2 Bed Flat, Single Let, Norwich, NR1 3SG, £165,000

St. Stephens Road, Norwich, NR1 3SG - 3 views - 2 years ago

Leasehold
BTL
ROI: 6%
~68 m²
+9 photos

ValuationUndervalued

Sold Prices£46.3K - £435K
Sold Prices/m²£756/m² - £4.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.4K/m²

Value Estimate

£168,698
BMV2%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£41,250

Stamp Duty & Legal Fees

£6,150

Total Cash In

£47,400

 

 

Cash Out

 

Rent Range

£695 - £1,400

Rent Estimate

£975

Running Costs/mo

£731

Cashflow/mo

£244

Cashflow/yr

£2,933

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £46.3K to £435K, average is £166.5K. £756/m² to £4.3K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£190K03/230.09 mi29, Wessex Street, Norwich, Norfolk NR2 2TJ2
£92.5K12/220.09 mi17, Wessex Street, Norwich, Norfolk NR2 2TJ2
£200K01/230.09 mi7, Wessex Street, Norwich, Norfolk NR2 2TJ2
£46.3K03/210.09 mi39, Wessex Street, Norwich, Norfolk NR2 2TJ2
£177K07/230.1 mi27, Kenneth Mckee Plain, Norwich, Norfolk NR2 2TH2
£170K11/220.13 mi18, Wessex Street, Norwich, Norfolk NR2 2SP2
£165K10/230.14 miFlat 11, Marlborough House, Grove Road, Norwich, Norfolk NR1 3RQ2
£150K03/210.15 miThe Second Floor Flat, 4, Grove Avenue, Norwich, Norfolk NR1 2QD2
£155K11/200.19 mi24, Norfolk Street, Norwich, Norfolk NR2 2SN2
£160K12/230.22 mi15, Eagle Walk, Norwich, Norfolk NR2 2JA2
£310K06/210.26 mi47, Chapel Field East, Norwich, Norfolk NR2 1SF2
£203K09/210.32 mi156, Brazen Gate, Norwich, Norfolk NR1 3SB2
£125K03/210.32 mi151, Somerleyton Gardens, Norwich, Norfolk NR2 2BS2
£125K01/240.34 mi111, Somerleyton Gardens, Norwich, Norfolk NR2 2BP2
£128K09/230.35 mi24, Johnson Place, Norwich, Norfolk NR2 2SA2
£199.9K12/200.35 mi8, Woburn Street, Norwich, Norfolk NR2 2RQ2
£180K05/230.37 mi7, Lady Mary Road, Norwich, Norfolk NR1 2QZ2
£140K10/230.41 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£200K04/240.41 mi45, St Albans Road, Norwich, Norfolk NR1 2QX2
£150K10/210.42 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£138K01/240.42 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£160K01/240.44 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£162K04/230.45 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£140K07/210.46 mi16, Gordon Square, Norwich, Norfolk NR1 3HJ2
£132.5K07/230.46 mi9, Gordon Square, Norwich, Norfolk NR1 3HJ2
£138K09/210.46 mi23, Gordon Square, Norwich, Norfolk NR1 3HJ2
£147.5K05/210.48 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£150K07/230.49 mi17, Watlings Court, Norwich, Norfolk NR2 1HA2
£180K07/230.49 mi16, Watlings Court, Norwich, Norfolk NR2 1HA2
£200K10/230.49 miFlat 18, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£205K11/230.49 miFlat 35, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£215K03/230.49 miFlat 3, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£177K04/210.5 mi25, Patricia Road, Norwich, Norfolk NR1 2PE2
£174K11/200.5 mi19, Patricia Road, Norwich, Norfolk NR1 2PE2
£177.5K08/230.5 mi12, Patricia Road, Norwich, Norfolk NR1 2PE2
£162K01/230.51 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£207K01/210.52 mi91, Wellington Lane, Norwich, Norfolk NR2 1HJ2
£143K04/210.52 mi39, Patricia Road, Norwich, Norfolk NR1 2PE2
£168K05/230.53 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£181K03/210.54 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£181K03/210.54 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£435K01/210.56 mi199a, Unthank Road, Norwich, Norfolk NR2 2PQ2
£158K08/230.56 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.56 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£180K01/210.57 mi4, Three King Lane, Norwich, Norfolk NR2 1TX2
£156.5K08/230.57 mi76, Paragon Place, Norwich, Norfolk NR2 4BP2
£185K08/230.57 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£152K09/210.57 mi56, Heigham Grove, Norwich, Norfolk NR2 3DH2
£212.5K05/230.57 mi28, Christopher Close, Norwich, Norfolk NR1 2PQ2
£210K10/230.57 mi25, Christopher Close, Norwich, Norfolk NR1 2PQ2

Local Rents

50 rents from £695/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,20003/240 miThe Pavillion, St Stephens Road, Norwich2
£95006/240.01 miThe Pavilion, St Stephens Road, Norwich, NR12
£1,15006/240.01 miSt Stephens Road, NORWICH2
£92506/240.01 miThe Pavilion, St. Stephens Road, Norwich, Norfolk, NR12
£1,25006/240.02 miThe Pavillion, NR12
£1,40010/240.04 mi-2
£1,35008/240.04 miThomas Wyatt Close, Norwich2
£1,30006/240.05 mi-2
£1,35008/240.05 miThomas Wyatt Close, NORWICH2
£97507/240.08 miEdward Jodrell Plain, Norwich2
£95006/240.08 miBrunswick Road, Norwich2
£1,19511/240.09 mi-2
£85003/240.1 miWood Street, Norwich, Norfolk, NR12
£97506/240.12 miKingsley Road, Norwich2
£99501/250.13 mi-2
£1,20006/240.14 miNeedham Place, Norwich2
£1,25012/240.15 miGrove Avenue, Norwich2
£1,25012/240.15 miGrove Avenue, Norwich, Norfolk, NR12
£1,10008/240.15 miNewmarket Street, Norwich, Norfolk, NR22
£1,25006/240.15 miNewmarket Street, Norwich, NR22
£1,15012/240.16 miNeedham Place, Norwich2
£97506/240.16 miNorwich2
£97512/240.17 miRegina Road, NR1 3QZ2
£1,15006/240.17 miSouth City2
£1,20010/240.17 mi-2
£1,10007/240.18 miTrinity Street, Norwich, NR2 2BH2
£1,00006/240.18 miTrinity Street, Norwich, Norfolk, NR22
£1,29501/250.19 mi-2
£1,17512/240.21 miChapelfield Gardens, Norwich, 2
£1,35001/250.21 mi-2
£95007/240.24 miNewmarket Street, Norwich, NR22
£1,20008/240.24 miLeicester Street, Norwich, NR22
£1,20009/240.25 miAllens Lane, Norwich, Norfolk, NR22
£1,20006/240.25 miLeicester Street, Norwich, NR22
£1,10012/240.26 miChapelfield Gardens, Norwich2
£1,30001/250.26 mi-2
£1,09006/240.31 mi-2
£1,20006/240.31 miAlbert Terrace, Norwich, NR22
£1,20006/240.31 miAlbert Terrace, Norwich, NR22
£1,20002/240.31 mi-2
£1,20012/240.31 mi-2
£1,10006/240.31 miHill Street, Norwich2
£1,10006/240.32 miNewmarket Street, Norwich2
£1,05003/240.32 miBrazen Gate, Norwich, Norfolk, NR12
£69506/240.32 miCambridge Court, Cambridge Street, Norwich, NR22
£97507/240.32 miSomerleyton Gardens, Norwich, NR22
£1,15008/240.33 mi-2
£1,15009/240.33 mi-2
£1,15008/240.33 miVauxhall Street, Norwich, NR22
£1,10006/240.33 miSurrey Street, NORWICH2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.23 miles away

Nearest school

0.10 miles away

Nearest train station

0.89 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £165,000

June 9, 2023

Floor Plans

Description

  • NO ONWARD CHAIN! +
  • Allocated parking space +
  • Two double bedrooms +
  • Well-presented throughout +
  • Walking distance to city centre & train station +
  • Open plan lounge/ kitchen/ diner +

SUMMARY
NO ONWARD CHAIN!!!!* INVESTORS ONLY!!! A fantastic opportunity to purchase this TWO BEDROOM FIRST FLOOR APARTMENT in Norwich, offering an open plan lounge/ kitchen/ diner, communal garden and ALLOCATED PARKING! Viewings are highly advised - call us today for more information!!!!!!

DESCRIPTION
This two bedroom first floor apartment is situated in the popular NR1 postcode, just to the south of Norwich city centre. The property would make a fantastic first time buy or investment purchase, and benefits from two double bedrooms, secure allocated parking, communal gardens, and is within easy walking distance of Norwich city centre & train station. The property is also being sold with no onward chain! Accommodation comprises of a secure phone entry system, stairs or lift to the first floor, an entrance hall, open plan lounge/ kitchen/ diner, two double bedrooms and a bathroom. Outside there is a secure allocated parking space. Viewings are highly recommended to not miss out on this fantastic apartment!

Communal Entrance 
Secure phone entry system, stairs or lift to the first floor.

Entrance Hall 
Door to the front, airing cupboard, radiator, laminate flooring.

Lounge/ Kitchen/ Diner 23' 7" x 9' 2" ( 7.19m x 2.79m )
Open plan. Double glazed juliet balcony, laminate flooring. Double glazed window to the front. Fitted kitchen with wall & base units, work surfaces, door to hallway, stainless steel sink/ drainer, 1 bowl, electric hob & oven, extractor fan, integrated washing machine & fridge/ freezer, radiator.

Bedroom 1 12' 1" plus recess x 8' 4" ( 3.68m plus recess x 2.54m )
Double glazed window to the side, built-in wardrobe, laminate flooring.

Bedroom 2 13' 8" x 7' 7" ( 4.17m x 2.31m )
Double glazed window to the side, radiator, laminate flooring.

Bathroom 
Bath with mixer taps & shower over, WC, wash hand basin, extractor fan, vinyl flooring.

Exterior 
Outside there is a communal garden and a secure allocated parking space.

Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

William H. Brown, Norwich

01603 361933

Next Steps?

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