2 Bed Flat, Single Let, Norwich, NR1 1RG, £130,000

Polypin Yard, Norwich, NR1 1RG - 1 views - a year ago

Leasehold
BTL
ROI: 11%
~68 m²
+10 photos

ValuationUndervalued

Sold Prices£46.3K - £325K
Sold Prices/m²£756/m² - £4.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.9K/m²

Value Estimate

£158,600
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£32,500

Stamp Duty & Legal Fees

£5,100

Total Cash In

£37,600

 

 

Cash Out

 

Rent Range

£925 - £2,500

Rent Estimate

£950

Running Costs/mo

£616

Cashflow/mo

£334

Cashflow/yr

£4,005

ROI

11%

Gross Yield

9%

Local Sold Prices

50 sold prices from £46.3K to £325K, average is £170.3K. £756/m² to £4.2K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£185K08/230.04 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£218K11/200.05 mi5, Maltsters Yard, Norwich, Norfolk NR1 1RQ2
£260K11/210.11 mi17, St Martin At Bale Court, Norwich, Norfolk NR1 3DZ2
£168K05/230.19 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£180K10/210.19 mi4, Maidstone Road, Norwich, Norfolk NR1 1EA2
£172.5K11/230.19 mi49, Maidstone Road, Norwich, Norfolk NR1 1EA2
£150K10/210.21 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£158K08/230.25 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.25 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£150K12/230.28 mi27, Wherry Road, Norwich, Norfolk NR1 1WS2
£140K01/210.28 mi13, Wherry Road, Norwich, Norfolk NR1 1WS2
£173.5K03/230.28 mi2, Wherry Road, Norwich, Norfolk NR1 1WS2
£270K10/200.32 miApartment 101, Cannon Wharf, King Street, Norwich, Norfolk NR1 2FG2
£325K01/230.32 miFlat 34, Bridgemaster Court, Wherry Road, Norwich, Norfolk NR1 1XG2
£122K10/210.42 mi105, Rosary Road, Norwich, Norfolk NR1 4BX2
£140K07/210.43 mi16, Gordon Square, Norwich, Norfolk NR1 3HJ2
£132.5K07/230.43 mi9, Gordon Square, Norwich, Norfolk NR1 3HJ2
£138K09/210.43 mi23, Gordon Square, Norwich, Norfolk NR1 3HJ2
£310K06/210.44 mi47, Chapel Field East, Norwich, Norfolk NR2 1SF2
£236.5K01/230.45 mi10, Roaches Court, Norwich, Norfolk NR3 1HJ2
£200K10/230.45 mi23a, Wensum Street, Norwich, Norfolk NR3 1LA2
£160K05/230.46 mi15, Abbey Court, Norwich, Norfolk NR1 2AW2
£140K10/230.47 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£195K09/230.47 miFlat 44, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£182K09/210.47 miFlat 33, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£190K05/210.49 mi108, Bertram Way, Norwich, Norfolk NR1 1FD2
£115K03/210.49 mi4, Hill House Road, Norwich, Norfolk NR1 4BW2
£160K01/240.5 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£203K09/210.53 mi156, Brazen Gate, Norwich, Norfolk NR1 3SB2
£162K04/230.54 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£140K12/200.55 mi25, Fishergate, Norwich, Norfolk NR3 1SE2
£168K03/210.55 miFlat 1, Squires Haven, Clarence Road, Norwich, Norfolk NR1 1HQ2
£190K07/210.55 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£138K01/240.55 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£181K03/210.55 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£181K03/210.55 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£203K02/230.56 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£165K09/230.58 miFlat 1, Maude Gray Court, St Benedicts Street, Norwich, Norfolk NR2 4PA2
£180K12/220.58 mi26, Blackfriars Street, Norwich, Norfolk NR3 1SF2
£190K03/230.59 mi29, Wessex Street, Norwich, Norfolk NR2 2TJ2
£92.5K12/220.59 mi17, Wessex Street, Norwich, Norfolk NR2 2TJ2
£200K01/230.59 mi7, Wessex Street, Norwich, Norfolk NR2 2TJ2
£46.3K03/210.59 mi39, Wessex Street, Norwich, Norfolk NR2 2TJ2
£162K01/230.59 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£180K01/210.59 mi4, Three King Lane, Norwich, Norfolk NR2 1TX2
£165K10/230.59 miFlat 11, Marlborough House, Grove Road, Norwich, Norfolk NR1 3RQ2
£147.5K05/210.6 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£225K12/200.6 mi37, Kerrison Road, Norwich, Norfolk NR1 1JB2
£150K03/210.62 miThe Second Floor Flat, 4, Grove Avenue, Norwich, Norfolk NR1 2QD2
£217.5K03/210.62 mi7, St Margarets Street, Norwich, Norfolk NR2 4TU2

Local Rents

50 rents from £925/mo to £2.5K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,05006/240.06 miScoles Green, Norwich2
£1,20003/240.07 miBartholomew Court, NR1 1FS2
£1,15003/240.07 miBartholomew Court, NR1 1FS2
£1,15006/240.07 miBartholomew Court, NR1 1FT2
£1,15007/220.07 miBartholomew Court, NR1 1FT2
£1,20003/240.07 miBartholomew Court, NR1 1FS2
£1,20006/240.07 miBartholomew Court, NR1 1FT2
£1,20012/240.08 miDrays Yard, NORWICH2
£1,55006/240.08 miLords Gardens, NR1 1FY2
£1,25006/240.08 miLords Gardens, NR1 1FY2
£1,20006/240.08 miLords Gardens, NR1 1FY2
£1,20006/240.08 miLords Gardens, NR1 1FY2
£1,95012/240.08 miLords Gardens, NR1 1FY2
£95006/240.08 miRouen Road, Norwich, Norfolk, NR12
£95006/240.08 miRouen Road, Norwich, Norfolk, NR12
£1,20011/240.09 mi-2
£1,20012/240.1 mi23 Cattle Market Street, NORWICH2
£1,25012/240.1 miCattle Market Street, NORWICH2
£1,25006/240.12 miSt Peters House, Cattlemarket Street, Norwich2
£1,45012/240.13 mi-2
£95006/240.13 miTudor Hall, Norwich2
£95006/240.14 miEmms Court, Norwich2
£1,20006/240.14 miCity Centre, NR12
£1,99506/240.17 miGreyfriars Road, Norwich, 2
£1,50006/240.17 mi-2
£1,50006/240.17 miGreyfriars Road, Norwich, NR12
£99506/240.17 miGreyfriars Road, Norwich, Norfolk, NR12
£92506/240.17 miGreyfriars Road, Norwich, Norfolk, NR12
£1,35012/240.18 mi-2
£1,60012/240.18 mi-2
£1,40002/250.18 mi-2
£1,50003/250.18 mi-2
£97506/240.19 miHardwick House, NR1 1DB2
£1,25012/240.2 miKing Street, Norwich2
£1,49512/240.2 mi-2
£1,15001/250.2 mi-2
£1,35012/240.21 miKing Street, Norwich2
£2,50012/240.21 mi-2
£1,60003/250.21 mi-2
£97506/240.22 miPrince Of Wales Road, Norwich2
£1,60003/240.22 miWestlegate, Norwich2
£1,10012/240.23 mi-2
£1,25012/240.23 miEast Bank, Wherry Road, Norwich, NR12
£1,65003/240.23 miCity Centre, NR12
£1,50012/240.23 miPrince of Wales Road, NR1 1NJ2
£1,20006/240.24 miPrince of Wales Road, Norwich, Norfolk, NR12
£1,65002/250.25 mi-2
£1,22506/240.25 miCity Centre2
£1,35001/240.25 mi-2
£1,10004/240.25 mi-2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.02 miles away

Nearest school

0.20 miles away

Nearest train station

0.29 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £130,000

February 1, 2024

Floor Plans

Description

  • NO ONWARD CHAIN +

  • Walking distance to the city centre and train station +

  • Perfect for first time buyers or investment +

  • Highly sought after location +

  • Open plan lounge/ diner +

SUMMARY
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 is being sold with the added benefit of NO ONWARD CHAIN!! Viewings are highly recommended!!!!

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 good sized bedrooms, open plan lounge/ diner, is in easy walking distance of Norwich city centre/ train station and is being sold with the added benefit of NO ONWARD CHAIN!

Accommodation comprises of secure phone entry system, stairs to first floor, entrance hall, open plan lounge/ diner, kitchen, two good sized bedrooms and bathroom.

Viewings are highly recommended not to miss out on this great apartment!!

Secure Phone Entry System 
Stairs to first floor.

Entrace Hall 
Door to front, laminated floor and airing cupboard.

Lounge/ Diner 11' 10" x 16' 9" ( 3.61m x 5.11m )
Double glazed window to side, laminated floor, electric radiator, TV point and phone point.

Kitchen 8' 10" x 6' 7" ( 2.69m x 2.01m )
Wall base units, work surfaces, space for washing machine, space for fridge/ freezer, stainless steel one sized bowl, extractor fan and space for cooker.

Bedroom One 13' 1" x 9' 1" plus recess ( 3.99m x 2.77m plus recess )
Double glazed window to front, laminated floor, electric radiator and TV point.

Bedroom Two 9' 5" x 7' 3" ( 2.87m x 2.21m )
Double glazed window to front, laminated floor, phone point and electric radiator.

Bathroom 
Vinyl flooring, electric radiator, wash hand basin, W/C and bath.

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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