,55012/232.09 mi-3
£95009/242.25 miForth Gwedhen, Heslton2
£1,30002/242.31 mi-3
£97504/252.39 mi-2
£95012/242.39 mi-2
£95001/252.39 mi-2
£95009/242.39 miSeneschall Park, Helston, TR132
£1,40009/242.46 miTrenithick Avenue, Helston, TR135

Local Area Statistics

Population in TR13

19,807

Population in Helston

29,289

Town centre distance

3.25 miles away

Nearest school

1.20 miles away

Nearest train station

5.55 miles away

 

 

Rental growth (12m)

-37%

Sales demand

Balanced market

Capital growth (5yrs)

+30%

Property History

Price changed to £299,950

December 4, 2024

Price changed to £315,000

September 26, 2024

Listed for £325,000

June 14, 2024

Floor Plans

Description

  • SUN ROOM +
  • INGLENOOK FIREPLACE +
  • DOUBLE GLAZING +
  • PERIOD FEATURES +

Farthing Cottage is a nicely presented, semi-detached cottage with period features ranging from granite quoins and exposed local stonework, to an impressive inglenook fireplace which houses a multi fuel stove set upon a tiled hearth.

Situated in the roadside hamlet of Carnebone, Farthing Cottage is very well placed for access to Falmouth University, Falmouth town, Truro, Helston and the Lizard Peninsula.

Without doubt one of the highlights of the residence are the simply fabulous panoramic views that can be enjoyed from the rear and side garden of the property out towards Goonhilly, Helston and coastline beyond. Enjoying a sunny outlook these extensive vistas provide a lovely backdrop to the property and should be viewed to fully appreciate all that is on offer.

Other highlights include a solid wood fitted kitchen, a lounge full of character with a feature fireplace and exposed stonework and a large sun room, which has been significantly enhanced during the current owners tenure to provide a light and welcoming room in which to relax and enjoy the sunny outlook and views on offer.

On the first floor are two comfortable double bedrooms, both with dual aspect, a useful study and a well appointed family bathroom. Outside there is an adjacent, well established garden which is nicely enclosed with a neat lawn, patio area and a range of mature plants, shrubs and trees. The property benefits from double glazing and a multi fuel stove with a back boiler.

The accommodation comprises an entrance porch, kitchen, dining room, lounge and a conservatory on the ground floor, whilst upstairs there are two bedrooms, a study and family bathroom.

Laity is a small hamlet a short drive from the bustling market town of Helston which has many amenities. These include national stores, health centres, cinema and a leisure centre with indoor pool. There are a number of well regarded primary schools and a secondary school with sixth form college whilst a university campus can be found in the nearby port town of Falmouth which is some ten miles distant. The property is well located with a road link to Falmouth and the county capital of Truro some fourteen miles away which has a mainline railway station with regular services to London Paddington.

THE ACCOMMODATION COMPRISES (DIMENSIONS APPROX)
Door to

ENTRANCE PORCH
With grey tiled flooring and enjoying a dual aspect to the front and side aspects taking full advantage of the stunning rural and coastal backdrop beyond. Stable door to kitchen and a latched door to

CLOAKROOM
With a low level W.C., wall mounted extractor, tiling to the floor, useful shelf and frosted window to the front.

KITCHEN 3.00M X 2.77M (9'10" X 9'1")
A well appointed fitted kitchen comprising solid wood working top surfaces incorporating a Franke sink with drainer and mixer tap over and a range of base cupboards under. Space for an electric cooker with stainless steel splashback and a chimney style hood over, whilst spaces are provided for a range of appliances including a washing machine and freestanding fridge freezer. There are tiled splashbacks, attractive display shelving, stylish polished floor tiling, recessed spotlighting and an internal window with an outlook to the sun room and garden beyond. Beamed opening to -

DINING ROOM 2.87M X 2.77M (9'5" X 9'1")
A pleasant room with a continuation of the polished tiled flooring, latched door to the lounge and a contemporary glass door and step down to

SUN ROOM 6.17M X 2.84M MAX MEASUREMENT (20'3" X 9'4" MAX MEASUREMENT )
A light and impressive room with a part vaulted ceiling, tiling to the floor, door to the rear garden and an array of windows providing an enviable outlook over the well tended garden and expansive views beyond.

LOUNGE 4.93M X 3.94M (16'2" X 12'11" )
A dual aspect room full of character with exposed stonework and fabulous inglenook fireplace playing host to a multi fuel stove and back boiler set upon a tiled hearth, with striking display shelves to either side. There is a cupboard housing the electric consumer unit, recessed spotlighting, windows to the front and side aspects and an understairs storage cupboard with useful shelving.

A staircase rises to the first floor.

FIRST FLOOR

LANDING
With a white balustrade, alcove shelving, window to the side aspect, a positive pressure system and doors off to both bedrooms, the study and the family bathroom.

BEDROOM ONE 4.22M X 2.74M (13'10" X 9')
A light and airy dual aspect double bedroom enjoying far reaching and elevated views towards Goonhilly, Mullion, Helston and the sea beyond. The room is enhanced by attractive exposed wood flooring, a radiator and windows to the front and side aspects, a loft hatch and useful wardrobes.

BEDROOM TWO 3.73M X 2.79M (12'3" X 9'2")
A comfortable dual aspect double bedroom with a radiator, loft hatch to the roof space, cupboard with a hanging rail and storage shelf above and outlook to the side and rear.

STUDY 2.26M X 1.91M MAX MEASUREMENT (7'5" X 6'3" MAX MEASUREMENT )
A useful room which would lend itself to home office working or crafting. Radiator and a window to the side aspect.

BATHROOM
With white suite comprising a low level W.C., pedestal wash handbasin and a panelled bath with a tiled surround and an electric shower over. There is a ladder style towel rail, exposed wood flooring and a frosted window to the side.

OUTSIDE
A shared driveway leads towards the front of the residence and on to a stone chipped parking area with parking for a number of vehicles. Steps and a handrail lead up to the front door, whilst a passageway leads around to the side and a useful external storage shed.

A granite pillar and garden open into a neatly enclosed and well established garden with mature plants, shrubs and trees at the borders with Cornish hedging and raised stone flowerbeds. The garden is laid largely to lawn and leads on to a small patio area that enjoys a lovely outlook over pasture land towards the Lizard Peninsula and coastline.

SERVICES
Mains electricity and water. Private drainage.

AGENTS NOTE ONE
The residence is situated within a small roadside hamlet near to the A394 Helston to Falmouth Road.

AGENTS NOTE TWO
We are advised that there is a small area of flying freehold believed to be adjacent to the understairs storage cupboard.

AGENTS NOTE THREE
We are advised by the owners that the wardrobes in bedroom one are included in the sale.

AGENTS NOTE FOUR
We are advised by the owners that the neighbouring property enjoys a right of access which related to the small side passageway between the two properties.

AGENTS NOTE FIVE
We are advised that the property has successfully operated as a self-contained Airbnb during various periods of the current owners' tenure.

AGENTS NOTE SIX
We are instructed that a new private drainage system has recently been installed at the property. Further details are available upon request.

COUNCIL TAX
Council Tax Band B.

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

PROOF OF FINANCE - 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
11th June, 2024

Agent Details

Christophers, Helston

01326 331637

Next Steps?

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