2 Bed Flat, Cash/Bridging Only, Ipswich, IP3 0AH, £140,000

John Street, Ipswich, IP3 0AH - 4 months ago

Leasehold
Cash
ROI: 3%
~68 m²
+11 photos

ValuationFair Value

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

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£140,000

 

 

End Value (After Refurb)

£161,191

Uplift in Value

+15%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£8,200

Refurb Costs

£31,639

Bridging Loan Interest

£3,675

Total Cash In

£80,264

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£161,191

Mortgage (After Refinance)

£120,893

Mortgage LTV

75%

Cash Released

£15,893

Cash Left In

£64,370

Equity

£40,298

Rent Range

£800 - £4,000

Rent Estimate

£895

Running Costs/mo

£703

Cashflow/mo

£192

Cashflow/yr

£2,307

ROI

3%

Gross Yield

8%

Local Sold Prices

50 sold prices from £55K to £322.5K, average is £134.5K. £1.5K/m² to £4.3K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£140K11/210.08 mi239, Duke Street, Ipswich, Suffolk IP3 0BX2
£130K10/220.09 mi36, Hope Court, Ipswich, Suffolk IP3 0DX2
£147K10/220.09 mi106, Siloam Place, Ipswich, Suffolk IP3 0FF2
£136K04/230.09 mi92, Siloam Place, Ipswich, Suffolk IP3 0FF2
£138.5K10/220.1 mi19, Hope Court, Ipswich, Suffolk IP3 0DW2
£140K12/220.11 mi32, Siloam Place, Ipswich, Suffolk IP3 0FB2
£119K10/200.11 mi22, Siloam Place, Ipswich, Suffolk IP3 0FB2
£125.5K05/210.11 mi42, Siloam Place, Ipswich, Suffolk IP3 0FB2
£114K01/230.11 mi59, Siloam Place, Ipswich, Suffolk IP3 0FD2
£125K06/210.12 mi6, Isham Place, Ipswich, Suffolk IP3 0DZ2
£151.5K12/200.13 mi53, Pownall Road, Ipswich, Suffolk IP3 0DN2
£130K02/230.13 mi21, Isham Place, Ipswich, Suffolk IP3 0DY2
£110K06/210.13 mi1, Isham Place, Ipswich, Suffolk IP3 0DY2
£134K02/230.13 mi5, Isham Place, Ipswich, Suffolk IP3 0DY2
£135K04/230.15 mi58, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£118K06/210.15 mi32, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£120K04/210.15 mi56, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.15 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£130K11/200.15 mi48, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.15 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£135K05/230.15 mi46, Pownall Road, Ipswich, Suffolk IP3 0DR2
£133K09/220.16 mi93, Pownall Road, Ipswich, Suffolk IP3 0DA2
£322.5K06/230.28 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£315K07/230.28 mi39, Neptune Square, Ipswich, Suffolk IP4 1QH2
£290K02/210.28 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£167K01/210.28 mi10, Neptune Square, Ipswich, Suffolk IP4 1QH2
£255K06/210.28 mi48, Neptune Square, Ipswich, Suffolk IP4 1QH2
£320K04/210.36 mi155, Stoke Quay, Ipswich, Suffolk IP2 8SN2
£108K11/210.5 mi88, Vernon Street, Ipswich, Suffolk IP2 8JB2
£142K02/230.51 mi50, Finbars Walk, Ipswich, Suffolk IP4 1HY2
£120K10/200.54 mi7, Croft Street, Ipswich, Suffolk IP2 8EB2
£137.5K04/230.56 mi31, Seymour Road, Ipswich, Suffolk IP2 8EN2
£135K11/210.57 mi6, Bruff Road, Ipswich, Suffolk IP2 8GY2
£115K08/210.59 mi18, Silk Street, Ipswich, Suffolk IP4 2PA2
£110K10/210.59 mi25, Sinclair Drive, Ipswich, Suffolk IP2 8HZ2
£134K10/220.61 mi16, Silk Street, Ipswich, Suffolk IP4 2PA2
£180K05/210.62 mi12, Fuchsia Lane, Ipswich, Suffolk IP4 1QB2
£155K07/230.64 mi183d, Foxhall Road, Ipswich, Suffolk IP3 8LB2
£110K12/200.66 mi88, Bruff Road, Ipswich, Suffolk IP2 8GX2
£128K12/220.66 mi102, Bruff Road, Ipswich, Suffolk IP2 8GX2
£153.5K12/220.69 mi43, Bruff Road, Ipswich, Suffolk IP2 8GS2
£150K02/210.73 mi72, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£162.5K04/210.73 mi58, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£170K06/210.73 mi54, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£122.5K03/210.73 mi92, Wolsey Street, Ipswich, Suffolk IP1 1AF2
£161K09/210.74 mi15, St Nicholas Court, Ipswich, Suffolk IP1 1TG2
£135K03/230.77 mi125, Cemetery Road, Ipswich, Suffolk IP4 2HZ2
£55K10/200.79 miFlat 17, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS2
£120K01/230.79 miFlat B, Chilton Court, Belstead Avenue, Ipswich, Suffolk IP2 8NS2
£107.5K06/210.79 mi30, Postmill Close, Ipswich, Suffolk IP4 2RF2

Local Rents

52 rents from £800/mo to £4K/mo, average is £1K/mo.

RentDateDistanceAddressBeds 
£87501/240.06 miTye Road, Ipswich, Suffolk, IP32
£1,25012/240.07 mi-2
£1,20012/240.08 mi-2
£1,20012/240.08 mi-2
£95001/240.08 miAnchor Street, Ipswich2
£95004/240.09 miSiloam Place, Modus Development, Ipswich, Suffolk, IP32
£87506/240.09 miHope Court, Modus2
£1,10005/240.09 miAnchor Street, Ipswich2
£1,10012/240.09 mi-2
£85012/240.1 mi-2
£1,15001/240.1 miAnchor Street, Ipswich, Suffolk, IP32
£99504/240.1 mi1 Anchor Street, Orwell Quay, Ipswich, IP32
£1,10005/240.12 miPatteson Road, Ipswich2
£1,10005/240.12 miPatteson Road, IPSWICH2
£85005/240.13 miIsham Place, Ipswich, Suffolk, IP32
£88505/240.13 miIsham Place, Ipswich2
£89512/240.14 mi-2
£95012/240.16 mi-2
£85001/240.16 miPownall Road, Ipswich, Suffolk, IP32
£99504/240.19 miNeptune Marina, Ipswich, IP32
£1,05005/240.19 miCoprolite Street, Ipswich2
£1,10004/240.19 miNeptune Marina, 1 Coprolite Street, Ipswich, Suffolk, IP32
£1,20010/240.19 mi-2
£1,20010/240.19 mi-2
£80012/240.19 miFore Hamlet, Ipswich2
£97505/240.19 miCoprolite Street, Ipswich2
£82501/240.23 miFore Hamlet, Ipswich2
£87505/240.23 miMitre Way, Ipswich2
£90003/250.24 mi-2
£1,15001/240.28 miNeptune Square, Ipswich, IP42
£1,20007/240.28 miNeptune Square, Ipswich, IP42
£95008/240.28 miNeptune Square, Ipswich, IP42
£1,20001/240.28 miNeptune Square, Ipswich, Suffolk, IP42
£1,32504/240.28 miNeptune Square, Ipswich2
£1,20007/240.28 miNeptune Square, Ipswich, IP42
£1,25008/240.28 miNeptune Square, Ipswich, Suffolk, IP42
£1,25008/240.28 miNeptune Square, Ipswich, Suffolk, IP42
£80001/240.33 miFore Street, Ipswich, Suffolk, IP42
£1,00007/240.36 miStoke Quay, IP22
£95008/240.36 miStoke Quay, Ipswich, IP22
£98508/240.37 miStoke Quay, Ipswich2
£98509/240.37 miStoke Quay, Ipswich2
£80005/240.4 miGrimwade Street, Ipswich2
£4,00011/240.4 mi-2
£4,00011/240.4 mi-2
£1,00004/240.4 miThe Winerack, Key Street, Ipswich2
£1,20007/240.4 miThe Winerack, Key Street, Ipswich2
£1,00007/240.4 miThe Winerack, Key Street, Ipswich2
£1,15007/240.4 miThe Winerack, Key Street, Ipswich2
£1,09508/240.4 miThe Cambria, Key Street, Ipswich2
£1,05008/240.4 miThe Winerack, Key Street, Ipswich2
£1,10012/240.4 mi-2

Local Area Statistics

Population in IP3

34,308

Population in Ipswich

219,393

Town centre distance

0.54 miles away

Nearest school

0.40 miles away

Nearest train station

0.74 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+1%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Price changed to £140,000

January 15, 2025

Listed for £150,000

November 25, 2024

Floor Plans

Description

  • INVESTMENT CASH BUYERS ONLY +
  • Two double bedrooms +
  • Juliet balcony on the lounge and each bedroom +
  • Open plan kitchen/lounge/diner +
  • Allocated gated parking space +
  • Tenant in situ paying £895 pcm +
  • Short walk to Ipswich Town Centre +
  • Popular Marina location +

SUMMARY
INVESTMENT CASH BUYERS ONLY This two double bedroom apartment benefits from an open plan kitchen/lounge/diner, a Juliet balcony on the lounge and each bedroom, allocated parking and is a short walk from the town centre.

DESCRIPTION
GUIDE PRICE £140,000 - £150,000

Entrance Hall 17' 9" x 10' 8" max ( 5.41m x 3.25m max )
Carpet flooring, one electric radiator and an airing cupboard housing the boiler.

Kitchen/Lounge/Diner 22' 9" x 13' 7" ( 6.93m x 4.14m )
Spacious open plan room boasting double glazed windows to the rear and side, a Juliet balcony to the rear, spot lights throughout, carpet flooring in the lounge area, tiled effect flooring in the kitchen/diner area, TV point and two electric radiators. The kitchen includes a range of eye and base level units in wood with marble effect roll top surfaces, a circular stainless steel sink with drainer and chrome mixer tap, tiled splash back throughout, integrated oven with electric hob and extractor hood, space for a fridge freezer, washing machine and dishwasher.

Master Bedroom 16' 5" x 9' 9" ( 5.00m x 2.97m )
Double glazed window to the front, a Juliet balcony, electric radiator, carpet flooring, TV point and built in double wardrobes.

Bedroom Two 15' 7" x 7' 5" ( 4.75m x 2.26m )
Double glazed window to the front, a Juliet balcony to the side, carpet flooring an one electric radiator.

Bathroom 7' 1" x 6' 9" ( 2.16m x 2.06m )
Enclosed WC with matching wash hand basin with chrome mixer tap, tiled splash back, a P bath with overhead shower and glass screen, fitted mirror, chrome heated towel rail, extractor fan and spot lights.

Agents Note: 
*Please not there is work being carried out on this property for an EWS1 Certification.
*Please note the building insurance is included in the Service Charge.
*There is a Tenant in situ paying £895 pcm.

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. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

William H. Brown, Ipswich

01473 943298

Next Steps?

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