2 Bed Flat, Single Let, Norwich, NR1 1GW, £210,000

Geoffrey Watling Way, Norwich, Norfolk, NR1 1GW - a year ago

Leasehold
BTL
ROI: 3%
~68 m²
+11 photos

ValuationOvervalued

Sold Prices£107.5K - £325K
Sold Prices/m²£1.8K/m² - £4.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.1K/m²

Value Estimate

£181,223

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£52,500

Stamp Duty & Legal Fees

£7,500

Total Cash In

£60,000

 

 

Cash Out

 

Rent Range

£1,050 - £1,600

Rent Estimate

£1,050

Running Costs/mo

£886

Cashflow/mo

£164

Cashflow/yr

£1,965

ROI

3%

Gross Yield

6%

Local Sold Prices

50 sold prices from £107.5K to £325K, average is £149K. £1.8K/m² to £4.2K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£225K12/200.17 mi37, Kerrison Road, Norwich, Norfolk NR1 1JB2
£325K01/230.19 miFlat 34, Bridgemaster Court, Wherry Road, Norwich, Norfolk NR1 1XG2
£270K10/200.2 miApartment 101, Cannon Wharf, King Street, Norwich, Norfolk NR1 2FG2
£150K12/230.24 mi27, Wherry Road, Norwich, Norfolk NR1 1WS2
£140K01/210.24 mi13, Wherry Road, Norwich, Norfolk NR1 1WS2
£173.5K03/230.24 mi2, Wherry Road, Norwich, Norfolk NR1 1WS2
£160K05/230.27 mi15, Abbey Court, Norwich, Norfolk NR1 2AW2
£168K03/210.36 miFlat 1, Squires Haven, Clarence Road, Norwich, Norfolk NR1 1HQ2
£158K08/230.36 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.36 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K01/210.39 mi32, Wilson Road, Norwich, Norfolk NR1 1YP2
£168K05/230.42 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£135K02/210.44 mi138, Thorpe Road, Norwich, Norfolk NR1 1RH2
£145K03/240.45 mi86, Scott Road, Norwich, Norfolk NR1 1YR2
£140K01/210.45 mi66, Scott Road, Norwich, Norfolk NR1 1YR2
£152K11/210.45 mi20, Scott Road, Norwich, Norfolk NR1 1YR2
£148K05/210.45 mi84, Scott Road, Norwich, Norfolk NR1 1YR2
£143K05/230.45 mi140, Scott Road, Norwich, Norfolk NR1 1YR2
£144K04/240.45 mi22, Scott Road, Norwich, Norfolk NR1 1YR2
£155K03/230.45 mi77, Scott Road, Norwich, Norfolk NR1 1YL2
£160K07/230.45 mi129, Scott Road, Norwich, Norfolk NR1 1YL2
£160K02/230.45 mi75, Scott Road, Norwich, Norfolk NR1 1YL2
£140K05/230.45 mi21, Scott Road, Norwich, Norfolk NR1 1YL2
£159K12/230.45 mi51, Scott Road, Norwich, Norfolk NR1 1YL2
£218K11/200.46 mi5, Maltsters Yard, Norwich, Norfolk NR1 1RQ2
£145K02/230.46 mi144b, Thorpe Road, Norwich, Norfolk NR1 1RH2
£115K03/210.47 mi4, Hill House Road, Norwich, Norfolk NR1 4BW2
£122K10/210.48 mi105, Rosary Road, Norwich, Norfolk NR1 4BX2
£140K07/210.48 mi16, Gordon Square, Norwich, Norfolk NR1 3HJ2
£132.5K07/230.48 mi9, Gordon Square, Norwich, Norfolk NR1 3HJ2
£138K09/210.48 mi23, Gordon Square, Norwich, Norfolk NR1 3HJ2
£158K02/230.49 mi38, Glendenning Road, Norwich, Norfolk NR1 1YS2
£138.5K12/200.5 mi90, Glendenning Road, Norwich, Norfolk NR1 1YN2
£225K09/210.51 miFlat 3, Trowse House, Bracondale Millgate, Norwich, Norfolk NR1 2EQ2
£185K08/230.51 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£150K08/230.51 mi39, Glendenning Road, Norwich, Norfolk NR1 1YS2
£160K01/240.53 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£140K10/230.54 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£150K10/210.54 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£162K04/230.55 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£162K01/230.55 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£143K01/240.58 mi64, Lakenfields, Norwich, Norfolk NR1 2HA2
£147.5K05/210.58 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£138K01/240.59 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£260K11/210.61 mi17, St Martin At Bale Court, Norwich, Norfolk NR1 3DZ2
£113K05/210.61 mi34, Sunny Hill, Norwich, Norfolk NR1 2ET2
£125K06/210.61 mi24, Sunny Hill, Norwich, Norfolk NR1 2ET2
£107.5K12/230.61 mi79, Ingram Court, Norwich, Norfolk NR1 2HQ2
£190K05/210.63 mi108, Bertram Way, Norwich, Norfolk NR1 1FD2
£122K04/210.64 mi29, Roseville Close, Norwich, Norfolk NR1 1UX2

Local Rents

52 rents from £1.1K/mo to £1.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,05006/240 miAllison Bank, Geoffrey Watling Way, Norwich2
£1,20010/240.02 mi-2
£1,40006/240.04 miCity Centre, Norwich, NR12
£1,30006/240.05 miGeoffrey Watling Way, NORWICH2
£1,30006/240.05 mi-2
£1,30006/240.05 miPaper Mill Yard, Norwich, NR12
£1,09512/240.05 miGeoffrey Watling Way, Norwich, Norfolk, NR12
£1,35012/240.05 miLochhead Bank, NR1 1GF2
£1,60006/240.05 miNorwich, NR12
£1,10006/240.05 miPaper Mill Yard, King Street, Norwich, NR12
£1,25012/240.05 miLochhead Bank, Norwich2
£1,05012/240.07 miRobinson Bank, Norwich, NR1 1GG2
£1,45012/240.08 mi-2
£1,49504/250.08 mi-2
£1,49504/250.08 mi-2
£1,45012/240.08 miSolace, Norwich, NR12
£1,20012/240.08 miNorwich, NR12
£1,20006/240.08 miBlue Mill, Paper Mill Yard2
£1,20012/240.09 mi-2
£1,45003/250.11 mi-2
£1,35003/250.11 mi-2
£1,40006/240.12 miThe Malt House, NR1 2TP2
£1,55003/240.12 mi-2
£1,40006/240.13 miKing Street, Norwich2
£1,35006/240.15 miNew Ferry Yard2
£1,30004/240.16 mi-2
£1,50004/250.16 mi-2
£1,20006/240.16 miKing Street, Norwich2
£1,20006/240.17 miCanary Quay, NR12
£1,20006/240.17 miCanary Quay, NR12
£1,35012/240.17 miRichard Hawthorn House, NR1 1GS2
£1,40006/240.17 miGeoffrey Watling Way, NORWICH2
£1,60012/240.17 miRichard Hawthorne House, Norwich2
£1,35012/240.17 miGeoffrey Watling Way, Norwich, NR12
£1,10006/240.17 miCarrow Road, Norwich2
£1,50002/240.17 mi-2
£1,30006/240.19 miWherry Road, NORWICH2
£1,35012/240.19 miWherry Road, Norwich, Norfolk, NR12
£1,25006/240.2 miKing Street, NORWICH2
£1,10006/240.24 mi-2
£1,10012/240.24 mi-2
£1,15002/250.24 mi-2
£1,30012/240.24 miNorwich, NR12
£1,10012/240.24 miWherry Road, Norwich2
£1,27009/240.24 mi-2
£1,15012/240.26 mi-2
£1,20012/240.26 mi-2
£1,20012/240.26 mi-2
£1,25006/240.27 mi-2
£1,25012/240.28 miEast Bank, Wherry Road, Norwich, NR12
£1,10012/240.29 mi-2
£1,05006/240.32 miCity Road2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.49 miles away

Nearest school

0.50 miles away

Nearest train station

0.43 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £210,000

May 2, 2024

Floor Plans

Description

  • Ground Floor Flat +
  • Patio Area +
  • En-Suite Bathrooms +
  • Double Glazing +

South-East of Norwich, in the neighbourhood of Allison Bank, Geoffrey Watling Way, a lovely, 2-bedroom flat is located. With stunning interiors, outdoor entertainment space and walking distance to the River Yare waters edge!

GROUND FLOOR
From the flats grand hallway, you are appointed by numerous spaces.

The hallway bathroom facilities as the en-suite to bedroom 1.
It features a bathtub with overhead shower attachment, toilet and sink basin.

The second bedroom has its en-suite attached to the room itself.
Featuring a standing shower, toilet and sink basin.
The bedroom itself offers great living space and integrated storage space!

The grand feature is the open-plan layout of the kitchen through to the living room.
The kitchen has stunning, modern interiors.
Crisp, white fitments, divided by the glossy, grey flooring and unique splashbacks.
Equipped with electric hob, ovens and overhead extractor fan.

Joining on from this is the living room. It features fully carpeted flooring and double-glazed, sliding doors to the patio.

OUTDOOR
The patio offers great space for external entertainment.
Under ground parking space.

Ground rent: £1,859.00
Service charge: £219.31
Lease term: 97 years left

Council Tax Band: C

Opening times:
Monday - Friday: 09:00am - 18:00pm
Saturday: 10:00am - 16:00pm
Sunday: CLOSED

Agent Details

Leadenhall Estates, Colchester

020 7101 2742

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪