2 Bed Bungalow, Refurb/BRRR, Ipswich, IP2 0TA, £200,000

London Road, Ipswich, IP2 0TA - 1 views - 6 months ago

Sold STC
Refurb/BRRR
ROI: 2%
~68 m²
+9 photos

ValuationFair Value

Sold Prices£130K - £380K
Sold Prices/m²£1.3K/m² - £5.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.9K/m²

Value Estimate

£200,000

 

 

End Value (After Refurb)

£184,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£50,000

Stamp Duty & Legal Fees

£12,700

Refurb Costs

£31,894

Bridging Loan Interest

£5,250

Total Cash In

£101,594

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£184,500

Mortgage (After Refinance)

£138,375

Mortgage LTV

75%

Cash Left In

£101,594

Equity

£46,125

Rent Range

£750 - £1,250

Rent Estimate

£933

Running Costs/mo

£783

Cashflow/mo

£150

Cashflow/yr

£1,798

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £130K to £380K, average is £209.5K. £1.3K/m² to £5.3K/m², average is £3.3K/m².

PriceDateDistanceAddressBeds 
£245K03/230.09 mi36, Curlew Road, Ipswich, Suffolk IP2 0TG2
£180K02/210.18 mi5, Wren Avenue, Ipswich, Suffolk IP2 0TJ2
£185K01/230.33 mi3, Archangel Gardens, Ipswich, Suffolk IP2 0XD2
£262.5K12/220.42 mi310, Hawthorn Drive, Ipswich, Suffolk IP2 0RT2
£220.5K01/230.42 mi4, Columbine Gardens, Ipswich, Suffolk IP2 0XA2
£220K12/220.44 mi4, Milden Road, Ipswich, Suffolk IP2 0LB2
£198K06/210.49 mi15, Harebell Road, Ipswich, Suffolk IP2 0LS2
£187K02/210.49 mi3, Harebell Road, Ipswich, Suffolk IP2 0LS2
£165K01/210.49 mi55, Lavenham Road, Ipswich, Suffolk IP2 0LA2
£190K07/210.56 mi9, Dombey Road, Ipswich, Suffolk IP2 0JS2
£168.5K02/210.64 mi5, Milnrow, Ipswich, Suffolk IP2 0SN2
£215K02/230.64 mi9, Milnrow, Ipswich, Suffolk IP2 0SN2
£170K12/200.68 mi9, Matlock Close, Ipswich, Suffolk IP2 9XU2
£220K12/220.69 mi10, Innes End, Ipswich, Suffolk IP8 3RZ2
£215K09/210.73 mi23, Wentworth Drive, Ipswich, Suffolk IP8 3RX2
£215K07/230.74 mi64, Broad Meadow, Ipswich, Suffolk IP8 3SP2
£185K11/200.76 mi8, Dawnbrook Close, Ipswich, Suffolk IP2 9JW2
£220K11/210.76 mi55, Allenby Road, Ipswich, Suffolk IP2 0EN2
£172.5K11/200.77 mi40, Annbrook Road, Ipswich, Suffolk IP2 9JN2
£210K06/210.77 mi452, Birkfield Drive, Ipswich, Suffolk IP2 9JD2
£212K06/210.78 mi24, Broad Meadow, Ipswich, Suffolk IP8 3SP2
£220K07/220.8 mi24, Buttercup Close, Ipswich, Suffolk IP8 3RG2
£222.5K10/220.81 mi30, Buttercup Close, Ipswich, Suffolk IP8 3RG2
£180K12/200.81 mi30, Buttercup Close, Ipswich, Suffolk IP8 3RG2
£380K07/230.81 mi86, Sandringham Close, Ipswich, Suffolk IP2 9DU2
£205K01/210.81 mi15, Ritabrook Road, Ipswich, Suffolk IP2 9JH2
£195K03/210.81 mi28, Ritabrook Road, Ipswich, Suffolk IP2 9JH2
£205K12/200.81 mi17, Ritabrook Road, Ipswich, Suffolk IP2 9JH2
£265K04/230.81 mi28, Ritabrook Road, Ipswich, Suffolk IP2 9JH2
£209K06/230.82 mi31, Acer Grove, Ipswich, Suffolk IP8 3RR2
£230K08/230.83 mi1, Tinabrook Close, Ipswich, Suffolk IP2 9JG2
£220K08/220.84 mi2, Bishop Mews, Ipswich, Suffolk IP8 3SY2
£280K06/230.88 mi68, Sandringham Close, Ipswich, Suffolk IP2 9DT2
£273K01/230.88 mi11, Appleby Close, Ipswich, Suffolk IP2 9XS2
£200K12/220.9 mi49, Ranelagh Road, Ipswich, Suffolk IP2 0AD2
£130K10/200.9 mi29, Ranelagh Road, Ipswich, Suffolk IP2 0AD2
£278K03/210.9 mi62, Holyrood Close, Ipswich, Suffolk IP2 9DZ2
£160.5K11/200.91 mi18, Yew Tree Rise, Pinewood, Ipswich, Suffolk IP8 3RJ2
£211K02/230.91 mi483, Birkfield Drive, Ipswich, Suffolk IP2 9JE2
£180K02/210.91 mi176, Ranelagh Road, Ipswich, Suffolk IP2 0AB2
£320K11/220.92 mi20, Balmoral Close, Ipswich, Suffolk IP2 9EJ2
£175K06/210.93 mi41, Yew Tree Rise, Pinewood, Ipswich, Suffolk IP8 3RH2
£185K04/210.93 mi53, Yew Tree Rise, Pinewood, Ipswich, Suffolk IP8 3RH2
£185K11/200.93 mi27, Yew Tree Rise, Pinewood, Ipswich, Suffolk IP8 3RH2
£210K05/230.93 mi53, Yew Tree Rise, Pinewood, Ipswich, Suffolk IP8 3RH2
£240K10/220.93 mi37, Yew Tree Rise, Pinewood, Ipswich, Suffolk IP8 3RH2
£350K06/210.94 mi22, Balmoral Close, Ipswich, Suffolk IP2 9EJ2
£175K12/200.98 mi69, Cullingham Road, Ipswich, Suffolk IP1 2EG2
£185K01/210.98 mi67, Cullingham Road, Ipswich, Suffolk IP1 2EG2
£190K06/210.98 mi11, Heatherhayes, Ipswich, Suffolk IP2 9DE2

Local Rents

50 rents from £750/mo to £1.3K/mo, average is £913/mo.

RentDateDistanceAddressBeds 
£1,00004/240.12 miCurlew Road, Ipswich, Suffolk, IP22
£95001/240.21 miLondon Road, Ipswich2
£90001/240.21 miLondon Road, Ipswich2
£90001/240.21 miLondon Road, Ipswich2
£94901/250.51 mi-2
£90004/240.59 miHale Close, Ipswich2
£87504/240.62 miBramblewood, Ipswich2
£92504/240.67 miBirkfield Drive, IPSWICH2
£85011/240.69 mi-2
£87507/240.69 miEmmanuel Close, IPSWICH2
£80004/240.72 miEclipse Court, Stoke Quay2
£94508/240.72 miEclipse Court, Stoke Quay2
£94508/240.72 miEclipse Court, Stoke Quay2
£96008/240.72 miZephyr Court2
£89505/240.73 miWentworth Drive, Ipswich, Suffolk, UK, IP82
£75008/240.74 miDunlop Road, Ipswich2
£97509/240.75 miAnnbrook Road, Ipswich, Suffolk, IP22
£87504/240.82 miAcer Grove, Ipswich2
£1,17504/240.83 miTinabrook Close, Ipswich2
£90007/240.87 miBroomwade Close, Ipswich2
£90007/240.89 miCompair Crescent, Ipswich, IP22
£86504/240.89 miCompair Crescent, Ipswich2
£98512/240.9 mi-2
£98512/240.9 mi-2
£90005/240.91 miGippeswyk Road, Ipswich2
£97505/240.91 miYew Tree Rise, Pinewood, Ipswich, IP82
£89505/240.91 miYew Tree Rise, Pinewood, Ipswich, IP82
£1,10008/240.91 miRanelagh Road, Ipswich2
£87508/240.91 miGaskell Place, IPSWICH2
£88507/240.92 miHolman Court, Ipswich2
£88508/240.92 miHolman Court, Ipswich2
£89505/240.92 miGaskell Place, Ipswich2
£1,19505/240.92 miYew Tree Rise, Pinewood, Ipswich, Suffolk, IP82
£1,25003/240.93 mi-2
£92503/240.93 mi-2
£92511/240.93 mi-2
£95007/240.93 miReavall Place, Ipswich2
£95007/240.93 miReavall Place, Ipswich2
£82501/240.94 miHeatherhayes, Ipswich, Suffolk, IP22
£95008/240.94 miHeatherhayes, IPSWICH2
£85008/240.94 miHeatherhayes, Belstead Road, Ipswich2
£1,00005/240.95 miReavell Place, Ipswich2
£95007/240.95 miReavell Place, Ipswich, Suffolk2
£95008/240.95 miReavell Place, Ipswich, Suffolk2
£1,00008/240.95 miReavell Place, IPSWICH2
£95007/240.95 miReavell Place, Ipswich2
£87506/240.98 miCullingham Road, Ipswich, IP12
£90005/240.98 miGippeswyk Avenue, Ipswich2
£89504/241.02 miYeoman Close, Ipswich, IP12
£87505/241.02 miYeoman Close, Ipswich, IP12

Local Area Statistics

Population in IP2

30,997

Population in Ipswich

219,393

Town centre distance

2.15 miles away

Nearest school

0.20 miles away

Nearest train station

1.11 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-1%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Price changed to £200,000

February 12, 2025

Listed for £210,000

October 28, 2024

Floor Plans

Description

  • SEMI-DETACHED BUNGALOW +
  • TWO DOUBLE BEDROOMS +
  • LOUNGE/DINER +
  • FRONT & REAR GARDENS +
  • SOME MODERNISATION REQUIRED +
  • NO ONWARD CHAIN +

SUMMARY
A Semi-Detached Bungalow being sold with no onward chain situated to the South West of Ipswich. The home is in need of some modernisation and benefits from two double bedrooms, a lounge/diner and front & rear gardens.

DESCRIPTION
Located on the popular Chantry development, you will find this semi-detached bungalow requiring some modernisation. The property benefits from two bedrooms, lounge, diner, kitchen, shower room, extensive front and rear gardens and is offered with no onward chain.
The property is conveniently located for Ipswich's town centre and is within a short drive of local shops and amenities as well as both secondary and primary schools.
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.

Property Details 
The front pathway provides access to the entrance porch, which is accessed via upvc double glazed entrance door which leads to the entrance hallway.
Off the entrance hall, you will find the lounge/diner with views towards the front garden, kitchen which also gives access to the rear garden, two double bedrooms with fitted wardrobe to bedroom one and shower room. All windows are upvc double glazed and the property benefits from gas central heating via a wall mounted boiler. The front and rear gardens are both laid to lawn for easy maintenance. There is also a brick shed to the rear.

Entrance Porch 

Entrance Hall 

Lounge 13' x 13' max ( 3.96m x 3.96m max )

Kitchen 13' x 7' 5" ( 3.96m x 2.26m )

Bedroom One  12' 6" x 10' max ( 3.81m x 3.05m max )

Bedroom Two  10' x 8' ( 3.05m x 2.44m )

Shower Room 

Front And Rear Gardens 

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?

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