2 Bed Flat, Single Let, Felixstowe, IP11 2EP, £160,000

Landguard Court, Sea Road, Felixstowe, IP11 2EP - 6 views - 5 months ago

Leasehold
BTL
ROI: 3%
~68 m²
+2 photos

ValuationUndervalued

Sold Prices£86K - £420K
Sold Prices/m²£1.9K/m² - £4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£183,610
BMV15%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£6,000

Total Cash In

£46,000

 

 

Cash Out

 

Rent Range

£850 - £1,300

Rent Estimate

£775

Running Costs/mo

£675

Cashflow/mo

£100

Cashflow/yr

£1,200

ROI

3%

Gross Yield

6%

Local Sold Prices

20 sold prices from £86K to £420K, average is £180.8K. £1.9K/m² to £4K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£115K01/230.06 miFlat 2, Russell Court, Beach Station Road, Felixstowe, Suffolk IP11 2DR2
£135K11/220.42 mi7a, Langer Road, Felixstowe, Suffolk IP11 2BT2
£174K03/230.75 mi11, Tower Road, Felixstowe, Suffolk IP11 7PR2
£165K12/210.75 mi67, Tower Road, Felixstowe, Suffolk IP11 7PR2
£187.5K05/210.75 mi45, Tower Road, Felixstowe, Suffolk IP11 7PR2
£190K01/230.75 mi40, Tower Road, Felixstowe, Suffolk IP11 7PR2
£230K01/230.79 mi16, St Johns Court, Felixstowe, Suffolk IP11 7SG2
£155K12/200.81 miFlat 1, Edward Cordy House, Orwell Road, Felixstowe, Suffolk IP11 7NY2
£280K03/210.84 mi52, Tomline Road, Felixstowe, Suffolk IP11 7PA2
£142.5K12/221.19 mi73a, High Road West, Felixstowe, Suffolk IP11 9AA2
£86K03/211.31 miFlat 17, Rowland House, Winston Close, Felixstowe, Suffolk IP11 2FA2
£110K10/221.31 miFlat 12, Rowland House, Winston Close, Felixstowe, Suffolk IP11 2FA2
£120K05/231.31 miFlat 26, Rowland House, Winston Close, Felixstowe, Suffolk IP11 2FA2
£159K11/221.34 miFlat 4, The House Martins, Cage Lane, Felixstowe, Suffolk IP11 9BH2
£335K11/211.36 mi9a, High Beach, Felixstowe, Suffolk IP11 7LE2
£315K12/201.41 miFlat 1, Beach Place, Undercliff Road East, Felixstowe, Suffolk IP11 7LW2
£280K11/201.41 miFlat 5, Beach Place, Undercliff Road East, Felixstowe, Suffolk IP11 7LW2
£285K10/201.41 miFlat 2, Beach Place, Undercliff Road East, Felixstowe, Suffolk IP11 7LW2
£420K06/211.65 miApartment 6, Cranmer Cliff Gardens, Maybush Lane, Felixstowe, Suffolk IP11 7NH2
£400K11/201.65 miApartment 3, Cranmer Cliff Gardens, Maybush Lane, Felixstowe, Suffolk IP11 7NH2

Local Rents

11 rents from £850/mo to £1.3K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£89506/240.06 miBeach Station Road, Felixstowe2
£89506/240.06 miRussell Court, Felixstowe2
£1,25005/240.4 miSea Road, Felixstowe2
£1,05005/240.43 miMelrose House, Granville Road, Felixstowe, Suffolk, IP112
£1,15009/230.45 mi-2
£87504/240.48 mi-2
£92509/230.48 mi-2
£90003/250.48 mi-2
£85004/240.49 miMelrose House, Granville Road, Felixstowe, Suffolk, IP112
£1,30010/240.49 mi-2
£89505/240.62 miWolsey Gardens, Felixstowe, Suffolk, IP112

Local Area Statistics

Population in IP11

29,290

Population in Felixstowe

29,294

Town centre distance

1.04 miles away

Nearest school

0.20 miles away

Nearest train station

1.20 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

0%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £160,000

November 19, 2024

Floor Plans

Description

  • NO ONWARD CHAIN +
  • FIRST FLOOR APARTMENT +
  • COMMUNAL CAR PARK +
  • VIEWING HIGHLY RECOMMENDED +
  • TWO BEDROOMS +
  • SEA VIEWS +
  • ENTRANCE BALCONY +

Being seemingly ideal for a first time buyer or investment purchase the accommodation in brief comprises entrance hall, lounge, kitchen, two bedrooms, shower room.

Additional benefits include a communal car park with allocated off road parking and further visitor spaces.

The property benefits from sea views from the lounge, kitchen and both the bedrooms. Windows are of double glazed construction.

Landguard Court is located on Sea Road and is within close proximity to the Felixstowe Pier and Boardwalk café, family areas including amusements, Beach Street Market and SeaYou café/restaurant, Felixstowe Town Centre is approximately one and a half mile away.

A viewing is highly recommended to appreciate the potential the accommodation has on offer.  

COMMUNAL ENTRANCE DOOR Opening into :- 

COMMUNAL HALLWAY Stairs leading up to all floors. Apartment 6 is located on the first floor with a further door opening into :- 

COVERED ENTRANCE BALCONY Tiled flooring, overlooks communal car park, entrance door opening into :- 

ENTRANCE HALL Secure phone entry system, modern electric radiator, large storage cupboard, further airing cupboard housing hot water tank, space and plumbing available for a washing machine, doors to :- 

LOUNGE 13' 8" x 9' 8" (4.17m x 2.95m) Windows to both front and side aspect with sea views, electric feature fire place, TV point.  

KITCHEN 10' 1" x 7' 2" (3.07m x 2.18m) Fitted worktops with a tiled splashback, fitted storage units and drawers below, stainless steel one and a half bowl sink unit with mixer tap and single drainer, breakfast bar, space available for freestanding cooker and fridge/freezer, window to front aspect with sea views. 

BEDROOM 1 10' 6" x 9' 8" (3.2m x 2.95m) Window to side aspect with sea views. 

BEDROOM 2 12' 3" x 7' 4" (3.73m x 2.24m) Window to side aspect with sea views.  

SHOWER ROOM 7' 11" x 4' 8" (2.41m x 1.42m) Suite comprising low level WC, hand wash basin with mixer tap, shower cubicle with electric shower over, extractor. 

OUTSIDE Behind Landguard Court is a communal car park with allocated off road parking and additional visitor spaces available.  

TENURE - LEASEHOLD We understand from the current owner that the current lease expires in 2103 therefore having 79 years remaining.  

SERVICE CHARGE & GROUND RENT We understand from the current owners the annual ground rent is £58.

We also understand there is no set service charge in place, with the following explanation from the management company: The owners of the property do not pay a service charge. This is because all of the repairs and maintenance for the communal areas both internally and externally, are down to the owners of the properties to carry out. Each property would have its own lease, which details what communal areas that owner is responsible for; it is therefore down to the liable leaseholder(s) to address any maintenance issues on site.

Additional charges include share of the buildings insurance from which we understand from the current owners is approximately £300 per annum. 

COUNCIL TAX Band 'B'

Agent Details

ScottBeckett, Felixstowe

01394 331688

Next Steps?

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