2 Bed Flat, Single Let, Ipswich, IP2 0UJ, £50,000

Dunlop Road, Ipswich, Suffolk, IP2 0UJ - 1 views - 6 months ago

Sold STC

Leasehold

Auction

BTL

ROI: 26%

~68 m²

+2 photos

ValuationUndervalued

Sold Prices	£64K - £190.5K
Sold Prices/m²	£1.6K/m² - £2.7K/m²

Square Metres	~68.11 m²
Price/m²	£734/m²
Value Estimate	£61,000£61,000
BMV	22%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£12,500£12,500
Stamp Duty & Legal Fees	£3,700£3,700
Total Cash In	£16,200£16,200

Cash Out
Rent Range	£695 - £1,850£695 - £1,850
Rent Estimate	£660
Running Costs/mo	£308£308
Cashflow/mo	£352£352
Cashflow/yr	£4,221£4,221
ROI	26%26%
Gross Yield	16%16%

Local Sold Prices

36 sold prices from £64K to £190.5K, average is £130K. £1.6K/m² to £2.7K/m², average is £2.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£64K	03/23	0.07 mi	Flat 510, The Spectrum, Dunlop Road, Ipswich, Suffolk IP2 0UJ	-	-	2	Flat
£115K	04/21	0.08 mi	40d, Pickwick Road, Ipswich, Suffolk IP2 0JP	-	-	2	Flat
£115K	04/21	0.08 mi	40d, Pickwick Road, Ipswich, Suffolk IP2 0JP	-	-	2	Flat
£120K	11/20	0.39 mi	134, Yeoman Close, Ipswich, Suffolk IP1 2QE	£2,667	45	2	Flat
£120K	11/20	0.39 mi	134, Yeoman Close, Ipswich, Suffolk IP1 2QE	£2,667	45	2	Flat
£110K	12/20	0.4 mi	184, Yeoman Close, Ipswich, Suffolk IP1 2QB	£1,803	61	2	Flat
£127.8K	03/21	0.51 mi	64, Fulham Way, Ipswich, Suffolk IP1 4FD	£2,294	56	2	Flat
£142K	05/23	0.53 mi	49, Cullingham Road, Ipswich, Suffolk IP1 2EG	£2,630	54	2	Flat
£150K	10/22	0.64 mi	95, Compair Crescent, Ipswich, Suffolk IP2 0EJ	-	-	2	Flat
£123.5K	10/20	0.64 mi	117, Compair Crescent, Ipswich, Suffolk IP2 0EJ	£2,470	50	2	Flat
£110K	04/21	0.64 mi	101, Compair Crescent, Ipswich, Suffolk IP2 0EJ	£1,803	61	2	Flat
£115K	09/21	0.64 mi	42, Wellington Street, Ipswich, Suffolk IP1 2NZ	£1,797	64	2	Flat
£147K	12/22	0.65 mi	9, Ganymede Close, Ipswich, Suffolk IP1 5AE	£2,262	65	2	Flat
£148K	06/23	0.65 mi	21, Ganymede Close, Ipswich, Suffolk IP1 5AE	-	-	2	Flat
£132.5K	07/21	0.65 mi	25, Ganymede Close, Ipswich, Suffolk IP1 5AE	£2,506	53	2	Flat
£132.5K	07/23	0.65 mi	27, Ganymede Close, Ipswich, Suffolk IP1 5AE	£1,920	69	2	Flat
£139K	11/22	0.65 mi	53, Reavell Place, Ipswich, Suffolk IP2 0ET	-	-	2	Flat
£121K	05/21	0.66 mi	50, Holman Court, Ipswich, Suffolk IP2 0ES	£2,051	59	2	Flat
£130K	05/21	0.66 mi	46, Holman Court, Ipswich, Suffolk IP2 0ES	£2,167	60	2	Flat
£132.5K	02/21	0.66 mi	6, Holman Court, Ipswich, Suffolk IP2 0ES	£2,137	62	2	Flat
£120K	02/23	0.66 mi	34, Holman Court, Ipswich, Suffolk IP2 0ES	-	-	2	Flat
£137.5K	10/22	0.67 mi	42, Holman Court, Ipswich, Suffolk IP2 0ES	£2,304	60	2	Flat
£137.5K	12/22	0.67 mi	54, Holman Court, Ipswich, Suffolk IP2 0ES	£2,218	62	2	Flat
£105K	11/21	0.68 mi	47, Bramford Road, Ipswich, Suffolk IP1 2LU	-	-	2	Flat
£121K	05/21	0.68 mi	50, Holman Court, Ipswich, Suffolk IP2 0ES	£2,051	59	2	Flat
£130K	11/22	0.69 mi	62, Compair Crescent, Ipswich, Suffolk IP2 0EH	-	-	2	Flat
£147.5K	04/23	0.7 mi	46, Hyperion Court, Ipswich, Suffolk IP1 5AJ	£2,307	64	2	Flat
£145K	12/22	0.72 mi	107, Saturn Road, Ipswich, Suffolk IP1 5PS	£1,918	76	2	Flat
£127K	09/21	0.72 mi	4, Compair Crescent, Ipswich, Suffolk IP2 0EH	-	-	2	Flat
£135K	02/23	0.72 mi	58, Compair Crescent, Ipswich, Suffolk IP2 0EH	-	-	2	Flat
£140K	03/23	0.72 mi	68, Compair Crescent, Ipswich, Suffolk IP2 0EH	£1,944	72	2	Flat
£130K	01/23	0.72 mi	101, Saturn Road, Ipswich, Suffolk IP1 5PS	£2,000	65	2	Flat
£145K	01/23	0.72 mi	133, Saturn Road, Ipswich, Suffolk IP1 5PS	£2,589	56	2	Flat
£137K	12/21	0.73 mi	70, Compair Crescent, Ipswich, Suffolk IP2 0EH	£2,175	63	2	Flat
£120K	08/21	0.83 mi	5, Spinner Close, Ipswich, Suffolk IP1 5RA	£1,644	73	2	Flat
£190.5K	09/21	0.99 mi	Flat 3, Burlingham House, Ancaster Road, Ipswich, Suffolk IP2 9AJ	-	-	2	Flat

Local Rents

35 rents from £695/mo to £1.9K/mo, average is £925/mo.

Rent	Date	Distance	Address	Beds	Type
£750	08/24	0.07 mi	Dunlop Road, Ipswich	2	Flat
£949	01/25	0.19 mi	-	2	Terraced House
£895	04/24	0.4 mi	Yeoman Close, Ipswich, IP1	2	Flat
£875	05/24	0.4 mi	Yeoman Close, Ipswich, IP1	2	Flat
£925	05/24	0.45 mi	Beaconsfield Road, IPSWICH	2	Terraced House
£995	04/24	0.49 mi	Beaconsfield Road, IPSWICH	2	House
£950	01/24	0.51 mi	London Road, Ipswich	2	Flat
£900	01/24	0.51 mi	London Road, Ipswich	2	Flat
£900	01/24	0.51 mi	London Road, Ipswich	2	Flat
£775	04/24	0.51 mi	London Road, Ipswich, IP1	2	Flat
£1,100	11/24	0.52 mi	-	2	Terraced House
£1,100	11/24	0.52 mi	-	2	Terraced House
£875	06/24	0.53 mi	Cullingham Road, Ipswich, IP1	2	Terraced House
£800	06/24	0.53 mi	London Road, Ipswich	2	Flat
£900	02/24	0.53 mi	Bramford Road, Ipswich	2	Terraced House
£1,200	09/23	0.54 mi	-	2	Semi-Detached House
£1,840	04/24	0.55 mi	-	2	Flat
£1,840	06/24	0.55 mi	-	2	Flat
£1,840	12/24	0.55 mi	-	2	Flat
£1,500	04/25	0.55 mi	-	2	Flat
£1,850	04/24	0.55 mi	-	2	Flat
£1,400	05/24	0.55 mi	-	2	Flat
£1,550	09/24	0.55 mi	-	2	Flat
£1,400	11/24	0.55 mi	-	2	Flat
£1,550	01/25	0.55 mi	-	2	Flat
£1,400	03/25	0.55 mi	-	2	Flat
£795	04/24	0.56 mi	Sproughton Road, East Ipswich, Ipswich, IP1	2	Flat
£900	05/24	0.57 mi	Ipswich, Suffolk	2	House
£850	02/25	0.58 mi	-	2	Flat
£695	12/23	0.58 mi	-	2	Terraced House
£860	03/24	0.59 mi	-	2	Terraced House
£900	07/24	0.6 mi	Broomwade Close, Ipswich	2	Flat
£800	04/24	0.62 mi	Chevallier Street, Ipswich, Suffolk, IP1	2	Terraced House
£900	12/24	0.62 mi	-	2	Flat
£950	03/24	0.62 mi	-	2	Flat

Local Area Statistics

Population in IP2	30,99730,997
Population in Ipswich	219,393219,393
Town centre distance	1.76 miles away1.76 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.93 miles away0.93 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-1%-1%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+28%+28%

Property History

Price changed to £50,000

December 26, 2024

Listed for £55,000

October 1, 2024

Floor Plans

Description

Being Sold via Secure Sale online bidding. Terms and Conditions apply. +
Tenant in situ £630 +
Investment opportunity +
Two bedrooms +
Modern Shower Room +
Lift access +

Pattinson Auction are pleased to bring to the market the second floor apartment situated to the West side of Ipswich.

The property is being sold by Modern day auction methods with the current tenants paying £660.

The property benefits from having an entrance hall, open plan lounge/kitchen, two bedrooms and shower room.

The building has a lift, allocated parking and a residents gym (non contributory).

Council Tax Band: A
Tenure: Leasehold
Length Of Lease: 117
Annual Ground Rent Amount: £350.00
Annual Service Charge Amount: £2,424.00

Agent Details

Pattinson Estate Agents, Auction

0191 625 0242

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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