3 Bed Terraced House, Cash/Bridging Only, Helston, TR12 7DX, £200,000

45 TREGELLAS ROAD, MULLION, CORNWALL, TR12 7DX - 7 months ago

Under Offer
Cash
ROI: 2%
68 m²
+7 photos

ValuationFair Value

Sold Prices£150K - £400K
Sold Prices/m²£1.8K/m² - £4.1K/m²

 

 

Square Metres

68 m²
Price/m²£2.9K/m²

Value Estimate

£204,000

 

 

End Value (After Refurb)

£210,886

Uplift in Value

+5%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£50,000

Stamp Duty & Legal Fees

£11,200

Refurb Costs

£29,671

Bridging Loan Interest

£5,250

Total Cash In

£97,871

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£210,886

Mortgage (After Refinance)

£158,165

Mortgage LTV

75%

Cash Released

£8,165

Cash Left In

£89,707

Equity

£52,722

Rent Range

£550 - £1,800

Rent Estimate

£1,098

Running Costs/mo

£899

Cashflow/mo

£199

Cashflow/yr

£2,393

ROI

2%

Gross Yield

7%

Local Sold Prices

27 sold prices from £150K to £400K, average is £250K. £1.8K/m² to £4.1K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£340K01/230.02 mi8, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£150K12/210.02 mi1, Colroger Close, Mullion, Helston, Cornwall TR12 7DZ3
£270K03/230.02 mi3, Colroger Close, Mullion, Helston, Cornwall TR12 7DZ3
£237.5K01/230.03 mi12, Colroger Close, Mullion, Helston, Cornwall TR12 7DZ3
£240K12/210.04 mi51, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£245K09/220.05 mi49, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£188K07/210.05 mi38, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£165K10/210.05 mi52, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£285K11/200.05 mi7, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£176K12/200.05 mi57, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£165K10/210.05 mi52, Tregellas Road, Mullion, Helston, Cornwall TR12 7DX3
£176K02/210.06 mi26, Trembel Road, Mullion, Helston, Cornwall TR12 7DY3
£247.5K08/230.06 mi32, Trembel Road, Mullion, Helston, Cornwall TR12 7DY3
£240K01/220.08 mi13, Trembel Road, Mullion, Helston, Cornwall TR12 7DY3
£300K06/210.09 miTreharren, Colroger Lane, Mullion, Helston, Cornwall TR12 7DJ3
£230K11/230.15 mi6, Elm Terrace, Mullion, Helston, Cornwall TR12 7HH3
£400K12/220.27 mi57, Laflouder Fields, Mullion, Helston, Cornwall TR12 7HR3
£390K12/200.27 mi68, Laflouder Fields, Mullion, Helston, Cornwall TR12 7HR3
£336K11/200.3 mi100, Laflouder Fields, Mullion, Helston, Cornwall TR12 7EJ3
£276K09/210.34 mi10, Riviera Close, Mullion, Helston, Cornwall TR12 7AW3
£276K09/210.35 mi10, Riviera Close, Mullion, Helston, Cornwall TR12 7AW3
£250K10/200.38 mi6, Woodlands, Mullion, Helston, Cornwall TR12 7RN3
£285K09/230.4 mi9, St Mellans Terrace, Mullion, Helston, Cornwall TR12 7EH3
£235K03/220.42 mi79, Redannack North, Mullion, Helston, Cornwall TR12 7HE3
£255K12/230.47 mi35, Clifden Close, Mullion, Helston, Cornwall TR12 7EQ3
£330K06/210.48 miHideaway, Glenmoor Lane, Mullion, Helston, Cornwall TR12 7EF3
£383K05/210.53 mi2, Park Enskellaw, Mullion, Helston, Cornwall TR12 7JG3

Local Rents

12 rents from £550/mo to £1.8K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,20002/250.14 mi-2
£70009/240.18 miTreveglos Court, Lender Lane, Mullion, Helston1
£82509/240.32 mi-2
£95003/250.32 mi-2
£1,80009/240.46 mi-4
£1,45001/250.89 mi-3
£1,40009/240.89 mi-3
£1,10009/241.46 mi-1
£1,15012/242.21 mi-2
£55009/242.21 mi-1
£1,15012/242.21 mi-2
£90009/242.21 miCury, Helston2

Local Area Statistics

Population in TR12

9,482

Population in Helston

29,289

Town centre distance

5.14 miles away

Nearest school

0.10 miles away

Nearest train station

11.05 miles away

 

 

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+64%

Property History

Price changed to £200,000

December 12, 2024

Listed for £235,000

September 10, 2024

Description

  • END OF TERRACE +
  • GARAGE +
  • PARKING +
  • GARDEN +

This well proportioned property offers the basis of a nice family home in this popular village benefitting from double glazing and modern electrical heating.

The accommodation in brief on the ground floor comprises an entrance area, lounge and nicely fitted kitchen/diner to whilst to the first floor there are three bedrooms and a family bathroom.
To the outside and at the rear there is a parking space and garage along with enclosed gardens.

Mullion is the largest village on the Lizard Peninsula which itself plays host to many clubs, societies and organisations. It offers a good range of facilities, including shops to cater for everyday needs, both primary and comprehensive schools and a nursery. There is an 18 hole links golf course, Catholic, Anglican and Methodist Churches, a health centre and pharmacy. It boasts an attractive harbour and two beaches.

THE ACCOMMODATION COMPRISES (DIMENSIONS APPROX)

PART GLAZED DOOR WITH SIDE PANEL LEADING TO

ENTRANCE AREA
With under stairs storage cupboard and arch through to the -

LOUNGE 3.9M X 3.48M (12'9" X 11'5")
With a window to the front aspect and part glazed door to -

KITCHEN/DINER 5.45M X 3.28M (MAXIMUM MEASUREMENTS)
(17'10" X 10'9" (MAXIMUM MEASUREMENTS)
A nice airy space with windows and glazed door to the rear aspect. A fitted kitchen with stone and wood effect worktops that incorporate a ceramic hob with hood over and a one and a half bowl stainless steel sink drainer with attractive tiled splash backs. There are a mixture of base and drawer units under with wall units over, spaces for washing machine and dishwasher, wood effect laminate flooring and under stairs storage cupboard.

FIRST FLOOR LANDING
With airing cupboard housing the immersion with a slatted shelf, loft hatch to roof space and door to -

BEDROOM ONE 3.54M X 3M (11'7" X 9'10")
With a view over other properties to open countryside and the sea in the distance over Mounts Bay.

BEDROOM TWO 3.62M X 3.38M (11'10" X 11'1")
Window to the front aspect.

BEDROOM THREE 2.72M X 2M (8'11" X 6'6")
Window to the front aspect.

BATHROOM
Comprising suite with panelled bath and mixer shower arrangement over, easy clean splash back, glass screen and Mira Sport electric shower over. Pedestal wash hand basin, close coupled w.c., part tiling to the walls, extractor, wood effect laminate flooring and window to the rear.

GARDENS
To the front of the property there is a lawned and graveled area whilst to the rear there is a nicely enclosed garden with lawn area and beds at its borders. There is a service gate back to the parking space and leads to the -

GARAGE 4.9M X 2.44M (16'0" X 8'0")
With up and over door, power and light.

AGENTS NOTE ONE
The property is of the Carey timber frame style of construction which is not mortgageable by all lenders. Prospective purchasers must check with their mortgage broker for suitability.

AGENTS NOTE TWO
We are advised that in 2021 the property was rewired and five Elnur electric heaters were installed and the windows and two external doors were replaced.

AGENTS NOTE THREE
We are advised that some enhancement works have been carried out in the kitchen and are due to be signed off in the near future by Building Control.

SERVICES
Mains water, electricity and drainage.

COUNCIL TAX BAND
Band B.

MOBILE AND BROADBAND COVERAGE
To check the mobile and broadband coverage for this property please refer to the brochure.

ANTI MONEY LAUNDERING REGULATIONS - PURCHASER
We are required by law to ask all purchasers for verified ID prior to instructing a sale.

PROOF OF FUNDS - PURCHASERS
Prior to agreeing a sale, we will require proof of financial ability to purchase which will include an agreement in principle for a mortgage and/or proof of cash funds.

Agent Details

Christophers, Helston

01326 331637

Next Steps?

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