43 Blanche Street, Ipswich, Suffolk IP4 2EJ

Description

An end terraced house requiring improvement. Situated in the popular IP4 area close to the town centre, this end-terraced house is in need of improvement. The property offers two bedroom accommodation with a first floor bathroom and already benefits from gas central heating and double glazing and also has a small courtyard garden to the rear. Offering great potential as a DIY opportunity and entry into the lettings market.

Accommodation

Two bedroom accommodation with a first floor bathroom.

Location

Situated in the popular IP4 area close to the town centre.

Tenure / Property Information

Investment Analysis

The available sold comparables are historic: £82,995 in 2006, £61,000 in 2004 and £34,323 in 1996. They do not provide reliable evidence of a current market value or GDV. The property is described as requiring improvement, but the extent and cost of works are not supplied. The £940 pcm figure is one advertised asking rent for a nearby two-bedroom property, not an achieved rent or passing rent.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain a full inspection, refurbishment quotations, current comparable evidence, rent validation and legal-pack review before considering a BTL or resale strategy.

Works Required

General improvement is indicated by the description, but no specific defects or scope are evidenced. Confirm condition, required works and costs through inspection and the legal pack. Existing gas central heating, double glazing and EPC rating E are noted.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost and post-works value evidence are unavailable. The known buyer premium and admin charge total £2,400, with possible additional legal-pack costs. Refinance proceeds cannot be calculated without a supported GDV.

Buy-to-Let Analysis

Using the £940 pcm advertised asking rent as an unverified proxy gives annual rent of £11,280 and an indicative gross yield of approximately 13.27% at the £85,000 lower guide or 11.87% at the £95,000 upper guide. This excludes refurbishment, buyer premium, admin charge, other possible disbursements, finance, voids and operating costs. Achieved rent and net yield cannot be established from the evidence.

Flip Analysis

A flip surplus cannot be calculated because there is no current GDV, quantified works budget or supported selling-cost allowance. The historic same-street sales are insufficient for a current resale valuation.

Investor Risks & Due Diligence

• Historic sold comparables do not establish current market value or GDV.

• The property is described as requiring improvement, but the defects and refurbishment cost are unknown.

• The £940 pcm figure is an advertised asking rent rather than achieved or passing rent.

• The £2,400 buyer premium and admin charge are payable, with possible additional disbursements, search fees, seller costs, legal fees or transfer fees.

• EPC rating is E and the legal pack has not been supplied.

• The auction guide is not a valuation and the eventual purchase price may exceed the guide range.

Recommendation

Do not bid on the current evidence alone. Obtain a full inspection, refurbishment quotations, current comparable evidence, rent validation and legal-pack review before considering a BTL or resale strategy.

Strategy Rating

Analysis Confidence

Current valuation, refurbishment scope and cost, achieved rent, occupancy status and potential legal-pack disbursements are not evidenced; the sales comparables are historic.