2 Bed Flat, Single Let, Stevenage, SG2 7QU, £199,950

Apollo Way, Stevenage, SG2 7QU - 3 views - 6 months ago

Sold STC

Leasehold

BTL

ROI: 9%

~68 m²

+5 photos

ValuationUndervalued

Sold Prices	£110K - £290K
Sold Prices/m²	£1.7K/m² - £5.8K/m²

Square Metres	~68.11 m²
Price/m²	£2.9K/m²
Value Estimate	£231,492£231,492
BMV	16%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£49,988£49,988
Stamp Duty & Legal Fees	£7,199£7,199
Total Cash In	£57,186£57,186

Cash Out
Rent Range	£1,195 - £1,550£1,195 - £1,550
Rent Estimate	£1,313
Running Costs/mo	£907£907
Cashflow/mo	£406£406
Cashflow/yr	£4,867£4,867
ROI	9%9%
Gross Yield	8%8%

Local Sold Prices

20 sold prices from £110K to £290K, average is £225K. £1.7K/m² to £5.8K/m², average is £3.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£235K	06/23	0.35 mi	67, Epsom Close, Stevenage, Hertfordshire SG1 5TE	£3,764	62	2	Flat
£217K	10/21	0.38 mi	70, Epsom Close, Stevenage, Hertfordshire SG1 5TF	£3,444	63	2	Flat
£216K	04/21	0.42 mi	Flat 9, Noble Court, Drury Lane, Stevenage, Hertfordshire SG1 4RH	-	-	2	Flat
£290K	09/22	0.57 mi	17, Downlands, Stevenage, Hertfordshire SG2 7BH	£5,770	50	2	Flat
£195K	05/21	0.76 mi	467, Canterbury Way, Stevenage, Hertfordshire SG1 4EQ	£2,746	71	2	Flat
£125K	04/23	0.83 mi	38, Sutcliffe Close, Stevenage, Hertfordshire SG1 5PJ	£1,984	63	2	Flat
£110K	12/20	0.86 mi	43, Knott Close, Great Ashby, Stevenage, Hertfordshire SG1 6NP	£1,746	63	2	Flat
£215K	10/20	0.91 mi	Flat 2, Bell House, Great Ashby Way, Stevenage, Hertfordshire SG1 6DP	-	-	2	Flat
£215K	10/20	0.91 mi	Flat 2, Bell House, Great Ashby Way, Stevenage, Hertfordshire SG1 6DP	-	-	2	Flat
£233.8K	04/22	0.98 mi	22, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,388	69	2	Flat
£225K	11/20	0.99 mi	142, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,409	66	2	Flat
£235K	01/23	0.99 mi	142, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,561	66	2	Flat
£235K	02/22	0.99 mi	138, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,365	70	2	Flat
£236K	04/23	0.99 mi	136, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,371	70	2	Flat
£235K	06/21	0.99 mi	150, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,615	65	2	Flat
£225K	11/20	0.99 mi	142, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,409	66	2	Flat
£110K	08/21	0.99 mi	122, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£1,746	63	2	Flat
£110K	10/22	0.99 mi	126, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£1,738	63	2	Flat
£240K	05/23	0.99 mi	108, Priestley Road, Stevenage, Hertfordshire SG2 0BP	-	-	2	Flat
£235K	02/22	0.99 mi	162, Priestley Road, Stevenage, Hertfordshire SG2 0BP	£3,730	63	2	Flat

Local Rents

22 rents from £1.2K/mo to £1.6K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,550	08/24	0.13 mi	Gordian Way, Stevenage	2	Terraced House
£1,495	08/24	0.17 mi	-	2	Semi-Detached House
£1,350	08/24	0.2 mi	Wetherby Close, Stevenage	2	House
£1,500	08/24	0.34 mi	-	2	Flat
£1,375	09/24	0.36 mi	Uplands,Stevenage,SG2	2	Terraced House
£1,400	08/24	0.37 mi	-	2	Semi-Detached House
£1,375	08/24	0.39 mi	Anise Court, Admiral Drive, Stevenage	2	Flat
£1,350	08/24	0.42 mi	Noble Court, Chrysalis Park, Stevenage	2	Flat
£1,300	08/24	0.42 mi	Drury Lane, STEVENAGE	2	Flat
£1,350	08/24	0.44 mi	-	2	Flat
£1,350	08/24	0.44 mi	Leafwing Court, Stevenage, SG1	2	Flat
£1,500	02/24	0.44 mi	-	2	Flat
£1,500	03/25	0.44 mi	-	2	Flat
£1,500	04/25	0.44 mi	-	2	Flat
£1,350	05/24	0.44 mi	-	2	Flat
£1,450	04/25	0.44 mi	-	2	Flat
£1,300	08/24	0.45 mi	Admiral Drive, Stevenage, Hertfordshire, SG1	2	Flat
£1,350	08/24	0.45 mi	Admiral Drive, STEVENAGE	2	Flat
£1,350	08/24	0.45 mi	Papillion Court , Admiral Drive	2	Flat
£1,500	08/24	0.46 mi	Conifer Walk, Stevenage, SG2	2	Detached House
£1,195	11/23	0.46 mi	Crambus Court, Stevenage, SG1	2	Flat
£1,500	09/24	0.56 mi	-	2	Semi-Detached House

Local Area Statistics

Population in SG2	42,03842,038
Population in Stevenage	42,07042,070
Town centre distance	1.34 miles away1.34 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	2.14 miles away2.14 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-11%-11%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+20%+20%

Property History

Listed for £199,950

October 10, 2024

Floor Plans

Description

Top Floor Apartment Requiring Refurbishment +
Two Bedrooms +
Large Lounge +
Kitchen +
Bathroom +
Non Allocated Parking +
New 250 Year Lease +
No Ground Rent +
Chain Free +

A large top floor purpose built apartment set within this modern development.
The flat requires updating and offers good light and space, a large lounge and two good sized bedrooms. It represents a great investment opportunity or first time home and is to be sold chain free.

Top Floor -

Entrance Hall - Storage Cupboard.

Lounge - Double glazed windows.

Kitchen - Double glazed window. Floor and wall units, sink and drainer unit set in worktop, tiled splash back areas, spaces for cooker, fridge freezer and washing machine.

Bedroom One - Double glazed window.

Bedroom Two - Double glazed window.

Bathroom - Panel enclosed bath, wash basin, low flush WC. double glazed window.

Additional Information - New 250 year lease to be granted
No ground rent
Service charge for 2024/25 £880.94
EPC Rating C
Council Tax Band B (Stevenage)

Agent Details

Matthew James & Company, Kentish Town

020 3872 4803

Next Steps?

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

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