2 Bed Flat, Single Let, Norwich, NR6 7HS, £150,000

The Paddocks, Old Catton, NR6 7HS - 9 months ago

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Leasehold

BTL

ROI: 6%

~68 m²

+3 photos

ValuationUndervalued

Sold Prices	£128K - £175K
Sold Prices/m²	£1.8K/m² - £3.5K/m²

Square Metres	~68.11 m²
Price/m²	£2.2K/m²
Value Estimate	£180,000£180,000
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£37,500£37,500
Stamp Duty & Legal Fees	£8,700£8,700
Total Cash In	£46,200£46,200

Cash Out
Rent Range	£795 - £1,200£795 - £1,200
Rent Estimate	£895
Running Costs/mo	£668£668
Cashflow/mo	£227£227
Cashflow/yr	£2,727£2,727
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

21 sold prices from £128K to £175K, average is £150K. £1.8K/m² to £3.5K/m², average is £2.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£155K	11/22	0 mi	275, The Paddocks, Norwich, Norfolk NR6 7HS	£2,823	55	2	Flat
£140K	04/21	0 mi	231, The Paddocks, Norwich, Norfolk NR6 7HS	£2,692	52	2	Flat
£138K	02/21	0.12 mi	39, Edgefield Close, Norwich, Norfolk NR6 7HP	£2,654	52	2	Flat
£145K	05/21	0.12 mi	131, The Paddocks, Norwich, Norfolk NR6 7HR	£2,788	52	2	Flat
£156K	11/22	0.13 mi	155, The Paddocks, Norwich, Norfolk NR6 7HR	£3,059	51	2	Flat
£160K	11/22	0.14 mi	7, Dunwood Drive, Norwich, Norfolk NR6 7JS	£2,667	60	2	Flat
£134K	07/21	0.2 mi	120, Desmond Drive, Norwich, Norfolk NR6 7JW	£3,526	38	2	Flat
£135K	10/20	0.77 mi	15, Defiant Road, Norwich, Norfolk NR6 6HH	-	-	2	Flat
£167K	09/22	0.77 mi	28, Defiant Road, Norwich, Norfolk NR6 6HH	£3,281	51	2	Flat
£130K	12/22	0.77 mi	16, Defiant Road, Norwich, Norfolk NR6 6HH	£3,095	42	2	Flat
£128K	12/20	0.79 mi	3, Church View Court, Norwich, Norfolk NR7 8QD	£2,977	43	2	Flat
£160K	06/22	0.94 mi	20, Rosebay Close, Norwich, Norfolk NR6 6DX	-	-	2	Flat
£150K	06/21	0.94 mi	1, Rosebay Close, Norwich, Norfolk NR6 6DX	£2,542	59	2	Flat
£128.5K	12/20	0.94 mi	18, Rosebay Close, Norwich, Norfolk NR6 6DX	£1,760	73	2	Flat
£160K	10/22	0.96 mi	29, Whitworth Court, Norwich, Norfolk NR6 6GN	£3,155	51	2	Flat
£155K	09/21	0.96 mi	10, Whitworth Court, Norwich, Norfolk NR6 6GN	£2,672	58	2	Flat
£175K	02/23	0.96 mi	28, Whitworth Court, Norwich, Norfolk NR6 6GN	£3,431	51	2	Flat
£160K	09/22	0.96 mi	30, Whitworth Court, Norwich, Norfolk NR6 6GN	£3,200	50	2	Flat
£170K	09/21	0.96 mi	3, Whitworth Court, Norwich, Norfolk NR6 6GN	-	-	2	Flat
£133K	06/21	0.96 mi	26, Whitworth Court, Norwich, Norfolk NR6 6GN	-	-	2	Flat
£145K	04/23	0.99 mi	168, Ives Road, Norwich, Norfolk NR6 6DL	-	-	2	Flat

Local Rents

15 rents from £795/mo to £1.2K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£950	06/24	0.3 mi	-	2	Terraced House
£1,050	03/24	0.35 mi	Catton, North Of The City	2	Terraced House
£895	06/24	0.39 mi	St Faiths Lane, Old Catton, NR6	2	Terraced House
£1,200	12/24	0.46 mi	-	2	Terraced House
£895	06/24	0.6 mi	Wilks Farm Drive, Sprowston, Norwich, NR7	2	Flat
£950	03/24	0.6 mi	Wilks Farm Drive,Sprowston,Norwich,NR7	2	Semi-Detached House
£1,100	06/24	0.74 mi	NR6	2	Detached House
£925	06/24	0.79 mi	Church View Court, NORWICH	2	Flat
£1,200	12/24	0.81 mi	Pennyroyal, Norwich, NR6	2	Semi-Detached House
£795	12/24	1.11 mi	Neville Road, Norwich, Norfolk, NR7	2	Bungalow
£925	12/24	1.18 mi	-	2	Flat
£950	06/24	1.19 mi	-	2	Flat
£950	10/24	1.19 mi	-	2	Flat
£925	06/24	1.19 mi	School Lane, NR7 8TR	2	Flat
£1,200	06/24	1.22 mi	Denton Road, Norwich	2	Detached House

Local Area Statistics

Population in NR6	24,17324,173
Population in Norwich	366,887366,887
Town centre distance	2.14 miles away2.14 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	2.96 miles away2.96 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+6%+6%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+19%+19%

Property History

Price changed to £150,000

March 16, 2025

Listed for £155,000

June 13, 2024

Floor Plans

Description

Top Floor Modern Apartment +
Field Views +
Entrance Hall +
Lounge +
Kitchen +
Two Bedrooms +
Bathroom +
Parking +

Property Summary
* Be quick to view this TWO BEDROOM FIRST FLOOR FLAT in the popular suburb of Old Catton. The property has entrance hall, lounge, kitchen, bathroom, parking and VIEWS OVER OPEN FIELDS * Entrance Hall 8'9 x 6'10
Wood effect flooring, radiator, doors to all rooms Bedroom 9'6 x 7'9
Double glazed window to front, radiator Bedroom 12'7 x 10'10
Double glazed bay window to front, radiator Bathroom 6'8 x 5'8
Bath with shower attachment, WC, wash basin, radiator Lounge 15'3 x 10'8
Double glazed window to rear with field views, radiator Kitchen 10'9 x 7'6
Double glazed window and door to rear with views over open fields, fitted range of wall and base units with work tops over, sink and drainer, fitted oven and hob, space for appliances Outside
The property has an allocated parking space

Agent Details

Russen & Hill Estate Agents, Costessey

01603 361593

Next Steps?

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

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