2 Bed Flat, Single Let, Norwich, NR8 5EH, £135,000

56 MAGNOLIA WAY, COSTESSEY, NR8 5EH - 4 views - 7 months ago

Sold STC
Leasehold
BTL
ROI: 8%
51 m²
+4 photos

ValuationFair Value

Sold Prices£120K - £187K
Sold Prices/m²£1.8K/m² - £3.3K/m²

 

 

Square Metres

51.40 m²
Price/m²£2.6K/m²

Value Estimate

£134,635

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£5,250

Total Cash In

£39,000

 

 

Cash Out

 

Rent Range

£850 - £1,200

Rent Estimate

£869

Running Costs/mo

£616

Cashflow/mo

£253

Cashflow/yr

£3,036

ROI

8%

Gross Yield

8%

Local Sold Prices

47 sold prices from £120K to £187K, average is £145K. £1.8K/m² to £3.3K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£148K09/220.02 mi75, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£145K08/220.03 mi73, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£135K04/210.03 mi58, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£145K05/230.05 mi4, Sir Alfred Munnings Road, Costessey, Norwich, Norfolk NR8 5EE2
£146K09/210.05 mi2, Sir Alfred Munnings Road, Costessey, Norwich, Norfolk NR8 5EE2
£133.5K11/210.05 mi72, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£135K04/210.05 mi58, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£143K11/220.05 mi64, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£185K10/230.05 mi15, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£165K08/220.05 mi76, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£156.1K04/230.06 mi27, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£147K07/220.06 mi37, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£150K12/220.06 mi79, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£151K07/240.06 mi87, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£120K01/210.06 mi68, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£175K06/220.09 mi35, Coronach Close, Costessey, Norwich, Norfolk NR8 5EZ2
£163K12/220.21 miFlat 25, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£150K06/210.22 miFlat 6, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£130K10/200.22 miFlat 15, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£152K08/240.22 miCheena Court, Flat 22, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£122.5K03/210.22 miFlat 22, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£150K06/230.22 miFlat 19, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£155K06/220.22 miFlat 29, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£147K10/200.23 mi42, Poethlyn Drive, Costessey, Norwich, Norfolk NR8 5ET2
£160K02/230.23 mi42, Poethlyn Drive, Costessey, Norwich, Norfolk NR8 5ET2
£120K04/210.24 miFlat 1, Dunnock Court, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FG2
£130K05/210.24 miFlat 12, Dunnock Court, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FG2
£147.5K05/210.25 mi35, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FD2
£180K01/240.25 mi13, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FF2
£155K06/230.27 mi61, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£124K04/210.27 mi65, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£136K05/230.27 mi55, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£145K11/200.29 miFlat 13, Woodpecker Court, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FE2
£130K05/210.3 miFlat 11, Woodpecker Court, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FE2
£163K07/220.3 mi21, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FD2
£142.5K08/210.31 mi1, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£131K12/220.31 mi7, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£187K01/230.32 mi19, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£135K11/210.32 mi14, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£122K03/210.32 mi12, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£126.5K06/210.32 mi4, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£125K07/210.32 mi10, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£145K04/210.39 mi152, Fairway, Costessey, Norwich, Norfolk NR8 5GB2
£145K01/210.4 mi40, Redpoll Road, Costessey, Norwich, Norfolk NR8 5FZ2
£150K03/240.57 mi21, Tower Close, Costessey, Norwich, Norfolk NR8 5AU2
£128K04/210.63 mi85, Tower Close, Costessey, Norwich, Norfolk NR8 5AY2
£130K02/210.63 mi61, Tower Close, Costessey, Norwich, Norfolk NR8 5AY2

Local Rents

19 rents from £850/mo to £1.2K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£95012/240.06 miBahram Road, Costessey, NORWICH2
£89512/240.23 miQueens Hills2
£1,20006/240.23 miKestrel Avenue, Costessey2
£95012/240.24 miCheena Court, Costessey, Norwich2
£90006/240.25 miFalcon Crescent, Costessey, Norwich2
£87506/240.26 miNorwich2
£1,00012/240.27 miFalcon Crescent, Costessey, NR82
£1,20003/250.28 mi-2
£1,20003/250.29 mi-2
£85006/240.29 miWoodpecker Court, Woodpecker Way, Costessey2
£85012/240.31 miRon Hill Road, Norwich2
£89512/240.32 miWoodpecker Way, Queens Hill2
£89512/240.32 miNightingale Mews, Norwich2
£92512/240.32 mi-2
£1,10006/240.32 mi-2
£96003/250.33 mi-2
£90006/240.38 miFairway, Costessey, Norwich, Norfolk, NR82
£90012/240.38 miFairway, Costessey, Norwich, Norfolk, NR82
£90006/240.42 miRedpoll Road, Costessey2

Local Area Statistics

Population in NR8

20,321

Population in Norwich

366,887

Town centre distance

4.82 miles away

Nearest school

0.30 miles away

Nearest train station

5.76 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+17%

Property History

Listed for £135,000

August 27, 2024

Sold for £123,600

2008

Floor Plans

Description

  • Two Bedroom +
  • Ground Floor +
  • Parking Space +
  • Modern +
  • Fitted Kitchen +
  • Spacious Living Room +
  • Tucked Away +
  • Close A47 +

Welcome to Magnolia Way, Costessey - a charming location that could be the perfect setting for your new home! This delightful two-bedroom ground floor flat, built in 2008, offers a cosy retreat with its one reception room, ideal for relaxing or entertaining guests.

The property boasts allocated parking, a coveted feature that ensures convenience for residents. Perfect for those seeking ground floor living, this flat provides easy access and a secure environment, making it an attractive option for both investors and first-time buyers alike.

Situated in a popular location, this property offers excellent access to amenities, public transport, and is conveniently close to the A47, Hospital, and University. Its position on the edge of the development provides a sense of security and privacy, creating a peaceful sanctuary to call home.

Don't miss out on the opportunity to own a piece of this sought-after area in Costessey. Whether you're looking to invest or take your first step onto the property ladder, this ground floor flat could be the perfect choice for you. Book a viewing today and envision the possibilities that await in this lovely property on Magnolia Way.

Entrance Hall - Doors to all internal rooms.

Bedroom One - 4.19m'' x 2.51m'' (13'9'' x 8'3'') - Radiator and window to rear.

Bedroom Two - 2.59m'' x 2.26m'' (8'6'' x 7'5'') - Radiator and window to the rear.

Sitting Room - 4.45m'' x 4.27m (14'7'' x 14') - Radiator, opening to the kitchen and window to rear and side.

Kitchen - 2.54m'' x 2.44m (8'4'' x 8') - Fitted with base and wall units, stainless steel sink and drainer, oven and hob and window to side.

Family Bathroom - Fitted with a bath, low level W.C and wash hand basin, extractor and radiator.

Outside - The property has an allocated parking space

Agent Details

Think Property, Norwich

01603 361893

Next Steps?

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