2 Bed Flat, Cash/Bridging Only, Helston, TR13 8PT, £150,000

23 Wendron Street, Helston, TR13 8PT - 2 views - a month ago

Leasehold
Cash
ROI: 2%
~65 m²
+5 photos

ValuationFair Value

Sold Prices£110K - £495K
Sold Prices/m²£1.9K/m² - £4.3K/m²

 

 

Square Metres

~65 m²
Price/m²£2.3K/m²

Value Estimate

£150,000

 

 

End Value (After Refurb)

£191,950

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£37,500

Stamp Duty & Legal Fees

£9,200

Refurb Costs

£28,509

Bridging Loan Interest

£3,938

Total Cash In

£80,896

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£191,950

Mortgage (After Refinance)

£143,962

Mortgage LTV

75%

Cash Released

£31,462

Cash Left In

£49,434

Equity

£47,987

Rent Range

£875 - £975

Rent Estimate

£930

Running Costs/mo

£806

Cashflow/mo

£124

Cashflow/yr

£1,490

ROI

2%

Gross Yield

7%

Local Sold Prices

17 sold prices from £110K to £495K, average is £165K. £1.9K/m² to £4.3K/m², average is £3.3K/m².

PriceDateDistanceAddressBeds 
£119K12/210.09 mi27a, Meneage Street, Helston, Cornwall TR13 8AA2
£110K09/210.09 mi20, Trevenen Road, Helston, Cornwall TR13 8AH2
£156K08/220.21 mi32, Penberthy Road, Helston, Cornwall TR13 8AS2
£165K08/220.25 mi35, Trelawney Road, Helston, Cornwall TR13 8AT2
£128.5K03/220.26 mi72, Penberthy Road, Helston, Cornwall TR13 8AR2
£140K09/210.26 mi35, Trelawney Road, Helston, Cornwall TR13 8AT2
£145K08/230.3 mi21, St Johns Road, Helston, Cornwall TR13 8HR2
£305K01/210.35 miMorfu, Hillcrest, Helston, Cornwall TR13 8UW2
£174.5K09/230.42 mi4, Grenville Road, Helston, Cornwall TR13 8DB2
£114K10/200.42 mi2, Hermes Road, Helston, Cornwall TR13 8DD2
£135K04/210.42 mi20, Hermes Road, Helston, Cornwall TR13 8DD2
£197.5K12/211.95 mi20, Tor Close, Porthleven, Helston, Cornwall TR13 9AE2
£190K10/221.97 mi13, Tor Close, Porthleven, Helston, Cornwall TR13 9AE2
£175K08/232.2 mi7, Kestrel Close, Porthleven, Helston, Cornwall TR13 9DU2
£205K09/222.24 mi27, Mounts Bay Terrace, Porthleven, Helston, Cornwall TR13 9ED2
£275K03/212.25 mi8, St Elvans Courtyard, Porthleven, Helston, Cornwall TR13 9FB2
£495K11/232.3 miApartment 12, Monterey, Methleigh Bottoms, Porthleven, Helston, Cornwall TR13 9JR2

Local Rents

11 rents from £875/mo to £975/mo, average is £925/mo.

RentDateDistanceAddressBeds 
£92509/240.12 miChurch Street, Helston, Cornwall2
£92509/240.16 miFive Wells Lane, Helston, Cornwall2
£92509/240.53 miOrchard Close, Helston, Cornwall, TR132
£90009/240.54 miHellis Wartha, Helston, TR132
£90009/240.62 miPlover Avenue, Helston, Cornwall2
£87509/240.73 miGweal Wartha, Helston2
£95012/240.9 mi-2
£95001/250.9 mi-2
£95009/240.9 miSeneschall Park, Helston, TR132
£97504/250.9 mi-2
£95009/240.95 miForth Gwedhen, Heslton2

Local Area Statistics

Population in TR13

19,807

Population in Helston

29,289

Town centre distance

0.28 miles away

Nearest school

0.20 miles away

Nearest train station

7.60 miles away

 

 

Rental growth (12m)

-37%

Sales demand

Balanced market

Capital growth (5yrs)

+30%

Property History

Listed for £150,000

March 18, 2025

Floor Plans

Description

  • SITUATED IN THE HEART OF THE TOWN +
  • TWO BEDROOM, FIRST FLOOR FLAT +
  • SMALL USEFUL OUTSIDE OUTBUILDING +
  • BRIGHT AND SPACIOUS THROUGHOUT +
  • DOUBLE GLAZING AND CENTRAL HEATING +

Situated in the heart of the town, is this two bedroom, first floor flat. The well proportioned property, which benefits from double glazing and central heating, boasts a 21' lounge and to the outside is a small useful outbuilding.

In brief, the accommodation comprises a hall, kitchen, lounge, shower room and two bedrooms.

Helston itself is a bustling market town that stands as a gateway to The Lizard Peninsula which is designated as an area of outstanding natural beauty with many beautiful beaches, coves and cliff top walks. The town has amenities that include, national stores, supermarkets, doctor surgeries, churches and also many clubs and societies. There are a number of well regarded primary schools, a comprehensive school with sixth form college and a leisure centre with indoor heated pool.

An opportunity to purchase a two bedroom, first floor flat in the heart of the Cornish market town of Helston.

THE ACCOMMODATION COMPRISES (dimensions approx)

DOOR TO HALL

HALL
With doors to all rooms, two built-in cupboards and access to the loft,

SHOWER ROOM
Comprising a shower cubicle, pedestal wash basin and a close coupled w.c. There is a frosted window to the rear.

KITCHEN
4.34m (narrowing to 3.51m) x 1.98m (14'3" (narrowing to 11'6") x 6'6")
Comprising working top surfaces, incorporating a sink unit with drainer and mixer tap over, Cupboards and drawers under and wall cupboards over. Built-in appliances include an oven with hob and hood over and fridge freezer. There is a space for a washing machine. An outlook to the rear.

LOUNGE
6.63m x 3.51m (not included bay area) (21'9" x 11'6" (not included bay area))
A good sized lounge, with bay window, and having a built-in cupboards which houses the boiler. The room is dual aspect with an outlook to the front and rear.

BEDROOM ONE
3.58m x 3.51m (11'9" x 11'6")
With an outlook to the front.

BEDROOM TWO
3.58m x 3.51m (maximum measurements) (11'9" x 11'6" (maximum measurements))
With an outlook to the front.

AGENTS NOTE ONE
We are advised that the residence is a leasehold flat with the remainder of a 125 year lease granted in February 2022.

AGENTS NOTE TWO
We are advised that Coastline Housing run the management company for the property.

AGENTS NOTE THREE
We are advised that there is a service charge, paid annually, which is variable depending on what works have been carried out. The vendor advised us that the projected charges for 2025/2026 are £761.67. Service charge, plus building insurance of £146.86. They inform us that this figure includes an adjustment for the previous years works of £323.42 which in affect makes the actual service charge for 2025-2026 an estimate of £438.25.

AGENTS NOTE FOUR
The property is currently tenanted.

AGENTS NOTE FIVE
We are advised that there is an arrangement with the neighbours to be able to walk through the outside space to the rear of the property.

SERVICES
Mains water, electricity, gas and drainage.

VIEWING
To view this property, or any other property we are offering for sale, please call the number on the reverse of the details.

COUNCIL TAX
Council Tax Band A

MOBILE AND BROADBAND
For more information on mobile and broadband services to this property please see attached brochure.

ANTI-MONEY LAUNDERING
We are required by law to ask all purchasers for verified ID prior to instructing a sale

PROOF OF FINANCE - PURCHASERS
Prior to agreeing a sale, we will require proof of financial ability to purchase which will include an agreement in principle for a mortgage and/or proof of cash funds.

CONSERVATION AREA
We understand this property is located in a conservation area. For details of conservation areas visit Cornwall Mapping and use the Council's interactive map.

OUTSIDE
To the left of the steps there is a gate which leads to a small area of garden.

Agent Details

Christophers, Helston

01326 331637

Next Steps?

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