2 Bed Flat, Single Let, Colchester, CO2 8FP, £150,000

Caelum Drive, Colchester, Essex, CO2 8FP - a year ago

Leasehold
BTL
ROI: 11%
~61 m²
+7 photos

ValuationUndervalued

Sold Prices£120K - £268K
Sold Prices/m²£1.8K/m² - £3.5K/m²

 

 

Square Metres

~60.76 m²
Price/m²£2.5K/m²

Value Estimate

£160,511
BMV7%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£37,500

Stamp Duty & Legal Fees

£9,200

Total Cash In

£46,700

 

 

Cash Out

 

Rent Range

£950 - £1,450

Rent Estimate

£1,150

Running Costs/mo

£719

Cashflow/mo

£431

Cashflow/yr

£5,175

ROI

11%

Gross Yield

9%

Local Sold Prices

50 sold prices from £120K to £268K, average is £161.5K. £1.8K/m² to £3.5K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£185K12/220.03 mi6, Caelum Drive, Colchester, Essex CO2 8FP2
£176.5K06/230.03 mi3, Caelum Drive, Colchester, Essex CO2 8FN2
£180K02/210.05 mi37 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£205K05/230.05 mi65 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£147K03/210.05 mi71 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£157.5K11/200.12 mi3, Meachen Road, Colchester, Essex CO2 8JD2
£130K04/230.12 mi45, Meachen Road, Colchester, Essex CO2 8JD2
£173K12/200.15 mi9, Meachen Road, Colchester, Essex CO2 8JD2
£170K06/230.16 mi343, Quayside Drive, Colchester, Essex CO2 8GT2
£182K01/230.27 mi114, Albany Gardens, Colchester, Essex CO2 8HU2
£162K06/230.28 miFlat 9, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K01/210.28 miFlat 15, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K03/210.28 miFlat 8, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£202.5K01/210.3 mi9, Waterside Lane, Colchester, Essex CO2 8HW2
£178K03/230.3 mi13, Waterside Lane, Colchester, Essex CO2 8HW2
£177K07/230.31 mi161, Albany Gardens, Colchester, Essex CO2 8HQ2
£120K01/210.36 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£165K06/230.36 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£182K07/230.41 mi4, Tarrett Drive, Colchester, Essex CO1 2NJ2
£140K03/210.42 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£140K03/210.42 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£165K05/210.42 mi156, Hythe Hill, Colchester, Essex CO1 2NG2
£268K10/210.44 mi25, Hythe Hill, Colchester, Essex CO1 2NB2
£194K10/200.64 mi7, Sadler Close, Colchester, Essex CO2 7LU2
£175K06/210.64 mi13, Sadler Close, Colchester, Essex CO2 7LU2
£170K07/210.64 mi2, Sadler Close, Colchester, Essex CO2 7LU2
£162K05/210.67 mi12, Saw Mill Road, Colchester, Essex CO1 2ZQ2
£165K05/230.68 mi20, Dewberry Close, Colchester, Essex CO4 3RT2
£148K06/230.7 mi7, Alyssum Walk, Colchester, Essex CO4 3RW2
£165K06/210.72 miFlat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG2
£142K11/200.75 mi16, Dorchester End, Colchester, Essex CO2 8AR2
£130K12/200.75 mi28, Dorchester End, Colchester, Essex CO2 8AR2
£242K06/210.77 mi132, Magnolia Drive, Colchester, Essex CO4 3LX2
£155K02/210.78 mi30, Steed Crescent, Colchester, Essex CO2 7SJ2
£150K01/210.79 mi141, George Williams Way, Colchester, Essex CO1 2JR2
£176K07/230.79 mi139, George Williams Way, Colchester, Essex CO1 2JR2
£171K12/220.79 mi191, George Williams Way, Colchester, Essex CO1 2JR2
£140K08/230.79 mi12, Flanders Field, Colchester, Essex CO2 8BX2
£125K06/230.79 mi36, Flanders Field, Colchester, Essex CO2 8BX2
£150K02/230.8 mi18, Siena Mews, Colchester, Essex CO2 8YB2
£161K08/210.8 mi78, George Williams Way, Colchester, Essex CO1 2JZ2
£146.5K01/210.8 mi42, George Williams Way, Colchester, Essex CO1 2JZ2
£150K06/210.8 mi24, George Williams Way, Colchester, Essex CO1 2JZ2
£158.5K01/210.8 mi6, Siena Mews, Colchester, Essex CO2 8YB2
£150K03/210.8 mi45, Viceroy Close, Colchester, Essex CO2 8BQ2
£150.5K12/220.8 mi43, Viceroy Close, Colchester, Essex CO2 8BQ2
£163.5K10/200.8 mi9, Cooper Walk, Colchester, Essex CO4 3RU2
£146K01/210.81 miFlat 11, Dedham Court, Stalin Road, Colchester, Essex CO2 8SN2
£160K10/210.82 mi54a, Barrington Road, Colchester, Essex CO2 7RW2
£143K12/200.83 mi106, St Andrews Gardens, Colchester, Essex CO4 3EH2

Local Rents

50 rents from £950/mo to £1.4K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,19512/240.01 miCaelum Drive, Hythe, Colchester2
£1,20001/250.02 mi-2
£1,20012/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,17512/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,12512/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,30012/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.03 miCaelum Drive, Colchester2
£1,20012/240.03 miCaelum Drive, Colchester2
£1,20012/240.03 miCaelum Drive, Colchester2
£1,12512/240.03 miCaelum Drive, Colchester, Essex, CO22
£1,39512/240.04 miKeel Point, Ship Wharf, Hythe2
£1,20012/240.04 miShip Wharf, Colchester, Essex, CO22
£1,25012/240.04 miCaelum, Colchester, Essex, CO22
£1,20012/240.04 miShip Wharf, Colchester, Essex, CO22
£1,25012/240.04 miKeel Point, Colchester2
£1,25012/240.04 miKeel Point, Hawkins Road2
£1,30012/240.04 miKeel Point, Hawkins Road2
£1,25012/240.04 miKeel Point, Ship Wharf2
£1,25012/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,17512/240.05 mi-2
£1,15012/240.05 miShip Wharf, Colchester, Essex, CO22
£1,30012/240.05 miSail House , Colchester2
£1,25012/240.05 miSail House, Colchester2
£1,25012/240.05 miSail House, Colchester2
£1,45012/240.05 miSail House, Ship Wharf2
£1,30012/240.05 miShip Wharf, Hawkins Road, Hythe2
£1,17512/240.05 miShip Wharf, Colchester, Essex, CO22
£1,20012/240.05 miSail House, Ship Wharf2
£1,25012/240.07 miHawkins Road, Colchester, Essex, CO22
£1,12512/240.07 miHawkins Road, Colchester, Essex, CO22
£1,25012/240.07 miHawkins Road, Colchester, Essex, CO22
£1,25012/240.07 miHeia Wharf, Hawkins Road2
£1,20012/240.07 miMaponite Buildings, Hawkins Road, Colchester, Essex, CO22
£1,25012/240.09 miHeia Wharf, Hawkins Road , Colchester2
£1,20012/240.09 miHeia Wharf, Hawkins Road, Hythe2
£1,20012/240.1 miSpiritus House, Hawkins Road, Colchester2
£1,25012/240.1 miHardies Point, Hawkins Road, Colchester2
£95001/250.1 mi-2
£1,30012/240.1 mi-2
£1,25012/240.1 mi-2
£1,15012/240.1 miHardies Point2
£1,20012/240.1 miHardie's Point, Colchester, Essex, CO22
£1,15012/240.1 miMaria Court, Hesper Road, Colchester, Essex, CO22
£99512/240.1 miHesper Road, Maria Court2
£1,20012/240.1 miHesper Road, Hythe2
£1,05012/240.12 miMeachen Road, Colchester, Essex2
£1,20012/240.13 miQuayside Drive, Colchester2

Local Area Statistics

Population in CO2

33,440

Population in Colchester

214,734

Town centre distance

1.81 miles away

Nearest school

0.40 miles away

Nearest train station

0.27 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+63%

Sales demand

Balanced market

Capital growth (5yrs)

+27%

Property History

Price changed to £150,000

March 16, 2025

Price changed to £160,000

February 20, 2025

Price changed to £170,000

January 3, 2025

Listed for £180,000

January 11, 2024

Floor Plans

Description

  • Investment Opportunity +
  • Tenants paying £1150pcm +
  • Two bedrooms +
  • Two bathroom +
  • Open plan living space with balcony +
  • Allocated parking +
  • Electric heating +

*GUIDE PRICE £150,000-£170,000*

This top floor apartment is located in the popular area of Hythe being close to the city centre and the University of Essex. The property is being sold with tenants in situ who are currently paying £1150pcm or vacant possession.

The property benefits from entrance hallway leading to all rooms and a storage cupboard housing the immersion heater. The main bedroom is on the right hand side which has built-in wardrobes and en-suite shower room. There is a further double bedroom and family bathroom. The open plan living space benefits from lounge area with double doors opening onto the balcony and open plan to the kitchen area. The kitchen has a range of wooden effect wall and base units with work surfaces over, integral fridge and freezer, built-in electric oven and inset stainless steel sink.

The property has electric heating and an allocated parking space.

Agent Details

Leaders Sales, Colchester

01206 586093

Next Steps?

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