2 Bed Flat, Single Let, Colchester, CO1 2BU, £127,000

Wheatsheaf Court, Kendall Road, Colchester, CO1 2BU - 3 views - 5 months ago

Sold STC
Leasehold
BTL
ROI: 10%
~68 m²
+5 photos

ValuationUndervalued

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

 

 

Square Metres

~68.11 m²
Price/m²£1.9K/m²

Value Estimate

£156,210
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£31,750

Stamp Duty & Legal Fees

£5,010

Total Cash In

£36,760

 

 

Cash Out

 

Rent Range

£775 - £3,000

Rent Estimate

£919

Running Costs/mo

£601

Cashflow/mo

£318

Cashflow/yr

£3,820

ROI

10%

Gross Yield

9%

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 
£165K06/210.1 miFlat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG2
£161K08/210.1 mi78, George Williams Way, Colchester, Essex CO1 2JZ2
£146.5K01/210.1 mi42, George Williams Way, Colchester, Essex CO1 2JZ2
£150K06/210.1 mi24, George Williams Way, Colchester, Essex CO1 2JZ2
£150K01/210.12 mi141, George Williams Way, Colchester, Essex CO1 2JR2
£176K07/230.12 mi139, George Williams Way, Colchester, Essex CO1 2JR2
£171K12/220.12 mi191, George Williams Way, Colchester, Essex CO1 2JR2
£162K05/210.14 mi12, Saw Mill Road, Colchester, Essex CO1 2ZQ2
£160K09/220.16 mi45, George Williams Way, Colchester, Essex CO1 2JP2
£150K11/200.17 mi5, George Williams Way, Colchester, Essex CO1 2JP2
£159K05/210.17 mi81, George Williams Way, Colchester, Essex CO1 2JP2
£150K03/210.26 mi101, Nicholsons Grove, Colchester, Essex CO1 2XT2
£268K10/210.29 mi25, Hythe Hill, Colchester, Essex CO1 2NB2
£90K05/210.29 mi5, The Dell, Colchester, Essex CO1 2YH2
£145K02/210.31 mi15, St Augustine Mews, Colchester, Essex CO1 2PF2
£140K03/210.32 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£140K03/210.32 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£165K05/210.32 mi156, Hythe Hill, Colchester, Essex CO1 2NG2
£182K07/230.35 mi4, Tarrett Drive, Colchester, Essex CO1 2NJ2
£260K11/220.38 mi26, Captain Gardens, Colchester, Essex CO2 7FX2
£155K02/210.41 mi30, Steed Crescent, Colchester, Essex CO2 7SJ2
£245K05/210.42 miFlat 25, The Mill Apartments, East Street, Colchester, Essex CO1 2QT2
£160K10/210.42 mi54a, Barrington Road, Colchester, Essex CO2 7RW2
£217.5K04/210.45 mi49, Grosvenor Place, Colchester, Essex CO1 2ZD2
£170K03/210.45 mi14, Grosvenor Place, Colchester, Essex CO1 2ZD2
£197.5K03/230.45 mi29, Grosvenor Place, Colchester, Essex CO1 2ZD2
£240K10/220.46 mi22, Grosvenor Place, Colchester, Essex CO1 2ZD2
£165K06/230.52 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£120K01/210.52 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£162K06/230.52 miFlat 9, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K01/210.52 miFlat 15, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£145K03/210.52 miFlat 8, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB2
£194K10/200.53 mi7, Sadler Close, Colchester, Essex CO2 7LU2
£175K06/210.53 mi13, Sadler Close, Colchester, Essex CO2 7LU2
£170K07/210.53 mi2, Sadler Close, Colchester, Essex CO2 7LU2
£197.5K02/230.53 mi32, Rouse Way, Colchester, Essex CO1 2TT2
£250K07/230.53 mi25, Rouse Way, Colchester, Essex CO1 2TT2
£175K06/210.53 mi24, Rouse Way, Colchester, Essex CO1 2TT2
£200K03/210.53 mi26, Rouse Way, Colchester, Essex CO1 2TT2
£185K02/230.53 mi17, Rouse Way, Colchester, Essex CO1 2TT2
£190K09/220.57 mi4, York Place, Colchester, Essex CO1 2RF2
£173K12/200.59 mi9, Meachen Road, Colchester, Essex CO2 8JD2
£157.5K11/200.61 mi3, Meachen Road, Colchester, Essex CO2 8JD2
£130K04/230.61 mi45, Meachen Road, Colchester, Essex CO2 8JD2
£143K12/200.64 mi106, St Andrews Gardens, Colchester, Essex CO4 3EH2
£146K01/210.65 miFlat 11, Dedham Court, Stalin Road, Colchester, Essex CO2 8SN2
£180K02/210.67 mi37 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£205K05/230.67 mi65 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£147K03/210.67 mi71 Sail House, Ship Wharf, Colchester, Essex CO2 8YP2
£185K12/220.7 mi6, Caelum Drive, Colchester, Essex CO2 8FP2

Local Rents

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

RentDateDistanceAddressBeds 
£1,25005/240 mi-2
£1,90004/250.03 mi-2
£1,20003/240.05 miWilson Mews, Barrack Street, CO12
£1,20003/250.05 mi-2
£1,10004/250.05 mi-2
£95004/240.06 miMagdalen Street, Colchester, Essex2
£89505/240.06 miKendall Road, Colchester2
£1,05004/240.06 miKendall Road, Colchester, Essex, CO12
£1,10003/240.07 miNew Town Road, New Town, Colchester, CO12
£1,15001/250.09 mi-2
£99501/250.09 mi-2
£1,15004/250.09 mi-2
£1,04503/240.09 miSimons Lane, Colchester2
£1,05001/250.1 mi-2
£1,00003/240.1 miGeorge Williams Way, Colchester2
£1,00004/240.1 miGeorge Williams Way, Colchester2
£1,20004/240.1 miCentral Colchester2
£1,00003/250.1 mi-2
£1,10003/240.11 miVictoria Place, Colchester,CO1 2DZ2
£1,10004/240.11 miVictoria Place, Colchester, Essex, CO12
£1,10004/240.11 miSt. Leonards Road, Colchester, Essex, CO12
£1,05003/240.12 miGeorge Williams Way,Colchester,CO12
£1,12512/240.12 mi-2
£1,20003/240.12 miJames Street, Colchester, Essex, CO12
£1,10003/240.12 miCannon Street, Colchester2
£1,15004/240.12 miNew Town2
£1,10003/240.13 miKing Stephen Road, Colchester, Essex, CO12
£77501/240.13 mi-2
£1,17501/250.14 mi-2
£1,10003/240.14 miRebow Street, Colchester, Essex, CO12
£1,10003/240.14 miSaw Mill Road, Colchester, Essex, CO12
£1,10003/240.14 miGeorge Williams Way, Colchester, Essex, CO12
£1,40003/250.15 mi-2
£1,00005/240.15 miBarrack Street, Colchester2
£1,15004/240.15 miOld Rectory Drive, Brook Street, Colchester, CO12
£1,10003/240.17 miGeorge Williams Way, Town Centre2
£90003/240.18 miWinnock Road, Colchester2
£97504/240.18 miWinnock Road, Colchester2
£1,20001/240.18 mi-2
£3,00004/240.18 mi-2
£3,00005/240.18 mi-2
£2,80003/250.18 mi-2
£1,20003/240.18 miGunner Mews, Colchester, Essex, CO12
£1,20005/240.18 miMilitary Road, COLCHESTER2
£1,25001/250.2 mi-2
£1,20005/240.2 miMorant Road, Colchester, CO12
£1,17501/240.2 mi-2
£1,17502/250.2 mi-2
£1,10005/240.21 miArtillery Street, Colchester, CO12
£1,10005/240.21 mi-2

Local Area Statistics

Population in CO1

15,333

Population in Colchester

214,734

Town centre distance

1.10 miles away

Nearest school

0.40 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £127,000

December 17, 2024

Listed for £130,000

November 13, 2024

Description

  • TWO BEDROOMS +
  • SEPERATE KITCHEN +
  • GARAGE +
  • UPDATE REQUIRED +
  • NO CHAIN +
  • CLOSE TO TOWN +
  • COUNCIL TAX BAND A £1379 +
  • EPC RATING D +

Boydens offers this two-bedroom flat situated on a Victorian terraced street to the east of Colchester. Available with vacant possession, this property offers flexibility for both investors and owner-occupiers. While the flat requires some updating throughout, it has recently been re-decorated and provides a good opportunity to add value and personalise to your taste.

The flat is part of a purpose-built complex with only two being accessed from the communal entrance hall. Stepping through the private front door, you're greeted by a hallway providing access to all rooms. At the far end of the hall lies the lounge/dining room, featuring a window to the front and a Velux window to the rear. Adjacent to the lounge, the separate kitchen boasts fitted units and a sink.

The property comprises two bedrooms, with the principal bedroom offering ample space for a double bed, while the second bedroom provides comfortable accommodation as a study space or single bedroom. These bedrooms are serviced by a family bathroom featuring a bath with a shower over, WC, and sink, ensuring convenience and comfort for occupants.

Externally, the property benefits from a single garage, providing secure parking or additional storage space, along with communal visitor parking spaces, enhancing convenience for residents and guests alike.

Service Charge - £1,200 pa
Ground Rent - £100 pa
Lease Length - 87 years

This flat is available with vacant possession and offers an excellent opportunity for either investors seeking rental income or owner-occupiers looking to renovate and make it their own.

HALL - 19'5'' x 5'9'' (5.9m x 1.8m)

LOUNGE/DINER - 17'4'' x 11'4'' (5.3m x 3.5m)

KITCHEN - 8' x 5'6'' (2.4m x 1.7m)

BEDROOM - 1 - 11'5'' x 8'3'' (3.5m x 2.5m)

BEDROOM - 2 - 7'7'' x 8'2'' (2.3m x 2.5m)

BATHROOM - 6'10'' x 5'9'' (2.1m x 1.8m)

GARAGE - 16' x 8'8'' (4.9m x 2.6m)

Agent Details

Boydens, Colchester

01206 586167

Next Steps?

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