2 Bed Flat, Single Let, Ipswich, IP4 2GA, £130,000

Meridian Rise, Ipswich, IP4 2GA - 7 months ago

Sold STC
Leasehold
BTL
ROI: 6%
~61 m²
+5 photos

ValuationUndervalued

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

 

 

Square Metres

~61.10 m²
Price/m²£2.1K/m²

Value Estimate

£135,921
BMV5%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£32,500

Stamp Duty & Legal Fees

£7,800

Total Cash In

£40,300

 

 

Cash Out

 

Rent Range

£700 - £1,200

Rent Estimate

£788

Running Costs/mo

£584

Cashflow/mo

£204

Cashflow/yr

£2,450

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £107.5K to £322.5K, average is £135.5K. £1.5K/m² to £4.3K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£145K07/210.01 mi12, Meridian Rise, Ipswich, Suffolk IP4 2GA2
£130K04/210.05 mi31, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£138K04/210.05 mi23, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£145K08/210.05 mi133, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£148.5K10/200.05 mi113, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£145K06/210.05 mi25, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£146.5K01/230.1 mi7, Haslemere Drive, Ipswich, Suffolk IP4 2PP2
£134.5K07/210.1 mi1, Haslemere Drive, Ipswich, Suffolk IP4 2PP2
£125K04/230.21 mi24, Postmill Close, Ipswich, Suffolk IP4 2RF2
£120K07/210.21 mi42, Postmill Close, Ipswich, Suffolk IP4 2RF2
£107.5K06/210.21 mi30, Postmill Close, Ipswich, Suffolk IP4 2RF2
£135K03/230.23 mi125, Cemetery Road, Ipswich, Suffolk IP4 2HZ2
£134K10/220.46 mi16, Silk Street, Ipswich, Suffolk IP4 2PA2
£115K08/210.47 mi18, Silk Street, Ipswich, Suffolk IP4 2PA2
£120K12/220.48 mi147, Oakstead Close, Ipswich, Suffolk IP4 4HW2
£142K02/230.48 mi50, Finbars Walk, Ipswich, Suffolk IP4 1HY2
£167.5K11/220.68 miFlat F, 26, Fonnereau Road, Ipswich, Suffolk IP1 3JP2
£322.5K06/230.73 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£315K07/230.73 mi39, Neptune Square, Ipswich, Suffolk IP4 1QH2
£290K02/210.73 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£167K01/210.73 mi10, Neptune Square, Ipswich, Suffolk IP4 1QH2
£255K06/210.73 mi48, Neptune Square, Ipswich, Suffolk IP4 1QH2
£133K09/220.74 mi93, Pownall Road, Ipswich, Suffolk IP3 0DA2
£120K04/210.75 mi56, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.75 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£130K11/200.75 mi48, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.75 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£135K05/230.75 mi46, Pownall Road, Ipswich, Suffolk IP3 0DR2
£180K05/210.76 mi12, Fuchsia Lane, Ipswich, Suffolk IP4 1QB2
£135K04/230.76 mi58, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£118K06/210.76 mi32, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£130K02/230.78 mi21, Isham Place, Ipswich, Suffolk IP3 0DY2
£110K06/210.78 mi1, Isham Place, Ipswich, Suffolk IP3 0DY2
£134K02/230.78 mi5, Isham Place, Ipswich, Suffolk IP3 0DY2
£125K06/210.79 mi6, Isham Place, Ipswich, Suffolk IP3 0DZ2
£151.5K12/200.79 mi53, Pownall Road, Ipswich, Suffolk IP3 0DN2
£125.5K05/210.79 mi42, Siloam Place, Ipswich, Suffolk IP3 0FB2
£140K12/220.8 mi32, Siloam Place, Ipswich, Suffolk IP3 0FB2
£119K10/200.8 mi22, Siloam Place, Ipswich, Suffolk IP3 0FB2
£114K01/230.8 mi59, Siloam Place, Ipswich, Suffolk IP3 0FD2
£155K07/230.8 mi183d, Foxhall Road, Ipswich, Suffolk IP3 8LB2
£138.5K10/220.81 mi19, Hope Court, Ipswich, Suffolk IP3 0DW2
£130K10/220.82 mi36, Hope Court, Ipswich, Suffolk IP3 0DX2
£140K11/210.83 mi239, Duke Street, Ipswich, Suffolk IP3 0BX2
£147K10/220.85 mi106, Siloam Place, Ipswich, Suffolk IP3 0FF2
£136K04/230.85 mi92, Siloam Place, Ipswich, Suffolk IP3 0FF2
£161K09/210.85 mi15, St Nicholas Court, Ipswich, Suffolk IP1 1TG2
£165K12/220.91 miFlat 21, Henley Court, Henley Road, Ipswich, Suffolk IP1 3SD2
£220K03/210.91 mi6, Starfield Close, Ipswich, Suffolk IP4 5JQ2
£150K02/210.94 mi72, Wolsey Street, Ipswich, Suffolk IP1 1AF2

Local Rents

51 rents from £700/mo to £1.2K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£95001/240.05 miMeridian Rise, Ipswich2
£1,05006/240.05 miMeridian Rise, IPSWICH2
£1,00008/240.1 miBramley Hill, Ipswich2
£95009/240.11 miBramley Hill, IPSWICH2
£95007/240.16 miMeridian Rise, Ipswich, Suffolk, IP42
£95008/240.16 miMeridian Rise, Ipswich, Suffolk, IP42
£1,10007/240.17 miWoodbridge Road, Ipswich, Suffolk, IP42
£1,00006/240.18 miSuffolk Road, Ipswich, Suffolk, IP42
£87504/240.19 mi-2
£99504/240.19 miWoodbridge Road, Ipswich, IP42
£95006/240.19 miParade Road, Ipswich, Suffolk, IP42
£90005/240.2 miFinchley Road2
£97507/240.2 miParade Road, Ipswich, Suffolk, IP42
£97507/240.2 miParade Road, Ipswich, IP42
£85007/240.2 miNorfolk Road, Ipswich, Suffolk, UK, IP42
£1,05007/240.21 miBelle Vue Road, Ipswich, Suffolk2
£92507/240.22 miFinchley Road, Ipswich2
£85004/240.23 miCemetery Road, Ipswich, Suffolk, IP42
£87505/240.23 miSuffolk Road, IP42
£85004/240.23 mi-2
£94501/240.24 miBelle Vue Road, Ipswich, Suffolk, IP42
£87504/240.25 miBrunswick Road, IP42
£92504/240.25 mi-2
£92504/240.25 mi-2
£97504/240.29 mi-2
£92508/240.31 miNottidge Road, Ipswich, Suffolk, IP42
£99510/240.31 mi-2
£1,10006/240.31 miNottidge Road, Ipswich2
£92504/240.33 miWoodbridge Road, Ipswich, Suffolk, IP42
£97508/240.33 miWoodbridge Road, Ipswich, Suffolk, IP42
£75004/240.34 miChristchurch Street, Ipswich2
£87503/250.34 mi-2
£95008/240.35 miSt Marys Road, IPSWICH2
£92508/240.35 miSt. Marys Road, Ipswich, Suffolk, UK, IP42
£97506/240.36 miCemetery Road, Ipswich, IP42
£1,20004/240.36 miWhitby Road, IPSWICH2
£1,05007/240.37 miBurnham Close, Ipswich2
£70004/240.37 miWithipoll Street, Ipswich, IP42
£97504/240.37 miChristchurch Street,Ipswich,IP42
£1,00005/240.37 miChristchurch Street, Ipswich2
£95007/240.39 mi-2
£95012/230.39 mi-2
£89504/240.4 miHervey Street, Ipswich2
£87504/240.42 miCobbold Street, Ipswich, Suffolk, IP4 2DN2
£87507/240.42 miCobbold Street, Ipswich, Suffolk, IP4 2DN2
£90007/240.42 miSt Helens Street, Ipswich2
£80004/240.43 miWoodbridge Road, Ipswich, Suffolk, IP42
£1,10009/240.44 mi-2
£85009/240.44 miOxford Road, IPSWICH2
£80007/240.47 miFinbars Walk, Ipswich2
£85008/240.47 miFinbars Walk, Ipswich2

Local Area Statistics

Population in IP4

36,429

Population in Ipswich

219,393

Town centre distance

0.37 miles away

Nearest school

0.10 miles away

Nearest train station

0.99 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Seller's market

Capital growth (5yrs)

+13%

Property History

Price changed to £130,000

February 8, 2025

Listed for £140,000

September 20, 2024

Floor Plans

Description

  • Ground Floor Purpose Built Apartment +
  • East Ipswich Location +
  • Two Large Bedrooms +
  • Allocated Parking +
  • About 1.5 Mile From Ipswich Railway St. +
  • About 1 Mile From Town Centre +
  • About 1 Mile From Christchurch Park +
  • Within School Catchment +
  • Viewing Recommended +
  • Please "View Brochure" To Request Your Viewing +

The Property
GUIDE PRICE 130.000-140.000

An excellent opportunity for an owner occupier or buy-to-let investor to purchase this attractive purpose-built ground floor two-bedroom apartment located in the popular East part of Ipswich with good access to the town centre, park and railway station.

An early viewing request is recommended to avoid disappointment with the accommodation in brief comprising, main entrance to the communal hallway with access and stairs to neighbouring apartments. The main apartment entrance door leads to a long entrance hallway with large storage cupboard. The main "hub" of the apartment is the spacious kitchen/living and dining space with the remainder of the accommodation offering two double bedrooms (one with spacious built-in wardrobe) and a clever Jack/Jill main bathroom with double size shower enclosure, also accessed from the main bedroom. To the outside, there are communal gardens and an allocated parking space for owners/residents.

Please "View Brochure" to request your viewing and a 360° interactive tour is also available, please visit;

Property ownership information

Ground rent review period: Every 1 year

Service charge review period: Every 1 year

Lease end date: 29/08/2132

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.

Agent Details

Purplebricks, covering Ipswich

020 3834 8702

Next Steps?

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