2 Bed Flat, Cash/Bridging Only, Derby, DE1 1NU, £100,000

Friar Gate, Derby, DE1 1NU - 4 views - 6 months ago

Leasehold
Cash
ROI: 13%
~68 m²
+8 photos

ValuationFair Value

Sold Prices£30K - £162.5K
Sold Prices/m²£545/m² - £2.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£101,000

 

 

End Value (After Refurb)

£118,798

Uplift in Value

+19%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£27,537

Bridging Loan Interest

£2,625

Total Cash In

£61,112

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£118,798

Mortgage (After Refinance)

£89,099

Mortgage LTV

75%

Cash Released

£14,099

Cash Left In

£47,014

Equity

£29,700

Rent Range

£498 - £2,600

Rent Estimate

£1,329

Running Costs/mo

£657

Cashflow/mo

£672

Cashflow/yr

£8,064

ROI

13%

Gross Yield

16%

Local Sold Prices

49 sold prices from £30K to £162.5K, average is £109.5K. £545/m² to £2.9K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£140K03/230.07 miFirst Floor Flat, 3, Friary Street, Derby, City Of Derby DE1 1JF2
£48K09/210.23 miFlat 27, Great Northern Point, Great Northern Road, Derby, City Of Derby DE1 1LZ2
£85K06/210.23 miFlat 5, Great Northern Point, Great Northern Road, Derby, City Of Derby DE1 1LZ2
£127.5K07/210.25 miApartment 2, Westpoint, Brook Street, Derby, City Of Derby DE1 3TE2
£42.5K09/220.27 miFlat 5, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£111K07/220.27 miFlat 41, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£143K12/220.27 mi100, Bridge Street, Derby, City Of Derby DE1 3LF2
£38K04/230.28 miFlat 31, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£84.5K09/200.28 miFlat 39, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£85K10/210.35 mi12, Nuns Street, Derby, City Of Derby DE1 3LL2
£90K07/220.37 miFlat 14, Swinscoe House, Rosengrave Street, Derby, City Of Derby DE1 1PS2
£42K11/220.41 miFlat 33, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£60K12/200.41 miFlat 32, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£37K02/210.41 miFlat 35, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£78.5K08/210.42 mi94, Gerard Street, Derby, City Of Derby DE1 1PH2
£87.5K11/200.42 mi114, Gerard Street, Derby, City Of Derby DE1 1PH2
£85K09/200.47 mi5, St Annes Close, Derby, City Of Derby DE1 3NE2
£136K06/210.47 mi103, Parliament Street, Derby, City Of Derby DE22 3RL2
£114K01/230.5 miApartment 1, Waterside House, Duke Street, Derby, City Of Derby DE1 3BA2
£61.5K03/210.51 miFlat 112, Rivermead House, Bath Street, Derby, City Of Derby DE1 3BT2
£116.5K09/200.53 mi5, City Walk, Derby, City Of Derby DE1 3QD2
£127.5K11/200.53 mi22, City Walk, Derby, City Of Derby DE1 3QD2
£116K05/210.53 mi27, City Walk, Derby, City Of Derby DE1 3QD2
£124K03/210.55 mi53, Farm Street, Derby, City Of Derby DE22 3UJ2
£150K10/200.64 mi18, Castleward Boulevard, Derby, City Of Derby DE1 2LQ2
£130K08/210.72 mi4, Salisbury Street, Derby, City Of Derby DE23 6SL2
£92.5K08/210.73 mi3, Jackdaw Close, Derby, City Of Derby DE22 3SY2
£85K09/200.76 mi42, Cobden Street, Derby, City Of Derby DE22 3GZ2
£135K09/220.77 mi34, Kniveton Close, Derby, City Of Derby DE22 3BB2
£109K10/220.78 miFlat 52, Mill Point, Rowditch Place, Derby, City Of Derby DE22 3LR2
£94K08/210.78 miFlat 6, Mill Point, Rowditch Place, Derby, City Of Derby DE22 3LR2
£155K03/230.85 miFlat 9, Nightingale Mews, Calvert Street, Derby, City Of Derby DE1 2RT2
£162.5K04/210.87 miApartment 13, Wheeldon Manor, Wheeldon Avenue, Derby, City Of Derby DE22 1HY2
£135K08/220.9 mi41, Auriga Court, Derby, City Of Derby DE1 3RH2
£90K01/230.93 mi124, Northumberland Street, Derby, City Of Derby DE23 6UA2
£125K12/200.94 mi98b, St Chads Road, Derby, City Of Derby DE23 6RP2
£124.5K06/230.94 mi23, Magnus Court, Derby, City Of Derby DE21 4TQ2
£109K03/220.94 mi15, Magnus Court, Derby, City Of Derby DE21 4TQ2
£138K01/230.94 mi33, Magnus Court, Derby, City Of Derby DE21 4TQ2
£121.3K01/220.95 mi11, Magnus Court, Derby, City Of Derby DE21 4TQ2
£117K08/210.95 mi37, Magnus Court, Derby, City Of Derby DE21 4TQ2
£109.5K03/210.95 mi23, Magnus Court, Derby, City Of Derby DE21 4TQ2
£117.5K05/220.95 mi41, Magnus Court, Derby, City Of Derby DE21 4TQ2
£117K08/210.95 mi37, Magnus Court, Derby, City Of Derby DE21 4TQ2
£125K07/220.95 mi31, Magnus Court, Derby, City Of Derby DE21 4TQ2
£92K11/210.96 mi19, Bloomfield Close, Derby, City Of Derby DE1 2FY2
£30K02/210.98 mi80, Magnus Court, Derby, City Of Derby DE21 4TR2
£30K02/220.98 mi80, Magnus Court, Derby, City Of Derby DE21 4TR2
£102.5K10/200.99 mi33, Magnus Court, Derby, City Of Derby DE21 4TQ2

Local Rents

51 rents from £498/mo to £2.6K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£95003/240.02 miNorman House, Derby2
£49803/240.02 miStudent Property 24-252
£1,10003/240.03 miBurleigh Mews, Friar Gate, Derby DE1 1EX2
£85012/240.04 mi-2
£85012/240.04 mi-2
£85002/250.04 mi-2
£89503/240.06 miBurleigh Mews, Stafford Street, Derby, Derbyshire, DE1 1JG2
£2,60005/240.06 mi-2
£2,40012/240.06 mi-2
£2,60003/250.06 mi-2
£89503/240.07 miBurleigh Mews, Stafford Street, Derby, DE1 1JG2
£2,00003/250.07 mi-2
£2,00003/250.07 mi-2
£2,00003/250.07 mi-2
£2,00003/250.07 mi-2
£1,30001/250.09 mi-2
£2,50012/240.09 mi-2
£1,30012/240.09 mi-2
£1,20001/250.09 mi-2
£2,00002/250.1 mi-2
£1,30012/240.1 mi-2
£80003/240.11 miCavendish Court, Derby, DE1 1UB2
£1,40003/240.14 miBramble Street, Derby2
£1,49503/240.14 miBramble Street2
£1,40005/240.14 miBramble Street, Derby2
£1,49505/240.14 miBramble Street2
£1,25003/240.15 miSt. Marys Gate, Derby, Derbyshire, DE12
£1,10003/240.15 miSt Marys Gate, Derby2
£1,20003/240.15 miSt. Marys Gate, DERBY2
£1,00003/240.15 miSt. Marys Gate, DERBY2
£1,25003/240.15 miMiddleton House, 27 St. Marys Gate, DE1 3JR2
£1,25003/240.15 miMiddleton House, St Marys Gate2
£1,25003/240.15 miMiddleton House, 27 St. Marys Gate, DE1 3JR2
£1,50003/240.15 miMiddleton House, 27 St. Marys Gate, DE1 3JR2
£1,25003/240.15 miMiddleton House, 27 St. Marys Gate, DE1 3JR2
£1,60003/240.15 miMiddleton House, 27 St. Marys Gate, DE1 3JR2
£1,10004/240.15 miSt. Marys Gate, DERBY2
£1,10003/240.15 miSt. Marys Gate, DERBY2
£1,10003/240.15 miSt. Marys Gate, DERBY2
£1,10004/240.15 miSt. Marys Gate, DERBY2
£1,15004/240.15 miSt. Marys Gate, DERBY2
£1,15004/240.15 miSt. Marys Gate, DERBY2
£1,15004/240.15 miSt. Marys Gate, DERBY2
£1,50004/240.15 miSt. Marys Gate, DERBY2
£1,10004/240.15 miSt. Marys Gate, DERBY2
£1,20004/240.15 miSt. Marys Gate, DERBY2
£1,25005/240.15 miSt. Marys Gate, DERBY2
£1,05003/240.15 miSt. Marys Gate, DERBY2
£1,00003/240.15 miSt. Marys Gate, DERBY2
£1,10003/240.15 miSt. Marys Gate, DERBY2
£1,10004/240.15 miSt. Marys Gate, Derby DE1 3JS2

Local Area Statistics

Population in DE1

14,046

Population in Derby

308,324

Town centre distance

0.66 miles away

Nearest school

0.30 miles away

Nearest train station

0.96 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £100,000

September 18, 2024

Floor Plans

Description

  • Central Derby Location +

  • Two Double Bedrooms +

  • Modern Open-Plan Kitchen and Living Area +

  • Main Bathroom and En-Suite +

  • Close to Shops, Restaurants, and Transport Links. +

SUMMARY
Welcome to Norman House, a stylish and modern two-bedroom apartment located in the heart of Derby.

DESCRIPTION
*Cash Buyers Only*
Welcome to Norman House, a well-presented two-bedroom apartment located on Friar Gate in the heart of Derby. This prime location offers easy access to the city's vibrant restaurants, cafe's and shops, making it ideal for those seeking a lifestyle that balances convenience and culture. With excellent transport links and close proximity to Derby train station, commuting to nearby cities.

As you enter the apartment, you are greeted by a spacious hallway. To the left, the open-plan kitchen and living room offer a modern, stylish finish. The large windows flood the space with natural light and provide a lovely view outside.

Both bedrooms are generous doubles, ensuring ample space and comfort. The master bedroom benefits from an en suite shower room. The second bedroom is equally spacious, making it ideal for guest or as a home office. The main bathroom features a bathtub, perfect for unwinding after a busy day.

Norman House offers a fantastic opportunity for those seeking contemporary city living in a sought-after location. Whether you're a first-time buyer, professional, or investor, this apartment combines stylish interiors with the convenience of city life right on your doorstep.

Kitchen/ Living Room 19' 9" x 15' 7" ( 6.02m x 4.75m )

Bedroom 1 16' 5" x 13' 1" ( 5.00m x 3.99m )

Bedroom 2 15' 9" x 10' 6" ( 4.80m x 3.20m )

Bathroom 6' 7" x 6' 2" ( 2.01m x 1.88m )

En-Suite 8' 8" x 4' 9" ( 2.64m x 1.45m )

We currently hold lease details as displayed above, should you require further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

Bagshaws Residential, Derby

01332 215045

Next Steps?

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