2 Bed Flat, Single Let, Colchester, CO1 2SE, £149,750

Magdalen Street, Colchester, CO1 2SE - 6 months ago

Sold STC
Leasehold
BTL
ROI: 6%
~68 m²
+11 photos

ValuationUndervalued

Sold Prices£90K - £268K
Sold Prices/m²£1.7K/m² - £4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.2K/m²

Value Estimate

£187,188
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£37,438

Stamp Duty & Legal Fees

£9,183

Total Cash In

£46,620

 

 

Cash Out

 

Rent Range

£775 - £3,000

Rent Estimate

£906

Running Costs/mo

£669

Cashflow/mo

£237

Cashflow/yr

£2,842

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £90K to £268K, average is £165K. £1.7K/m² to £4K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£161K08/210.03 mi78, George Williams Way, Colchester, Essex CO1 2JZ2
£146.5K01/210.03 mi42, George Williams Way, Colchester, Essex CO1 2JZ2
£150K06/210.03 mi24, George Williams Way, Colchester, Essex CO1 2JZ2
£150K01/210.06 mi141, George Williams Way, Colchester, Essex CO1 2JR2
£176K07/230.06 mi139, George Williams Way, Colchester, Essex CO1 2JR2
£171K12/220.06 mi191, George Williams Way, Colchester, Essex CO1 2JR2
£160K09/220.1 mi45, George Williams Way, Colchester, Essex CO1 2JP2
£150K11/200.1 mi5, George Williams Way, Colchester, Essex CO1 2JP2
£159K05/210.1 mi81, George Williams Way, Colchester, Essex CO1 2JP2
£162K05/210.13 mi12, Saw Mill Road, Colchester, Essex CO1 2ZQ2
£165K06/210.15 miFlat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG2
£150K03/210.2 mi101, Nicholsons Grove, Colchester, Essex CO1 2XT2
£90K05/210.23 mi5, The Dell, Colchester, Essex CO1 2YH2
£145K02/210.24 mi15, St Augustine Mews, Colchester, Essex CO1 2PF2
£268K10/210.33 mi25, Hythe Hill, Colchester, Essex CO1 2NB2
£140K03/210.36 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£140K03/210.36 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£165K05/210.36 mi156, Hythe Hill, Colchester, Essex CO1 2NG2
£245K05/210.37 miFlat 25, The Mill Apartments, East Street, Colchester, Essex CO1 2QT2
£260K11/220.38 mi26, Captain Gardens, Colchester, Essex CO2 7FX2
£182K07/230.38 mi4, Tarrett Drive, Colchester, Essex CO1 2NJ2
£217.5K04/210.41 mi49, Grosvenor Place, Colchester, Essex CO1 2ZD2
£170K03/210.41 mi14, Grosvenor Place, Colchester, Essex CO1 2ZD2
£197.5K03/230.41 mi29, Grosvenor Place, Colchester, Essex CO1 2ZD2
£240K10/220.42 mi22, Grosvenor Place, Colchester, Essex CO1 2ZD2
£155K02/210.47 mi30, Steed Crescent, Colchester, Essex CO2 7SJ2
£160K10/210.47 mi54a, Barrington Road, Colchester, Essex CO2 7RW2
£197.5K02/230.49 mi32, Rouse Way, Colchester, Essex CO1 2TT2
£250K07/230.49 mi25, Rouse Way, Colchester, Essex CO1 2TT2
£175K06/210.49 mi24, Rouse Way, Colchester, Essex CO1 2TT2
£200K03/210.49 mi26, Rouse Way, Colchester, Essex CO1 2TT2
£185K02/230.49 mi17, Rouse Way, Colchester, Essex CO1 2TT2
£190K09/220.51 mi4, York Place, Colchester, Essex CO1 2RF2
£165K06/230.54 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£120K01/210.55 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£162K06/230.58 miFlat 9, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K01/210.58 miFlat 15, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K03/210.58 miFlat 8, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£194K10/200.59 mi7, Sadler Close, Colchester, Essex CO2 7LU2
£175K06/210.59 mi13, Sadler Close, Colchester, Essex CO2 7LU2
£170K07/210.59 mi2, Sadler Close, Colchester, Essex CO2 7LU2
£143K12/200.61 mi106, St Andrews Gardens, Colchester, Essex CO4 3EH2
£173K12/200.65 mi9, Meachen Road, Colchester, Essex CO2 8JD2
£157.5K11/200.66 mi3, Meachen Road, Colchester, Essex CO2 8JD2
£130K04/230.66 mi45, Meachen Road, Colchester, Essex CO2 8JD2
£146K01/210.71 miFlat 11, Dedham Court, Stalin Road, Colchester, Essex CO2 8SN2
£167K11/220.72 mi30, Ratcliffe Court, Colchester, Essex CO4 0AZ2
£180K02/210.72 mi37 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£205K05/230.72 mi65 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£147K03/210.72 mi71 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2

Local Rents

50 rents from £775/mo to £3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,00003/240.03 miGeorge Williams Way, Colchester2
£1,00004/240.03 miGeorge Williams Way, Colchester2
£1,20004/240.03 miCentral Colchester2
£1,05001/250.04 mi-2
£1,00003/250.04 mi-2
£95004/240.05 miMagdalen Street, Colchester, Essex2
£1,05003/240.06 miGeorge Williams Way,Colchester,CO12
£1,90004/250.06 mi-2
£1,05004/240.06 miKendall Road, Colchester, Essex, CO12
£1,25005/240.06 mi-2
£1,20003/250.07 mi-2
£1,10004/250.07 mi-2
£1,04503/240.07 miSimons Lane, Colchester2
£99501/250.08 mi-2
£1,10003/240.08 miGeorge Williams Way, Colchester, Essex, CO12
£1,15004/250.1 mi-2
£1,20003/240.1 miWilson Mews, Barrack Street, CO12
£1,10003/240.1 miGeorge Williams Way, Town Centre2
£1,15001/250.11 mi-2
£1,10003/240.11 miNew Town Road, New Town, Colchester, CO12
£1,12512/240.11 mi-2
£89505/240.11 miKendall Road, Colchester2
£1,20003/240.12 miJames Street, Colchester, Essex, CO12
£1,15004/240.12 miOld Rectory Drive, Brook Street, Colchester, CO12
£1,10003/240.13 miSaw Mill Road, Colchester, Essex, CO12
£1,17501/250.14 mi-2
£1,40003/250.15 mi-2
£1,10003/240.15 miVictoria Place, Colchester,CO1 2DZ2
£90003/240.15 miWinnock Road, Colchester2
£97504/240.15 miWinnock Road, Colchester2
£1,10004/240.15 miVictoria Place, Colchester, Essex, CO12
£1,10004/240.16 miSt. Leonards Road, Colchester, Essex, CO12
£77501/240.17 mi-2
£1,10003/240.17 miCannon Street, Colchester2
£1,15004/240.17 miNew Town2
£1,30004/250.19 mi-2
£1,00005/240.19 miBarrack Street, Colchester2
£1,10003/240.2 miRebow Street, Colchester, Essex, CO12
£1,20001/240.2 mi-2
£1,10003/240.2 miKing Stephen Road, Colchester, Essex, CO12
£3,00004/240.2 mi-2
£3,00005/240.2 mi-2
£2,80003/250.2 mi-2
£90003/240.2 miBrook Street,Colchester2
£1,20005/240.2 miMilitary Road, COLCHESTER2
£1,25001/250.23 mi-2
£1,10004/240.23 mi-2
£1,25005/240.23 miSmythies Avenue, Colchester, CO12
£1,17501/240.24 mi-2
£1,17502/250.24 mi-2

Local Area Statistics

Population in CO1

15,333

Population in Colchester

214,734

Town centre distance

1.06 miles away

Nearest school

0.30 miles away

Nearest train station

0.31 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £149,750

February 8, 2025

Price changed to £153,000

January 15, 2025

Price changed to £157,500

January 3, 2025

Price changed to £153,500

December 13, 2024

Listed for £155,000

October 11, 2024

Floor Plans

Description

  • NO ONWARD CHAIN +
  • TWO BEDROOM APARTMENT +
  • READY TO MOVE INTO +
  • CLOSE TO AMENITIES +
  • PARKING +
  • OTHER PLOTS AVAILABLE +

SUMMARY
A well located apartment, offered with no onward chain.

DESCRIPTION
NO ONWARD CHAIN

This ready to move into apartment is situated close to local amenities. Within walking distance is an array of local shops and businesses. Colchester's historic city centre is a short stroll away, offering a wealth of dining, leisure and retail facilities. Town train station, the bus station and the A12 corridor are within easy reach, making this ideal for the commuter.

We have other opportunities available on this development, please contact Connells for more information and to arrange your private viewing.

Entrance Hall 

Lounge / Diner 5' 7" x 12' 3" ( 1.70m x 3.73m )

Kitchen 7' 3" x 9' 1" ( 2.21m x 2.77m )

Master Bedroom 9' 2" x 11' 11" ( 2.79m x 3.63m )

Family Bathroom 6' 3" x 6' 7" ( 1.91m x 2.01m )

Bedroom Two 7' 9" x 8' ( 2.36m x 2.44m )

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: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, Colchester

01206 586060

Next Steps?

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