2 Bed Flat, Single Let, Ipswich, IP4 1NF, £50,000

6 St. Edmund House, Rope Walk, Ipswich, Suffolk, IP4 1NF - 3 views - 7 months ago

Sold STC

Leasehold

Auction

BTL

ROI: 27%

98 m²

+10 photos

ValuationUndervalued

Sold Prices	£107.5K - £322.5K
Sold Prices/m²	£1.5K/m² - £4.3K/m²

Square Metres	98 m²
Price/m²	£510/m²
Value Estimate	£60,000£60,000
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£12,500£12,500
Stamp Duty & Legal Fees	£2,700£2,700
Total Cash In	£15,200£15,200

Cash Out
Rent Range	£492 - £3,600£492 - £3,600
Rent Estimate	£647
Running Costs/mo	£306£306
Cashflow/mo	£341£341
Cashflow/yr	£4,096£4,096
ROI	27%27%
Gross Yield	16%16%

Local Sold Prices

50 sold prices from £107.5K 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
£115K	08/21	0.18 mi	18, Silk Street, Ipswich, Suffolk IP4 2PA	£1,716	67	2	Flat
£134K	10/22	0.19 mi	16, Silk Street, Ipswich, Suffolk IP4 2PA	£1,887	71	2	Flat
£322.5K	06/23	0.23 mi	51, Neptune Square, Ipswich, Suffolk IP4 1QH	£4,300	75	2	Flat
£315K	07/23	0.23 mi	39, Neptune Square, Ipswich, Suffolk IP4 1QH	£4,297	73	2	Flat
£290K	02/21	0.23 mi	51, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,867	75	2	Flat
£167K	01/21	0.23 mi	10, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,199	52	2	Flat
£255K	06/21	0.23 mi	48, Neptune Square, Ipswich, Suffolk IP4 1QH	£3,400	75	2	Flat
£133K	09/22	0.29 mi	93, Pownall Road, Ipswich, Suffolk IP3 0DA	£1,900	70	2	Flat
£120K	04/21	0.3 mi	56, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,034	59	2	Flat
£128K	07/21	0.3 mi	64, Pownall Road, Ipswich, Suffolk IP3 0DR	£1,882	68	2	Flat
£130K	11/20	0.3 mi	48, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,321	56	2	Flat
£128K	07/21	0.3 mi	64, Pownall Road, Ipswich, Suffolk IP3 0DR	£1,882	68	2	Flat
£135K	05/23	0.3 mi	46, Pownall Road, Ipswich, Suffolk IP3 0DR	£2,252	60	2	Flat
£135K	04/23	0.32 mi	58, Fore Hamlet, Ipswich, Suffolk IP3 8BD	£1,824	74	2	Flat
£118K	06/21	0.32 mi	32, Fore Hamlet, Ipswich, Suffolk IP3 8BD	£1,686	70	2	Flat
£151.5K	12/20	0.32 mi	53, Pownall Road, Ipswich, Suffolk IP3 0DN	£2,658	57	2	Flat
£135K	03/23	0.33 mi	125, Cemetery Road, Ipswich, Suffolk IP4 2HZ	-	-	2	Flat
£142K	02/23	0.33 mi	50, Finbars Walk, Ipswich, Suffolk IP4 1HY	£2,679	53	2	Flat
£130K	02/23	0.33 mi	21, Isham Place, Ipswich, Suffolk IP3 0DY	£2,319	56	2	Flat
£110K	06/21	0.33 mi	1, Isham Place, Ipswich, Suffolk IP3 0DY	£1,833	60	2	Flat
£134K	02/23	0.33 mi	5, Isham Place, Ipswich, Suffolk IP3 0DY	£2,627	51	2	Flat
£125.5K	05/21	0.34 mi	42, Siloam Place, Ipswich, Suffolk IP3 0FB	£1,476	85	2	Flat
£140K	12/22	0.34 mi	32, Siloam Place, Ipswich, Suffolk IP3 0FB	£2,373	59	2	Flat
£119K	10/20	0.34 mi	22, Siloam Place, Ipswich, Suffolk IP3 0FB	£2,644	45	2	Flat
£125K	06/21	0.35 mi	6, Isham Place, Ipswich, Suffolk IP3 0DZ	£2,128	59	2	Flat
£138.5K	10/22	0.35 mi	19, Hope Court, Ipswich, Suffolk IP3 0DW	£1,979	70	2	Flat
£140K	11/21	0.36 mi	239, Duke Street, Ipswich, Suffolk IP3 0BX	-	-	2	Flat
£114K	01/23	0.36 mi	59, Siloam Place, Ipswich, Suffolk IP3 0FD	£1,781	64	2	Flat
£130K	10/22	0.37 mi	36, Hope Court, Ipswich, Suffolk IP3 0DX	£1,605	81	2	Flat
£146.5K	01/23	0.4 mi	7, Haslemere Drive, Ipswich, Suffolk IP4 2PP	£2,526	58	2	Flat
£134.5K	07/21	0.4 mi	1, Haslemere Drive, Ipswich, Suffolk IP4 2PP	£2,453	55	2	Flat
£147K	10/22	0.41 mi	106, Siloam Place, Ipswich, Suffolk IP3 0FF	£2,492	59	2	Flat
£136K	04/23	0.41 mi	92, Siloam Place, Ipswich, Suffolk IP3 0FF	£1,936	70	2	Flat
£130K	04/21	0.45 mi	31, Meridian Rise, Ipswich, Suffolk IP4 2GF	£2,407	54	2	Flat
£138K	04/21	0.45 mi	23, Meridian Rise, Ipswich, Suffolk IP4 2GF	£2,379	58	2	Flat
£145K	08/21	0.45 mi	133, Meridian Rise, Ipswich, Suffolk IP4 2GF	£2,197	66	2	Flat
£148.5K	10/20	0.45 mi	113, Meridian Rise, Ipswich, Suffolk IP4 2GF	£2,184	68	2	Flat
£145K	06/21	0.45 mi	25, Meridian Rise, Ipswich, Suffolk IP4 2GF	£2,500	58	2	Flat
£125K	04/23	0.46 mi	24, Postmill Close, Ipswich, Suffolk IP4 2RF	£2,155	58	2	Flat
£120K	07/21	0.46 mi	42, Postmill Close, Ipswich, Suffolk IP4 2RF	£2,105	57	2	Flat
£107.5K	06/21	0.46 mi	30, Postmill Close, Ipswich, Suffolk IP4 2RF	£1,920	56	2	Flat
£320K	04/21	0.47 mi	155, Stoke Quay, Ipswich, Suffolk IP2 8SN	£2,991	107	2	Flat
£145K	07/21	0.5 mi	12, Meridian Rise, Ipswich, Suffolk IP4 2GA	£2,312	63	2	Flat
£161K	09/21	0.52 mi	15, St Nicholas Court, Ipswich, Suffolk IP1 1TG	£1,789	90	2	Flat
£108K	11/21	0.56 mi	88, Vernon Street, Ipswich, Suffolk IP2 8JB	£1,742	62	2	Flat
£150K	02/21	0.58 mi	72, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,174	69	2	Flat
£162.5K	04/21	0.58 mi	58, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,500	65	2	Flat
£170K	06/21	0.58 mi	54, Wolsey Street, Ipswich, Suffolk IP1 1AF	£2,017	84	2	Flat
£122.5K	03/21	0.58 mi	92, Wolsey Street, Ipswich, Suffolk IP1 1AF	£1,801	68	2	Flat
£120K	12/22	0.63 mi	147, Oakstead Close, Ipswich, Suffolk IP4 4HW	£2,143	56	2	Flat

Local Rents

51 rents from £492/mo to £3.6K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£1,000	04/24	0.02 mi	St Edmund House, Rope Walk, Ipswich, Suffolk, IP4	2	Flat
£1,000	04/24	0.02 mi	Rope Walk, Ipswich	2	Flat
£900	07/24	0.09 mi	St Helens Street, Ipswich	2	Terraced House
£775	08/24	0.09 mi	St. Helens Street, Ipswich	2	Flat
£750	08/24	0.09 mi	St. Helens Street, Ipswich	2	Flat
£800	05/24	0.11 mi	Grimwade Street, Ipswich	2	Flat
£875	04/24	0.12 mi	St Helens Street, Ipswich	2	Flat
£875	08/24	0.14 mi	Star Lane, Ipswich, Suffolk, UK, IP4	2	Flat
£850	09/24	0.14 mi	Oxford Road, IPSWICH	2	Flat
£750	05/24	0.14 mi	Star Lane, Ipswich, Suffolk, IP4	2	Flat
£925	06/24	0.14 mi	Star Lane, Ipswich, Suffolk, IP4	2	Flat
£950	07/24	0.16 mi	Bond Street, IPSWICH	2	Semi-Detached House
£800	04/24	0.2 mi	Woodbridge Road, Ipswich, Suffolk, IP4	2	Flat
£800	01/24	0.2 mi	Fore Street, Ipswich, Suffolk, IP4	2	Flat
£825	01/24	0.22 mi	Fore Hamlet, Ipswich	2	Flat
£1,200	01/24	0.23 mi	Neptune Square, Ipswich, Suffolk, IP4	2	Flat
£1,325	04/24	0.23 mi	Neptune Square, Ipswich	2	Flat
£1,200	07/24	0.23 mi	Neptune Square, Ipswich, IP4	2	Flat
£1,250	08/24	0.23 mi	Neptune Square, Ipswich, Suffolk, IP4	2	Flat
£1,250	08/24	0.23 mi	Neptune Square, Ipswich, Suffolk, IP4	2	Flat
£1,150	01/24	0.23 mi	Neptune Square, Ipswich, IP4	2	Flat
£1,200	07/24	0.23 mi	Neptune Square, Ipswich, IP4	2	Flat
£950	08/24	0.23 mi	Neptune Square, Ipswich, IP4	2	Flat
£975	05/24	0.24 mi	Foundation Street, Ipswich	2	Flat
£950	01/24	0.24 mi	Lower Orwell Street, Ipswich, IP4	2	House
£800	12/24	0.25 mi	Fore Hamlet, Ipswich	2	Flat
£975	06/24	0.25 mi	Cemetery Road, Ipswich, IP4	2	Terraced House
£527	06/24	0.25 mi	-	2	Terraced House
£895	04/24	0.26 mi	Foundation Street, Ipswich, IP4	2	Flat
£895	04/24	0.26 mi	Foundation Street, Ipswich, IP4	2	Flat
£1,050	08/24	0.26 mi	Foundation Street, IPSWICH	2	Flat
£1,200	10/24	0.26 mi	-	2	Flat
£1,200	10/24	0.26 mi	-	2	Flat
£532	10/24	0.26 mi	-	2	Flat
£1,050	05/24	0.26 mi	Coprolite Street, Ipswich	2	Flat
£975	05/24	0.26 mi	Coprolite Street, Ipswich	2	Flat
£1,100	04/24	0.27 mi	Neptune Marina, 1 Coprolite Street, Ipswich, Suffolk, IP3	2	Flat
£995	04/24	0.27 mi	Neptune Marina, Ipswich, IP3	2	Flat
£895	04/24	0.27 mi	Hervey Street, Ipswich	2	Terraced House
£1,100	06/24	0.27 mi	Nottidge Road, Ipswich	2	Semi-Detached House
£875	04/24	0.27 mi	Cobbold Street, Ipswich, Suffolk, IP4 2DN	2	Flat
£875	07/24	0.27 mi	Cobbold Street, Ipswich, Suffolk, IP4 2DN	2	Flat
£925	08/24	0.28 mi	Nottidge Road, Ipswich, Suffolk, IP4	2	Terraced House
£3,600	05/24	0.28 mi	-	2	Flat
£3,600	10/24	0.28 mi	-	2	Flat
£1,100	09/24	0.28 mi	-	2	Terraced House
£492	04/24	0.28 mi	-	2	Flat
£850	01/24	0.29 mi	Pownall Road, Ipswich, Suffolk, IP3	2	Flat
£975	04/24	0.29 mi	-	2	Terraced House
£995	10/24	0.3 mi	-	2	Terraced House
£975	04/24	0.3 mi	Christchurch Street,Ipswich,IP4	2	Terraced House

Local Area Statistics

Population in IP4	36,42936,429
Population in Ipswich	219,393219,393
Town centre distance	0.17 miles away0.17 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.86 miles away0.86 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+13%+13%

Property History

Listed for £50,000

September 6, 2024

Floor Plans

Description

For sale by auction on 25/09/2024 at Live Broadcast Auction

Lot Number 2

6 St. Edmund House,
Rope Walk
Ipswich
Suffolk
IP41NF

Guide Price:
£50,000 - £75,000

Sold for £108,000

Located in the heart of Ipswich, this spacious two-bedroom apartment offers contemporary urban living with the convenience of being within walking distance to the town centre, waterfront, and university. Each of the two double bedrooms features its own en-suite, enhancing privacy and comfort. The apartment boasts a large open plan living and kitchen area, alongside a separate cloakroom for guests. Additional benefits include secure underground allocated parking and a secure entry system, ensuring both safety and ease of access. Priced for the auction market, this property is ideal for those seeking a vibrant city living experience or a savvy investment opportunity in a prime location with a strong rental demand.

Tenure: Leasehold - 125 years from 2017

EPC: E

2-BED APARTMENT
IPSWICH TOWN CENTRE
2X EN-SUITES
OPEN PLAN LIVING/KIT
IDEAL BTL
AUCTION-PRICED
UNDERGROUND PARKING
SECURE ENTRY SYSTEM
CLOSE UNIVERSITY

Open viewings have been arranged for:

Fri 13 Sept 10:00 - 11:00
Sat 14 Sept 13:00 - 14:00
Mon 16 Sept 09:30 - 10:30

(10 Minute viewing slots
MUST be pre-booked)

Vendors Solicitors
Jason Burton
Hayward Moon Property Lawyers
Connexions,
159 Princes Street,
Ipswich,
Suffolk, IP11QJ

How is this property being sold?
This property is being sold via a traditional live-streamed AUCTION. To participate, you’ll need to attend the scheduled open viewing, review the Legal Pack available on our website, and ensure your finances are in order, or be ready to proceed without funding.

Properties are sold subject to reserve prices and are chain-free, meaning contracts are immediately exchanged when the hammer falls. If successful, a 10% deposit is required on the same day, with the remaining 90% due upon completion, typically within 28 days. Guide prices reflect the vendor's minimum expectations, and bidding can be done online, by phone, or via proxy.

We don’t charge any Buyers Premium or hidden fees; only a fixed administration fee of £1,200 is applied upon a successful purchase. For any questions about the auction process, please contact our office.

Agent Details

Goldings, Ipswich

01473 210200

Next Steps?

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

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