2 Bed Flat, Single Let, Colchester, CO2 8YS, £160,000

29 Keel Point Ship Wharf Colchester CO2 8YS - 4 views - a year ago

Leasehold
BTL
ROI: 11%
68 m²
+3 photos

ValuationUndervalued

Sold Prices£120K - £268K
Sold Prices/m²£1.8K/m² - £3.5K/m²

 

 

Square Metres

68 m²
Price/m²£2.4K/m²

Value Estimate

£179,637
BMV12%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£6,000

Total Cash In

£46,000

 

 

Cash Out

 

Rent Range

£950 - £1,450

Rent Estimate

£1,200

Running Costs/mo

£760

Cashflow/mo

£440

Cashflow/yr

£5,280

ROI

11%

Gross Yield

9%

Local Sold Prices

50 sold prices from £120K to £268K, average is £162K. £1.8K/m² to £3.5K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£185K12/220.02 mi6, Caelum Drive, Colchester, Essex CO2 8FP2
£176.5K06/230.04 mi3, Caelum Drive, Colchester, Essex CO2 8FN2
£180K02/210.04 mi37 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£205K05/230.04 mi65 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£147K03/210.04 mi71 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£157.5K11/200.08 mi3, Meachen Road, Colchester, Essex CO2 8JD2
£130K04/230.08 mi45, Meachen Road, Colchester, Essex CO2 8JD2
£173K12/200.12 mi9, Meachen Road, Colchester, Essex CO2 8JD2
£170K06/230.19 mi343, Quayside Drive, Colchester, Essex CO2 8GT2
£162K06/230.24 miFlat 9, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K01/210.24 miFlat 15, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K03/210.24 miFlat 8, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£182K01/230.27 mi114, Albany Gardens, Colchester, Essex CO2 8HU2
£202.5K01/210.29 mi9, Waterside Lane, Colchester, Essex CO2 8HW2
£178K03/230.29 mi13, Waterside Lane, Colchester, Essex CO2 8HW2
£177K07/230.31 mi161, Albany Gardens, Colchester, Essex CO2 8HQ2
£120K01/210.35 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£165K06/230.36 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£182K07/230.39 mi4, Tarrett Drive, Colchester, Essex CO1 2NJ2
£140K03/210.4 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£140K03/210.4 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£165K05/210.4 mi156, Hythe Hill, Colchester, Essex CO1 2NG2
£268K10/210.41 mi25, Hythe Hill, Colchester, Essex CO1 2NB2
£194K10/200.6 mi7, Sadler Close, Colchester, Essex CO2 7LU2
£175K06/210.6 mi13, Sadler Close, Colchester, Essex CO2 7LU2
£170K07/210.6 mi2, Sadler Close, Colchester, Essex CO2 7LU2
£162K05/210.64 mi12, Saw Mill Road, Colchester, Essex CO1 2ZQ2
£165K06/210.69 miFlat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG2
£165K05/230.7 mi20, Dewberry Close, Colchester, Essex CO4 3RT2
£148K06/230.71 mi7, Alyssum Walk, Colchester, Essex CO4 3RW2
£142K11/200.71 mi16, Dorchester End, Colchester, Essex CO2 8AR2
£130K12/200.72 mi28, Dorchester End, Colchester, Essex CO2 8AR2
£155K02/210.74 mi30, Steed Crescent, Colchester, Essex CO2 7SJ2
£150K01/210.76 mi141, George Williams Way, Colchester, Essex CO1 2JR2
£176K07/230.76 mi139, George Williams Way, Colchester, Essex CO1 2JR2
£171K12/220.76 mi191, George Williams Way, Colchester, Essex CO1 2JR2
£150K02/230.76 mi18, Siena Mews, Colchester, Essex CO2 8YB2
£140K08/230.76 mi12, Flanders Field, Colchester, Essex CO2 8BX2
£125K06/230.76 mi36, Flanders Field, Colchester, Essex CO2 8BX2
£161K08/210.76 mi78, George Williams Way, Colchester, Essex CO1 2JZ2
£146.5K01/210.76 mi42, George Williams Way, Colchester, Essex CO1 2JZ2
£150K06/210.76 mi24, George Williams Way, Colchester, Essex CO1 2JZ2
£158.5K01/210.77 mi6, Siena Mews, Colchester, Essex CO2 8YB2
£150K03/210.77 mi45, Viceroy Close, Colchester, Essex CO2 8BQ2
£150.5K12/220.77 mi43, Viceroy Close, Colchester, Essex CO2 8BQ2
£146K01/210.78 miFlat 11, Dedham Court, Stalin Road, Colchester, Essex CO2 8SN2
£160K10/210.78 mi54a, Barrington Road, Colchester, Essex CO2 7RW2
£242K06/210.81 mi132, Magnolia Drive, Colchester, Essex CO4 3LX2
£245K05/210.82 miFlat 25, The Mill Apartments, East Street, Colchester, Essex CO1 2QT2
£163.5K10/200.82 mi9, Cooper Walk, Colchester, Essex CO4 3RU2

Local Rents

50 rents from £950/mo to £1.4K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,20012/240 miShip Wharf, Colchester, Essex, CO22
£1,25012/240 miCaelum, Colchester, Essex, CO22
£1,20012/240 miShip Wharf, Colchester, Essex, CO22
£1,25012/240 miKeel Point, Colchester2
£1,25012/240 miKeel Point, Hawkins Road2
£1,30012/240 miKeel Point, Hawkins Road2
£1,25012/240 miKeel Point, Ship Wharf2
£1,25012/240 miCaelum Drive, Colchester, Essex, CO22
£1,39512/240.01 miKeel Point, Ship Wharf, Hythe2
£1,20012/240.02 miCaelum Drive, Colchester, Essex, CO22
£1,20001/250.03 mi-2
£1,17512/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,12512/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,30012/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,20012/240.04 miCaelum Drive, Colchester2
£1,20012/240.04 miCaelum Drive, Colchester2
£1,20012/240.04 miCaelum Drive, Colchester2
£1,12512/240.04 miCaelum Drive, Colchester, Essex, CO22
£1,19512/240.04 miCaelum Drive, Hythe, Colchester2
£1,15012/240.04 miShip Wharf, Colchester, Essex, CO22
£1,30012/240.04 miSail House , Colchester2
£1,25012/240.04 miSail House, Colchester2
£1,25012/240.04 miSail House, Colchester2
£1,45012/240.04 miSail House, Ship Wharf2
£1,30012/240.04 miShip Wharf, Hawkins Road, Hythe2
£1,17512/240.04 miShip Wharf, Colchester, Essex, CO22
£1,20012/240.04 miSail House, Ship Wharf2
£1,17512/240.05 mi-2
£1,25012/240.06 miHawkins Road, Colchester, Essex, CO22
£1,12512/240.06 miHawkins Road, Colchester, Essex, CO22
£1,25012/240.06 miHawkins Road, Colchester, Essex, CO22
£1,25012/240.06 miHeia Wharf, Hawkins Road2
£95001/250.07 mi-2
£1,30012/240.07 mi-2
£1,25012/240.07 mi-2
£1,15012/240.07 miMaria Court, Hesper Road, Colchester, Essex, CO22
£99512/240.07 miHesper Road, Maria Court2
£1,20012/240.07 miHesper Road, Hythe2
£1,20012/240.08 miHeia Wharf, Hawkins Road, Hythe2
£1,05012/240.08 miMeachen Road, Colchester, Essex2
£1,25012/240.09 miHeia Wharf, Hawkins Road , Colchester2
£1,20012/240.1 miMaponite Buildings, Hawkins Road, Colchester, Essex, CO22
£1,20004/250.13 mi-2
£1,20012/240.13 miSpiritus House, Hawkins Road, Colchester2
£1,25012/240.13 miHardies Point, Hawkins Road, Colchester2
£1,15012/240.14 miHardies Point2
£1,20012/240.14 miHardie's Point, Colchester, Essex, CO22

Local Area Statistics

Population in CO2

33,440

Population in Colchester

214,734

Town centre distance

1.78 miles away

Nearest school

0.30 miles away

Nearest train station

0.28 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+63%

Sales demand

Balanced market

Capital growth (5yrs)

+27%

Property History

Listed for £160,000

May 17, 2024

Description

  • TWO BEDROOMS +
  • TWO BATHROOMS +
  • OPEN PLAN LIVING +
  • KITCHEN +
  • LOUNGE +
  • ENSUITE TO MASTER +
  • FAMILY BATHROOM +
  • ALLOCATED PARKING +
  • CLOSE TO THE UNIVERSITY +
  • INVESTMENT ONLY +

OVERVIEW *GUIDE PRICE OF £160,000 - £170,000*
INVESTMENT OPPORTUNITY

A beautifully positioned first floor, two double bedroom apartment with an en-suite to the master bedroom overlooking the River Colne. Benefits include open plan living with a fitted kitchen. The current tenants are paying £1200pcm. 

AGENTS NOTE Service Charge £2,000 - £2,500
Ground Rent (£PA) £350
Leasehold (113 Years)

Agent Details

John Alexander, Colchester

01206 586126

Next Steps?

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