2 Bed Flat, Single Let, Norwich, NR1 1NS, £175,000

Prince Of Wales Road, Norwich, NR1 1NS - 2 views - a year ago

Sold STC
Leasehold
BTL
ROI: 4%
~68 m²
+16 photos

ValuationUndervalued

Sold Prices£110K - £325K
Sold Prices/m²£1.6K/m² - £4.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.6K/m²

Value Estimate

£179,107
BMV2%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£43,750

Stamp Duty & Legal Fees

£6,450

Total Cash In

£50,200

 

 

Cash Out

 

Rent Range

£850 - £1,995

Rent Estimate

£928

Running Costs/mo

£752

Cashflow/mo

£176

Cashflow/yr

£2,106

ROI

4%

Gross Yield

6%

Local Sold Prices

50 sold prices from £110K to £325K, average is £160K. £1.6K/m² to £4.2K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£180K10/210.17 mi4, Maidstone Road, Norwich, Norfolk NR1 1EA2
£172.5K11/230.17 mi49, Maidstone Road, Norwich, Norfolk NR1 1EA2
£122K10/210.23 mi105, Rosary Road, Norwich, Norfolk NR1 4BX2
£190K05/210.24 mi108, Bertram Way, Norwich, Norfolk NR1 1FD2
£218K11/200.27 mi5, Maltsters Yard, Norwich, Norfolk NR1 1RQ2
£260K11/210.27 mi17, St Martin At Bale Court, Norwich, Norfolk NR1 3DZ2
£185K08/230.3 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£115K03/210.3 mi4, Hill House Road, Norwich, Norfolk NR1 4BW2
£150K12/230.34 mi27, Wherry Road, Norwich, Norfolk NR1 1WS2
£140K01/210.34 mi13, Wherry Road, Norwich, Norfolk NR1 1WS2
£173.5K03/230.34 mi2, Wherry Road, Norwich, Norfolk NR1 1WS2
£200K10/230.4 mi23a, Wensum Street, Norwich, Norfolk NR3 1LA2
£142K09/200.41 mi10a, Bishop Bridge Road, Norwich, Norfolk NR1 4ET2
£236.5K01/230.41 mi10, Roaches Court, Norwich, Norfolk NR3 1HJ2
£168K05/230.42 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£325K01/230.42 miFlat 34, Bridgemaster Court, Wherry Road, Norwich, Norfolk NR1 1XG2
£168K03/210.42 miFlat 1, Squires Haven, Clarence Road, Norwich, Norfolk NR1 1HQ2
£190K07/210.44 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£270K10/200.44 miApartment 101, Cannon Wharf, King Street, Norwich, Norfolk NR1 2FG2
£203K02/230.44 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£158K08/230.46 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.46 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£140K12/200.46 mi25, Fishergate, Norwich, Norfolk NR3 1SE2
£150K10/210.46 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£167.5K04/230.47 mi120, St Leonards Road, Norwich, Norfolk NR1 4JG2
£150K06/230.47 mi106, St Leonards Road, Norwich, Norfolk NR1 4JG2
£110K01/210.48 mi133, St Leonards Road, Norwich, Norfolk NR1 4JN2
£180K12/220.48 mi26, Blackfriars Street, Norwich, Norfolk NR3 1SF2
£117K01/210.49 mi171, St Leonards Road, Norwich, Norfolk NR1 4JN2
£120K10/200.49 mi215, St Leonards Road, Norwich, Norfolk NR1 4JN2
£110K01/210.49 mi133, St Leonards Road, Norwich, Norfolk NR1 4JN2
£195K09/230.51 miFlat 44, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£182K09/210.51 miFlat 33, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£131.5K08/210.56 mi6, Pockthorpe Gate, Norwich, Norfolk NR3 1TU2
£142K10/210.56 mi81, Cowgate, Norwich, Norfolk NR3 1TG2
£110K11/200.57 mi100, St James Close, Norwich, Norfolk NR3 1PE2
£165K02/230.57 mi100, St James Close, Norwich, Norfolk NR3 1PE2
£210K01/230.58 mi11, Cavalry Ride, Norwich, Norfolk NR3 1UA2
£135K02/210.58 mi138, Thorpe Road, Norwich, Norfolk NR1 1RH2
£225K12/200.58 mi37, Kerrison Road, Norwich, Norfolk NR1 1JB2
£160K09/230.58 mi90, Mousehold Street, Norwich, Norfolk NR3 1NX2
£147.5K12/220.59 mi200, Mousehold Street, Norwich, Norfolk NR3 1PG2
£145K02/230.59 mi144b, Thorpe Road, Norwich, Norfolk NR1 1RH2
£147.5K01/210.6 mi32, Wilson Road, Norwich, Norfolk NR1 1YP2
£160K05/230.63 mi15, Abbey Court, Norwich, Norfolk NR1 2AW2
£155K03/230.64 mi77, Scott Road, Norwich, Norfolk NR1 1YL2
£160K07/230.64 mi129, Scott Road, Norwich, Norfolk NR1 1YL2
£160K02/230.64 mi75, Scott Road, Norwich, Norfolk NR1 1YL2
£140K05/230.64 mi21, Scott Road, Norwich, Norfolk NR1 1YL2
£159K12/230.64 mi51, Scott Road, Norwich, Norfolk NR1 1YL2

Local Rents

50 rents from £850/mo to £2K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£99506/240 miPrince Of Wales Road, Norwich2
£1,20006/240.01 miPrince of Wales Road, Norwich, NR12
£1,20006/240.01 miPrince Of Wales Road, NORWICH2
£1,60012/240.01 miPrince Of Wales Road, NORWICH2
£1,65012/240.01 miPrince Of Wales Road, NORWICH2
£1,05006/240.01 miNorwich City Centre2
£1,70006/240.01 miGrosvenor House, Norwich, NR12
£1,60006/240.01 miGrosvenor House, Norwich, NR12
£1,35006/240.01 miGrosvenor House, Norwich, NR12
£1,10006/240.01 miPrince Of Wales Road, Norwich, NR12
£1,35001/240.01 mi-2
£1,70004/240.01 mi-2
£1,60004/240.01 mi-2
£1,35004/240.01 mi-2
£1,10004/240.01 mi-2
£1,70003/250.01 mi-2
£1,32003/250.01 mi-2
£1,60003/250.01 mi-2
£1,32512/240.01 mi-2
£1,35002/250.01 mi-2
£1,15003/250.01 mi-2
£1,22506/240.01 miCity Centre2
£1,65002/250.02 mi-2
£1,40006/240.02 miFoundry Court, Recorder Road, Norwich, Norfolk, NR12
£1,50006/240.02 miFoundry Court, Recorder Road, Norwich, Norfolk, NR12
£1,30012/240.02 miFoundry Court, Recorder Road, Norwich, Norfolk, NR12
£1,20006/240.02 miPrince of Wales Road, Norwich, Norfolk, NR12
£85012/240.03 mi-2
£95001/250.03 mi-2
£1,10006/240.04 miSt Faiths Lane, Norwich2
£1,50012/240.04 miPrince of Wales Road, NR1 1NJ2
£1,65003/240.12 miCity Centre, NR12
£1,25012/240.13 miChalk Hill Road, Norwich2
£1,19512/240.13 miNorwich2
£1,25012/240.14 miSt Matthews Road, Norwich2
£1,49512/240.16 mi-2
£97506/240.17 miPrince Of Wales Road, Norwich2
£1,19506/240.17 miFerry Road, Norwich, 2
£1,50003/250.18 mi-2
£95006/240.19 miTudor Hall, Norwich2
£1,35012/240.19 mi-2
£1,60012/240.19 mi-2
£99506/240.19 miGreyfriars Road, Norwich, Norfolk, NR12
£92506/240.19 miGreyfriars Road, Norwich, Norfolk, NR12
£1,25012/240.19 miLower Clarence Road, Norwich2
£1,50006/240.19 mi-2
£1,50006/240.19 miGreyfriars Road, Norwich, NR12
£1,25012/240.19 mi-2
£1,99506/240.19 miGreyfriars Road, Norwich, 2
£1,15006/240.2 miBartholomew Court, NR1 1FT2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

0.95 miles away

Nearest school

0.10 miles away

Nearest train station

0.15 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £175,000

March 27, 2024

Floor Plans

Description

  • CHAIN FREE +
  • SHORT WALK TO THE TRAIN STATION +
  • SPACIOUS, MODERN APARTMENT +
  • PERFECT FOR FIRST TIME BUYERS +
  • TWO BEDROOMS +
  • ALLOCATED PARKING +
  • SHORT WALK INTO THE CITY CENTRE +
  • OPEN PLAN RECEPTION ROOM +

CHAIN FREE! A modern two bedroom apartment, located just a short walk from the train station and city centre. Welcome into this contemporary apartment, benefitting from an open plan reception room with a well-equipped kitchen, stylish bathroom, ample storage, allocated parking and a secure entry system. Perfect for first time buyers or investors looking to acquire a turn-key property. LOCATION The apartment is situated in the heart of Norwich City Centre, the popular medieval city and the heart of East Anglia. Boasting a wealth of amenities in walking distance such as Norwich Train Station with great connections to London, the popular Riverside Complex and Norwich Theatre Royal. Whilst being ideally based on great bus routes. The city provides night life, cultural and social activities as well as a great shopping experience. State, Faith and independent schools for all age groups, local shopping facilities, supermarkets, public houses, and a variety of parks such as James Stuart gardens are all within a close range. Also within close proximity to the University of East Anglia, NHS walk-in centre, N&N university hospital, Post Office and Rose Lane car park. GROSVENOR HOUSE Introducing a fantastic opportunity to acquire a modern and spacious two-bedroom apartment, ideal for first-time buyers or investors looking for a highly desirable property. Nestled within a prime location just a short walk away from the train station, residents can enjoy excellent transport links making city commuting effortless.

Upon stepping into this contemporary apartment, you are greeted by a light-filled open plan reception room, perfectly designed for modern living and entertaining. The living area offers ample space for both lounging and dining, while the sleek kitchen area features integrated appliances and plenty of storage options.

The property boasts two generously sized bedrooms, providing comfortable spaces for rest and relaxation. A second well-appointed bedroom is perfect for guests, a home office, or additional family members. A modern bathroom awaits, boasting a three piece suite.

One of the standout features of this property is the allocated parking space, providing convenience and peace of mind for residents with vehicles.

Furthermore, the apartment's location offers the best of both worlds; a peaceful residential area with quick access to the bustling city centre. Enjoy leisurely strolls or quick a quick run to nearby shops, restaurants, and entertainment venues, all just a short walk away.

The building itself is well-maintained, with a secure entrance ensuring residents' safety and peace of mind. The apartment's interior benefits from modern fixtures and fittings, creating a comfortable and contemporary living space that is ready to move into and enjoy.
AGENTS NOTE We understand the property will be sold leasehold with 247 years remaining on the lease mains water, mains electricity and mains drainage. Ground rent - £146.50 P/A. Maintenance fee - £1476.15 P/A. Council tax band - B.

EPC Rating: E Disclaimer Minors and Brady, along with their representatives, are not authorized to provide assurances about the property, whether on their own behalf or on behalf of their client. We do not take responsibility for any statements made in these particulars, which do not constitute part of any offer or contract. It is recommended to verify leasehold charges provided by the seller through legal representation. All mentioned areas, measurements, and distances are approximate, and the information provided, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively. It should not be assumed that the property has all necessary planning, building regulations, or other consents. Services, equipment, and facilities have not been tested by Minors and Brady, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.

Agent Details

Minors & Brady, Unthank Road, Norwich

01603 361808

Next Steps?

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