4 Bed Detached House, Refurb/BRRR, Felixstowe, IP11 7RN, £450,000

Mill Lane, Felixstowe, Suffolk, IP11 7RN - 2 views - 3 months ago

Sold STC
Refurb/BRRR
~129 m²
+10 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£112,500

Stamp Duty & Legal Fees

£24,700

Refurb Costs

£60,400

Bridging Loan Interest

£11,813

Total Cash In

£211,163

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£406,225

Mortgage (After Refinance)

£304,669

Mortgage LTV

75%

Cash Left In

£211,163

Equity

£101,556

Rent Range

£950 - £2,700

Rent Estimate

£1,312

Running Costs/mo

£1,552

Cashflow/mo

£-240

Cashflow/yr

£-2,878

Gross Yield

3%













Local Rents

13 rents from £950/mo to £2.7K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,50005/240.01 miMill Lane, Felixstowe, IP114
£1,00004/240.09 mi-3
£2,70011/230.35 mi-3
£1,27504/240.35 miChester Road, Felixstowe3
£1,10002/250.36 mi-3
£95012/240.39 mi-3
£1,05005/240.41 miHigh Road West, Felixstowe, IP113
£1,19504/240.41 miHolland Road, Felixstowe3
£1,00005/240.42 miGainsborough Road, Felixstowe3
£1,10005/240.45 miKingsfleet Road, Felixstowe3
£1,10004/240.5 miGraham Road, Felixstowe3
£1,50002/250.56 mi-5
£1,20004/240.61 miQueen Street, Walton3

Local Area Statistics

Population in IP11

29,290

Population in Felixstowe

29,294

Town centre distance

0.20 miles away

Nearest school

0.50 miles away

Nearest train station

0.37 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

0%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £450,000

December 2, 2024

Floor Plans

Description

  • No onward chain +
  • Walking distance to town centre +
  • Close to seafront +
  • Scope for improvement +
  • garage and parking +
  • Easy access to A12/A14 +

A spacious family home, requiring general modernisation, offering over 1,500 sq ft of living space. Ideally located just a short walk from the town center, seafront, and train station.

The front door opens into a spacious hallway providing access to all rooms, a storage cupboard, and stairs leading to the first floor. At the front of the property, there are two rooms: a double-aspect family room and a large sitting room with a focal fireplace and a bay window. The dining room leads through to a generously sized, light-filled, triple-aspect kitchen. The kitchen, which has access to the rear garden, features a range of matching wall and base units, an undercounter fridge and separate freezer, an eye-level double oven, and a sink. Completing the ground floor is a shower room, which also houses the floor-mounted Ideal boiler.

The first floor comprises three double bedrooms and a single room, which could be used as a study. The main bedroom is generously sized and features a lovely bay window. There is a bathroom with a sink and basin, as well as a separate WC. The hallway is flooded with natural light from a large floor-to-ceiling window on the half landing.

The outside
The front of the property features a paved driveway, a lawned front garden, and access to both sides of the house leading to the rear garden. There is a single garage with a personnel door to the side. The rear garden is primarily laid to lawn with shrub borders.

Location

Located in a sought after residential location situated within a short walk from the popular East Coast of Suffolk which is becoming the next sought after area for coastal living. Felixstowe offers easy access to the A12/A14 and has rail services to London Liverpool Street, Cambridge and Norwich. There are four miles of beach which run from Languard Point with its 18th Century Fort to Felixstowe Ferry which is a charming fishing hamlet and home to the Felixstowe Ferry Sailing Club. The town centre has a wide variety of shops, theatre, ample bars, restaurants and recreational facilities including the leisure centre, tennis club, golf club, rugby club, cricket club and Golf club.

Directions

Please use Sat Nav directions IP11 7RN

Important Information

Council Tax Band - E
Services - We understand that mains water, drainage, gas and electricity are connected to the property.
Tenure - Freehold
EPC rating - E
Our ref - RJH

Agent Details

Fenn Wright, Felixstowe

01394 331602

Next Steps?

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