3 Bed Terraced House, Refurb/BRRR, Ipswich, IP1 2PT, £300,000

Norwich Road, Ipswich, IP1 2PT - 2 views - 8 months ago

Refurb/BRRR
~93 m²
+6 photos

ValuationOvervalued

Sold Prices£105K - £525K
Sold Prices/m²£1K/m² - £4.6K/m²

 

 

Square Metres

~93 m²
Price/m²£3.2K/m²

Value Estimate

£207,513

 

 

End Value (After Refurb)

£300,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£12,700

Refurb Costs

£43,322

Bridging Loan Interest

£7,875

Total Cash In

£140,647

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£300,000

Mortgage (After Refinance)

£225,000

Mortgage LTV

75%

Cash Left In

£140,647

Equity

£75,000

Rent Range

£900 - £2,200

Rent Estimate

£1,112

Running Costs/mo

£1,180

Cashflow/mo

£-68

Cashflow/yr

£-815

Gross Yield

4%

Local Sold Prices

50 sold prices from £105K to £525K, average is £229.5K. £1K/m² to £4.6K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£205K06/230.08 mi9, Wellington Street, Ipswich, Suffolk IP1 2NT3
£350K03/210.11 mi30, Alpe Street, Ipswich, Suffolk IP1 3NZ3
£325K03/230.11 mi41, Alpe Street, Ipswich, Suffolk IP1 3NZ3
£284K04/210.12 mi25, Alpe Street, Ipswich, Suffolk IP1 3NZ3
£243K02/210.14 mi64, Anglesea Road, Ipswich, Suffolk IP1 3PN3
£285K03/230.14 mi43, Clarkson Street, Ipswich, Suffolk IP1 2JN3
£165K07/210.15 mi11, Wilberforce Street, Ipswich, Suffolk IP1 2JP3
£205K09/210.15 mi36, Waterloo Road, Ipswich, Suffolk IP1 2NY3
£190K10/200.15 mi30, Waterloo Road, Ipswich, Suffolk IP1 2NY3
£240K01/230.15 mi20, Waterloo Road, Ipswich, Suffolk IP1 2NY3
£167.5K08/210.16 mi4, Cardigan Street, Ipswich, Suffolk IP1 3PF3
£147K09/210.17 mi57, Sirdar Road, Ipswich, Suffolk IP1 2LD3
£178K07/210.17 mi120, Bramford Road, Ipswich, Suffolk IP1 2LL3
£144.2K07/210.19 mi61, Sirdar Road, Ipswich, Suffolk IP1 2LB3
£340K07/210.19 mi6, Valley Road, Ipswich, Suffolk IP1 4ED3
£236.5K03/210.21 mi66, Newson Street, Ipswich, Suffolk IP1 3NY3
£195K09/210.21 mi86, Victoria Street, Ipswich, Suffolk IP1 2JX3
£130K03/230.22 mi3, Surrey Road, Ipswich, Suffolk IP1 2LE3
£121K12/200.23 mi23, Chevallier Street, Ipswich, Suffolk IP1 2PF3
£229K07/230.24 mi18, Blenheim Road, Ipswich, Suffolk IP1 4EB3
£230K03/210.24 mi32, Geneva Road, Ipswich, Suffolk IP1 3NP3
£525K10/200.25 mi32, Broughton Road, Ipswich, Suffolk IP1 3QR3
£195K04/230.27 mi7, Bramford Lane, Ipswich, Suffolk IP1 4DB3
£110K04/210.27 mi63, Elliott Street, Ipswich, Suffolk IP1 2HJ3
£425K11/220.27 mi14, Westwood Avenue, Ipswich, Suffolk IP1 4EQ3
£230K01/230.27 mi152, Bramford Road, Ipswich, Suffolk IP1 4AB3
£125K04/210.29 mi179, Bramford Road, Ipswich, Suffolk IP1 4AA3
£460K07/230.31 mi9, Westwood Avenue, Ipswich, Suffolk IP1 4EQ3
£135K03/210.31 mi23, Elliott Street, Ipswich, Suffolk IP1 2HN3
£215K11/210.32 mi59, All Saints Road, Ipswich, Suffolk IP1 4DG3
£260K01/230.32 mi22, All Saints Road, Ipswich, Suffolk IP1 4DG3
£220K03/210.32 mi39, All Saints Road, Ipswich, Suffolk IP1 4DG3
£185K02/210.32 mi31, All Saints Road, Ipswich, Suffolk IP1 4DG3
£300K11/200.33 mi21, Warrington Road, Ipswich, Suffolk IP1 3QU3
£233K12/220.33 mi75, Bramford Lane, Ipswich, Suffolk IP1 4DF3
£167K08/210.34 mi27, Beaconsfield Road, Ipswich, Suffolk IP1 4AD3
£252.3K12/220.35 mi29, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£250K06/210.35 mi28, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£183K04/210.35 mi59, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£305K09/220.35 mi32, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£240K02/230.35 mi11, Beaconsfield Road, Ipswich, Suffolk IP1 4AD3
£265K07/230.39 mi35, Tower Mill Road, Ipswich, Suffolk IP1 4QF3
£175K08/210.39 mi41, Windsor Road, Ipswich, Suffolk IP1 4AN3
£185K11/210.39 mi90, Bramford Lane, Ipswich, Suffolk IP1 4DQ3
£216.5K11/220.39 mi92, Bramford Lane, Ipswich, Suffolk IP1 4DQ3
£265K04/230.4 mi59, High Street, Ipswich, Suffolk IP1 3QL3
£105K07/210.41 mi6, Firmin Close, Ipswich, Suffolk IP1 2BF3
£360K12/200.41 mi54, Warrington Road, Ipswich, Suffolk IP1 3RE3
£240K09/210.43 mi30, Dhobi Place, Ipswich, Suffolk IP1 4QA3
£250K02/230.43 mi61, Richmond Road, Ipswich, Suffolk IP1 4DW3

Local Rents

24 rents from £900/mo to £2.2K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,00005/240.1 miBulwer Road, Ipswich3
£1,00005/240.1 miBulwer Road3
£1,20012/240.12 mi-3
£1,20003/250.12 mi-3
£1,25003/240.17 mi-3
£1,15002/240.18 mi-3
£98504/240.19 mi-3
£99506/240.25 miDillwyn Street West, Ipswich3
£99506/240.25 miDillwyn Street West, Ipswich3
£1,25005/240.29 mi-3
£95003/240.31 miElliott Street, Ipswich3
£1,45004/240.35 miBroom Hill Road, IPSWICH3
£1,15003/250.39 mi-3
£1,12504/240.39 miBramford Lane, IPSWICH3
£2,20003/250.45 mi-3
£1,25004/240.52 miMuseum Street, Ipswich3
£1,29505/240.52 miPine Avenue, Ipswich3
£1,20003/240.54 miCurriers Lane, Ipswich3
£92504/240.55 miBramford Lane, Ipswich3
£1,19504/240.56 miBramford Road, Ipswich, Suffolk, IP13
£1,00006/240.56 miBramford Road, Ipswich3
£90003/240.56 miBramford Road, Ipswich3
£1,25006/240.59 miPutney Close, IPSWICH3
£95004/240.6 miKingston Road, Ipswich3

Local Area Statistics

Population in IP1

39,363

Population in Ipswich

219,393

Town centre distance

1.15 miles away

Nearest school

0.20 miles away

Nearest train station

0.82 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+50%

Sales demand

Balanced market

Capital growth (5yrs)

+29%

Property History

Listed for £300,000

August 8, 2024

Floor Plans

Description

  • Three Bedrooms +
  • First Floor Bathroom +
  • Ground Floor Shower Room (not installed) +
  • Three Reception Rooms +
  • Good Sized Entrance Hall +
  • Off Road Parking +
  • No Onward Chain +
  • Call To View +

OPEN HOUSE - Saturday 24th August from 12pm- 2pm. Situated in the heart of Ipswich town centre, this charming three-bedroom terraced Victorian property exudes character while offering modern conveniences. The prime location places you within walking distance of an array of shops, restaurants, and cultural attractions, making urban living both comfortable and vibrant.

THE PROPERTY REQUIRES MODERNISATION

As you step inside, you are welcomed into a spacious hallway that leads to two inviting reception rooms. The first reception room, located at the front of the property, features large sash windows that allow natural light to fill the space, creating a warm and welcoming atmosphere. This room is ideal for use as a formal living area or a cozy family lounge. The second reception room, equally generous in size, offers flexibility for use as a dining room, additional sitting area, or even a home office.

The property’s well-appointed kitchen is located at the rear, seamlessly blending classic Victorian charm with contemporary fittings. With ample counter space and storage, the kitchen is designed to cater to all your culinary needs. Adjacent to the kitchen is a convenient downstairs shower room, a practical addition that enhances the functionality of the home.

Upstairs, the property boasts three well-sized bedrooms, each radiating the timeless appeal of Victorian architecture. The master bedroom, positioned at the front, is particularly spacious and features elegant detailing. The two additional bedrooms are also generously proportioned, offering comfortable living spaces that can be adapted to suit your needs, whether for family, guests, or a study.

The outdoor space includes a private rear garden, providing a peaceful retreat from the hustle and bustle of town centre life. The garden is perfect for relaxing, gardening, or enjoying outdoor meals during warmer months.

This three-bedroom terraced Victorian property in Ipswich town centre combines historic charm with modern amenities. The inclusion of two reception rooms and a downstairs shower room adds to its appeal, making it an ideal choice for those seeking a distinctive home in a vibrant and convenient location.

Agent Details

haart, Ipswich

01473 943783

Next Steps?

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