2 Bed Flat, Single Let, Norwich, NR3 1SX, £135,000

Bull Close, Norwich, Norfolk, NR3 1SX - 4 views - 6 months ago

Sold STC
Leasehold
BTL
ROI: 9%
~68 m²
+15 photos

ValuationUndervalued

Sold Prices£110K - £236.5K
Sold Prices/m²£1.7K/m² - £3.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2K/m²

Value Estimate

£167,391
BMV24%

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

£825 - £1,300

Rent Estimate

£903

Running Costs/mo

£622

Cashflow/mo

£281

Cashflow/yr

£3,366

ROI

9%

Gross Yield

8%

Local Sold Prices

50 sold prices from £110K to £236.5K, average is £148.8K. £1.7K/m² to £3.9K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£128K07/230.04 mi48, Magdalen Close, Norwich, Norfolk NR3 1NE2
£142K10/210.1 mi81, Cowgate, Norwich, Norfolk NR3 1TG2
£180K12/220.21 mi26, Blackfriars Street, Norwich, Norfolk NR3 1SF2
£203K02/230.23 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£190K07/210.24 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£140K12/200.25 mi25, Fishergate, Norwich, Norfolk NR3 1SE2
£210K01/230.29 mi11, Cavalry Ride, Norwich, Norfolk NR3 1UA2
£160K09/230.3 mi90, Mousehold Street, Norwich, Norfolk NR3 1NX2
£135K09/200.31 mi75, Anchor Street, Norwich, Norfolk NR3 1PB2
£142K08/210.34 mi24, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£112K02/210.34 mi21, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£200K10/230.35 mi23a, Wensum Street, Norwich, Norfolk NR3 1LA2
£150K10/230.35 mi23, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£236.5K01/230.36 mi10, Roaches Court, Norwich, Norfolk NR3 1HJ2
£140.3K09/210.36 mi343, Gertrude Road, Norwich, Norfolk NR3 4RN2
£110K11/200.38 mi100, St James Close, Norwich, Norfolk NR3 1PE2
£165K02/230.38 mi100, St James Close, Norwich, Norfolk NR3 1PE2
£137.8K10/210.42 mi99, Southalls Way, Norwich, Norfolk NR3 4SA2
£145K05/230.42 mi18, Long Row, Norwich, Norfolk NR3 1EN2
£137.5K03/210.42 mi6, Long Row, Norwich, Norfolk NR3 1EN2
£131.5K08/210.45 mi6, Pockthorpe Gate, Norwich, Norfolk NR3 1TU2
£195K09/230.45 miFlat 44, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£182K09/210.45 miFlat 33, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£130K03/210.45 mi129, Lavengro Road, Norwich, Norfolk NR3 4RU2
£160K10/210.46 mi51, Howard Mews, Norwich, Norfolk NR3 4JU2
£135K05/210.46 mi14, Howard Mews, Norwich, Norfolk NR3 4JU2
£132K02/210.46 mi9, Clare Close, Norwich, Norfolk NR3 1EL2
£133K11/230.48 mi24, The Erins, Norwich, Norfolk NR3 4JP2
£123K10/210.48 mi20, The Erins, Norwich, Norfolk NR3 4JP2
£127K02/210.48 mi27, The Erins, Norwich, Norfolk NR3 4JP2
£116.8K12/230.48 mi23, The Erins, Norwich, Norfolk NR3 4JP2
£125K03/230.48 mi14, The Erins, Norwich, Norfolk NR3 4JP2
£180K12/200.48 mi18, Unicorn Yard, Norwich, Norfolk NR3 3AL2
£147.5K12/220.48 mi200, Mousehold Street, Norwich, Norfolk NR3 1PG2
£228K04/210.49 mi15, The Watering, Norwich, Norfolk NR3 3BF2
£200K09/230.49 mi14, The Watering, Norwich, Norfolk NR3 3BF2
£162K01/210.49 mi10, The Watering, Norwich, Norfolk NR3 3BF2
£142K09/200.52 mi10a, Bishop Bridge Road, Norwich, Norfolk NR1 4ET2
£150K11/230.54 mi38, Sun Lane, Norwich, Norfolk NR3 3NF2
£145K10/230.57 mi35, Millers Lane, Norwich, Norfolk NR3 3LX2
£194K06/230.6 mi2c, Millers Lane, Norwich, Norfolk NR3 3LU2
£217.5K03/210.6 mi7, St Margarets Street, Norwich, Norfolk NR2 4TU2
£180K10/210.6 mi4, Maidstone Road, Norwich, Norfolk NR1 1EA2
£172.5K11/230.6 mi49, Maidstone Road, Norwich, Norfolk NR1 1EA2
£165K09/230.6 miFlat 1, Maude Gray Court, St Benedicts Street, Norwich, Norfolk NR2 4PA2
£145K01/240.62 mi14, Ely Street, Norwich, Norfolk NR2 4PS2
£180K01/210.64 mi4, Three King Lane, Norwich, Norfolk NR2 1TX2
£181K03/210.64 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£181K03/210.64 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£110K01/210.7 mi133, St Leonards Road, Norwich, Norfolk NR1 4JN2

Local Rents

48 rents from £825/mo to £1.3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,20007/240.03 miBull Close, NORWICH2
£82506/240.04 miYarn Mews, Norwich2
£90006/240.06 miBull Close Road, NORWICH2
£1,29507/240.07 mi-2
£1,29405/240.07 mi-2
£1,29403/250.07 mi-2
£1,30006/240.07 miCowgate, Norwich, NR32
£1,05006/240.08 miWillis Street, Norwich2
£95008/240.08 miWillis Street, NORWICH2
£95006/240.1 miCross Keys Yard2
£95007/240.1 miCross Keys Yard2
£1,20006/240.1 miMagdalen Street, Norwich2
£1,15006/240.1 miSilver Street, NR32
£95006/240.1 miSilver Street, Norwich, NR32
£99506/240.1 mi-2
£1,15008/240.11 miSilver Street, Norwich2
£1,15009/240.11 miSilver Street, Norwich2
£1,05006/240.11 miPeacock Street, Norwich, Norfolk, NR32
£1,10007/240.11 miWodehouse Street, Norwich, Norfolk, NR32
£87507/240.11 miWodehouse Street, Norwich, NR32
£1,30006/240.12 miSt James Quay, Norwich, NR32
£1,10008/240.12 miMarlborough Road, Norwich, Norfolk, NR32
£90009/240.15 miMagpie Road2
£99506/240.15 miSilver Road, Norwich, Norfolk, NR32
£92506/240.16 miEdward Street, Norwich2
£95008/240.16 miDalymond Court, NR3 3FH2
£97508/240.16 miDalymond Court, Norwich, NR3 3FH2
£99507/240.16 miMagpie Road, Norwich2
£1,15007/240.17 miBeaconsfield Road, NR32
£1,25006/240.18 miTypesetters Way, NR32
£95001/250.18 mi-2
£1,25012/240.18 mi-2
£1,20008/240.19 miBeaconsfield Road2
£1,10006/240.19 miNorwich, NR32
£95008/240.19 miSilver Road, Norwich, Norfolk, NR32
£1,30006/240.21 miTypesetters Way, Printworks Drive, Norwich2
£1,05006/240.21 miMorley Street, Norwich2
£99506/240.21 miKnowsley Road, Norwich2
£1,30006/240.21 miTypsetters Way, NR3 1FJ2
£1,25006/240.21 miMagdalen Road, Norwich, 2
£1,10001/250.23 mi-2
£89506/240.23 miNorth City2
£89506/240.23 miGuernsey Road, Norwich2
£1,20008/240.24 mi-2
£1,20007/240.24 miSaint Augustines Street, Norwich, NR32
£90003/240.24 miThoroughfare Yard, Norwich, NR32
£1,00006/240.25 miClarke Road, Norwich, NR32
£1,20006/240.25 miMagpie Road, Norwich, NR32

Local Area Statistics

Population in NR3

32,672

Population in Norwich

366,887

Town centre distance

0.33 miles away

Nearest school

0.10 miles away

Nearest train station

0.81 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+16%

Sales demand

Seller's market

Capital growth (5yrs)

+28%

Property History

Listed for £135,000

September 30, 2024

Sold for £51,000

2001

Sold for £30,500

1995

Floor Plans

Description

  • CITY LOCATION +
  • PERMIT PARKING AREA +
  • NO CHAIN +

Located in the heart of Norwich with permitted parking area available. This 2 bedroom first floor apartment has been decorated throughout offering a neutral finish. The kitchen and bathroom in time may require updating but with UPVC double glazing and gas fired central heating, this is one to view.

COMMUNAL ENTRANCE HALL
With security entrance system with stairs to first floor.
COMMUNAL LANDING
Private storage cupboard and door to balcony with wrought iron railings and views overlooking the communal gardens, space for a table and chairs.
ENTRANCE HALL
BATHROOM
Comprising panel bath, WC and wash basin with ceramic tiled splashbacks.
BEDROOM
A good size double bedroom with view to the front with stripped timber boards.
KITCHEN
A selection of base, drawer and wall mounted units, with complementing splashbacks. There is a stainless-steel sink with views overlooking the rear communal gardens. Wall mounted combination boiler for central heating and domestic water as well as space for fridge freezer, plumbing, automatic, washing machine, gas hob and electric oven.
LOUNGE
With bay to the front, a light and bright, well-proportioned room with storage cupboard and gas fire, creating a main focal point, there is ample space for a dining room table.
BEDROOM
A good size double bedroom with view to the rear, with stripped timber boards.
OUTSIDE
To the front of the property are communal gardens behind low brick walls, the rear gardens with mature trees and lawns with flower shrub boards.
AGENTS NOTE
This property is of a leasehold nature with the remainder of 89 years on the lease. Ground rent is £10 per annum with a service charge averaging £250 - £350. The leasehold management pack available upon request.

Leasehold Information

Number of years remaining on the lease: 89 years

Current ground rent and any review period:
- £10 per year
Current service charge and any review period:
- £350 per year
Council tax band: A

Agent Details

Morton Reeves Estate Agents, Norwich

01603 361279

Next Steps?

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