2 Bed Flat, Cash/Bridging Only, Ipswich, IP1 3PE, £100,000

2 St Nicholas Street, Ipswich, Suffolk, IP1 1TJ - 1 views - 5 months ago

Leasehold
Cash
ROI: 5%
~56 m²
+8 photos

ValuationFair Value

Sold Prices£64K - £322.5K
Sold Prices/m²£1.7K/m² - £4.3K/m²

 

 

Square Metres

~56.20 m²
Price/m²£1.8K/m²

Value Estimate

£102,000

 

 

End Value (After Refurb)

£153,954

Uplift in Value

+54%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£6,200

Refurb Costs

£26,179

Bridging Loan Interest

£2,625

Total Cash In

£61,754

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£153,954

Agent Fees (1%)

£1,540

Bridging Loan

£75,000

Bridging Loan Interest

£2,625

Flip Profit

£15,660

Local Sold Prices

50 sold prices from £64K to £322.5K, average is £136K. £1.7K/m² to £4.3K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£167.5K11/220.27 miFlat F, 26, Fonnereau Road, Ipswich, Suffolk IP1 3JP2
£105K11/210.27 mi47, Bramford Road, Ipswich, Suffolk IP1 2LU2
£115K09/210.33 mi42, Wellington Street, Ipswich, Suffolk IP1 2NZ2
£110K12/200.55 mi184, Yeoman Close, Ipswich, Suffolk IP1 2QB2
£161K09/210.55 mi15, St Nicholas Court, Ipswich, Suffolk IP1 1TG2
£120K11/200.56 mi134, Yeoman Close, Ipswich, Suffolk IP1 2QE2
£120K11/200.56 mi134, Yeoman Close, Ipswich, Suffolk IP1 2QE2
£142K05/230.57 mi49, Cullingham Road, Ipswich, Suffolk IP1 2EG2
£165K12/220.59 miFlat 21, Henley Court, Henley Road, Ipswich, Suffolk IP1 3SD2
£150K02/210.62 mi72, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£162.5K04/210.62 mi58, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£170K06/210.62 mi54, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£122.5K03/210.62 mi92, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£134K10/220.72 mi16, Silk Street, Ipswich, Suffolk IP4 2PA2
£139K11/220.73 mi53, Reavell Place, Ipswich, Suffolk IP2 0ET2
£115K08/210.73 mi18, Silk Street, Ipswich, Suffolk IP4 2PA2
£127.8K03/210.74 mi64, Fulham Way, Ipswich, Suffolk IP1 4FD2
£135K03/230.77 mi125, Cemetery Road, Ipswich, Suffolk IP4 2HZ2
£137.5K10/220.77 mi42, Holman Court, Ipswich, Suffolk IP2 0ES2
£121K05/210.77 mi50, Holman Court, Ipswich, Suffolk IP2 0ES2
£130K05/210.77 mi46, Holman Court, Ipswich, Suffolk IP2 0ES2
£132.5K02/210.77 mi6, Holman Court, Ipswich, Suffolk IP2 0ES2
£120K02/230.77 mi34, Holman Court, Ipswich, Suffolk IP2 0ES2
£130K11/220.78 mi62, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£137K12/210.78 mi70, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£150K10/220.78 mi95, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£123.5K10/200.78 mi117, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£110K04/210.78 mi101, Compair Crescent, Ipswich, Suffolk IP2 0EJ2
£121K05/210.78 mi50, Holman Court, Ipswich, Suffolk IP2 0ES2
£127K09/210.79 mi4, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£135K02/230.79 mi58, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£140K03/230.79 mi68, Compair Crescent, Ipswich, Suffolk IP2 0EH2
£137.5K12/220.81 mi54, Holman Court, Ipswich, Suffolk IP2 0ES2
£64K03/230.88 miFlat 510, The Spectrum, Dunlop Road, Ipswich, Suffolk IP2 0UJ2
£130K04/210.92 mi31, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£138K04/210.92 mi23, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£145K08/210.92 mi133, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£148.5K10/200.92 mi113, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£145K06/210.92 mi25, Meridian Rise, Ipswich, Suffolk IP4 2GF2
£108K11/210.94 mi88, Vernon Street, Ipswich, Suffolk IP2 8JB2
£145K07/210.94 mi12, Meridian Rise, Ipswich, Suffolk IP4 2GA2
£146.5K01/230.94 mi7, Haslemere Drive, Ipswich, Suffolk IP4 2PP2
£134.5K07/210.94 mi1, Haslemere Drive, Ipswich, Suffolk IP4 2PP2
£137.5K04/230.98 mi31, Seymour Road, Ipswich, Suffolk IP2 8EN2
£322.5K06/230.98 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£315K07/230.98 mi39, Neptune Square, Ipswich, Suffolk IP4 1QH2
£290K02/210.98 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£167K01/210.98 mi10, Neptune Square, Ipswich, Suffolk IP4 1QH2
£255K06/210.98 mi48, Neptune Square, Ipswich, Suffolk IP4 1QH2
£115K04/210.99 mi40d, Pickwick Road, Ipswich, Suffolk IP2 0JP2

Local Rents

51 rents from £695/mo to £1.8K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£92505/240.05 miNewson Street, Ipswich2
£1,00003/240.12 mi-2
£85004/240.13 miAnn Street, Ipswich, IP12
£90005/240.13 miAnn Street, Ipswich, IP12
£85005/240.15 miBerners Street2
£82505/240.15 miBerners Street, IP1 2
£1,15012/240.18 mi-2
£1,80004/250.18 mi-2
£1,40004/240.18 mi-2
£1,20004/240.18 mi-2
£1,05011/240.18 mi-2
£87512/240.2 mi-2
£85012/240.23 mi-2
£99504/240.24 miFonnereau Road, Ipswich2
£87501/240.24 mi-2
£79505/240.27 miSt. Georges Street, IPSWICH2
£85004/240.29 miRendlesham Road, IP12
£90003/240.29 miBulwer Road, Ipswich, Suffolk, IP12
£90004/240.3 miRendlesham Road, Ipswich, Suffolk, IP12
£85004/240.31 miRendlesham Road, Ipswich2
£82504/240.31 miChevallier Street, Ipswich, IP12
£85006/240.31 mi25 Elm Street, Ipswich, IP12
£95005/240.32 miWellington Street, IPSWICH2
£89506/240.32 miProvidence Lane, Ipswich, IP12
£97508/240.34 mi-2
£85004/240.34 miNorwich Court, Chevallier Street, Ipswich, Suffolk, IP12
£82505/240.34 miNorwich Court, Chevallier Street, Ipswich, Suffolk, IP12
£82504/240.35 mi-2
£95003/240.36 mi-2
£90012/240.36 mi-2
£92502/250.36 mi-2
£69512/230.37 mi-2
£85006/240.37 miConstitution Hill, Ipswich, Suffolk, UK, IP12
£95005/240.38 miBurlington Road, Ipswich2
£80004/240.4 miChevallier Street, Ipswich, Suffolk, IP12
£97506/240.42 miFootmans, Lloyd Avenue 2
£1,20006/240.43 miMuseum Street, Ipswich2
£1,10004/240.43 miMuseum Street, Ipswich2
£1,20005/240.43 miMuseum Street, IPSWICH2
£1,10004/240.43 miArcade Street, Ipswich2
£1,10005/240.44 miArcade Street, IPSWICH2
£86003/240.44 mi-2
£1,10011/240.45 mi-2
£1,10011/240.45 mi-2
£1,20005/240.46 miElm Street, Ipswich2
£77504/240.46 miLondon Road, Ipswich, IP12
£80006/240.47 miLondon Road, Ipswich2
£99504/240.49 mi-2
£80004/240.49 miNorwich Road, Ipswich, Suffolk, IP12
£95004/240.5 miPrinces Street, Ipswich, IP12
£69504/240.51 miPrinces Street, Ipswich, IP12

Local Area Statistics

Population in IP1

39,363

Population in Ipswich

219,393

Town centre distance

0.97 miles away

Nearest school

0.20 miles away

Nearest train station

0.85 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+50%

Sales demand

Balanced market

Capital growth (5yrs)

+29%

Property History

Price changed to £100,000

March 28, 2025

Price changed to £115,000

December 12, 2024

Listed for £125,000

November 14, 2024

Floor Plans

Description

  • CASH BUYERS ONLY +
  • Heart of Ipswich Town Centre +
  • First Floor Apartment +
  • No Onward Chain +
  • Two Bedrooms +
  • Rear Private Garden +
  • Parking space +

* CASH BUYERS ONLY *

Situated in the heart of Ipswich town centre lies this nicely presented two bedroom first floor apartment which benefits from gas central heating, parking and is being offered to the market with no-onward chain to CASH BUYERS ONLY. As agents, we recommend the earliest possible internal viewing to appreciate the accommodation on offer which comprises entrance hall, lounge / dining area, kitchen, two good size bedrooms, and bathroom.

Leasehold information:
Lease - 125 years from 25.12.1989
Service charge - £2,130.78 per annum payable in 2 instalments of £1,065.39
Ground rent - £100 per annum

The county town of Ipswich offers a range of local amenities including schools, university, shops, doctors, dental surgeries, hospital, two theatres, parks including the popular Orwell Country Park, recreational facilities, and mainline railway station providing direct links to London Liverpool Street Station. The vibrant waterfront has undergone an extensive rebuilding and gentrification programme and now boasts some fashionable bars and restaurants, together with the University of Suffolk.

Council tax band: B
EPC Rating: E

Agent Details

Palmer & Partners, Suffolk

01473 211705

Next Steps?

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