2 Bed Flat, Single Let, Hayle, TR27 4BQ, £185,000

1 Penpol Terrace, Hayle, TR27 4BQ, UK - 9 months ago

Sold STC

Leasehold

BTL

ROI: 4%

~61 m²

+11 photos

ValuationUndervalued

Sold Prices	£135K - £525K
Sold Prices/m²	£2.6K/m² - £9K/m²

Square Metres	~61.10 m²
Price/m²	£3K/m²
Value Estimate	£222,000£222,000
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£46,250£46,250
Stamp Duty & Legal Fees	£6,750£6,750
Total Cash In	£53,000£53,000

Cash Out
Rent Range	£795 - £2,700£795 - £2,700
Rent Estimate	£950
Running Costs/mo	£788£788
Cashflow/mo	£162£162
Cashflow/yr	£1,943£1,943
ROI	4%4%
Gross Yield	6%6%

Local Sold Prices

18 sold prices from £135K to £525K, average is £228.8K. £2.6K/m² to £9K/m², average is £4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£190K	11/21	0.09 mi	59a, Penpol Terrace, Hayle, Cornwall TR27 4BQ	-	-	2	Flat
£195K	11/21	0.09 mi	59b, Penpol Terrace, Hayle, Cornwall TR27 4BQ	£2,592	75	2	Flat
£200K	12/21	0.17 mi	Flat 6, Bayview Court, Bay View Terrace, Hayle, Cornwall TR27 4JY	£3,828	52	2	Flat
£180K	11/21	0.46 mi	Flat 2, Malthouse Court, Sea Lane, Hayle, Cornwall TR27 4DU	-	-	2	Flat
£180K	11/21	0.47 mi	Flat 2, Malthouse Court, Sea Lane, Hayle, Cornwall TR27 4DU	-	-	2	Flat
£186K	07/23	0.54 mi	Flat 8, St. Johns Court, St Johns Street, Hayle, Cornwall TR27 4LN	-	-	2	Flat
£200K	09/22	0.54 mi	Flat 1, St. Johns Court, St Johns Street, Hayle, Cornwall TR27 4LN	-	-	2	Flat
£135K	04/21	0.68 mi	Flat 3, St Georges Hall, Market Square, Hayle, Cornwall TR27 4BN	-	-	2	Flat
£265K	02/22	1.11 mi	9, Gadwall Rise, Hayle, Cornwall TR27 6GP	£3,786	70	2	Flat
£292.5K	11/22	1.11 mi	7, Gadwall Rise, Hayle, Cornwall TR27 6GP	£4,239	69	2	Flat
£257.5K	09/22	1.78 mi	6 Rotorua Apartments, Trencrom Lane, Carbis Bay, St Ives, Cornwall TR26 2TD	-	-	2	Flat
£525K	12/20	1.82 mi	Flat 5, Gwel Marten, Headland Road, Carbis Bay, St. Ives, Cornwall TR26 2PB	-	-	2	Flat
£323K	10/21	1.93 mi	Tresco, Poldhu Close, Carbis Bay, St. Ives, Cornwall TR26 2SJ	-	-	2	Flat
£342K	02/23	2.09 mi	5, Godrevy Court, Carbis Bay, St Ives, Cornwall TR26 2RL	£6,706	51	2	Flat
£379K	11/23	2.79 mi	Primrose Court, Flat 12, Primrose Valley, St Ives, Cornwall TR26 2ED	£9,024	42	2	Flat
£399.9K	01/21	2.89 mi	Flat 1, Cordyline Croft, The Belyars, St Ives, Cornwall TR26 2GQ	-	-	2	Flat
£195K	02/21	2.91 mi	Flat 5, Lansdowne, The Belyars, St. Ives, Cornwall TR26 2DA	-	-	2	Flat
£295K	10/22	2.93 mi	Flat 3, Stone Court, Albert Road, St Ives, Cornwall TR26 2EH	-	-	2	Flat

Local Rents

14 rents from £795/mo to £2.7K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,400	11/23	0.16 mi	-	2	Flat
£2,400	11/23	0.16 mi	-	2	Flat
£2,700	02/24	0.16 mi	-	2	Flat
£2,400	01/24	0.16 mi	-	2	Flat
£2,700	05/24	0.16 mi	-	2	Flat
£950	10/24	0.21 mi	Station Hill, Hayle	2	Flat
£1,000	10/24	0.24 mi	Harveys Yard, Hayle	2	Terraced House
£1,500	10/24	0.26 mi	North Quay, Hayle, Cornwall	2	Flat
£1,600	10/24	0.26 mi	Apartment 24, The Yard, North Quay, TR27 4FX	2	Flat
£1,650	10/24	0.26 mi	Apartment 20, The Yard, North Quay, TR27 4FX	2	Flat
£950	12/24	0.36 mi	-	2	Terraced House
£950	10/24	0.36 mi	-	2	Terraced House
£950	12/24	0.36 mi	-	2	Terraced House
£795	12/24	0.62 mi	-	2	Flat

Local Area Statistics

Population in TR27	14,77614,776
Town centre distance	0.48 miles away0.48 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	0.17 miles away0.17 miles away

Rental growth (12m)	+9%+9%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+43%+43%

Property History

Listed for £185,000

July 1, 2024

Floor Plans

Description

GROUND FLOOR TWO BEDROOM APARTMENT +
GAS CENTRAL HEATING +
VIEWS ACROSS HAYLE HARBOUR +
CLOSE TO ALL LOCAL AMENITIES +
NO ONWARD CHAIN +
ALLOCATED PARKING +

* NEW INSTRUCTION*
A great opportunity to purchase this well presented, ground floor, two bedroom apartment, with open plan living accommodation, offering Harbour and distant rural views.
The apartment is centrally located within Hayle town, well placed for all of the local amenities and nearby transport links.
The property benefits from gas central heating, double glazing, an allocated parking space, and no onward chain.
Internal viewing a must!

Double glazed front door opening into...

Entrance Hallway - Wood flooring, radiator, various door leading off, door into...

Open Plan Lounge Kitchen Diner - 5.00m x 3.84m (16'5 x 12'7) - Wood flooring, radiator, 2 double glazed windows to the front offering Harbour views and distant rural views, two wall lights, space for table and chairs.
Kitchen - fitted with a range of shaker stye base and wall mounted units, four ring gas hob, electric oven below, tiled splash back. Gas boiler, space for washing machine, and fridge freezer.

Bathroom - 3.51m x 1.75m (11'6 x 5'9) - Panel enclosed bath, with mains fed shower over, tiled surround, pedestal wash hand basin, tiled splash back, low level w/c, radiator, ceiling mounted extractor fan, wood flooring and built in storage cupboard.

Bedroom 1 - 3.96m x 3.86m (narrowing to 2.59m) (13 x 12'8 (nar - Fitted carpet, radiator, double glazed window to the side with deep window sill.

Bedroom 2 - 3.99m x 3.25m (narrowing to 2.01m) (13'1 x 10'8 (n - Fitted carpet, radiator, double glazed window to the side with deep window sill.

Parking - There is an allocated parking space for one car, situated a short distance from the apartment.

Leasehold - The apartment will benefit from a 999 year lease.
Ground Rent Per Annum = £1
Service Change= TBC once new lease is set up.

Agent Details

Millerson, Hayle

01736 800714

Next Steps?

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

Similar Properties

Like this property? Maybe you'll like these ones close by too.

Sold STC