2 Bed Flat, Single Let, Ipswich, IP2 8JR, £80,000

Wherstead Road, Ipswich, IP2 8JR - 3 views - 6 months ago

Leasehold
Auction
BTL
ROI: 17%
~68 m²
+7 photos

ValuationUndervalued

Sold Prices£55K - £322.5K
Sold Prices/m²£1.5K/m² - £4.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.2K/m²

Value Estimate

£98,400
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£20,000

Stamp Duty & Legal Fees

£3,600

Total Cash In

£23,600

 

 

Cash Out

 

Rent Range

£650 - £2,600

Rent Estimate

£763

Running Costs/mo

£423

Cashflow/mo

£340

Cashflow/yr

£4,085

ROI

17%

Gross Yield

11%

Local Sold Prices

50 sold prices from £55K to £322.5K, average is £135K. £1.5K/m² to £4.3K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£110K10/210.05 mi25, Sinclair Drive, Ipswich, Suffolk IP2 8HZ2
£153.5K12/220.11 mi43, Bruff Road, Ipswich, Suffolk IP2 8GS2
£110K12/200.12 mi88, Bruff Road, Ipswich, Suffolk IP2 8GX2
£128K12/220.12 mi102, Bruff Road, Ipswich, Suffolk IP2 8GX2
£135K11/210.12 mi6, Bruff Road, Ipswich, Suffolk IP2 8GY2
£120K10/200.15 mi7, Croft Street, Ipswich, Suffolk IP2 8EB2
£123.5K04/210.27 mi32, Maidenhall Approach, Ipswich, Suffolk IP2 8NX2
£55K10/200.32 miFlat 17, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS2
£120K01/230.32 miFlat B, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS2
£137.5K04/230.34 mi31, Seymour Road, Ipswich, Suffolk IP2 8EN2
£108K11/210.39 mi88, Vernon Street, Ipswich, Suffolk IP2 8JB2
£320K04/210.41 mi155, Stoke Quay, Ipswich, Suffolk IP2 8SN2
£160K05/230.54 mi35, Sagehayes Close, Ipswich, Suffolk IP2 9SQ2
£190.5K09/210.54 miFlat 3, Burlingham House, Ancaster Road, Ipswich, Suffolk IP2 9AJ2
£140K11/210.62 mi239, Duke Street, Ipswich, Suffolk IP3 0BX2
£151.5K12/200.63 mi53, Pownall Road, Ipswich, Suffolk IP3 0DN2
£322.5K06/230.63 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£315K07/230.63 mi39, Neptune Square, Ipswich, Suffolk IP4 1QH2
£290K02/210.63 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£167K01/210.63 mi10, Neptune Square, Ipswich, Suffolk IP4 1QH2
£255K06/210.63 mi48, Neptune Square, Ipswich, Suffolk IP4 1QH2
£130K10/220.65 mi36, Hope Court, Ipswich, Suffolk IP3 0DX2
£138.5K10/220.65 mi19, Hope Court, Ipswich, Suffolk IP3 0DW2
£140K12/220.65 mi32, Siloam Place, Ipswich, Suffolk IP3 0FB2
£119K10/200.65 mi22, Siloam Place, Ipswich, Suffolk IP3 0FB2
£125.5K05/210.66 mi42, Siloam Place, Ipswich, Suffolk IP3 0FB2
£147K10/220.67 mi106, Siloam Place, Ipswich, Suffolk IP3 0FF2
£136K04/230.67 mi92, Siloam Place, Ipswich, Suffolk IP3 0FF2
£114K01/230.68 mi59, Siloam Place, Ipswich, Suffolk IP3 0FD2
£130K02/230.68 mi21, Isham Place, Ipswich, Suffolk IP3 0DY2
£110K06/210.68 mi1, Isham Place, Ipswich, Suffolk IP3 0DY2
£134K02/230.68 mi5, Isham Place, Ipswich, Suffolk IP3 0DY2
£125K06/210.69 mi6, Isham Place, Ipswich, Suffolk IP3 0DZ2
£120K04/210.69 mi56, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.69 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£130K11/200.69 mi48, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.69 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£135K05/230.69 mi46, Pownall Road, Ipswich, Suffolk IP3 0DR2
£133K09/220.69 mi93, Pownall Road, Ipswich, Suffolk IP3 0DA2
£150K02/210.7 mi72, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£162.5K04/210.7 mi58, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£170K06/210.7 mi54, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£122.5K03/210.7 mi92, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£135K04/230.7 mi58, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£118K06/210.7 mi32, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£218K11/200.75 mi18, Kirkham Close, Ipswich, Suffolk IP2 9BD2
£161K09/210.78 mi15, St Nicholas Court, Ipswich, Suffolk IP1 1TG2
£137K12/210.81 mi70, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£135K02/230.82 mi58, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£140K03/230.82 mi68, Compair Crescent, Ipswich, Suffolk IP2 0EH2

Local Rents

50 rents from £650/mo to £2.6K/mo, average is £938/mo.

RentDateDistanceAddressBeds 
£65006/240 miApt Wherstead Road, Ipswich, IP22
£85008/240 miWherstead Road, Ipswich, IP22
£85008/240 miWherstead Road, Ipswich, IP22
£90006/240.01 miWherstead Road, Ipswich, Suffolk, IP22
£87504/240.02 miWherstead Road, Ipswich, Suffolk, IP22
£85006/240.02 miWherstead Road, Ipswich2
£82506/240.03 miRapier Street, IP22
£85007/240.03 miRapier Street, Ipswich, IP22
£97504/240.05 mi-2
£97503/240.05 mi-2
£95008/240.07 miCowell Street, Ipswich, Suffolk, IP22
£90008/240.12 miBruff Road, Ipswich2
£95007/240.13 miBruff Road, Ipswich, Suffolk, IP22
£90004/240.15 miCroft Street, Ipswich, IP22
£1,10012/240.2 mi-2
£1,00001/240.21 miHartley Street, Ipswich2
£90004/240.23 miHartley Street, Ipswich, Suffolk, IP22
£1,10004/240.24 mi-2
£82508/240.25 miPauline Street, Ipswich, IP22
£79506/240.26 miShelley Street, Ipswich, IP22
£2,60005/240.27 mi-2
£1,10007/240.3 miMartin Road, Ipswich, IP22
£82501/240.32 miBelstead Avenue, Ipswich, Suffolk, IP22
£90004/240.33 miAustin Street, Ipswich, Suffolk2
£90005/240.33 miAustin Street, Ipswich, Suffolk2
£90006/240.33 miAustin Street, Ipswich, Suffolk2
£1,10008/240.37 miPhilip Road, IPSWICH2
£77509/240.38 mi-2
£92505/240.41 miStoke Street, IP2, Ipswich2
£1,00007/240.41 miStoke Quay, IP22
£95008/240.41 miStoke Quay, Ipswich, IP22
£98508/240.42 miStoke Quay, Ipswich2
£98509/240.42 miStoke Quay, Ipswich2
£1,10005/240.46 miPatteson Road, Ipswich2
£1,10005/240.46 miPatteson Road, IPSWICH2
£80004/240.47 miStokebridge Maltings, Ipswich, IP22
£92504/240.48 miHeatherhayes, Ipswich, IP22
£89505/240.48 miHeatherhayes, Off Belstead Road, Ipswich, IP22
£1,15001/240.49 miAnchor Street, Ipswich, Suffolk, IP32
£99504/240.49 mi1 Anchor Street, Orwell Quay, Ipswich, IP32
£1,10012/240.49 mi-2
£1,15004/250.49 mi-2
£1,10005/240.49 miAnchor Street, Ipswich2
£85012/240.5 mi-2
£95001/240.5 miAnchor Street, Ipswich2
£72509/240.51 miWherstead Road, Ipswich2
£1,25012/240.51 mi-2
£1,20012/240.51 mi-2
£1,20012/240.51 mi-2
£80005/240.53 miBurrell Road, Ipswich, IP22

Local Area Statistics

Population in IP2

30,997

Population in Ipswich

219,393

Town centre distance

1.02 miles away

Nearest school

0.20 miles away

Nearest train station

0.62 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-1%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £80,000

October 8, 2024

Floor Plans

Description

  • Sale by Modern Auction (T&Cs apply) +
  • Subject to an undisclosed Reserve Price +
  • Buyers fees apply +
  • FIRST FLOOR APARTMENT +
  • TWO SPACIOUS BEDROOMS +
  • UNDER FLOOR HEATING THROUGHOUT +
  • ALLOCATED UNDERGROUND PARKING +
  • WRAP AROUND BALCONY +

SUMMARY
A first floor apartment situated to the outskirts of Ipswich Town Centre and conveniently located for many amenties. The property benefits from two bedrooms, a integrated kitchen, under floor heating throughout, secure underground parking and a wrap around balcony.

DESCRIPTION
A Two Bedroom first floor apartment situated to the south of Ipswich Town Centre. The property boasts underground allocated parking and a wrap around balcony, a spacious integrated kitchen, two good size bedrooms and there is also under floor heating throughout. An Internal inspection is highly recommended.

Ipswich has a cutting-edge theatre and arts scene, many schooling facilities, cosy Suffolk pubs, and a vibrant community of independent stores. Ipswich also has the benefit of being home to a mainline railway station that gives direct access into London Liverpool Street, Cambridge, Norwich and many more destinations.
It also benefits from a rejuvenated waterfront Marina which boasts many restaurants, bars and cafes.

Auctioneer's Comments 
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer.

The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

Entrance  
Entrance door via communal entrance hall, stairs and lift to first floor.

Entrance Hall  
Entrance door into entrance hall with airing cupboard and double storage cupboard and doors giving access to:

Lounge 13' 4" x 11' 1" ( 4.06m x 3.38m )
Double glazed french doors giving access to wrap around balcony, under floor heating and tv point.

Kitchen 9' 10" x 7' 2" ( 3.00m x 2.18m )
Double glazed window to rear, kitchen comprises of a selection of wall and base level units with an electric oven, hob and extractor fan over, integrated fridge freezer, stainless steel sink set into roll edge work surface with plumbing for washing machine under.

Bedroom One 13' 2" x 9' ( 4.01m x 2.74m )
Double glazed window to side and underfoot heating.

Bedroom Two 11' x 7' 8" ( 3.35m x 2.34m )
Double glazed window to side and under floor heating.

Bathroom  
Three piece suite comprising of panel bath with shower over, pedestal wash hand basin, low level w/c and heated towel rail.

Outside 
There is allocated parking in a secure underground parking area.

We currently hold lease details as displayed above, should you require further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, Ipswich

01473 943139

Next Steps?

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