2 Bed Terraced House, Cash/Bridging Only, Helston, TR12 7DS, £325,000

Mullion TR12 7DS - 9 months ago

Under Offer
Cash
~70 m²
+8 photos

ValuationOvervalued

Sold Prices£155K - £387.5K
Sold Prices/m²£2.5K/m² - £6K/m²

 

 

Square Metres

~70.14 m²
Price/m²£4.6K/m²

Value Estimate

£243,779

 

 

End Value (After Refurb)

£300,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£21,200

Refurb Costs

£30,605

Bridging Loan Interest

£8,531

Total Cash In

£143,336

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£300,000

Mortgage (After Refinance)

£225,000

Mortgage LTV

75%

Cash Left In

£143,336

Equity

£75,000

Rent Range

£550 - £1,800

Rent Estimate

£1,098

Running Costs/mo

£1,177

Cashflow/mo

£-79

Cashflow/yr

£-949

Gross Yield

4%

Local Sold Prices

20 sold prices from £155K to £387.5K, average is £292.5K. £2.5K/m² to £6K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£280K12/200.29 miWillow End, Churchtown, Mullion, Helston, Cornwall TR12 7BT2
£295K05/210.29 miSt. Michaels Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7BT2
£235K07/230.34 miSavoy House, Churchtown, Mullion, Helston, Cornwall TR12 7HQ2
£285K06/210.35 miMullion Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7HJ2
£285K06/210.37 miMullion Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7HJ2
£305K04/220.38 miCarpenters Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7HN2
£300K09/210.39 mi18, Gibbons Fields, Mullion, Helston, Cornwall TR12 7EA2
£300K09/210.39 mi18, Gibbons Fields, Mullion, Helston, Cornwall TR12 7EA2
£210K12/210.39 mi26, Gibbons Fields, Mullion, Helston, Cornwall TR12 7EA2
£365K06/210.41 miAngwenyn, Meaver Road, Mullion, Helston, Cornwall TR12 7DN2
£300K01/210.43 miRedannack Bungalow, Lender Lane, Mullion, Helston, Cornwall TR12 7HS2
£387.5K03/230.46 mi63, Laflouder Fields, Mullion, Helston, Cornwall TR12 7HR2
£250K01/210.46 mi12, Woodlands, Mullion, Helston, Cornwall TR12 7RN2
£320K06/210.55 miChy-an-coth, Laflouder Lane, Mullion, Helston, Cornwall TR12 7HT2
£320K06/210.56 mi88, Laflouder Fields, Mullion, Helston, Cornwall TR12 7EJ2
£290K06/211.1 miTregweath, Churchtown, Cury, Helston, Cornwall TR12 7BW2
£331K07/231.1 miTregweath, Churchtown, Cury, Helston, Cornwall TR12 7BW2
£166K10/201.28 miGlen Cottage, White Cross, Cury, Helston, Cornwall TR12 7BH2
£155K10/201.32 mi8, Mullion Cove Bungalows, Mullion, Helston, Cornwall TR12 7ER2
£255K11/201.89 miLittle Oaks, Nantithet, Cury, Helston, Cornwall TR12 7RB2

Local Rents

12 rents from £550/mo to £1.8K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£70009/240.27 miTreveglos Court, Lender Lane, Mullion, Helston1
£1,20002/250.37 mi-2
£82509/240.63 mi-2
£95003/250.63 mi-2
£1,80009/240.64 mi-4
£1,45001/251.22 mi-3
£1,40009/241.22 mi-3
£1,10009/241.79 mi-1
£90009/241.88 miCury, Helston2
£1,15012/241.9 mi-2
£55009/241.9 mi-1
£1,15012/241.9 mi-2

Local Area Statistics

Population in TR12

9,482

Population in Helston

29,289

Town centre distance

4.91 miles away

Nearest school

0.40 miles away

Nearest train station

10.72 miles away

 

 

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+64%

Property History

Listed for £325,000

June 25, 2024

Floor Plans

Description

  • CHARACTER COTTAGE +
  • SITUATED IN QUIET COUNTRY LANE +
  • IN NEED OF SOME UPDATING +
  • GARDEN AND PARKING +

This charming cottage although in need of some updating to realise its full potential, offers the basis of a nice family home in this lovely rural setting, it benefits from oil fired central heating and double glazing.

The accommodation in brief provides on the ground floor, a lounge, snug, kitchen/diner, shower room. Whilst on the first floor there are two bedrooms and a family bathroom. To the front of the property there is parking, garden and at the rear being a real feature of the property, is a garden of generous proportions.

Mullion itself is the largest village on The Lizard Peninsula which is home to Britains's most southerly point. It is officially designated as an area of outstanding natural beauty, from sheltered valleys to moorland with superb countryside and framed by its rugged coastline. Mullion is a bustling village offering a good range of facilities including shops, Co-operative supermarket, well regarded primary and comprehensive schools and a nursery. The village is home to an attractive harbour, a beach at Polurrian Cove, health centre and pharmacy. The Polurrian Hotel has a leisure club with indoor swimming pool and the newly refurbished Mullion Cove Hotel also has spa facilities. Nearby is the beautiful sandy beach at Poldhu and a super 18 hole links golf course.
More extensive amenities are available in the nearby town of Helston, some six miles distant, with supermarkets and national stores.

THE ACCOMMODATION COMPRISES (DIMENSIONS APPROX)
Part glazed door to

LOUNGE 3.67M X 3.29M (12'0" X 10'9" )
With window to the front aspect, beamed ceilings and a fireplace set on a tiled hearth and surround (not known if in working order), understairs storage cupboard. With door to

SNUG 4.57M X 2.80M (14'11" X 9'2" )
With windows to both the front and rear aspect. Fireplace set on a stone hearth and surround (not known if in working order), two shelved alcoves.

From the lounge a glazed door leads back to

INNER HALLWAY
With stairs rising to the first floor and door to a shelved pantry style cupboard.

SHOWER ROOM
With glazed tiled walk-in shower cubicle with Myra electric shower over, close coupled W.C. and window to the side aspect.

KITCHEN/DINER 5.42M X 4M (MAX MEASUREMENTS)
(17'9" X 13'1" (MAX MEASUREMENTS)
With fitted kitchen comprising stone effect worktops with a number of base and drawer units under, wall units over, spaces provided for a washing machine, fridge/freezer and cooker. With windows to both the side aspects. With door to

REAR PORCH
With coat hanging space.

From the inner hallway, stairs rise to

FIRST FLOOR LANDING
With a window to the rear aspect overlooking the garden and doors to

BEDROOM ONE 3.55M X 2.84M (11'7" X 9'3")
With a number of built-in wardrobes, window to the front aspect.

BEDROOM TWO 4.54M X 2.59M NARROWING TO 1.94M (14'10" X 8'5" NARROWING TO 6'4" )
With wooden floors, beam effect ceiling and window to the front aspect.

BATHROOM
Comprising suite with panelled bath, W.C., wash handbasin with tiled splashback and a number of cupboards with slatted shelving.

OUTSIDE
There is a garden to the front of the property and driveway to the side with parking for at least two vehicles. Leading to

REAR GARDEN
A real feature of this property and of generous proportions. Nicely enclosed by hedging and is planted with trees and shrubs. At the rear of the property there is a hard landscaped seating area and the oil fired boiler is housed outside at the rear.

SERVICES
Mains water and electricity. Oil fired central heating. Private drainage.

MOBILE AND BROADBAND
To check the broadband coverage for this property please refer to the brochure.

COUNCIL TAX
Council Tax Band C.

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.

Agent Details

Christophers, Helston

01326 331637

Next Steps?

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