2 Bed Flat, Single Let, Chelmsford, CM2 6AT, £250,000

388 Springfield Road, Chelmsford, Essex, CM2 6AT - 2 views - 5 months ago

Leasehold
BTL
75 m²
+9 photos

ValuationUndervalued

Sold Prices£130K - £259K
Sold Prices/m²£2.4K/m² - £4.7K/m²

 

 

Square Metres

75 m²
Price/m²£3.3K/m²

Value Estimate

£278,175
BMV7%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£9,500

Total Cash In

£72,000

 

 

Cash Out

 

Rent Range

£1,050 - £1,600

Rent Estimate

£1,063

Running Costs/mo

£1,014

Cashflow/mo

£49

Cashflow/yr

£590

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £130K to £259K, average is £202.8K. £2.4K/m² to £4.7K/m², average is £3.7K/m².

PriceDateDistanceAddressBeds 
£200K02/210 mi394, Springfield Road, Chelmsford, Essex CM2 6AT2
£245K03/230.18 mi290, Springfield Road, Chelmsford, Essex CM2 6BA2
£240K07/210.19 mi367, Springfield Road, Chelmsford, Essex CM2 6AW2
£210K12/220.31 mi49, Canvey Walk, Chelmsford, Essex CM1 6LB2
£205.7K05/230.31 mi9, Canvey Walk, Chelmsford, Essex CM1 6LB2
£189.5K11/210.31 mi33, Canvey Walk, Chelmsford, Essex CM1 6LB2
£203K08/230.33 mi29, Azalea Court, Chelmsford, Essex CM1 6YL2
£150K06/210.36 mi139, Cornflower Drive, Chelmsford, Essex CM1 6XZ2
£186K02/230.36 mi65, Cornflower Drive, Chelmsford, Essex CM1 6XZ2
£181K07/230.39 mi84, Foxglove Way, Chelmsford, Essex CM1 6QR2
£175K03/210.41 mi114, Lupin Drive, Chelmsford, Essex CM1 6FJ2
£180K03/230.41 mi114, Lupin Drive, Chelmsford, Essex CM1 6FJ2
£185K07/230.42 mi34, Lupin Drive, Chelmsford, Essex CM1 6FH2
£167K04/210.45 mi48, Petunia Crescent, Chelmsford, Essex CM1 6YP2
£177K06/210.46 mi29, Bodmin Road, Chelmsford, Essex CM1 6LJ2
£255K07/230.49 mi23, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW2
£255K03/230.49 mi53, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW2
£210K10/210.51 mi28, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£202.5K03/230.51 mi56, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£240K02/230.52 mi23, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£196.5K03/230.55 mi136, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£198K03/210.55 mi34, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£211K02/210.55 mi42, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£215K01/210.55 mi66, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£219K02/230.55 mi46, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£225K05/210.6 mi145, Beeleigh Link, Chelmsford, Essex CM2 6PH2
£220K04/210.6 mi147a, Beeleigh Link, Chelmsford, Essex CM2 6PH2
£245K01/210.6 mi78, Chelmer Road, Chelmsford, Essex CM2 6AB2
£217K05/210.63 mi169, Pollards Green, Chelmsford, Essex CM2 6UX2
£161.3K03/210.63 mi25, Abell Way, Springfield, Chelmsford, Essex CM2 6WU2
£157.5K09/210.63 mi29, Abell Way, Springfield, Chelmsford, Essex CM2 6WU2
£190K05/210.67 mi42, Jeffcut Road, Chelmsford, Essex CM2 6XN2
£188K01/210.67 mi30, Jeffcut Road, Chelmsford, Essex CM2 6XN2
£165K02/210.72 mi42, Bryant Link, Springfield, Chelmsford, Essex CM2 6GZ2
£153K05/210.74 mi15, Clematis Tye, Chelmsford, Essex CM1 6GL2
£173K04/210.74 mi11, Clematis Tye, Chelmsford, Essex CM1 6GL2
£170K02/210.74 mi24, Clematis Tye, Chelmsford, Essex CM1 6GL2
£248K11/210.75 mi81, Burnell Gate, Chelmsford, Essex CM1 6ED2
£259K02/210.75 mi47, Burnell Gate, Chelmsford, Essex CM1 6ED2
£250K02/230.75 mi85, Burnell Gate, Chelmsford, Essex CM1 6ED2
£205K04/210.79 mi181, Waveney Drive, Chelmsford, Essex CM1 7QD2
£210K03/210.8 mi31, Salter Place, Chelmsford, Essex CM2 6UU2
£185K06/210.82 mi133, Crocus Way, Chelmsford, Essex CM1 6XH2
£130K10/200.82 mi135, Crocus Way, Chelmsford, Essex CM1 6XH2
£215K06/230.83 mi73, Tamar Rise, Chelmsford, Essex CM1 7QL2
£212.5K04/210.83 mi73, Tamar Rise, Chelmsford, Essex CM1 7QL2
£195K03/230.83 mi63, Tamar Rise, Chelmsford, Essex CM1 7QL2
£202K11/200.85 mi19, Tamar Rise, Chelmsford, Essex CM1 7QL2
£205K12/200.85 mi25, Fawkner Close, Chelmsford, Essex CM2 6UP2
£210K12/200.85 mi27, Fawkner Close, Chelmsford, Essex CM2 6UP2

Local Rents

29 rents from £1.1K/mo to £1.6K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,15003/240.03 miSpringfield Road, CM22
£1,10005/240.08 miOasis Court, Chelmsford, CM22
£1,60004/240.16 miFalmouth Road, Chelmsford, CM12
£1,20003/240.16 miSpringfield Road, CM22
£1,30005/240.25 miSpringfield Road, Chelmsford2
£1,35003/250.26 mi-2
£1,40003/240.29 miInkerpole Place, Chelmsford2
£1,40003/240.34 mi-2
£1,45003/240.34 miBankart Lane, Chelmsford, CM22
£1,55005/240.35 mi-2
£1,55004/240.35 miBurgess Field, Chelmsford, CM22
£1,10003/240.36 miCornflower Drive , Springfield2
£1,05003/240.38 miLupin Drive, Chelmsford2
£1,10005/240.4 miFoxglove Way, CM12
£1,10003/240.41 miLupin Drive, Springfield, Chelmsford, CM12
£1,20005/240.42 mi-2
£1,20005/240.42 miFoxglove Way, Chelmsford, CM12
£1,20005/240.42 miFoxglove Way, Chelmsford, CM12
£1,10005/240.43 mi-2
£1,10005/240.43 miLupin Drive, Chelmsford, Cm1, CM12
£1,15005/240.51 miEarlsfield Drive, Chelmer Village, Chelmsford, CM22
£1,30002/240.51 mi-2
£1,15004/240.55 miRamshaw Drive, Chelmsford2
£1,20004/240.55 miRamshaw Drive, Chelmsford, Essex, CM22
£1,25001/250.57 mi-2
£1,20003/240.57 miRamshaw Drive, Chelmer Village2
£1,05011/230.58 miRembrandt Grove2
£1,45003/240.58 miRamshaw Drive, Chelmsford2
£1,35004/240.58 miRamshaw Drive, Chelmsford2

Local Area Statistics

Population in CM2

58,244

Population in Chelmsford

174,693

Town centre distance

1.58 miles away

Nearest school

0.40 miles away

Nearest train station

1.48 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+23%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Price changed to £250,000

December 26, 2024

Listed for £260,000

November 9, 2024

Sold for £235,000

2018

Sold for £171,950

2004

Floor Plans

Description

  • Two bedroom apartment +
  • Popular location +
  • Open plan living +
  • Allocated parking +
  • En-suite +
  • Family bathroom +

Located along the popular Springfield Road is this well maintained two-bedroom apartment within 1.6 miles to walking distance to Chelmsford train station (reference google maps). This apartment provides a fantastic first-time purchase or buy to let investment. Boasting contemporary living space and neutral decor, internally the property consists of a spacious open plan reception room with well-equipped fitted kitchen with built in appliances. Two bedrooms with bedroom one offering an en-suite shower room as well as built in wardrobes and further contemporary family bathroom. Externally the property benefits from well-kept communal gardens, allocated parking and visitors parking. Further benefits include gas central heating, double glazing and ample storage though out. To appreciate this property to its full potential, we strongly recommend an early internal inspection.

Springfield Road is positioned within access of Chelmsford City centre offering the use of numerous bars, restaurants, shops and local amenities. Chelmsford station is also within close proximity providing National Rail services into Central London, including London Liverpool Street in approximately thirty-five minutes. Driving wise the property also offers excellent road links to A12, M25 and A130.

Agents Note: Please note the property is or irregular shape, maximum measurements have been taken on lounge / kitchen and bedroom two, please rely on own measurements taken on inspection

Agent Details

Abbotts, Chelmsford

01245 945062

Next Steps?

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