2 Bed Flat, Single Let, Colchester, CO4 5ZF, £135,000

Wheelwright Place, Colchester, CO4 5ZF - 1 views - 7 months ago

Sold STC

Leasehold

BTL

ROI: 15%

~68 m²

+5 photos

ValuationUndervalued

Sold Prices	£135K - £295K
Sold Prices/m²	£2.4K/m² - £3.6K/m²

Square Metres	~68.11 m²
Price/m²	£2K/m²
Value Estimate	£163,350£163,350
BMV	21%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£33,750£33,750
Stamp Duty & Legal Fees	£8,150£8,150
Total Cash In	£41,900£41,900

Cash Out
Rent Range	£1,100 - £3,100£1,100 - £3,100
Rent Estimate	£1,200
Running Costs/mo	£682£682
Cashflow/mo	£518£518
Cashflow/yr	£6,218£6,218
ROI	15%15%
Gross Yield	11%11%

Local Sold Prices

28 sold prices from £135K to £295K, average is £180K. £2.4K/m² to £3.6K/m², average is £3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£182K	11/21	0.14 mi	139a, Nayland Road, Mile End, Colchester, Essex CO4 5HA	£2,638	69	2	Flat
£164K	01/21	0.67 mi	19, Wallace Road, Colchester, Essex CO4 5GP	£3,094	53	2	Flat
£170K	02/21	0.68 mi	8, Wallace Road, Colchester, Essex CO4 5GP	£2,425	70	2	Flat
£177.5K	11/21	0.71 mi	3, Linnet Mews, Colchester, Essex CO4 5NB	-	-	2	Flat
£177.5K	11/21	0.71 mi	3, Linnet Mews, Colchester, Essex CO4 5NB	-	-	2	Flat
£180K	01/23	0.76 mi	57, Weetmans Drive, Colchester, Essex CO4 9EA	£2,857	63	2	Flat
£180K	02/21	0.76 mi	33, Weetmans Drive, Colchester, Essex CO4 9EA	£2,466	73	2	Flat
£172K	05/23	0.76 mi	61, Weetmans Drive, Colchester, Essex CO4 9EA	£2,595	66	2	Flat
£185K	03/23	0.81 mi	58, Bradford Drive, Colchester, Essex CO4 5ZA	£2,891	64	2	Flat
£164K	10/21	0.85 mi	6, Libius Drive, Highwoods, Colchester, Essex CO4 9FX	£3,216	51	2	Flat
£200K	01/21	0.85 mi	187, Turner Road, Colchester, Essex CO4 5XW	£2,899	69	2	Flat
£179.5K	08/21	0.86 mi	13, Propelair Way, Colchester, Essex CO4 5YS	£3,068	59	2	Flat
£165K	06/23	0.88 mi	36, Groves Close, Colchester, Essex CO4 5BP	£3,000	55	2	Flat
£180K	10/22	0.88 mi	17, Groves Close, Colchester, Essex CO4 5BP	£3,333	54	2	Flat
£180K	06/23	0.88 mi	31, Groves Close, Colchester, Essex CO4 5BP	£2,857	63	2	Flat
£179K	11/22	0.88 mi	23, Groves Close, Colchester, Essex CO4 5BP	£3,340	54	2	Flat
£184.5K	01/23	0.9 mi	6, Libius Drive, Highwoods, Colchester, Essex CO4 9FX	£3,618	51	2	Flat
£150K	06/21	0.9 mi	17, Springham Drive, Colchester, Essex CO4 5FN	-	-	2	Flat
£135K	07/23	0.9 mi	3, Springham Drive, Colchester, Essex CO4 5FN	£2,700	50	2	Flat
£170K	02/21	0.9 mi	20, Libius Drive, Highwoods, Colchester, Essex CO4 9FX	£2,576	66	2	Flat
£180K	02/21	0.9 mi	87, Propelair Way, Colchester, Essex CO4 5YT	£2,982	60	2	Flat
£197K	12/22	0.91 mi	19, Propelair Way, Colchester, Essex CO4 5YS	£3,230	61	2	Flat
£200K	07/23	0.91 mi	99, Propelair Way, Colchester, Essex CO4 5YT	£2,857	70	2	Flat
£166K	11/20	0.91 mi	125, Propelair Way, Colchester, Essex CO4 5YT	£2,694	62	2	Flat
£200K	03/23	0.91 mi	129, Propelair Way, Colchester, Essex CO4 5YT	£3,321	60	2	Flat
£295K	10/21	0.93 mi	85, Braiswick, Colchester, Essex CO4 5BQ	£3,352	88	2	Flat
£210K	12/22	0.97 mi	6, Axial Drive, Colchester, Essex CO4 5RY	£3,231	65	2	Flat
£202K	07/23	0.99 mi	94, Gavin Way, Highwoods, Colchester, Essex CO4 9FP	£3,607	56	2	Flat

Local Rents

11 rents from £1.1K/mo to £3.1K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,200	12/24	0.01 mi	Nayland Road, Mile End, Colchester, Essex, CO4	2	Terraced House
£1,480	02/24	0.15 mi	-	2	Terraced House
£1,480	03/25	0.15 mi	-	2	Terraced House
£1,200	03/25	0.21 mi	-	2	Flat
£3,100	12/24	0.26 mi	-	2	Semi-Detached House
£1,300	12/24	0.26 mi	Cordelia Drive, Colchester	2	Flat
£2,800	04/25	0.27 mi	-	2	Semi-Detached House
£2,800	04/25	0.32 mi	-	2	Semi-Detached House
£1,375	12/24	0.32 mi	Chesterwell, Safrano Avenue, Colchester, Essex, CO4	2	Flat
£1,275	12/24	0.32 mi	Chesterwell, Mile End, Colchester, Essex, CO4	2	Flat
£1,100	12/24	0.47 mi	Dickenson Road, Colchester, Essex, CO4	2	Terraced House

Local Area Statistics

Population in CO4	47,78947,789
Population in Colchester	214,734214,734
Town centre distance	1.87 miles away1.87 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	1.02 miles away1.02 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-16%-16%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+16%+16%

Property History

Price changed to £135,000

December 28, 2024

Listed for £140,000

October 9, 2024

Floor Plans

Description

Top Floor Apartment +
Two Bedrooms +
Allocated Parking +
No Onward Chain +
Open Planed Living +
Popular North Side Location +
Close To Station +
Call Now To View +

Guide Price £135,000 - £145,000 Discover this stunning two-bedroom top floor apartment, ideally located on the sought-after North Side of Colchester. Perfect for first-time buyers or savvy investors, this beautifully presented property is ready for you to move in hassle-free, with no onward chain!

Enjoy the convenience of nearby Colchester North train station, swift access to the A12, and close proximity to Colchester General Hospital. This apartment offers a modern, open-plan living space featuring a spacious lounge, dining area, and a well-equipped kitchen. The apartment also includes a sleek bathroom, two generously sized bedrooms, and a welcoming entrance hall.

Step outside to find covered, allocated parking that adds to the ease of living. The vibrant community and excellent transport links make this apartment an unmissable opportunity for anyone looking to start their journey on the property ladder.

Don’t let this chance slip away! Call haart now to arrange your viewing and experience this fantastic apartment for yourself.