2 Bed Flat, Potential PLO/LOA, Ipswich, IP1 1PS, £90,000

11 Coytes Gardens, Ipswich, Suffolk, IP1 1PS - 10 views - 8 months ago

Sold STC

Leasehold

Negative Equity

ROI: 9%

62 m²

+7 photos

ValuationUndervalued

Sold Prices	£105K - £322.5K
Sold Prices/m²	£1.5K/m² - £4.3K/m²

Square Metres	62 m²
Price/m²	£1.5K/m²
Value Estimate	£111,600£111,600
BMV	24%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£22,500£22,500
Stamp Duty & Legal Fees	£3,900£3,900
Total Cash In	£26,400£26,400

Cash Out
Rent Range	£492 - £3,600£492 - £3,600
Rent Estimate	£634
Running Costs/mo	£428£428
Cashflow/mo	£206£206
Cashflow/yr	£2,471£2,471
ROI	9%9%
Gross Yield	8%8%

Local Sold Prices

50 sold prices from £105K to £322.5K, average is £135K. £1.5K/m² to £4.3K/m², average is £2.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£161K	09/21	0.05 mi	15, St Nicholas Court, Ipswich, Suffolk IP1 1TG	£1,789	90	2	Flat
£150K	02/21	0.15 mi	72, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,174	69	2	Flat
£162.5K	04/21	0.15 mi	58, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,500	65	2	Flat
£170K	06/21	0.15 mi	54, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,017	84	2	Flat
£122.5K	03/21	0.15 mi	92, Wolsey Street, Ipswich, Suffolk IP1 1AF	£1,801	68	2	Flat
£167.5K	11/22	0.36 mi	Flat F, 26, Fonnereau Road, Ipswich, Suffolk IP1 3JP	£3,213	52	2	Flat
£115K	08/21	0.4 mi	18, Silk Street, Ipswich, Suffolk IP4 2PA	£1,716	67	2	Flat
£134K	10/22	0.41 mi	16, Silk Street, Ipswich, Suffolk IP4 2PA	£1,887	71	2	Flat
£108K	11/21	0.44 mi	88, Vernon Street, Ipswich, Suffolk IP2 8JB	£1,742	62	2	Flat
£137.5K	04/23	0.49 mi	31, Seymour Road, Ipswich, Suffolk IP2 8EN	£2,500	55	2	Flat
£320K	04/21	0.51 mi	155, Stoke Quay, Ipswich, Suffolk IP2 8SN	£2,991	107	2	Flat
£322.5K	06/23	0.52 mi	51, Neptune Square, Ipswich, Suffolk IP4 1QH	£4,300	75	2	Flat
£315K	07/23	0.52 mi	39, Neptune Square, Ipswich, Suffolk IP4 1QH	£4,297	73	2	Flat
£290K	02/21	0.52 mi	51, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,867	75	2	Flat
£167K	01/21	0.52 mi	10, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,199	52	2	Flat
£255K	06/21	0.52 mi	48, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,400	75	2	Flat
£137K	12/21	0.55 mi	70, Compair Crescent, Ipswich, Suffolk IP2 0EH	£2,175	63	2	Flat
£139K	11/22	0.56 mi	53, Reavell Place, Ipswich, Suffolk IP2 0ET	-	-	2	Flat
£127K	09/21	0.56 mi	4, Compair Crescent, Ipswich, Suffolk IP2 0EH	-	-	2	Flat
£135K	02/23	0.56 mi	58, Compair Crescent, Ipswich, Suffolk IP2 0EH	-	-	2	Flat
£140K	03/23	0.56 mi	68, Compair Crescent, Ipswich, Suffolk IP2 0EH	£1,944	72	2	Flat
£130K	11/22	0.57 mi	62, Compair Crescent, Ipswich, Suffolk IP2 0EH	-	-	2	Flat
£142K	05/23	0.58 mi	49, Cullingham Road, Ipswich, Suffolk IP1 2EG	£2,630	54	2	Flat
£121K	05/21	0.59 mi	50, Holman Court, Ipswich, Suffolk IP2 0ES	£2,051	59	2	Flat
£137.5K	10/22	0.59 mi	42, Holman Court, Ipswich, Suffolk IP2 0ES	£2,304	60	2	Flat
£121K	05/21	0.59 mi	50, Holman Court, Ipswich, Suffolk IP2 0ES	£2,051	59	2	Flat
£130K	05/21	0.59 mi	46, Holman Court, Ipswich, Suffolk IP2 0ES	£2,167	60	2	Flat
£132.5K	02/21	0.59 mi	6, Holman Court, Ipswich, Suffolk IP2 0ES	£2,137	62	2	Flat
£120K	02/23	0.59 mi	34, Holman Court, Ipswich, Suffolk IP2 0ES	-	-	2	Flat
£105K	11/21	0.6 mi	47, Bramford Road, Ipswich, Suffolk IP1 2LU	-	-	2	Flat
£135K	03/23	0.6 mi	125, Cemetery Road, Ipswich, Suffolk IP4 2HZ	-	-	2	Flat
£150K	10/22	0.61 mi	95, Compair Crescent, Ipswich, Suffolk IP2 0EJ	-	-	2	Flat
£123.5K	10/20	0.61 mi	117, Compair Crescent, Ipswich, Suffolk IP2 0EJ	£2,470	50	2	Flat
£110K	04/21	0.61 mi	101, Compair Crescent, Ipswich, Suffolk IP2 0EJ	£1,803	61	2	Flat
£137.5K	12/22	0.62 mi	54, Holman Court, Ipswich, Suffolk IP2 0ES	£2,218	62	2	Flat
£190.5K	09/21	0.64 mi	Flat 3, Burlingham House, Ancaster Road, Ipswich, Suffolk IP2 9AJ	-	-	2	Flat
£115K	09/21	0.68 mi	42, Wellington Street, Ipswich, Suffolk IP1 2NZ	£1,797	64	2	Flat
£151.5K	12/20	0.68 mi	53, Pownall Road, Ipswich, Suffolk IP3 0DN	£2,658	57	2	Flat
£133K	09/22	0.7 mi	93, Pownall Road, Ipswich, Suffolk IP3 0DA	£1,900	70	2	Flat
£120K	01/23	0.71 mi	Flat B, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS	£2,256	53	2	Flat
£135K	11/21	0.71 mi	6, Bruff Road, Ipswich, Suffolk IP2 8GY	£2,318	58	2	Flat
£120K	04/21	0.72 mi	56, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,034	59	2	Flat
£128K	07/21	0.72 mi	64, Pownall Road, Ipswich, Suffolk IP3 0DR	£1,882	68	2	Flat
£130K	11/20	0.72 mi	48, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,321	56	2	Flat
£128K	07/21	0.72 mi	64, Pownall Road, Ipswich, Suffolk IP3 0DR	£1,882	68	2	Flat
£135K	05/23	0.72 mi	46, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,252	60	2	Flat
£140K	11/21	0.73 mi	239, Duke Street, Ipswich, Suffolk IP3 0BX	-	-	2	Flat
£125.5K	05/21	0.73 mi	42, Siloam Place, Ipswich, Suffolk IP3 0FB	£1,476	85	2	Flat
£140K	12/22	0.73 mi	32, Siloam Place, Ipswich, Suffolk IP3 0FB	£2,373	59	2	Flat
£119K	10/20	0.73 mi	22, Siloam Place, Ipswich, Suffolk IP3 0FB	£2,644	45	2	Flat

Local Rents

50 rents from £492/mo to £3.6K/mo, average is £963/mo.

Rent	Date	Distance	Address	Beds	Type
£995	04/24	0.04 mi	-	2	Flat
£950	04/24	0.04 mi	Princes Street, Ipswich, IP1	2	Flat
£1,200	05/24	0.04 mi	Elm Street, Ipswich	2	Flat
£900	04/24	0.05 mi	Museum Street, 9 Museum Street, IP1	2	Flat
£995	04/24	0.06 mi	2-3 Friars Courtyard, 30-32 Princes Street, Ipswich, Suffolk, IP1	2	Flat
£1,100	05/24	0.06 mi	Arcade Street, IPSWICH	2	Flat
£695	04/24	0.07 mi	Princes Street, Ipswich, IP1	2	Flat
£1,100	04/24	0.07 mi	Arcade Street, Ipswich	2	Flat
£1,100	04/24	0.07 mi	Museum Street, Ipswich	2	Flat
£1,200	05/24	0.07 mi	Museum Street, IPSWICH	2	Flat
£1,200	06/24	0.08 mi	Museum Street, Ipswich	2	Flat
£850	05/24	0.13 mi	Heart of Town Centre	2	Flat
£875	04/24	0.14 mi	Wolsey Street, Ipaxis	2	Flat
£985	05/24	0.14 mi	Wolsey Street, Ipswich	2	Flat
£895	05/24	0.14 mi	Wolsey Street, Ipswich	2	Flat
£975	06/24	0.15 mi	Footmans, Lloyd Avenue	2	Flat
£1,100	04/24	0.16 mi	-	2	Flat
£2,000	03/25	0.17 mi	-	2	Flat
£995	04/24	0.17 mi	-	2	Flat
£900	04/24	0.18 mi	St. Peters Street, Ipswich, IP1	2	Flat
£950	04/24	0.18 mi	Upper Brook Street, IPSWICH	2	Flat
£825	08/24	0.21 mi	Tacket Street, Ipswich	2	Flat
£800	08/24	0.21 mi	Town Centre Apartment, Ipswic	2	Flat
£825	07/24	0.21 mi	Town Centre Apartment, Ipswich	2	Flat
£2,695	06/24	0.22 mi	Lower Brook Street, Ipswich	2	Semi-Detached House
£795	05/24	0.23 mi	St. Georges Street, IPSWICH	2	Flat
£875	01/24	0.26 mi	-	2	Flat
£995	01/24	0.26 mi	Colman Gardens, 15 Great Colman Street, Ipswich, Suffolk, IP4	2	Flat
£900	06/24	0.26 mi	Great Colman Street, Colman Gardens, Ipswich, Suffolk, IP4	2	Flat
£825	07/24	0.28 mi	Flat 705, Carr Street, Ipswich	2	Flat
£3,600	05/24	0.28 mi	-	2	Flat
£3,600	10/24	0.28 mi	-	2	Flat
£492	04/24	0.29 mi	-	2	Flat
£895	06/24	0.29 mi	The Mill	2	Flat
£895	04/24	0.3 mi	Foundation Street, Ipswich, IP4	2	Flat
£895	04/24	0.3 mi	Foundation Street, Ipswich, IP4	2	Flat
£1,050	08/24	0.3 mi	Foundation Street, IPSWICH	2	Flat
£1,150	04/24	0.31 mi	Portman Road, Ipswich, Suffolk, IP1	2	Flat
£532	10/24	0.31 mi	-	2	Flat
£527	06/24	0.31 mi	-	2	Terraced House
£1,050	04/24	0.32 mi	College Street, IPSWICH	2	Flat
£975	05/24	0.32 mi	Foundation Street, Ipswich	2	Flat
£1,000	04/24	0.32 mi	Foundry The Mill, College Street, Ipswich	2	Flat
£950	08/24	0.32 mi	Cranfield Mill, College Street, Ipswich	2	Flat
£950	01/24	0.34 mi	Lower Orwell Street, Ipswich, IP4	2	House
£850	07/24	0.34 mi	The Mill, College Street, Ipswich, Suffolk, IP4	2	Flat
£825	05/24	0.35 mi	Berners Street, IP1	2	Flat
£1,000	01/24	0.35 mi	Key Street, Ipswich	2	Flat
£1,100	05/24	0.35 mi	The Winerack, Ipswich	2	Flat
£1,150	09/24	0.35 mi	The Winerack, Key Street, Ipswich	2	Flat

Local Area Statistics

Population in IP1	39,36339,363
Population in Ipswich	219,393219,393
Town centre distance	0.67 miles away0.67 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.50 miles away0.50 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+50%+50%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+29%+29%

Property History

Listed for £90,000

-89%

August 23, 2024

Sold for £170,000

2006

Floor Plans

Description

GUIDE PRICE: £90,000 to £100,000 +
Heart of Ipswich Town Centre +
Top Floor Apartment +
Two Good Size Double Bedrooms +
18ft Living Room +
Spacious Accommodation +
Gas Central Heating +

* GUIDE PRICE: £90,000 to £100,000 *

Situated in the heart of Ipswich town centre lies this nicely presented and spacious two bedroom top floor apartment which benefits from gas central heating. As agents, we recommend the earliest possible internal viewing to appreciate the quality of accommodation on offer which comprises entrance hall, 18ft living room, kitchen, two good size double bedrooms, and bathroom.

Leasehold information:
Lease – 125 years from 1.10.2004
Ground rent - £100 per annum
Service charge - £2165 per annum (For the last 12 months)

The county town of Ipswich offers a range of local amenities including schools, university, shops, doctors, dental surgeries, hospital, two theatres, parks including the popular Orwell Country Park, recreational facilities, and mainline railway station providing direct links to London Liverpool Street Station. The vibrant waterfront has undergone an extensive rebuilding and gentrification programme and now boasts some fashionable bars and restaurants, together with the University of Suffolk.

Council tax band: B
EPC Rating: C

Agent Details

Palmer & Partners, Suffolk

01473 211705

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.