2 Bed Flat, Motivated Seller, Norwich, NR7 8DD, £160,000

Mallard Way, Sprowston, NR7 8DD - 1 views - 6 months ago

Sold STC
Leasehold
Motivated
BTL
ROI: 4%
~68 m²
+14 photos

ValuationUndervalued

Sold Prices£111K - £285K
Sold Prices/m²£1.9K/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£176,627
BMV10%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£9,900

Total Cash In

£49,900

 

 

Cash Out

 

Rent Range

£795 - £1,525

Rent Estimate

£838

Running Costs/mo

£688

Cashflow/mo

£150

Cashflow/yr

£1,805

ROI

4%

Gross Yield

6%

Local Sold Prices

50 sold prices from £111K to £285K, average is £143.5K. £1.9K/m² to £3.8K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£145K07/210.05 mi5, Swan Lane, Sprowston, Norwich, Norfolk NR7 8FW2
£182K03/240.1 mi22, Goodson Road, Norwich, Norfolk NR7 8FX2
£182.5K10/220.16 mi24, Coot Drive, Sprowston, Norwich, Norfolk NR7 8DW2
£230K10/220.17 mi39, Coot Drive, Sprowston, Norwich, Norfolk NR7 8DW2
£285K12/200.6 mi11, Martin Close, Norwich, Norfolk NR7 8PA2
£128K12/200.75 mi3, Church View Court, Norwich, Norfolk NR7 8QD2
£165.5K11/220.8 mi66, Sale Road, Norwich, Norfolk NR7 9TR2
£132.5K10/211 mi48, Munnings Road, Norwich, Norfolk NR7 9RQ2
£127K08/211.08 mi39, Deloney Road, Norwich, Norfolk NR7 9DQ2
£160K10/221.09 mi79, Watling Road, Norwich, Norfolk NR7 9TG2
£138K11/201.09 mi92, Munnings Road, Norwich, Norfolk NR7 9RH2
£149K01/231.1 mi94, Watling Road, Norwich, Norfolk NR7 9TQ2
£126K05/241.1 mi24, Chipperfield Road, Norwich, Norfolk NR7 9RR2
£128.5K03/211.11 mi2, Kempe Close, Norwich, Norfolk NR7 9DD2
£140K11/231.11 mi21, Kempe Close, Norwich, Norfolk NR7 9DD2
£111K12/201.12 mi125, Rider Haggard Road, Norwich, Norfolk NR7 9UD2
£125K06/211.16 mi17, Redfern Close, Norwich, Norfolk NR7 9RF2
£130K05/211.17 mi33, Colls Road, Norwich, Norfolk NR7 9QF2
£134K07/211.29 mi120, Desmond Drive, Norwich, Norfolk NR6 7JW2
£145K06/211.31 mi52, Rider Haggard Road, Norwich, Norfolk NR7 9UG2
£125K01/211.31 mi72, Gawdy Road, Norwich, Norfolk NR7 9UZ2
£141.5K09/231.31 mi67, Templemere, Norwich, Norfolk NR3 4EG2
£160K11/221.33 mi7, Dunwood Drive, Norwich, Norfolk NR6 7JS2
£160K10/211.33 mi42, Templemere, Norwich, Norfolk NR3 4EF2
£120K03/211.33 mi4, Templemere, Norwich, Norfolk NR3 4EF2
£125K07/211.36 mi121, Templemere, Norwich, Norfolk NR3 4EQ2
£145K12/221.36 mi8, Templemere, Norwich, Norfolk NR3 4EF2
£133K10/211.37 mi163, Templemere, Norwich, Norfolk NR3 4EE2
£144K01/231.38 mi35, Windmill Court, Norwich, Norfolk NR3 4ET2
£135K06/231.38 mi11, Windmill Court, Norwich, Norfolk NR3 4ET2
£145K12/211.38 mi2, Windmill Court, Norwich, Norfolk NR3 4ET2
£126K10/201.38 mi33, Windmill Court, Norwich, Norfolk NR3 4ET2
£150K07/231.38 mi37, Windmill Court, Norwich, Norfolk NR3 4ET2
£137.5K04/211.38 mi25, Holmes Close, Norwich, Norfolk NR7 9XN2
£127K06/211.39 mi35, Paine Road, Norwich, Norfolk NR7 9UN2
£167K01/231.41 mi521, Sprowston Road, Norwich, Norfolk NR3 4EU2
£123K01/211.41 mi521, Sprowston Road, Norwich, Norfolk NR3 4EU2
£135K08/231.42 mi19, Skelton Road, Norwich, Norfolk NR7 9UH2
£155K11/221.46 mi275, The Paddocks, Norwich, Norfolk NR6 7HS2
£140K04/211.46 mi231, The Paddocks, Norwich, Norfolk NR6 7HS2
£145K12/211.5 mi67a, Plumstead Road, Thorpe End, Norwich, Norfolk NR13 5AJ2
£153K03/231.56 mi39, Black Horse Opening, Norwich, Norfolk NR3 4EP2
£257.5K05/211.56 mi8, Gerald Close, Norwich, Norfolk NR1 4NE2
£145K05/211.57 mi131, The Paddocks, Norwich, Norfolk NR6 7HR2
£156K11/221.57 mi155, The Paddocks, Norwich, Norfolk NR6 7HR2
£138K02/211.58 mi39, Edgefield Close, Norwich, Norfolk NR6 7HP2
£159K03/241.59 miBodmin Court, Flat 8, Plumstead Road East, Norwich, Norfolk NR7 9NJ2
£143K06/211.59 miFlat 4, Bodmin Court, Plumstead Road East, Norwich, Norfolk NR7 9NJ2
£150K03/231.59 miFlat 9, Bodmin Court, Plumstead Road East, Norwich, Norfolk NR7 9NJ2
£162K04/231.59 miFlat 12, Bodmin Court, Plumstead Road East, Norwich, Norfolk NR7 9NJ2

Local Rents

11 rents from £795/mo to £1.5K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£92512/240.05 miSwan Lane, Sprowston2
£82512/240.22 mi-2
£82512/240.22 mi-2
£1,52512/240.22 mi-2
£97506/240.28 miEgyptian Goose Road, NR7 8FN2
£95012/240.3 miCere Road, Norwich, Norfolk, NR72
£95006/240.45 mi-2
£95010/240.45 mi-2
£79512/240.46 miRowan Court, Plantation Drive, Norwich2
£92512/240.46 mi-2
£95006/240.48 miPine Court, Plantation Drive, Norwich, Norfolk, NR72

Local Area Statistics

Population in NR7

32,046

Population in Norwich

366,887

Town centre distance

2.39 miles away

Nearest school

0.10 miles away

Nearest train station

2.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+25%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £160,000

October 15, 2024

Floor Plans

Description

  • Stylish top-floor apartment with open-plan living space, perfect for modern lifestyles +
  • Sleek, well-equipped kitchen with ample space for a fridge freezer +
  • Motivated vendors, presenting a fantastic opportunity for first-time buyers or investors +
  • Two spacious bedrooms, including a master with ensuite shower for added luxury +
  • Contemporary three-piece bathroom, ideal for guests or family +
  • Allocated parking and secure bike shed, providing convenience and security +
  • Excellent location with easy access to Norwich city centre and transport links +
  • Vibrant Sprowston community with local amenities, schools, and parks nearby +

Positioned in Sprowston, Mallard Way offers a modern top-floor apartment just 3 miles from Norwich city centre. The apartment features a spacious open-plan lounge and kitchen area, two bedrooms, including an ensuite in the main and a three-piece bathroom for the second bedroom. With allocated parking, a bike shed, and motivated vendors, this property presents an excellent opportunity for first-time buyers or investors. The vibrant Sprowston community offers great local amenities and convenient transport links, providing a peaceful yet connected lifestyle. The Location Located in the popular suburb of Sprowston, Mallard Way offers convenient access to city amenities. Just 3 miles northeast of Norwich city centre, the property benefits from excellent transport links, including nearby bus routes and easy access to the A1042 and A47. Sprowston is a vibrant community with a wide range of local amenities, including schools, supermarkets, and leisure facilities, making it ideal for families. The area is also close to the Sprowston Retail Park and several parks, providing green spaces for outdoor activities. With its close proximity to Norwich and the Norfolk Broads, this location is perfect for those seeking a peaceful yet connected lifestyle. Mallard Way This bright and airy top floor apartment is a fantastic opportunity for those seeking a stylish and contemporary home. The open-plan lounge and kitchen area provides a wonderful space for relaxation and entertaining, with ample room for your furnishings. The modern kitchen is well-equipped, featuring sleek finishes and plenty of space for a fridge freezer, making it perfect for any home cook. The apartment boasts two well-proportioned bedrooms, offering both comfort and privacy. The main bedroom benefits from an ensuite shower room, while the second bedroom is conveniently served by a three-piece bathroom suite, offering versatility for guests or family members. Situated in a sought-after location in Sprowston, this property comes with allocated parking and access to a bike shed for added convenience. The vendors are highly motivated, making this a great opportunity for first-time buyers or investors looking for a hassle-free purchase. Agents Note Sold Leasehold. Maintenance: £126 pcm Ground Rent: £250

EPC Rating: B Disclaimer Minors and Brady, along with their representatives, are not authorized to provide assurances about the property, whether on their own behalf or on behalf of their client. We do not take responsibility for any statements made in these particulars, which do not constitute part of any offer or contract. It is recommended to verify leasehold charges provided by the seller through legal representation. All mentioned areas, measurements, and distances are approximate, and the information provided, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively. It should not be assumed that the property has all necessary planning, building regulations, or other consents. Services, equipment, and facilities have not been tested by Minors and Brady, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.

Agent Details

Minors & Brady, Wroxham

01603 361621

Next Steps?

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