2 Bed Flat, Cash/Bridging Only, Taunton, TA1 1WW, £249,950

5 Thomas More Court, Priory Avenue, TA1 1WW - 2 views - 3 months ago

Leasehold
Cash
ROI: 5%
~68 m²
+15 photos

ValuationOvervalued

Sold Prices£60K - £295K
Sold Prices/m²£1.1K/m² - £3.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.7K/m²

Value Estimate

£169,061

 

 

End Value (After Refurb)

£210,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,488

Stamp Duty & Legal Fees

£8,699

Refurb Costs

£27,698

Bridging Loan Interest

£6,561

Total Cash In

£107,196

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£210,500

Mortgage (After Refinance)

£157,875

Mortgage LTV

75%

Cash Left In

£107,196

Equity

£52,625

Rent Range

£850 - £2,700

Rent Estimate

£1,394

Running Costs/mo

£957

Cashflow/mo

£437

Cashflow/yr

£5,249

ROI

5%

Gross Yield

7%

Local Sold Prices

51 sold prices from £60K to £295K, average is £143K. £1.1K/m² to £3.2K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£148K03/210.09 mi42b, Laburnum Street, Taunton, Somerset TA1 1LB2
£165K01/230.1 mi2, The Octagon, Taunton, Somerset TA1 1RT2
£150K09/230.11 mi9, The Octagon, Taunton, Somerset TA1 1RT2
£138K03/230.17 mi5, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£112.5K11/200.18 mi10, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£138K09/230.18 miFlat 42, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£122.5K09/230.18 miFlat 27, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£130K10/210.18 mi39, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£150K04/230.18 mi38, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£160K12/230.18 mi44, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£160K12/230.18 mi44, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£115K01/210.19 mi37, Winters Field, Taunton, Somerset TA1 1PY2
£122.5K08/210.19 miFlat 2, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£211K11/230.22 mi52, Geoffrey Farrant Walk, Taunton, Somerset TA1 1PU2
£172K07/210.31 mi4, Firepool View, Taunton, Somerset TA1 1PS2
£159K11/200.31 mi36, Firepool View, Taunton, Somerset TA1 1PS2
£179K02/210.31 mi28, Firepool View, Taunton, Somerset TA1 1PS2
£187K01/230.32 mi16, Firepool View, Taunton, Somerset TA1 1PS2
£185K12/230.33 mi29, Firepool View, Taunton, Somerset TA1 1NY2
£147.5K01/210.35 mi2, Cunningham Court, Taunton, Somerset TA1 1AR2
£175K09/230.35 mi36, Cunningham Court, Taunton, Somerset TA1 1AR2
£165K01/230.35 mi35, Cunningham Court, Taunton, Somerset TA1 1AR2
£143K10/230.36 miFlat 8, Trinity Gate, Queen Street, Taunton, Somerset TA1 3DS2
£172.5K08/230.36 mi50, Firepool Crescent, Taunton, Somerset TA1 1AT2
£140K10/200.42 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£155K03/230.42 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£295K11/210.45 miFlat 7, Annecy Court, St Josephs Field, Taunton, Somerset TA1 3TE2
£124.6K06/210.45 mi17, Northfield Gardens, Taunton, Somerset TA1 1XN2
£122K11/210.46 miFlat 28, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£90K10/230.46 miFlat 7, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£100K10/230.46 miFlat 44, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£95K11/230.46 miFlat 43, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£250K02/210.47 miFlat 5, Annecy Court, St Josephs Field, Taunton, Somerset TA1 3TE2
£202.5K03/240.47 miAnnecy Court, Flat 9, St Josephs Field, Taunton, Somerset TA1 3TE2
£60K11/200.47 mi2, Northfield Gardens, Taunton, Somerset TA1 1XN2
£155K02/210.48 mi33, Trinity Road, Taunton, Somerset TA1 3JJ2
£125K12/200.49 mi23, Northfield Gardens, Taunton, Somerset TA1 1XN2
£120K07/210.49 miFlat 6, Vivary Gate, Upper High Street, Taunton, Somerset TA1 3PX2
£160K05/230.49 miFlat 12, Vivary Gate, Upper High Street, Taunton, Somerset TA1 3PX2
£175K06/230.53 miFlat 7, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£176K05/230.53 miFlat 28, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£120K10/200.54 miGround Floor Flat, 43, William Street, Taunton, Somerset TA2 6HG2
£136K09/230.54 miGround Floor Flat, 43, William Street, Taunton, Somerset TA2 6HG2
£100K01/230.55 miFlat 1, Portland Grange, Upper High Street, Taunton, Somerset TA1 3PZ2
£105K08/230.56 miFlat 8, Portland Grange, Upper High Street, Taunton, Somerset TA1 3PZ2
£90K12/230.56 miFlat 13, Portland Grange, Upper High Street, Taunton, Somerset TA1 3PZ2
£128.5K06/210.57 mi3, Rupert Street, Taunton, Somerset TA2 6JT2
£138K04/210.57 mi1, Rupert Street, Taunton, Somerset TA2 6JT2
£138K04/210.57 mi1, Rupert Street, Taunton, Somerset TA2 6JT2
£215.9K01/230.57 miFlat 10, Elm Park, Elm Grove, Taunton, Somerset TA1 1EH2
£137K10/210.58 mi27, Wellesley Street, Taunton, Somerset TA2 7DS2

Local Rents

37 rents from £850/mo to £2.7K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£99509/240.02 miPriory Avenue, Taunton2
£1,50009/240.04 mi-2
£1,70003/250.04 mi-2
£85011/240.05 mi-2
£95009/240.06 miTaunton2
£85009/240.06 miMiddle Street, Taunton, TA12
£92509/240.11 miThe Octagon, Taunton, Somerset, TA12
£1,55009/240.16 miCoal Orchard, TAUNTON2
£1,60009/240.18 miCoal Orchard, TAUNTON2
£1,10003/250.2 mi-2
£1,20009/240.22 mi-2
£1,20012/240.22 mi-2
£1,20009/240.23 miGloucester Street, TAUNTON2
£95009/240.25 miEast Reach, Taunton2
£1,00012/240.27 mi-2
£1,20009/240.29 mi-2
£1,10009/240.31 miFirepool View, TAUNTON2
£1,10009/240.39 mi-2
£1,10009/240.41 mi-2
£95003/250.42 mi-2
£2,70009/240.44 mi-2
£2,70011/240.44 mi-2
£2,70002/250.44 mi-2
£2,70003/250.44 mi-2
£89509/240.45 miUpper Wood Street, Taunton, TA12
£2,70009/240.46 mi-2
£2,70012/240.46 mi-2
£2,70002/250.46 mi-2
£2,70003/250.46 mi-2
£89509/240.48 mi-2
£1,10009/240.57 miRupert Street, Taunton TA12
£1,05009/240.57 mi-2
£1,00002/250.57 mi-2
£1,20009/240.57 mi-2
£90009/240.59 miDovetail Court,park Street,taunton2
£1,20009/240.61 miWestgate Street, Taunton, 2
£90009/240.61 miMassingham Park, Taunton2

Local Area Statistics

Population in TA1

39,265

Population in Taunton

85,088

Town centre distance

0.25 miles away

Nearest school

0.20 miles away

Nearest train station

0.38 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £249,950

January 21, 2025

Floor Plans

Description

  • Two Bedrooms +
  • Second Floor Apartment +
  • uPVC Double Glazed +
  • Mains Gas Fired Central Heating +
  • Secure & Gated Development +
  • Off-Road Parking Space +
  • Town Centre Location +
  • No Onward Chain +

The accommodation comprises in brief; communal front door leading into entrance hall with stairs rising to the first and second floor plus a lift up to all floors. The front door of the apartment leads into an entrance hallway with hatch to loft space, three storage cupboards and doors leading into all principle rooms. The living room is a good size and has a double glazed Juliet balcony overlooking the rear. The kitchen is found off the living room and has a selection or matching wall and base storage units, roll edge work surfaces, 1 & ½ bowl stainless steel sink with hot and cold mixer tap, integrated fridge/freezer, integrated washer/drier, integrated dishwasher, integrated electric double oven and an integrated four ring gas hob with extractor fan above. The two double bedrooms both have windows overlooking the front and integrated wardrobes. The main bedroom has an en-suite shower room with low level wc, wash hand basin and shower cubicle. The accommodation is completed with a family bathroom comprising low level wc, wash hand basin and panelled bath. Externally, there is one allocated off-road parking space. Additionally, there are two visitor parking spaces.

GENERAL REMARKS AND STIPULATIONS:
Tenure: The property is offered for sale leasehold by private treaty with vacant possession on completion.
Lease Information: Lease Length: 125 years from 2006. Service Charge: £1,720.51 p/a. Ground Rent: £125 p/a.
Services: Mains water with meter, mains electricity, mains drainage, gas fired central heating.
Local Authority: Somerset Council, County Hall, The Crescent, Taunton, Somerset, TA1 4DY
Property Location: w3w.co/fork.goes.foam
Council Tax Band: C
EPC: C
Broadband Availability: Fast with up to 76 Mbps download speed and 15 Mbps upload speed.
Mobile Phone Coverage: Indoor-voice & data likely available with EE and Three; Outdoor-voice & data likely with EE, Three, O2 & Vodafone.
Flood Risk: Rivers & Sea-very low. Surface water-low.

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 January 2025. MEASUREMENTS AND OTHER INFORMATION All measurements are approximate and have been taken by Nichecom. 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

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