2 Bed Flat, Potential PLO/LOA, Chelmsford, CM2 6SX, £220,000

63 Earlsfield Drive, Chelmsford, Essex, CM2 6SX - 2 views - a year ago

Sold STC

Leasehold

Negative Equity

ROI: 3%

51 m²

+4 photos

ValuationOvervalued

Sold Prices	£150K - £320K
Sold Prices/m²	£2.6K/m² - £5.2K/m²

Square Metres	51 m²
Price/m²	£4.3K/m²
Value Estimate	£196,530£196,530

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£55,000£55,000
Stamp Duty & Legal Fees	£7,800£7,800
Total Cash In	£62,800£62,800

Cash Out
Rent Range	£1,050 - £1,550£1,050 - £1,550
Rent Estimate	£1,075
Running Costs/mo	£923£923
Cashflow/mo	£153£153
Cashflow/yr	£1,830£1,830
ROI	3%3%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £150K to £320K, average is £210K. £2.6K/m² to £5.2K/m², average is £3.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£210K	10/21	0.01 mi	28, Earlsfield Drive, Chelmsford, Essex CM2 6SX	£3,889	54	2	Flat
£202.5K	03/23	0.01 mi	56, Earlsfield Drive, Chelmsford, Essex CM2 6SX	-	-	2	Flat
£240K	02/23	0.02 mi	23, Earlsfield Drive, Chelmsford, Essex CM2 6SX	£4,615	52	2	Flat
£196.5K	03/23	0.07 mi	136, Ramshaw Drive, Chelmsford, Essex CM2 6UB	£3,358	59	2	Flat
£198K	03/21	0.07 mi	34, Ramshaw Drive, Chelmsford, Essex CM2 6UB	£3,808	52	2	Flat
£211K	02/21	0.07 mi	42, Ramshaw Drive, Chelmsford, Essex CM2 6UB	£4,220	50	2	Flat
£215K	01/21	0.07 mi	66, Ramshaw Drive, Chelmsford, Essex CM2 6UB	£4,057	53	2	Flat
£219K	02/23	0.07 mi	46, Ramshaw Drive, Chelmsford, Essex CM2 6UB	£4,294	51	2	Flat
£255K	07/23	0.08 mi	23, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW	£4,554	56	2	Flat
£255K	03/23	0.08 mi	53, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW	£4,694	54	2	Flat
£225K	05/21	0.08 mi	145, Beeleigh Link, Chelmsford, Essex CM2 6PH	£3,504	64	2	Flat
£220K	04/21	0.08 mi	147a, Beeleigh Link, Chelmsford, Essex CM2 6PH	£3,925	56	2	Flat
£217K	05/21	0.13 mi	169, Pollards Green, Chelmsford, Essex CM2 6UX	£3,391	64	2	Flat
£245K	01/21	0.19 mi	78, Chelmer Road, Chelmsford, Essex CM2 6AB	£3,889	63	2	Flat
£190K	05/21	0.22 mi	42, Jeffcut Road, Chelmsford, Essex CM2 6XN	£3,519	54	2	Flat
£188K	01/21	0.22 mi	30, Jeffcut Road, Chelmsford, Essex CM2 6XN	£3,760	50	2	Flat
£210K	03/21	0.29 mi	31, Salter Place, Chelmsford, Essex CM2 6UU	£3,621	58	2	Flat
£208K	10/20	0.34 mi	23, Goddard Way, Chelmsford, Essex CM2 6UR	£4,078	51	2	Flat
£208K	10/20	0.34 mi	23, Goddard Way, Chelmsford, Essex CM2 6UR	£4,078	51	2	Flat
£205K	12/20	0.35 mi	25, Fawkner Close, Chelmsford, Essex CM2 6UP	£3,942	52	2	Flat
£210K	12/20	0.35 mi	27, Fawkner Close, Chelmsford, Essex CM2 6UP	£4,200	50	2	Flat
£242.5K	06/23	0.35 mi	25, Fawkner Close, Chelmsford, Essex CM2 6UP	£4,663	52	2	Flat
£245K	03/23	0.45 mi	290, Springfield Road, Chelmsford, Essex CM2 6BA	£3,769	65	2	Flat
£240K	07/21	0.47 mi	367, Springfield Road, Chelmsford, Essex CM2 6AW	£3,380	71	2	Flat
£200K	02/21	0.52 mi	394, Springfield Road, Chelmsford, Essex CM2 6AT	£3,484	57	2	Flat
£220K	12/20	0.69 mi	53, Hill Road, Chelmsford, Essex CM2 6HP	£3,099	71	2	Flat
£161.3K	03/21	0.72 mi	25, Abell Way, Springfield, Chelmsford, Essex CM2 6WU	£3,162	51	2	Flat
£157.5K	09/21	0.72 mi	29, Abell Way, Springfield, Chelmsford, Essex CM2 6WU	£2,582	61	2	Flat
£215K	02/23	0.73 mi	14, Abbotts Place, Chelmsford, Essex CM2 6RD	-	-	2	Flat
£250K	01/23	0.73 mi	66, Eglinton Drive, Chelmsford, Essex CM2 6YL	£4,237	59	2	Flat
£177K	06/21	0.79 mi	29, Bodmin Road, Chelmsford, Essex CM1 6LJ	£4,214	42	2	Flat
£165K	02/21	0.81 mi	42, Bryant Link, Springfield, Chelmsford, Essex CM2 6GZ	£2,845	58	2	Flat
£205.7K	05/23	0.82 mi	9, Canvey Walk, Chelmsford, Essex CM1 6LB	-	-	2	Flat
£189.5K	11/21	0.82 mi	33, Canvey Walk, Chelmsford, Essex CM1 6LB	£3,305	57	2	Flat
£210K	12/22	0.82 mi	49, Canvey Walk, Chelmsford, Essex CM1 6LB	£3,818	55	2	Flat
£252.5K	02/21	0.84 mi	75, Lockside Marina, Chelmsford, Essex CM2 6HF	£4,208	60	2	Flat
£300K	03/21	0.84 mi	48, Lockside Marina, Chelmsford, Essex CM2 6HF	£4,762	63	2	Flat
£203K	08/23	0.84 mi	29, Azalea Court, Chelmsford, Essex CM1 6YL	£4,060	50	2	Flat
£150K	06/21	0.85 mi	139, Cornflower Drive, Chelmsford, Essex CM1 6XZ	£3,061	49	2	Flat
£186K	02/23	0.85 mi	65, Cornflower Drive, Chelmsford, Essex CM1 6XZ	£3,720	50	2	Flat
£181K	07/23	0.87 mi	84, Foxglove Way, Chelmsford, Essex CM1 6QR	£3,771	48	2	Flat
£160K	12/20	0.88 mi	Flat 201, Balmoral Court, Springfield Road, Chelmsford, Essex CM2 6JQ	-	-	2	Flat
£242.5K	11/21	0.91 mi	4, Coates Quay, Chelmsford, Essex CM2 6HU	£4,254	57	2	Flat
£260K	02/23	0.91 mi	18, Coates Quay, Chelmsford, Essex CM2 6HU	£5,200	50	2	Flat
£175K	03/21	0.92 mi	114, Lupin Drive, Chelmsford, Essex CM1 6FJ	£3,500	50	2	Flat
£180K	03/23	0.92 mi	114, Lupin Drive, Chelmsford, Essex CM1 6FJ	£3,600	50	2	Flat
£185K	07/23	0.93 mi	34, Lupin Drive, Chelmsford, Essex CM1 6FH	£3,936	47	2	Flat
£254K	11/21	0.93 mi	42, Wharf Road, Chelmsford, Essex CM2 6LU	£3,432	74	2	Flat
£320K	06/23	0.93 mi	85, Wharf Road, Chelmsford, Essex CM2 6FS	£3,902	82	2	Flat
£270K	11/20	0.93 mi	85, Wharf Road, Chelmsford, Essex CM2 6FS	£3,293	82	2	Flat

Local Rents

27 rents from £1.1K/mo to £1.6K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,150	05/24	0.01 mi	Earlsfield Drive, Chelmer Village, Chelmsford, CM2	2	Flat
£1,150	04/24	0.06 mi	Ramshaw Drive, Chelmsford	2	Flat
£1,200	04/24	0.07 mi	Ramshaw Drive, Chelmsford, Essex, CM2	2	Flat
£1,300	02/24	0.09 mi	-	2	Flat
£1,450	03/24	0.09 mi	Ramshaw Drive, Chelmsford	2	Detached House
£1,350	04/24	0.09 mi	Ramshaw Drive, Chelmsford	2	Semi-Detached House
£1,200	03/24	0.09 mi	Ramshaw Drive, Chelmer Village	2	Flat
£1,050	03/24	0.14 mi	Kerby Rise, CM2	2	Flat
£1,400	03/24	0.2 mi	-	2	Semi-Detached House
£1,450	03/24	0.2 mi	Bankart Lane, Chelmsford, CM2	2	Detached House
£1,550	05/24	0.22 mi	-	2	Semi-Detached House
£1,550	04/24	0.22 mi	Burgess Field, Chelmsford, CM2	2	Semi-Detached House
£1,400	03/24	0.22 mi	Inkerpole Place, Chelmsford	2	Detached House
£1,400	03/25	0.24 mi	-	2	Terraced House
£1,250	04/24	0.28 mi	Cavendish Gardens, Chelmsford, Essex, CM2	2	Flat
£1,300	03/24	0.29 mi	Gilson Close, Chelmer Village, Chelmsford, Essex, CM2	2	Flat
£1,300	03/24	0.29 mi	Gilson Close, CHELMSFORD	2	Flat
£1,475	04/24	0.36 mi	Woodroffe Close, CM2	2	Bungalow
£1,425	03/24	0.44 mi	Gainsborough Crescent, Chelmsford, CM2	2	Terraced House
£1,200	03/24	0.45 mi	Springfield Road, CM2	2	Flat
£1,300	05/24	0.45 mi	Springfield Road, Chelmsford	2	Flat
£1,350	05/24	0.47 mi	Sandford Road, Chelmsford, CM2 6DE	2	Semi-Detached House
£1,395	04/24	0.47 mi	Saywell Brook, Chelmsford	2	Terraced House
£1,150	03/24	0.5 mi	Springfield Road, CM2	2	Flat
£1,500	04/24	0.54 mi	Chelmer Road, Chelmsford	2	Detached House
£1,100	05/24	0.6 mi	Oasis Court, Chelmsford, CM2	2	Flat
£1,350	03/24	0.6 mi	Sandford Court, Sandford Road, Chelmsford, Essex, CM2	2	Flat

Local Area Statistics

Population in CM2	58,24458,244
Population in Chelmsford	174,693174,693
Town centre distance	1.53 miles away1.53 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	1.40 miles away1.40 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+23%+23%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+15%+15%

Property History

Listed for £220,000

-11%

February 22, 2024

Sold for £245,000

2022

Floor Plans

Description

Close Proximity To Chelmsford Station +
Two-Bedrooms +
Garage +
Flat +
Recently Decorated +
Ideally Located +
Schools Nearby +
Double Glazed Windows Through-Out +
Modern Bathroom +

Guide Price £220,000 - £240,000. Step into this newly decorated two-bedroom, one-bathroom flat, offering the perfect blend of style and practicality. The property boasts double glazed windows, ensuring a cosy and energy-efficient environment. The spacious lounge provides a comfortable retreat, while the modern kitchen is equipped for culinary excellence. The bedrooms are generously sized, providing ample space for relaxation. The contemporary bathroom is a highlight, featuring a sleek walk-in shower for a touch of indulgence. What sets this property apart is the added convenience of a garage and parking; offering secure parking and extra storage space!

This property is ideally located in Chelmer village which is well known for the popular retail park and within a short distance to the city Centre and railway station. There is excellent bus routes and a range of parks and walkways plus a village square boasting an ASDA superstore, opticians and a dental surgery.

Chelmsford's mainline station provides a direct service to London Liverpool St with a journey time as fast as 28 minutes, the property is also conveniently located within close distance to the A12 and A414 which provide access to the M25 and M11.

Chelmsford offers some of the most highly regarded schools in the UK. Some secondary schools are Chelmsford County High for Girls, King Edwards VI Grammar School and The Boswells Schools.

Agent Details

haart, Chelmsford

01245 945473

Next Steps?

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