2 Bed Flat, Single Let, Witney, OX28 6JB, £180,000

The Old Coachyard, Witney, Oxfordshire, OX28 6JB - 2 views - 9 months ago

Leasehold

BTL

ROI: 5%

~73 m²

+2 photos

ValuationUndervalued

Sold Prices	£84K - £252.3K
Sold Prices/m²	£1.2K/m² - £5.3K/m²

Square Metres	~73.11 m²
Price/m²	£2.5K/m²
Value Estimate	£225,000£225,000
BMV	25%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£45,000£45,000
Stamp Duty & Legal Fees	£10,200£10,200
Total Cash In	£55,200£55,200

Cash Out
Rent Range	£925 - £1,575£925 - £1,575
Rent Estimate	£1,000
Running Costs/mo	£783£783
Cashflow/mo	£218£218
Cashflow/yr	£2,610£2,610
ROI	5%5%
Gross Yield	7%7%

Local Sold Prices

29 sold prices from £84K to £252.3K, average is £198K. £1.2K/m² to £5.3K/m², average is £3.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£140K	08/21	0.09 mi	18, Riverside Gardens, Witney, Oxfordshire OX28 6DD	£2,222	63	2	Flat
£185K	11/20	0.09 mi	7, Riverside Gardens, Witney, Oxfordshire OX28 6DD	£2,891	64	2	Flat
£230K	07/21	0.11 mi	Flat 6, 4 Bridge Street Mills, Bridge Street, Witney, Oxfordshire OX28 1FX	-	-	2	Flat
£252.3K	03/21	0.11 mi	Flat 10, 4 Bridge Street Mills, Bridge Street, Witney, Oxfordshire OX28 1FX	-	-	2	Flat
£184K	05/21	0.12 mi	1, Windrush Quay, Witney, Oxfordshire OX28 1YL	£2,115	87	2	Flat
£227.5K	06/21	0.12 mi	7, Windrush Quay, Witney, Oxfordshire OX28 1YL	£3,016	75	2	Flat
£195K	08/23	0.13 mi	20, Waine Rush View, Witney, Oxfordshire OX28 4WX	£3,222	61	2	Flat
£210K	05/23	0.14 mi	17, Priory Mill Lane, Witney, Oxfordshire OX28 1YG	£3,246	65	2	Flat
£220K	10/22	0.14 mi	2, Windrush Quay, Witney, Oxfordshire OX28 1YL	£3,385	65	2	Flat
£117.5K	12/22	0.14 mi	45, Priory Mill Lane, Witney, Oxfordshire OX28 1YG	£1,734	68	2	Flat
£175K	06/21	0.15 mi	16, Marriotts Walk, Witney, Oxfordshire OX28 6GX	£2,713	65	2	Flat
£210.9K	12/22	0.15 mi	25, Marriotts Walk, Witney, Oxfordshire OX28 6GX	£3,979	53	2	Flat
£195K	06/23	0.18 mi	23, New Bridge Street, Witney, Oxfordshire OX28 1YA	-	-	2	Flat
£225K	11/22	0.2 mi	6, Mead Lane, Witney, Oxfordshire OX28 1YD	£4,104	55	2	Flat
£170K	12/20	0.25 mi	17, Dark Lane, Witney, Oxfordshire OX28 6LE	£2,742	62	2	Flat
£180K	11/20	0.25 mi	21, Dark Lane, Witney, Oxfordshire OX28 6LE	£2,951	61	2	Flat
£193K	12/20	0.28 mi	41, Bathing Place Court, Witney, Oxfordshire OX28 6FR	£3,509	55	2	Flat
£210K	11/21	0.51 mi	216, Corn Street, Witney, Oxfordshire OX28 6DA	£3,231	65	2	Flat
£220K	12/22	0.52 mi	220, Corn Street, Witney, Oxfordshire OX28 6DA	£5,344	41	2	Flat
£84K	10/22	0.66 mi	30, Wilkinson Place, Witney, Oxfordshire OX28 6JT	£1,183	71	2	Flat
£215K	10/20	0.66 mi	12, Wilkinson Place, Witney, Oxfordshire OX28 6JT	£2,829	76	2	Flat
£104.7K	01/21	0.66 mi	24, Wilkinson Place, Witney, Oxfordshire OX28 6JT	£1,689	62	2	Flat
£252K	11/21	0.72 mi	Flat 59, Fernleigh, Buttercross Lane, Witney, Oxfordshire OX28 4DZ	-	-	2	Flat
£220K	12/22	0.82 mi	11, Grey Lane, Witney, Oxfordshire OX28 1FN	£3,841	57	2	Flat
£198K	09/22	0.86 mi	14a, Beechgate, Witney, Oxfordshire OX28 4JL	-	-	2	Flat
£180K	06/21	0.86 mi	41, Beechgate, Witney, Oxfordshire OX28 4JL	£3,520	51	2	Flat
£200K	11/21	0.86 mi	38, Beechgate, Witney, Oxfordshire OX28 4JL	£3,175	63	2	Flat
£161K	11/21	0.86 mi	22, Beechgate, Witney, Oxfordshire OX28 4JL	£2,981	54	2	Flat
£232.5K	07/23	1 mi	51, Painswick Close, Witney, Oxfordshire OX28 5FX	£4,749	49	2	Flat

Local Rents

50 rents from £925/mo to £1.6K/mo, average is £1.2K/mo.

Rent	Date	Distance	Address	Beds	Type
£925	08/24	0.07 mi	High Street, Witney, Oxfordshire, OX28	2	Flat
£1,100	06/24	0.08 mi	Central Witney	2	Terraced House
£1,200	06/24	0.08 mi	High Street, Witney	2	Flat
£1,135	07/24	0.08 mi	33 Ashcombe Crescent, Witney, Oxfordshire	2	Flat
£1,090	08/24	0.08 mi	33 Ashcombe Crescent, Witney, Oxfordshire	2	Flat
£1,070	08/24	0.08 mi	33 Ashcombe Crescent, Witney, Oxfordshire	2	Flat
£1,070	09/24	0.08 mi	33 Ashcombe Crescent, Witney, Oxfordshire	2	Flat
£1,070	09/24	0.08 mi	33 Ashcombe Crescent, Witney, Oxfordshire	2	Flat
£1,150	06/24	0.08 mi	Worley Walk, High Street, Witney, OX28	2	Flat
£1,050	06/24	0.12 mi	Marriotts Walk, Witney	2	Flat
£1,200	10/24	0.13 mi	-	2	Flat
£1,400	06/24	0.16 mi	Mill Street, Witney, OX28	2	Flat
£1,300	08/24	0.17 mi	Tower Hill, Witney, OX28	2	Flat
£1,200	07/24	0.17 mi	Woodford Way, Witney, Oxfordshire, OX28	2	Flat
£1,150	07/24	0.17 mi	Woodford Way, Witney, Oxfordshire, OX28	2	Flat
£1,295	09/24	0.18 mi	Welch Way, Witney	2	Flat
£1,200	07/24	0.18 mi	New Bridge Street, Witney, OX28	2	Flat
£1,300	07/24	0.19 mi	Marsh Walk, Witney	2	Flat
£1,200	08/24	0.19 mi	Woodford Mill, Witney	2	Flat
£1,200	07/24	0.2 mi	Mead Lane, Witney	2	Flat
£1,000	02/24	0.2 mi	-	2	Flat
£1,155	07/24	0.21 mi	New Bridge Street, Witney, Oxfordshire	2	Flat
£1,155	07/24	0.21 mi	New Bridge Street, Witney, Oxfordshire	2	Flat
£1,155	07/24	0.21 mi	New Bridge Street, Witney, Oxfordshire	2	Flat
£1,200	08/24	0.21 mi	Mead Lane, Witney, Oxfordshire	2	Flat
£1,200	08/24	0.21 mi	Mead Lane, Witney, Oxfordshire	2	Flat
£1,200	06/24	0.24 mi	High Street, Witney, OX28	2	Flat
£1,400	07/24	0.25 mi	West End, Witney, OX28	2	Terraced House
£1,250	07/24	0.26 mi	Market Square, 8B Market Square, Witney	2	Flat
£1,400	06/24	0.27 mi	Admiral Court, Witney	2	Flat
£1,575	06/24	0.27 mi	Admiral Court, Witney	2	Flat
£1,350	09/24	0.27 mi	Admiral Court, Dark Lane, Witney	2	Flat
£1,200	06/24	0.27 mi	West End, Witney, OX28 1NJ	2	Terraced House
£1,200	07/24	0.28 mi	Bathing Place Court, Witney	2	Flat
£1,275	06/24	0.28 mi	-	2	Flat
£1,300	04/25	0.28 mi	-	2	Flat
£1,400	08/24	0.29 mi	Woodgreen, Witney, Oxfordshire, OX28	2	Semi-Detached House
£1,250	09/24	0.32 mi	Meadow Lane, Witney	2	Flat
£1,325	08/24	0.33 mi	Stenter Lane, Witney, Oxfordshire	2	Semi-Detached House
£1,300	06/24	0.34 mi	Stenter Lane, Witney, OX28	2	Flat
£1,200	06/24	0.34 mi	Bathing Place Lane, Witney	2	Terraced House
£1,200	06/24	0.34 mi	Bathing Place Lane, Witney	2	Terraced House
£1,200	07/24	0.34 mi	Bathing Place Lane, Witney	2	Terraced House
£1,200	08/24	0.34 mi	Bathing Place Lane, Witney	2	Terraced House
£1,200	08/24	0.34 mi	Bathing Place Lane, Witney	2	Terraced House
£1,200	09/24	0.34 mi	Bathing Place Lane, Witney	2	Terraced House
£1,400	07/24	0.35 mi	Stenter Mews, Witney	2	Flat
£1,350	08/24	0.35 mi	Stenter Mews, Witney	2	Flat
£1,250	09/24	0.36 mi	Langdale Gate, Witney, Oxfordshire, OX28	2	Flat
£1,000	06/24	0.37 mi	Corn Street, Witney	2	Flat

Local Area Statistics

Population in OX28	27,57627,576
Population in Witney	50,63250,632
Town centre distance	0.21 miles away0.21 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	4.51 miles away4.51 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-2%-2%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+7%+7%

Property History

Price changed to £180,000

January 23, 2025

Listed for £199,950

July 10, 2024

Floor Plans

Description

Spacious Sitting Room +
2 Bedrooms +
1 Bathroom +
Close to Witney Town Centre +
Service charge around £703 per annum +
Long Lease with 152 years remaining +
New roof required in next few years with estimated contribution of around £18,000 for this flat +

A Two Bedroom spacious First Floor Flat comprising Living Room, Kitchen and allocated parking in the Popular Market Town of Witney. No Onward Chain.
The Lease has been extended to 24 March 2176. Expected reroofing and associated roofline works for Block A to take place in next 4-5 years with an annual contribution by all flat owners. The estimated cost for this for this flat is approximately £18,000.
Service charge in the sum of £703 (approx.) is payable for the period 1 April 2024 to 30 September 2024 and there is a Reserve fund for the period 1 April 2024 to 30 September 2024 in the sum of £238 (approx.).
Witney is a Popular Market Town in the Cotswolds the property is within easy walking distance from the town centre with a variety of shops including coffee shops and restaurants and local cinema with easy connections to Oxford and London. Witney also benefits from primary and secondary schools and pre-school nurseries

Agent Details

Lee Chadwick, Witney

01993 225897

Next Steps?

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