2 Bed Flat, Single Let, Norwich, NR8 5AU, £140,000

Tower Close, Old Costessey, NR8 5AU - 1 views - 8 months ago

Under Offer
Leasehold
BTL
ROI: 7%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£120K - £395K
Sold Prices/m²£1.8K/m² - £26.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£172,200
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£8,200

Total Cash In

£43,200

 

 

Cash Out

 

Rent Range

£850 - £1,200

Rent Estimate

£895

Running Costs/mo

£637

Cashflow/mo

£259

Cashflow/yr

£3,102

ROI

7%

Gross Yield

8%

Local Sold Prices

48 sold prices from £120K to £395K, average is £145.5K. £1.8K/m² to £26.6K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£150K03/240.01 mi21, Tower Close, Costessey, Norwich, Norfolk NR8 5AU2
£130K02/210.1 mi61, Tower Close, Costessey, Norwich, Norfolk NR8 5AY2
£128K04/210.1 mi85, Tower Close, Costessey, Norwich, Norfolk NR8 5AY2
£135K11/210.47 mi14, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£122K03/210.47 mi12, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£126.5K06/210.47 mi4, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£125K07/210.47 mi10, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£142.5K08/210.49 mi1, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£131K12/220.49 mi7, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£187K01/230.5 mi19, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£147.5K05/210.5 mi35, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FD2
£163K07/220.51 mi21, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FD2
£145K01/210.52 mi40, Redpoll Road, Costessey, Norwich, Norfolk NR8 5FZ2
£120K04/210.53 miFlat 1, Dunnock Court, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FG2
£130K05/210.53 miFlat 12, Dunnock Court, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FG2
£135K04/210.54 mi58, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£180K01/240.54 mi13, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FF2
£133.5K11/210.55 mi72, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£135K04/210.55 mi58, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£143K11/220.55 mi64, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£185K10/230.55 mi15, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£165K08/220.55 mi76, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£120K01/210.55 mi68, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£130K05/210.57 miFlat 11, Woodpecker Court, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FE2
£160K02/230.57 mi42, Poethlyn Drive, Costessey, Norwich, Norfolk NR8 5ET2
£145K11/200.58 miFlat 13, Woodpecker Court, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FE2
£145K05/230.58 mi4, Sir Alfred Munnings Road, Costessey, Norwich, Norfolk NR8 5EE2
£146K09/210.58 mi2, Sir Alfred Munnings Road, Costessey, Norwich, Norfolk NR8 5EE2
£148K09/220.59 mi75, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£145K08/220.59 mi73, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£156.1K04/230.62 mi27, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£147K07/220.62 mi37, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£150K12/220.62 mi79, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£151K07/240.62 mi87, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£175K06/220.66 mi35, Coronach Close, Costessey, Norwich, Norfolk NR8 5EZ2
£163K12/220.7 miFlat 25, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£152K08/240.7 miCheena Court, Flat 22, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£122.5K03/210.7 miFlat 22, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£150K06/230.7 miFlat 19, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£155K06/220.7 miFlat 29, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£150K06/210.72 miFlat 6, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£155K06/230.77 mi61, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£124K04/210.77 mi65, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£136K05/230.77 mi55, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£152K08/210.92 mi17, Dr Torrens Way, New Costessey, Norwich, Norfolk NR5 0GB2
£175K04/220.93 mi17, Badger Road, Costessey, Norwich, Norfolk NR5 0UN2
£145K04/210.94 mi152, Fairway, Costessey, Norwich, Norfolk NR8 5GB2
£395K10/210.99 mi150, The Street, Costessey, Norwich, Norfolk NR8 5DG2

Local Rents

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

RentDateDistanceAddressBeds 
£1,00012/240.41 miFalcon Crescent, Costessey, NR82
£90006/240.43 miFalcon Crescent, Costessey, Norwich2
£1,20004/250.47 mi-2
£1,20003/250.51 mi-2
£90006/240.52 miRedpoll Road, Costessey2
£89512/240.57 miWoodpecker Way, Queens Hill2
£89512/240.57 miNightingale Mews, Norwich2
£92512/240.57 mi-2
£85006/240.58 miWoodpecker Court, Woodpecker Way, Costessey2
£89512/240.58 miQueens Hills2

Local Area Statistics

Population in NR8

20,321

Population in Norwich

366,887

Town centre distance

4.27 miles away

Nearest school

0.50 miles away

Nearest train station

5.22 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+17%

Property History

Listed for £140,000

September 4, 2024

Floor Plans

Description

  • No Onward Chain +
  • Newly Renovated First Floor Flat +
  • 2 Bedrooms +
  • Fitted Kitchen & Bathroom +
  • Private Rear Garden ( Shared With The Ground Floor Flat ) +
  • 15" Lounge/Diner +
  • UPVC Double Glazing & Gas Central Heating +
  • Unrestricted On Street Parking +
  • Guide £140,000 - £150,000 +

Summary
*NO ONWARD CHAIN* On this 2 bedroom NEWLY RENOVATED first floor APARTMENT situated down a cul-de-sac in the popular village of OLD COSTESSEY west of Norwich*** Entrance Hall
Doors to all rooms and cupboards, loft access hatch, radiator, carpet. Kitchen 10.6" x 10.3"
Double glazed window to the front aspect, a range of fitted wall and base units with work surface over, two storage cupboards, stainless steel sink, space for a fridge/freezer and washing machine, integrated electric oven with hob and extractor fan over, vinyl flooring, radiator. Lounge/Diner 15.1" x 11.10"
Double glazed window to the front aspect, laminate flooring, radiator. Bathroom 6.3" x 6.2"
Double glazed window to the side aspect, shower over panel bath, had wash basin, WC, heated towel rail, vinyl flooring, extractor fan. Bedroom 1 12.2" x 11.10"
Double glazed window to the rear aspect, integrated wardrobe, radiator, laminate flooring. Bedroom 2 8.7" x 8.6"
Double glazed window to the rear aspect, integrated wardrobe, radiator, laminate flooring. Parking
Unrestricted on street parking.

Agent Details

Russen & Hill Estate Agents, Costessey

01603 361593

Next Steps?

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