2 Bed Flat, Single Let, Ipswich, IP1 2BF, £120,000

Firmin Close, Ipswich, IP1 2BF - 9 months ago

Leasehold
BTL
ROI: 9%
~58 m²
+6 photos

ValuationUndervalued

Sold Prices£64K - £320K
Sold Prices/m²£1.7K/m² - £3.2K/m²

 

 

Square Metres

~58.40 m²
Price/m²£2.1K/m²

Value Estimate

£126,957
BMV6%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£7,200

Total Cash In

£37,200

 

 

Cash Out

 

Rent Range

£695 - £1,850

Rent Estimate

£850

Running Costs/mo

£565

Cashflow/mo

£285

Cashflow/yr

£3,420

ROI

9%

Gross Yield

9%

Local Sold Prices

44 sold prices from £64K to £320K, average is £129K. £1.7K/m² to £3.2K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£142K05/230.04 mi49, Cullingham Road, Ipswich, Suffolk IP1 2EG2
£139K11/220.25 mi53, Reavell Place, Ipswich, Suffolk IP2 0ET2
£150K10/220.28 mi95, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£123.5K10/200.29 mi117, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£110K04/210.29 mi101, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£137.5K10/220.29 mi42, Holman Court, Ipswich, Suffolk IP2 0ES2
£121K05/210.29 mi50, Holman Court, Ipswich, Suffolk IP2 0ES2
£130K05/210.29 mi46, Holman Court, Ipswich, Suffolk IP2 0ES2
£132.5K02/210.29 mi6, Holman Court, Ipswich, Suffolk IP2 0ES2
£120K02/230.29 mi34, Holman Court, Ipswich, Suffolk IP2 0ES2
£110K12/200.3 mi184, Yeoman Close, Ipswich, Suffolk IP1 2QB2
£130K11/220.31 mi62, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£121K05/210.31 mi50, Holman Court, Ipswich, Suffolk IP2 0ES2
£137.5K12/220.33 mi54, Holman Court, Ipswich, Suffolk IP2 0ES2
£137K12/210.33 mi70, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£127K09/210.33 mi4, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£135K02/230.33 mi58, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£140K03/230.33 mi68, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£120K11/200.33 mi134, Yeoman Close, Ipswich, Suffolk IP1 2QE2
£120K11/200.33 mi134, Yeoman Close, Ipswich, Suffolk IP1 2QE2
£105K11/210.33 mi47, Bramford Road, Ipswich, Suffolk IP1 2LU2
£115K09/210.38 mi42, Wellington Street, Ipswich, Suffolk IP1 2NZ2
£64K03/230.5 miFlat 510, The Spectrum, Dunlop Road, Ipswich, Suffolk IP2 0UJ2
£150K02/210.54 mi72, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£162.5K04/210.54 mi58, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£170K06/210.54 mi54, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£122.5K03/210.54 mi92, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£161K09/210.56 mi15, St Nicholas Court, Ipswich, Suffolk IP1 1TG2
£115K04/210.56 mi40d, Pickwick Road, Ipswich, Suffolk IP2 0JP2
£115K04/210.56 mi40d, Pickwick Road, Ipswich, Suffolk IP2 0JP2
£190.5K09/210.62 miFlat 3, Burlingham House, Ancaster Road, Ipswich, Suffolk IP2 9AJ2
£167.5K11/220.67 miFlat F, 26, Fonnereau Road, Ipswich, Suffolk IP1 3JP2
£127.8K03/210.68 mi64, Fulham Way, Ipswich, Suffolk IP1 4FD2
£137.5K04/230.8 mi31, Seymour Road, Ipswich, Suffolk IP2 8EN2
£108K11/210.8 mi88, Vernon Street, Ipswich, Suffolk IP2 8JB2
£120K01/230.82 miFlat B, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS2
£123.5K04/210.92 mi32, Maidenhall Approach, Ipswich, Suffolk IP2 8NX2
£320K04/210.93 mi155, Stoke Quay, Ipswich, Suffolk IP2 8SN2
£115K08/210.94 mi18, Silk Street, Ipswich, Suffolk IP4 2PA2
£134K10/220.94 mi16, Silk Street, Ipswich, Suffolk IP4 2PA2
£160K05/230.95 mi35, Sagehayes Close, Ipswich, Suffolk IP2 9SQ2
£135K11/210.97 mi6, Bruff Road, Ipswich, Suffolk IP2 8GY2
£110K12/201 mi88, Bruff Road, Ipswich, Suffolk IP2 8GX2
£128K12/221 mi102, Bruff Road, Ipswich, Suffolk IP2 8GX2

Local Rents

52 rents from £695/mo to £1.9K/mo, average is £938/mo.

RentDateDistanceAddressBeds 
£1,84004/240 mi-2
£1,84006/240 mi-2
£1,84012/240 mi-2
£1,50004/250 mi-2
£1,85004/240 mi-2
£1,40005/240 mi-2
£1,55009/240 mi-2
£1,40011/240 mi-2
£1,40003/250 mi-2
£1,55001/250 mi-2
£85002/250.02 mi-2
£87506/240.04 miCullingham Road, Ipswich, IP12
£86003/240.09 mi-2
£80006/240.11 miLondon Road, Ipswich2
£77504/240.14 miLondon Road, Ipswich, IP12
£1,10011/240.16 mi-2
£1,10011/240.16 mi-2
£95005/240.17 miBurlington Road, Ipswich2
£85006/240.21 mi25 Elm Street, Ipswich, IP12
£69512/230.24 mi-2
£89505/240.25 miGaskell Place, Ipswich2
£87508/240.25 miGaskell Place, IPSWICH2
£1,00005/240.25 miReavell Place, Ipswich2
£95007/240.25 miReavell Place, Ipswich, Suffolk2
£95008/240.25 miReavell Place, Ipswich, Suffolk2
£1,00008/240.25 miReavell Place, IPSWICH2
£95007/240.25 miReavell Place, Ipswich2
£90003/240.26 miBulwer Road, Ipswich, Suffolk, IP12
£90007/240.26 miBroomwade Close, Ipswich2
£98512/240.27 mi-2
£98512/240.27 mi-2
£95007/240.28 miReavall Place, Ipswich2
£95007/240.28 miReavall Place, Ipswich2
£85004/240.28 miRendlesham Road, Ipswich2
£86504/240.28 miCompair Crescent, Ipswich2
£90007/240.29 miCompair Crescent, Ipswich, IP22
£88507/240.29 miHolman Court, Ipswich2
£88508/240.29 miHolman Court, Ipswich2
£89504/240.3 miYeoman Close, Ipswich, IP12
£87505/240.3 miYeoman Close, Ipswich, IP12
£85004/240.31 miRendlesham Road, IP12
£85012/240.32 mi-2
£1,10008/240.32 miRanelagh Road, Ipswich2
£90004/240.33 miRendlesham Road, Ipswich, Suffolk, IP12
£87512/240.33 mi-2
£92503/240.34 mi-2
£92511/240.34 mi-2
£1,15012/240.37 mi-2
£1,80004/250.37 mi-2
£1,15004/240.39 miPortman Road, Ipswich, Suffolk, IP12
£85004/240.41 miAnn Street, Ipswich, IP12
£90005/240.41 miAnn Street, Ipswich, IP12

Local Area Statistics

Population in IP1

39,363

Population in Ipswich

219,393

Town centre distance

1.21 miles away

Nearest school

0.30 miles away

Nearest train station

0.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+50%

Sales demand

Balanced market

Capital growth (5yrs)

+29%

Property History

Listed for £120,000

July 25, 2024

Floor Plans

Description

  • No onward Chain +
  • Walking distance of town centre +
  • Ideal Investment with tenants in situ paying £850 +
  • Allocated parking +
  • Two bedrooms +
  • Modern kichen +
  • Gas fired central heating +
  • Double glazed windows and doors +
  • Recently re-decorated and new flooring. +
  • New bathroom suited recently fitted +

Belvoir! Are pleased to bring to the market this, Two Bedroom, Third Floor Apartment situated to the West side of Ipswich, with good bus routes, nearby shopping outlets and walking distance of the to the town centre. With allocated parking, gas central heating and double glazing, the apartment features large Lounge, Fitted Modern Kitchen, 2 Bedrooms with built-in wardrobe in the Master Bedroom, and Bathroom.  ___________________________________________________ Communal stairs to third floor. Entrance Hall: Built in cupboard Lounge: 4.58m x 3.85m Double glazed window, radiator. Kitchen/diner: 3.16m x 2.91m Range of cupboards, drawers and wall cupboards, work tops, fitted cooker, space for washing machine, space for fridge/freezer, fitted boiler, double glazed window. Bedroom One: 3.57m x 2.91m Double glazed window, radiator, fitted wardrobes. Bedroom Two: 2.91m x 2.32m Double glazed window, radiator. **Bathroom: ** Panelled bath, low level WC, pedestal wash basin, radiator, double glazed window. ____________________________________ Outside: Parking available to the side of the building. **Council Tax Band: ** A Council Tax Band amount:  £1503 **Length of lease: ** 125 years from 2004 Ground Rent: £125 Service charge: £1302.27 ________________________________________ Awaiting approval of the particulars from our vendor. Disclaimers: At Belvoir Ipswich we endeavour to ensure our sales particulars are accurate and reliable, however, they do not constitute or form part of an offer or contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Belvoir and our partners provide a wide range of services to buyers, although you are free to use an alternative provider. For more information simply speak to one of our team today. We can refer you to The Mortgage Advice Bureau for help with finance. We may receive a fee of up to £250.00, if you decide to take a mortgage through them. If you require a solicitor to handle your purchase, then we can refer you to KMA solicitors. We may receive a fee of £100.00, if you decide to use their services. Whilst our referrals come highly recommended, you are free to use alternative providers throughout the process. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation. EPC rating: C. Tenure: Leasehold,

Agent Details

Belvoir, Ipswich

01473 943916

Next Steps?

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