2 Bed Flat, Cash/Bridging Only, Taunton, TA2 6DA, £155,000

Mill House Road, Norton Fitzwarren, TA2 6DA - 4 months ago

Sold STC
Leasehold
Cash
ROI: 3%
~68 m²
+4 photos

ValuationOvervalued

Sold Prices£60K - £215.9K
Sold Prices/m²£1.1K/m² - £6.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£151,885

 

 

End Value (After Refurb)

£182,744

Uplift in Value

+18%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£38,750

Stamp Duty & Legal Fees

£8,950

Refurb Costs

£27,698

Bridging Loan Interest

£4,069

Total Cash In

£81,217

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£182,744

Mortgage (After Refinance)

£137,058

Mortgage LTV

75%

Cash Released

£20,808

Cash Left In

£60,409

Equity

£45,686

Rent Range

£900 - £1,200

Rent Estimate

£1,014

Running Costs/mo

£794

Cashflow/mo

£220

Cashflow/yr

£2,641

ROI

3%

Gross Yield

8%

Local Sold Prices

50 sold prices from £60K to £215.9K, average is £137.5K. £1.1K/m² to £6.8K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£130K02/210.03 mi52, Mill House Road, Norton Fitzwarren, Taunton, Somerset TA2 6DA2
£128K11/210.03 mi51, Mill House Road, Norton Fitzwarren, Taunton, Somerset TA2 6DA2
£150.3K08/220.1 mi71, Morse Road, Norton Fitzwarren, Taunton, Somerset TA2 6BS2
£121.5K05/210.1 mi73, Morse Road, Norton Fitzwarren, Taunton, Somerset TA2 6BS2
£126K06/210.1 mi72, Morse Road, Norton Fitzwarren, Taunton, Somerset TA2 6BS2
£155K02/230.38 mi53, Yarlington Close, Norton Fitzwarren, Taunton, Somerset TA2 6RR2
£125K10/200.71 mi24, Farrant Close, Bishops Hull, Taunton, Somerset TA1 5EL2
£138K03/210.73 mi2, Parsonage Court, Bishops Hull, Taunton, Somerset TA1 5HR2
£105K02/240.74 mi18, Parsonage Court, Bishops Hull, Taunton, Somerset TA1 5HR2
£132K11/230.84 mi73, Darwin Close, Taunton, Somerset TA2 6TR2
£156K06/230.91 mi11, Haydon Close, Bishops Hull, Taunton, Somerset TA1 5HF2
£150K03/230.91 mi8, Haydon Close, Bishops Hull, Taunton, Somerset TA1 5HF2
£120K11/201.06 mi7a, Smithy, Bishops Hull, Taunton, Somerset TA1 5DT2
£148K06/231.25 miFlat 19, Monmouth Court, Bindon Road, Taunton, Somerset TA2 6AX2
£110K02/211.25 miFlat 1, Monmouth Court, Bindon Road, Taunton, Somerset TA2 6AX2
£152K08/231.28 mi66c, Deane Drive, Taunton, Somerset TA1 5PR2
£173K12/231.47 miFlat 6, Chamberlain House, Richmond Road, Taunton, Somerset TA1 1EP2
£167K08/231.49 mi181a, Greenway Road, Taunton, Somerset TA2 6LQ2
£175K10/231.65 miFlat 3, Essex Court, Essex Drive, Taunton, Somerset TA1 4JZ2
£215.9K01/231.67 miFlat 10, Elm Park, Elm Grove, Taunton, Somerset TA1 1EH2
£155K10/211.67 miFlat 2, Wiltshire Court, Wiltshire Close, Taunton, Somerset TA1 4JS2
£176K05/231.7 miFlat 28, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£175K06/231.7 miFlat 7, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£125K12/201.73 mi23, Northfield Gardens, Taunton, Somerset TA1 1XN2
£60K11/201.74 mi2, Northfield Gardens, Taunton, Somerset TA1 1XN2
£137K09/211.75 miFlat 44, Seville Court, Burchs Close, Taunton, Somerset TA1 4TR2
£160K05/211.76 miFlat 4, Bath House Court, Wellington Road, Taunton, Somerset TA1 4EQ2
£180K10/201.76 miFlat 8, Bath House Court, Wellington Road, Taunton, Somerset TA1 4EQ2
£124.6K06/211.77 mi17, Northfield Gardens, Taunton, Somerset TA1 1XN2
£138K04/211.79 mi1, Rupert Street, Taunton, Somerset TA2 6JT2
£138K04/211.79 mi1, Rupert Street, Taunton, Somerset TA2 6JT2
£128.5K06/211.79 mi3, Rupert Street, Taunton, Somerset TA2 6JT2
£155K03/231.8 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£140K10/201.8 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£193K01/231.83 miFlat 9, Haseley Court, Ferndown Close, Taunton, Somerset TA1 4TL2
£180K02/241.83 miHaseley Court, Flat 11, Ferndown Close, Taunton, Somerset TA1 4TL2
£180K07/231.83 miFlat 4, Blythe Court, Ferndown Close, Taunton, Somerset TA1 4TJ2
£182K01/231.83 miFlat 9, Blythe Court, Ferndown Close, Taunton, Somerset TA1 4TJ2
£133K09/211.84 mi38, Gladstone Street, Taunton, Somerset TA2 6LY2
£156.6K01/231.84 mi39, Gladstone Street, Taunton, Somerset TA2 6LY2
£110K10/201.84 mi45, Gladstone Street, Taunton, Somerset TA2 6LY2
£125K09/211.84 mi50, Gladstone Street, Taunton, Somerset TA2 6LY2
£130K03/211.86 miFlat 6, Dovetail Court, Park Street, Taunton, Somerset TA1 4DF2
£122K12/201.86 miFlat 8, Dovetail Court, Park Street, Taunton, Somerset TA1 4DF2
£105K06/211.86 mi11c, Park Street, Taunton, Somerset TA1 4DF2
£125K09/221.86 mi35b, Greenway Road, Taunton, Somerset TA2 6LA2
£136K09/231.86 miGround Floor Flat, 43, William Street, Taunton, Somerset TA2 6HG2
£130K08/211.86 miFlat 1, Minster Court, Windsor Close, Taunton, Somerset TA1 4LW2
£136K03/211.86 miFlat 8, Minster Court, Windsor Close, Taunton, Somerset TA1 4LW2
£130K06/211.87 miFlat 4, Dovetail Court, Park Street, Taunton, Somerset TA1 4DF2

Local Rents

11 rents from £900/mo to £1.2K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£95001/240.05 mi-2
£95012/230.05 mi-2
£1,10001/240.1 mi-2
£1,10009/240.13 miMorse Road, Norton Fitzwarren, Taunton2
£90009/240.14 miMarshall Court, Norton Fitzwarren, Somerset2
£92509/240.32 mi-2
£92509/240.32 mi-2
£92507/240.32 mi-2
£1,20009/240.46 miApple Tree Close, Norton Fitzwarren, TAUNTON2
£1,10003/250.54 mi-2
£99002/240.57 mi-2

Local Area Statistics

Population in TA2

26,588

Population in Taunton

85,088

Town centre distance

2.30 miles away

Nearest school

0.30 miles away

Nearest train station

1.98 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Price changed to £155,000

January 11, 2025

Listed for £160,000

November 25, 2024

Floor Plans

Description

  • Allocated Parking +
  • Good Transport Links +
  • Sought After Location +
  • Good Condition Throughout +

This is a lovely two double bedroom, spacious apartment located in Norton Fitzwarren’s Mill House Road. The apartment is in good condition throughout and benefits from being on the second floor.

The property comprises…

Entrance Hall With intercom system, doors to...

Living Room 13' 10" x 11' 9"

Kitchen 9' 10'' x 6' 9"

Bedroom One 12' 8" x 9' 10"

Bedroom Two 13' x 8' 11"

Bathroom With sink, bath and toilet

Parking Allocated parking space

IMPORTANT NOTICE: The Property Centre for themselves and for the vendors of the property, whose agents they are, give notice that: 1. the particulars are intended to give a fair and substantially correct overall description for the guidance of intending purchaser and do not constitute part of an offer or contract. Prospective purchasers and lessees ought to seek their own professional advice. 2. All descriptions, dimensions, areas, reference to condition and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of The Property Centre has any authority to make or give any representations or warranty whatever in relation to this property on behalf of The Property Centre, nor enter into any contract on behalf of the vendor. 4. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold, let or withdrawn.

Photographs taken and details prepared November 2024.

MEASUREMENTS AND OTHER INFORMATION: All measurements are approximate. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the information with you. Code of Practice for Residential Estate Agents: Effective from 1 August 2011: '8. Financial Evaluation 8a At the time that an offer has been made and is being considered by the seller, you must take reasonable steps to find out from the prospective buyer the source and availability of his funds for buying the property and pass this information to the seller. Such information will include whether the prospective buyer needs to sell a property, requires a mortgage, claims to be a cash buyer or any combination of these. Such relevant information that is available should be included in the Memorandum of Sale having regard to the provisions of the Data Protection Act.8b These reasonable steps must continue after acceptance of the offer until exchange of contracts (in Scotland, conclusion of missives) and must include regular monitoring of the prospective buyer's progress in achieving the funds required, and reporting such progress to the seller. The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for their purpose. A Buyer is advised to obtain verification from their solicitor or surveyor. References to the Tenure of the Property are based on information supplied by the Seller. The agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.

Agent Details

The Property Centre, Taunton

01823 589603

Next Steps?

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