2 Bed Terraced House, Cash/Bridging Only, Ipswich, IP2 8EU, £120,000

30 Stoke Bridge Maltings, Dock Street, Ipswich, IP2 8EU - 4 views - 9 months ago

Sold STC
Leasehold
Cash
ROI: 6%
69 m²
+14 photos

ValuationFair Value

Sold Prices£100K - £260K
Sold Prices/m²£1.3K/m² - £3.8K/m²

 

 

Square Metres

68.60 m²
Price/m²£1.7K/m²

Value Estimate

£120,000

 

 

End Value (After Refurb)

£155,909

Uplift in Value

+30%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£4,800

Refurb Costs

£32,123

Bridging Loan Interest

£3,150

Total Cash In

£71,823

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£155,909

Mortgage (After Refinance)

£116,932

Mortgage LTV

75%

Cash Released

£26,932

Cash Left In

£44,891

Equity

£38,977

Rent Range

£795 - £4,000

Rent Estimate

£1,082

Running Costs/mo

£724

Cashflow/mo

£358

Cashflow/yr

£4,301

ROI

6%

Gross Yield

11%

Local Sold Prices

50 sold prices from £100K to £260K, average is £169.3K. £1.3K/m² to £3.8K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£220K02/230.14 mi18, Seymour Road, Ipswich, Suffolk IP2 8EN2
£100K12/220.17 mi23, Bulstrode Road, Ipswich, Suffolk IP2 8HA2
£167K12/200.17 mi2, Littles Crescent, Ipswich, Suffolk IP2 8DP2
£203K11/220.17 mi52, Littles Crescent, Ipswich, Suffolk IP2 8DP2
£148K10/200.17 mi24, Rectory Road, Ipswich, Suffolk IP2 8EH2
£130K02/210.19 mi4, Ashley Street, Ipswich, Suffolk IP2 8DS2
£135K06/210.2 mi10, Pauline Street, Ipswich, Suffolk IP2 8DN2
£145K06/210.2 mi1, Ashley Street, Ipswich, Suffolk IP2 8DS2
£143K07/210.21 mi31, Pauline Street, Ipswich, Suffolk IP2 8DN2
£143K07/210.21 mi31, Pauline Street, Ipswich, Suffolk IP2 8DN2
£125K11/220.21 mi17, Pauline Street, Ipswich, Suffolk IP2 8DN2
£120K10/200.21 mi14, Pauline Street, Ipswich, Suffolk IP2 8DN2
£170K07/230.21 mi18, Philip Road, Ipswich, Suffolk IP2 8BH2
£112K06/230.21 mi30, Tyler Street, Ipswich, Suffolk IP2 8HF2
£123K05/210.22 mi20, Turin Street, Ipswich, Suffolk IP2 8DQ2
£215K02/230.23 mi88, Rectory Road, Ipswich, Suffolk IP2 8EQ2
£121.5K05/210.23 mi33, Pauline Street, Ipswich, Suffolk IP2 8DN2
£167.5K05/230.25 mi11, Bradley Street, Ipswich, Suffolk IP2 8DU2
£163K02/210.25 mi26, Philip Road, Ipswich, Suffolk IP2 8BQ2
£130K10/220.26 mi62, Pauline Street, Ipswich, Suffolk IP2 8DL2
£225K12/220.27 mi35, Martin Road, Ipswich, Suffolk IP2 8BJ2
£177.5K07/210.28 mi5, Brickfield Close, Ipswich, Suffolk IP2 8HJ2
£140K12/200.36 mi104, Wherstead Road, Ipswich, Suffolk IP2 8JP2
£170K07/210.43 mi16, Sinclair Drive, Ipswich, Suffolk IP2 8HZ2
£140K03/230.49 mi24, Maidenhall Approach, Ipswich, Suffolk IP2 8NX2
£152K10/200.54 mi18, Cowell Street, Ipswich, Suffolk IP2 8LA2
£212K08/210.57 mi141, Back Hamlet, Ipswich, Suffolk IP3 8AW2
£160K03/210.57 mi70, Woodbridge Road, Ipswich, Suffolk IP4 2NG2
£168.5K01/210.57 mi13, Cobbold Street, Ipswich, Suffolk IP4 2DN2
£230K07/230.61 mi46, St Georges Street, Ipswich, Suffolk IP1 3LH2
£180K02/210.65 mi176, Ranelagh Road, Ipswich, Suffolk IP2 0AB2
£200K12/220.65 mi49, Ranelagh Road, Ipswich, Suffolk IP2 0AD2
£130K10/200.65 mi29, Ranelagh Road, Ipswich, Suffolk IP2 0AD2
£130K11/200.65 mi24, Cemetery Road, Ipswich, Suffolk IP4 2EP2
£190K04/210.66 mi12, Arthurs Terrace, Ipswich, Suffolk IP4 2NN2
£200K08/210.66 mi154, Heatherhayes, Ipswich, Suffolk IP2 9SG2
£240K02/230.66 mi129, Heatherhayes, Ipswich, Suffolk IP2 9SG2
£165K05/230.69 mi20, Hervey Street, Ipswich, Suffolk IP4 2ES2
£226K12/220.69 mi53, High Street, Ipswich, Suffolk IP1 3QL2
£260K03/230.7 mi2, Yew Court, Ipswich, Suffolk IP2 9TU2
£230K12/200.7 mi21, Palmerston Road, Ipswich, Suffolk IP4 2NU2
£190K11/210.71 mi12, Mitre Way, Ipswich, Suffolk IP3 8DH2
£215K02/230.71 mi20, Mitre Way, Ipswich, Suffolk IP3 8DH2
£177.5K06/210.71 mi6, Mitre Way, Ipswich, Suffolk IP3 8DH2
£177.5K06/230.71 mi7, Finchley Road, Ipswich, Suffolk IP4 2HX2
£148K06/230.71 mi20, Finchley Road, Ipswich, Suffolk IP4 2HX2
£179K06/210.71 mi18, Lancaster Road, Ipswich, Suffolk IP4 2NY2
£211.8K06/230.71 mi62, Bolton Lane, Ipswich, Suffolk IP4 2BY2
£235K06/210.72 mi66, Lacey Street, Ipswich, Suffolk IP4 2PH2
£170K07/210.75 mi71, Hervey Street, Ipswich, Suffolk IP4 2ET2

Local Rents

51 rents from £795/mo to £4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£80004/240.02 miStokebridge Maltings, Ipswich, IP22
£92505/240.07 miStoke Street, IP2, Ipswich2
£95008/240.1 miCranfield Mill, College Street, Ipswich2
£1,05004/240.1 miCollege Street, IPSWICH2
£1,00004/240.1 miFoundry The Mill, College Street, Ipswich2
£89506/240.11 miThe Mill2
£85007/240.12 miThe Mill, College Street, Ipswich, Suffolk, IP42
£1,60004/240.12 miThe Winerack, Penthouse Apartment2
£90004/240.13 miAustin Street, Ipswich, Suffolk2
£90005/240.13 miAustin Street, Ipswich, Suffolk2
£90006/240.13 miAustin Street, Ipswich, Suffolk2
£1,00001/240.13 miKey Street, Ipswich2
£1,10005/240.13 miThe Winerack, Ipswich2
£1,15009/240.13 miThe Winerack, Key Street, Ipswich2
£1,60004/240.14 miKey Street, The Winerack Key Street, IP42
£1,10006/240.14 miKey Street, IPSWICH2
£1,30009/240.14 miKey Street, IPSWICH2
£1,45006/240.14 miWinerack Apartments, Key Street, Ipswich2
£98508/240.14 miStoke Quay, Ipswich2
£98509/240.14 miStoke Quay, Ipswich2
£1,25008/240.16 miThe Shamrock, Ipswich2
£1,00007/240.16 miStoke Quay, IP22
£95008/240.16 miStoke Quay, Ipswich, IP22
£1,20004/240.17 mi-2
£1,27501/250.17 mi-2
£1,12501/240.19 mi44 The Cambria, Regatta Quay, Key Street, Ipswich, Suffolk, IP42
£1,25007/240.19 miThe Cambria, Quay Street, Ipswich, IP42
£1,25007/240.19 miThe Cambria, Quay Street, Ipswich, IP42
£2,60005/240.2 mi-2
£4,00011/240.2 mi-2
£4,00011/240.2 mi-2
£1,00004/240.2 miThe Winerack, Key Street, Ipswich2
£1,20007/240.2 miThe Winerack, Key Street, Ipswich2
£1,00007/240.2 miThe Winerack, Key Street, Ipswich2
£1,15007/240.2 miThe Winerack, Key Street, Ipswich2
£1,09508/240.2 miThe Cambria, Key Street, Ipswich2
£1,05008/240.2 miThe Winerack, Key Street, Ipswich2
£90004/240.21 miSt. Peters Street, Ipswich, IP12
£82508/240.21 miPauline Street, Ipswich, IP22
£79506/240.22 miShelley Street, Ipswich, IP22
£90004/240.23 miHartley Street, Ipswich, Suffolk, IP22
£1,15003/250.23 mi-2
£1,10004/240.23 mi-2
£2,69506/240.23 miLower Brook Street, Ipswich2
£1,00001/240.25 miHartley Street, Ipswich2
£1,10008/240.25 miPhilip Road, IPSWICH2
£2,00003/250.26 mi-2
£1,10007/240.26 miMartin Road, Ipswich, IP22
£87504/240.26 miWolsey Street, Ipaxis2
£98505/240.26 miWolsey Street, Ipswich2
£89505/240.26 miWolsey Street, Ipswich2

Local Area Statistics

Population in IP2

30,997

Population in Ipswich

219,393

Town centre distance

0.69 miles away

Nearest school

0.40 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-1%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £120,000

July 10, 2024

Floor Plans

Description

WATERFRONT LOCATION - A beautifully presented TWO DOUBLE BEDROOM 1st floor apartment benefiting from character features including exposed beams, BALCONY with stair access to river terrace, and ALLOCATED PARKING SPACE, situated on the waterfront and convenient for the train station and town centre. Leasehold CASH BUYERS ONLY.

Ipswich - Ipswich is the county town of Suffolk and provides a comprehensive range of educational, commercial and recreational facilities and an excellent link to London Liverpool Street Railway Station (about 70 mins). The town has two shopping centres, shops, restaurants, bars, two multi screen cinemas, music & entertainment venues and many sports clubs and societies. The Waterfront docks has an on going regeneration providing an excellent marina, recently built high tech University & college, restaurants, bars and residential development.

Communal Door To Entrance Hall With Entry System -

1st Floor: - Small communal hall with front door to...

Hallway: - Cupboard with water heater, storage heater, laminated floor, exposed beams, doors off

Open Plan Kitchen/Living Space: - 8.15m x 3.35m (26'9 x 11) - A beautifully presented open plan living space with feature exposed beams. Laminated floor, storage heater, double glazed window to rear. Opens through to kitchen.

KITCHEN:With a range of wall and base units, integrated electric induction hob and oven, dishwasher, worktops, tiled splash backs, sink and drainer, ample drawers, space for appliances, exposed beams and laminated floor.

Bedroom One: - 5.18m x 2.29m (17 x 7'6) - Double glazed window looking over the river, electric panel heater, built in wardrobes, exposed beams and carpet.

Bedroom Two: - 4.65m x 3.20m (15'3 x 10'6) - Doors to a covered BALCONY over looking the waterfront with steps to a sitting area next to the river. Exposed beams, cupboard, laminated floor and electric heater.

Bathroom: - Bath with a mixer shower attachment, separate shower cubicle, W.C, hand wash basin, part panelled walls, exposed beams and electric heater.

Outside: - A private balcony looking onto the waterfront and a further sitting area enjoying the river via steps from your balcony. There is an allocated parking space.

NOTES- 62 years left on the lease -cash buyers only

Service charge £2,384 per year
Ground rent £120 per year

Ipswich Office: - 7 Great Colman Street, Ipswich, IP4 2AA TO VIEW PLEASE CALL or email

Agent Details

Hamilton Smith, Ipswich

01473 943920

Next Steps?

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