2 Bed Flat, Single Let, Letchworth Garden City, SG6 1AL, £150,000

The Mews, Letchworth Garden City, SG6 1AL - 5 views - a year ago

Leasehold

BTL

ROI: 9%

~68 m²

+5 photos

ValuationUndervalued

Sold Prices	£200K - £290K
Sold Prices/m²	£3K/m² - £4.8K/m²

Square Metres	~68.11 m²
Price/m²	£2.2K/m²
Value Estimate	£196,800£196,800
BMV	23%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£37,500£37,500
Stamp Duty & Legal Fees	£6,000£6,000
Total Cash In	£43,500£43,500

Cash Out
Rent Range	£1,050 - £1,795£1,050 - £1,795
Rent Estimate	£1,058
Running Costs/mo	£700£700
Cashflow/mo	£358£358
Cashflow/yr	£4,292£4,292
ROI	10%10%
Gross Yield	8%8%

Local Sold Prices

20 sold prices from £200K to £290K, average is £223K. £3K/m² to £4.8K/m², average is £3.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£218K	03/21	0.23 mi	108, Kristiansand Way, Letchworth Garden City, Hertfordshire SG6 1TY	£4,360	50	2	Flat
£200K	09/21	0.59 mi	64, Cromwell Road, Letchworth Garden City, Hertfordshire SG6 1DT	£3,030	66	2	Flat
£207K	12/20	0.75 mi	Flat 4, Steeds Yard, Brewery Lane, Baldock, Hertfordshire SG7 5BH	-	-	2	Flat
£290K	02/23	0.78 mi	13, Sanvignes Court, Baldock, Hertfordshire SG7 5BW	£4,766	61	2	Flat
£245K	06/22	0.79 mi	5, Sanvignes Court, Baldock, Hertfordshire SG7 5BW	£3,957	62	2	Flat
£245K	12/20	0.79 mi	11, Sanvignes Court, Baldock, Hertfordshire SG7 5BW	£3,602	68	2	Flat
£258K	11/22	0.79 mi	4, Sanvignes Court, Baldock, Hertfordshire SG7 5BW	£3,851	67	2	Flat
£245K	08/23	0.79 mi	Apartment 4, Dartons House, Church Street, Baldock, Hertfordshire SG7 5AF	-	-	2	Flat
£204K	06/21	0.94 mi	Flat 38, Dunkerley Court, Birds Hill, Letchworth Garden City, Hertfordshire SG6 1FE	-	-	2	Flat
£225K	05/23	0.94 mi	Flat 3, Dunkerley Court, Birds Hill, Letchworth Garden City, Hertfordshire SG6 1FE	-	-	2	Flat
£249.5K	02/23	0.96 mi	53, Bowyer Drive, Letchworth Garden City, Hertfordshire SG6 1FX	-	-	2	Flat
£226.6K	10/22	0.96 mi	55, Bowyer Drive, Letchworth Garden City, Hertfordshire SG6 1FX	-	-	2	Flat
£225K	07/22	0.96 mi	2, Riddell Gardens, Baldock, Hertfordshire SG7 6JZ	-	-	2	Flat
£200K	03/23	0.96 mi	1, Riddell Gardens, Baldock, Hertfordshire SG7 6JZ	-	-	2	Flat
£200K	06/22	0.97 mi	19, Riddell Gardens, Baldock, Hertfordshire SG7 6JZ	£3,333	60	2	Flat
£221K	02/21	0.98 mi	58, Ascot Drive, Letchworth Garden City, Hertfordshire SG6 1FZ	-	-	2	Flat
£273.4K	04/23	0.98 mi	15, Pepper Court, Baldock, Hertfordshire SG7 6BH	£4,481	61	2	Flat
£220K	03/21	1 mi	54, Wissen Drive, Letchworth Garden City, Hertfordshire SG6 1FN	-	-	2	Flat
£200K	06/21	1 mi	Flat 71, Birchwood Court, Norton Way North, Letchworth Garden City, Hertfordshire SG6 1BH	-	-	2	Flat
£208K	06/21	1 mi	Flat 85, Birchwood Court, Norton Way North, Letchworth Garden City, Hertfordshire SG6 1BH	-	-	2	Flat

Local Rents

22 rents from £1.1K/mo to £1.8K/mo, average is £1.3K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,250	08/24	0.47 mi	Glebe Road, Letchworth Garden City	2	Flat
£1,070	08/24	0.52 mi	-	2	Terraced House
£1,200	11/23	0.63 mi	-	2	Flat
£1,400	04/25	0.77 mi	-	2	Semi-Detached House
£1,095	12/24	0.85 mi	Hitchin Street, Baldock, SG7	2	Flat
£1,400	12/24	0.93 mi	Whitehorse Street, Baldock, SG7	2	Flat
£1,450	08/24	0.93 mi	Womback Yard, Whitehorse Street, Baldock, SG7	2	Detached House
£1,500	08/24	0.94 mi	21 High Street, Baldock, SG7	2	Flat
£1,200	05/24	0.94 mi	-	2	Terraced House
£1,375	12/24	0.95 mi	Arbury Place, BALDOCK	2	Flat
£1,200	08/24	0.98 mi	Pearl Court, Whitehorse Street, Baldock	2	Flat
£1,250	12/24	0.98 mi	Whitehorse Street, Baldock, SG7	2	Flat
£1,250	12/24	0.98 mi	Pepper Court, BALDOCK	2	Flat
£1,250	07/24	0.99 mi	-	2	Flat
£1,300	12/24	0.99 mi	Wissen Drive, Letchworth Garden City, SG6	2	Flat
£1,450	12/24	0.99 mi	High Street, Baldock	2	Flat
£1,425	03/25	1.08 mi	-	2	Terraced House
£1,400	12/24	1.09 mi	Pix Road, Letchworth Garden City, SG6	2	Terraced House
£1,350	08/24	1.1 mi	-	2	Flat
£1,795	03/25	1.13 mi	-	2	Flat
£1,150	08/24	1.19 mi	-	2	Terraced House
£1,050	08/24	1.19 mi	-	2	Flat

Local Area Statistics

Population in SG6	33,16633,166
Population in Letchworth Garden City	33,20933,209
Town centre distance	1.52 miles away1.52 miles away
Nearest school	0.90 miles away0.90 miles away
Nearest train station	0.89 miles away0.89 miles away

Rental growth (12m)	+12%+12%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+17%+17%

Property History

Price changed to £150,000

December 4, 2024

Listed for £160,000

May 16, 2024

Floor Plans

Description

CHAIN FREE +
First floor +
Two bedrooms +
Lounge +
Kitchen +
Bathroom +
Double glazing +
Communal gardens +
On site laundry room +
Lots of communal parking +

CHAIN FREE......This spacious first floor apartment in a much sought after over 50`s complex in the charming parish of Norton offers two bedrooms, good size lounge, kitchen and bathroom. The complex has communal gardens, laundry facilities and lots of available parking. Lease automatically extends to 90 years when completed. No pets allowed.

Letchworth Garden City is home to the UK`s First Roundabout and is the original ‘Garden City` offering residents the best of town and country living. The Town Centre is easily accessible boasting a wide variety of civic and recreational amenities, along with a good range of shopping facilities. There is excellent local schooling, and for commuters there is a mainline train station which connects to London Kings Cross, and excellent links to major roads particularly the A1M.

Entrance Hall
Door to front aspect. Large built in cupboard. Radiator.

Lounge - 19'9" (6.02m) x 10'6" (3.2m)
Double glazed window. Radiator. TV point.

Kitchen - 12'0" (3.66m) x 7'6" (2.29m) Into Recess
Fitted kitchen comprising of a range of wall and base units. Double glazed window. Combi boiler. Radiator.

Bedroom One - 15'6" (4.72m) Into Recess x 10'10" (3.3m)
Double glazed window. Built in wardrobe. Airing cupboard. Radiator.

Bedroom Two - 8'10" (2.69m) x 8'7" (2.62m)
Double glazed window. Radiator. TV point.

Bathroom
Bath. Wash hand basin. Extractor fan. WC. Radiator.

Gardens
Communal gardens with seating areas.

Facilities
Communal laundry room. Communal coffee lounge. Various arranged activities.

Storage cupboard.
Outdoor storage cupboard housing meters.

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Alexander Lewis, Letchworth

01462 415591

Next Steps?

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