3 Bed Terraced House, Refurb/BRRR, Felixstowe, IP11 9JD, £230,000

High Road West, Felixstowe, IP11 9JD - 2 views - 7 months ago

Sold STC

Refurb/BRRR

ROI: 2%

~93 m²

+4 photos

ValuationFair Value

Sold Prices	£180K - £650K
Sold Prices/m²	£1.8K/m² - £5.5K/m²

Square Metres	~93 m²
Price/m²	£2.5K/m²
Value Estimate	£230,000£230,000

End Value (After Refurb)	£241,347£241,347
Uplift in Value	+5%+5%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£57,500£57,500
Stamp Duty & Legal Fees	£8,100£8,100
Refurb Costs	£43,458£43,458
Bridging Loan Interest	£6,038£6,038
Total Cash In	£116,845£116,845

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£241,347£241,347
Mortgage (After Refinance)	£181,010£181,010
Mortgage LTV	75%75%
Cash Released	£8,510£8,510
Cash Left In	£108,335£108,335
Equity	£60,337£60,337
Rent Range	£850 - £2,700£850 - £2,700
Rent Estimate	£1,189
Running Costs/mo	£1,012£1,012
Cashflow/mo	£177£177
Cashflow/yr	£2,124£2,124
ROI	2%2%
Gross Yield	6%6%

Local Sold Prices

51 sold prices from £180K to £650K, average is £317K. £1.8K/m² to £5.5K/m², average is £3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£365K	08/23	0.08 mi	2, High Road West, Felixstowe, Suffolk IP11 9JB	-	-	3	Detached House
£310K	01/23	0.11 mi	61, High Road West, Felixstowe, Suffolk IP11 9JD	£2,844	109	3	Semi-Detached House
£445K	05/23	0.17 mi	1, Fleetwood Road, Felixstowe, Suffolk IP11 7EQ	£3,870	115	3	Detached House
£277.5K	05/21	0.18 mi	1, Tomline Road, Felixstowe, Suffolk IP11 7QW	£2,372	117	3	Semi-Detached House
£375K	06/21	0.18 mi	19, Beatrice Avenue, Felixstowe, Suffolk IP11 9HB	£3,947	95	3	Detached House
£295K	10/22	0.18 mi	8, St Andrews Road, Felixstowe, Suffolk IP11 7QN	£2,825	104	3	Terraced House
£305K	11/20	0.19 mi	7, Queens Road, Felixstowe, Suffolk IP11 7QT	£3,506	87	3	Semi-Detached House
£385K	02/21	0.19 mi	25, Queens Road, Felixstowe, Suffolk IP11 7QT	£3,319	116	3	Semi-Detached House
£300K	02/23	0.23 mi	44, Exeter Road, Felixstowe, Suffolk IP11 9AU	-	-	3	Semi-Detached House
£325K	09/21	0.23 mi	48, Exeter Road, Felixstowe, Suffolk IP11 9AU	£3,693	88	3	Semi-Detached House
£218K	11/20	0.25 mi	7, Devon Road, Felixstowe, Suffolk IP11 9AF	£2,321	94	3	Semi-Detached House
£245K	12/20	0.25 mi	24, Devon Road, Felixstowe, Suffolk IP11 9AF	£2,606	94	3	Semi-Detached House
£295K	03/23	0.25 mi	4, Devon Road, Felixstowe, Suffolk IP11 9AF	£3,073	96	3	Terraced House
£335K	11/20	0.28 mi	4, Leopold Road, Felixstowe, Suffolk IP11 7NN	£2,597	129	3	Detached House
£225K	06/21	0.28 mi	59, Gainsborough Road, Felixstowe, Suffolk IP11 7HS	£2,557	88	3	Terraced House
£399.9K	08/21	0.28 mi	109, Garrison Lane, Felixstowe, Suffolk IP11 7RE	£3,738	107	3	Detached House
£215K	10/20	0.3 mi	15, Chester Road, Felixstowe, Suffolk IP11 9AH	£2,312	93	3	Semi-Detached House
£230K	07/21	0.3 mi	19, Chester Road, Felixstowe, Suffolk IP11 9AH	£2,492	92	3	Terraced House
£475K	06/21	0.3 mi	12, Brook Lane, Felixstowe, Suffolk IP11 7EG	£4,294	111	3	Detached House
£430K	02/21	0.31 mi	5, Nursery Walk, Felixstowe, Suffolk IP11 7TE	£3,667	117	3	Semi-Detached House
£306K	06/23	0.31 mi	26, High Road East, Felixstowe, Suffolk IP11 9JW	£3,778	81	3	Semi-Detached House
£375K	07/23	0.32 mi	50, Lynwood Avenue, Felixstowe, Suffolk IP11 9HS	£3,866	97	3	Semi-Detached House
£197.5K	02/21	0.34 mi	162, High Road West, Felixstowe, Suffolk IP11 9BB	£2,588	76	3	Semi-Detached House
£246.5K	06/21	0.34 mi	40, Cornwall Road, Felixstowe, Suffolk IP11 9AQ	£3,043	81	3	Semi-Detached House
£450K	08/21	0.34 mi	22, Princes Gardens, Felixstowe, Suffolk IP11 7RH	£3,333	135	3	Detached House
£400K	03/21	0.35 mi	3, Links Avenue, Felixstowe, Suffolk IP11 9HD	-	-	3	Detached House
£435K	06/21	0.35 mi	54, Links Avenue, Felixstowe, Suffolk IP11 9HD	-	-	3	Detached House
£247.5K	03/21	0.37 mi	5, Highfield Road, Felixstowe, Suffolk IP11 7BZ	£2,292	108	3	Semi-Detached House
£271K	11/20	0.37 mi	51, Ranelagh Road, Felixstowe, Suffolk IP11 7HA	£2,683	101	3	Terraced House
£285K	12/20	0.37 mi	26, Constable Road, Felixstowe, Suffolk IP11 7HL	£2,298	124	3	Semi-Detached House
£285K	12/20	0.37 mi	26, Constable Road, Felixstowe, Suffolk IP11 7HL	£2,298	124	3	Semi-Detached House
£340K	04/23	0.37 mi	40, Constable Road, Felixstowe, Suffolk IP11 7HL	£2,931	116	3	Terraced House
£243K	04/21	0.38 mi	17, Valley Walk, Felixstowe, Suffolk IP11 7TD	£3,284	74	3	Semi-Detached House
£340K	12/22	0.4 mi	45, Quilter Road, Felixstowe, Suffolk IP11 7JL	£3,469	98	3	Terraced House
£325K	04/23	0.42 mi	3, Chepstow Road, Felixstowe, Suffolk IP11 9BU	£2,500	130	3	Semi-Detached House
£260K	03/23	0.42 mi	78, Queens Road, Felixstowe, Suffolk IP11 7PE	£2,626	99	3	Terraced House
£385K	11/20	0.42 mi	14, Newry Avenue, Felixstowe, Suffolk IP11 7RZ	£3,235	119	3	Detached House
£385K	02/21	0.42 mi	24, Newry Avenue, Felixstowe, Suffolk IP11 7RZ	-	-	3	Detached House
£360K	06/21	0.42 mi	11, Newry Avenue, Felixstowe, Suffolk IP11 7RZ	-	-	3	Detached House
£425K	06/21	0.43 mi	47, Colneis Road, Felixstowe, Suffolk IP11 9HQ	£4,009	106	3	Detached House
£317K	06/21	0.43 mi	62, Rosemary Avenue, Felixstowe, Suffolk IP11 9HN	£4,064	78	3	Semi-Detached House
£320K	12/20	0.43 mi	52, Seaton Road, Felixstowe, Suffolk IP11 9BP	£3,137	102	3	Semi-Detached House
£300K	06/21	0.43 mi	38, Seaton Road, Felixstowe, Suffolk IP11 9BP	£3,301	91	3	Semi-Detached House
£330K	07/23	0.43 mi	50, Seaton Road, Felixstowe, Suffolk IP11 9BP	£2,598	127	3	Detached House
£335K	01/21	0.45 mi	16, Rosemary Avenue, Felixstowe, Suffolk IP11 9HX	£2,702	124	3	Semi-Detached House
£189K	05/21	0.46 mi	18, Recreation Close, Felixstowe, Suffolk IP11 9BE	£2,700	70	3	Terraced House
£227K	06/21	0.46 mi	4, Recreation Close, Felixstowe, Suffolk IP11 9BE	£2,720	83	3	Terraced House
£220K	03/23	0.46 mi	26, Recreation Close, Felixstowe, Suffolk IP11 9BE	£3,188	69	3	Terraced House
£335K	09/21	0.46 mi	1, Rosemary Avenue, Felixstowe, Suffolk IP11 9HU	-	-	3	Detached House
£180K	01/21	0.47 mi	158, Cornwall Road, Felixstowe, Suffolk IP11 9EW	£1,800	100	3	Semi-Detached House
£650K	04/23	0.48 mi	2, Hamilton Gardens, Felixstowe, Suffolk IP11 7ES	£5,545	117	3	Detached House

Local Rents

22 rents from £850/mo to £2.7K/mo, average is £1.1K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,000	05/24	0.21 mi	Gainsborough Road, Felixstowe	3	Flat
£1,100	02/25	0.26 mi	-	3	Terraced House
£1,050	05/24	0.26 mi	High Road West, Felixstowe, IP11	3	Semi-Detached House
£1,275	04/24	0.3 mi	Chester Road, Felixstowe	3	Semi-Detached House
£1,100	04/24	0.41 mi	Graham Road, Felixstowe	3	Terraced House
£1,000	04/24	0.48 mi	-	3	Terraced House
£1,200	04/24	0.51 mi	Queen Street, Walton	3	Semi-Detached House
£850	05/24	0.55 mi	Angel Cottage, Felixstowe	3	Flat
£850	05/24	0.55 mi	Angel Cottage, Felixstowe	3	Terraced House
£1,050	05/24	0.64 mi	Maidstone Road, FELIXSTOWE	3	Terraced House
£1,000	06/24	0.64 mi	Maidstone Road, Felixstowe	3	Terraced House
£2,700	11/23	0.75 mi	-	3	Flat
£950	12/24	0.79 mi	-	3	Flat
£1,195	04/24	0.81 mi	Holland Road, Felixstowe	3	Terraced House
£1,100	05/24	0.82 mi	Kingsfleet Road, Felixstowe	3	Terraced House
£1,450	04/24	0.92 mi	Walton Hall Drive, Trimley IP11	3	Semi-Detached House
£1,300	05/24	0.95 mi	Bigod Terrace, Felixstowe, IP11	3	House
£1,300	01/24	0.95 mi	-	3	Bungalow
£995	04/24	0.96 mi	Reedland Way, Felixstowe, Suffolk, IP11	3	House
£1,295	04/24	0.96 mi	Collett Road	3	Semi-Detached House
£1,150	04/24	1.14 mi	Ferry Lane, Felixstowe, IP11	3	House
£1,250	03/24	1.19 mi	Wesel Avenue, Felixstowe	3	Terraced House

Local Area Statistics

Population in IP11	29,29029,290
Population in Felixstowe	29,29429,294
Town centre distance	0.21 miles away0.21 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.05 miles away0.05 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	0%0%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+16%+16%

Property History

Listed for £230,000

September 18, 2024

Floor Plans

Description

End Terrace House +
Modernisation & Updating Required Throughout +
Two Reception Rooms +
Three Bedrooms +
Close To Town Centre & Train Station +

A three bedroom end of terrace property requiring modernisation and updating throughout, conveniently situated for access to the town centre and train station. The accommodation comprises, lounge, dining room, kitchen, rear lobby and downstairs bathroom. The first floor offer master bedroom and two further bedrooms. Outside the property is in a fully enclosed garden which is mainly laid to lawn. The property benefits gas fired central heating via radiator and uPvc double glazed windows throughout. The property is offered with no onward chain.