2 Bed Flat, Refurb/BRRR, Taunton, TA2 6LY, £135,000

52 Gladstone Street, Taunton, TA2 6LY - 2 views - 2 months ago

Sold STC
Leasehold
Cash
Refurb/BRRR
ROI: 3%
73 m²
+2 photos

ValuationFair Value

Sold Prices£58.8K - £215.9K
Sold Prices/m²£1.1K/m² - £3.2K/m²

 

 

Square Metres

73 m²
Price/m²£1.8K/m²

Value Estimate

£135,000

 

 

End Value (After Refurb)

£175,420

Uplift in Value

+30%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£5,250

Refurb Costs

£29,687

Bridging Loan Interest

£3,544

Total Cash In

£73,980

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£175,420

Mortgage (After Refinance)

£131,565

Mortgage LTV

75%

Cash Released

£30,315

Cash Left In

£43,665

Equity

£43,855

Rent Range

£650 - £1,200

Rent Estimate

£979

Running Costs/mo

£764

Cashflow/mo

£215

Cashflow/yr

£2,580

ROI

3%

Gross Yield

9%

Local Sold Prices

50 sold prices from £58.8K to £215.9K, average is £139K. £1.1K/m² to £3.2K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£133K09/210 mi38, Gladstone Street, Taunton, Somerset TA2 6LY2
£156.6K01/230 mi39, Gladstone Street, Taunton, Somerset TA2 6LY2
£110K10/200 mi45, Gladstone Street, Taunton, Somerset TA2 6LY2
£125K09/210 mi50, Gladstone Street, Taunton, Somerset TA2 6LY2
£125K09/220.07 mi35b, Greenway Road, Taunton, Somerset TA2 6LA2
£170K07/230.1 mi63b, George Street, Taunton, Somerset TA2 7DG2
£120K10/200.19 miGround Floor Flat, 43, William Street, Taunton, Somerset TA2 6HG2
£136K09/230.19 miGround Floor Flat, 43, William Street, Taunton, Somerset TA2 6HG2
£138K04/210.21 mi1, Rupert Street, Taunton, Somerset TA2 6JT2
£138K04/210.21 mi1, Rupert Street, Taunton, Somerset TA2 6JT2
£128.5K06/210.21 mi3, Rupert Street, Taunton, Somerset TA2 6JT2
£137K10/210.27 mi27, Wellesley Street, Taunton, Somerset TA2 7DS2
£167K08/230.36 mi181a, Greenway Road, Taunton, Somerset TA2 6LQ2
£170K06/230.41 mi5b, Grange Drive, Taunton, Somerset TA2 7DY2
£215.9K01/230.42 miFlat 10, Elm Park, Elm Grove, Taunton, Somerset TA1 1EH2
£155K03/230.48 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£140K10/200.48 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£122.5K08/210.54 miFlat 2, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£172K07/210.54 mi4, Firepool View, Taunton, Somerset TA1 1PS2
£187K01/230.54 mi16, Firepool View, Taunton, Somerset TA1 1PS2
£173K12/230.55 miFlat 6, Chamberlain House, Richmond Road, Taunton, Somerset TA1 1EP2
£179K02/210.55 mi28, Firepool View, Taunton, Somerset TA1 1PS2
£159K11/200.55 mi36, Firepool View, Taunton, Somerset TA1 1PS2
£138K09/230.55 miFlat 42, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£122.5K09/230.55 miFlat 27, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£175K09/230.56 mi36, Cunningham Court, Taunton, Somerset TA1 1AR2
£147.5K01/210.56 mi2, Cunningham Court, Taunton, Somerset TA1 1AR2
£117.5K11/200.56 mi2a, Lyngford Road, Taunton, Somerset TA2 7EG2
£165K01/230.57 mi35, Cunningham Court, Taunton, Somerset TA1 1AR2
£125K12/200.58 mi23, Northfield Gardens, Taunton, Somerset TA1 1XN2
£60K11/200.59 mi2, Northfield Gardens, Taunton, Somerset TA1 1XN2
£124.6K06/210.59 mi17, Northfield Gardens, Taunton, Somerset TA1 1XN2
£148K06/230.6 miFlat 19, Monmouth Court, Bindon Road, Taunton, Somerset TA2 6AX2
£110K02/210.6 miFlat 1, Monmouth Court, Bindon Road, Taunton, Somerset TA2 6AX2
£185K12/230.61 mi29, Firepool View, Taunton, Somerset TA1 1NY2
£211K11/230.61 mi52, Geoffrey Farrant Walk, Taunton, Somerset TA1 1PU2
£150K02/240.66 mi101, Massingham Park, Taunton, Somerset TA2 7TQ2
£148K12/220.66 mi97, Massingham Park, Taunton, Somerset TA2 7TQ2
£176K05/230.66 miFlat 28, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£175K06/230.66 miFlat 7, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£172.5K08/230.67 mi50, Firepool Crescent, Taunton, Somerset TA1 1AT2
£155K09/220.69 mi17, Massingham Park, Taunton, Somerset TA2 7TG2
£109K04/210.69 mi26, Massingham Park, Taunton, Somerset TA2 7TG2
£58.8K04/210.69 mi112, Massingham Park, Taunton, Somerset TA2 7TH2
£114K05/210.69 mi118, Massingham Park, Taunton, Somerset TA2 7TH2
£115K01/210.69 mi37, Winters Field, Taunton, Somerset TA1 1PY2
£120K01/210.71 mi194, Massingham Park, Taunton, Somerset TA2 7TN2
£135K01/230.71 mi153, Massingham Park, Taunton, Somerset TA2 7TN2
£145K02/230.71 mi194, Massingham Park, Taunton, Somerset TA2 7TN2
£120K01/210.71 mi194, Massingham Park, Taunton, Somerset TA2 7TN2

Local Rents

17 rents from £650/mo to £1.2K/mo, average is £975/mo.

RentDateDistanceAddressBeds 
£89509/240.1 miBelgrave Place, Taunton, TA22
£99503/250.13 mi-2
£1,15012/240.16 mi-2
£1,20009/240.21 mi-2
£1,10009/240.21 miRupert Street, Taunton TA12
£89509/240.24 mi-2
£75003/250.39 mi-2
£1,10009/240.49 miRichmond Road, TAUNTON2
£92509/240.51 miWoodstock Road, Taunton, TA12
£65003/250.51 mi-2
£95003/250.52 mi-2
£99503/250.52 mi-2
£90009/240.55 miRichmond Road 2
£1,10009/240.55 miFirepool View, TAUNTON2
£1,09509/240.55 miStaplegrove Road, TAUNTON2
£95009/240.59 miMonmouth Court, Bindon Road, Taunton, Somerset, TA22
£97504/250.6 mi-2

Local Area Statistics

Population in TA2

26,588

Population in Taunton

85,088

Town centre distance

0.96 miles away

Nearest school

0.20 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Listed for £135,000

February 14, 2025

Floor Plans

Description

  • First Floor Apartment +
  • Two Bedrooms +
  • uPVC Double Glazing +
  • Electric Heating +
  • Single Garage +
  • Communal Gardens +
  • Some Modernisation Required +
  • No Onward Chain +

The property, which would benefit from some updating, benefits from uPVC double glazing and electric heating.

In brief, the spacious accommodation comprises; front door leading into entrance hall with doors to all principle rooms. There is a generous size living room with dual aspect windows to side and rear and an electric heater. The kitchen is fitted with a range of matching wall and base units, work surfaces and tiled splashbacks with space for cooker, washing machine and tall fridge/freezer. There are two bedrooms to the front of the property (bedroom one with built-in wardrobe space) along with a family bathroom comprising of wash hand basin, bath with tiled surround as well as a separate wc. There is also a useful storage cupboard off the hallway. Externally, there are communal gardens and a single garage located in a block close by.

GENERAL REMARKS AND STIPULATIONS:
Tenure: The property is offered for sale leasehold by private treaty with vacant possession on completion.
Lease Information: Service Charges: £132.82 pcm (includes buildings insurance contribution, management fee and reserve fund contribution). Ground Rent N/A
Services: Mains water with meter, mains electricity, mains drainage, electric heating.
Local Authority: Somerset Council, County Hall, The Crescent, Taunton, Somerset, TA1 4DY
Property Location: w3w.co/gave.hill.behave
Council Tax Band: A
EPC: C
Broadband Availability: Ultrafast with up to 1000 Mbps download speed and 1000 Mbps upload speed.
Mobile Phone Coverage: Indoor-limited voice & data with EE, Three & Vodafone; limited voice only with O2. Outdoor-voice & data likely with EE, Three, O2 & Vodafone.
Flood Risk: Rivers & Sea-very low. Surface water-very low.
Agents Note: We understand that a new 999 year lease will commence from the day of completion.

IMPORTANT NOTICE Wilkie May & Tuckwood 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 Wilkie May & Tuckwood has any authority to make or give any representations or warranty whatever in relation to this property on behalf of Wilkie May & Tuckwood, 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 February 2025. MEASUREMENTS AND OTHER INFORMATION All measurements are approximate. While we endeavour to make our sales particular 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

Wilkie May & Tuckwood, Taunton

01823 212604

Next Steps?

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