2 Bed Flat, Single Let, Norwich, NR2 4LB, £90,000

9 Freeman Square, Norwich, Norfolk NR2 4LB - 3 views - 4 months ago

Sold STC
Leasehold
Auction
BTL
ROI: 18%
58 m²
+4 photos

ValuationUndervalued

Sold Prices£106.5K - £228K
Sold Prices/m²£1.7K/m² - £3.3K/m²

 

 

Square Metres

58 m²
Price/m²£1.6K/m²

Value Estimate

£108,900
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£22,500

Stamp Duty & Legal Fees

£3,900

Total Cash In

£26,400

 

 

Cash Out

 

Rent Range

£795 - £2,850

Rent Estimate

£866

Running Costs/mo

£474

Cashflow/mo

£392

Cashflow/yr

£4,699

ROI

18%

Gross Yield

12%

Local Sold Prices

50 sold prices from £106.5K to £228K, average is £143.4K. £1.7K/m² to £3.3K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£153K07/230.07 mi46, Watson Grove, Norwich, Norfolk NR2 4LF2
£135K12/200.07 mi5, Goodman Square, Norwich, Norfolk NR2 4LA2
£143.8K02/230.07 mi13, Goodman Square, Norwich, Norfolk NR2 4LA2
£130K01/230.07 mi10, Goodman Square, Norwich, Norfolk NR2 4LA2
£132.5K01/210.07 mi72, Dolphin Grove, Norwich, Norfolk NR2 4DY2
£170K12/220.09 mi10, Dolphin Grove, Norwich, Norfolk NR2 4DZ2
£132K12/200.09 mi5, Dolphin Grove, Norwich, Norfolk NR2 4DZ2
£130K11/230.09 mi19, Dolphin Grove, Norwich, Norfolk NR2 4DZ2
£138K12/200.1 mi129, Old Palace Road, Norwich, Norfolk NR2 4JW2
£160K03/230.1 mi8, Clifton Close, Norwich, Norfolk NR2 4JN2
£154K07/230.1 mi16, Clifton Close, Norwich, Norfolk NR2 4JN2
£142K01/210.1 mi19, Clifton Close, Norwich, Norfolk NR2 4JN2
£135K03/210.1 mi110, Old Palace Road, Norwich, Norfolk NR2 4JA2
£135K03/210.13 mi110, Old Palace Road, Norwich, Norfolk NR2 4JA2
£151K09/230.14 mi95, Clifton Street, Norwich, Norfolk NR2 4NE2
£153K03/240.14 mi21, Clifton Street, Norwich, Norfolk NR2 4NE2
£140K09/210.18 mi36, Langley Walk, Norwich, Norfolk NR2 4NH2
£170K01/230.19 mi7c, St Bartholomews Close, Norwich, Norfolk NR2 4DX2
£140K02/210.22 mi11, Russell Street, Norwich, Norfolk NR2 4QT2
£140K04/210.22 mi47, Russell Street, Norwich, Norfolk NR2 4QT2
£129K06/210.23 mi52, Old Palace Road, Norwich, Norfolk NR2 4JQ2
£210K03/210.23 mi1, Church Close, Norwich, Norfolk NR2 4EF2
£165K10/230.3 mi25, Hemming Way, Norwich, Norfolk NR3 2AF2
£165K07/230.3 mi55, Hemming Way, Norwich, Norfolk NR3 2AF2
£140K03/210.3 mi55, Hemming Way, Norwich, Norfolk NR3 2AF2
£228K04/210.33 mi15, The Watering, Norwich, Norfolk NR3 3BF2
£200K09/230.33 mi14, The Watering, Norwich, Norfolk NR3 3BF2
£162K01/210.33 mi10, The Watering, Norwich, Norfolk NR3 3BF2
£106.5K06/210.38 mi75, Junction Road, Norwich, Norfolk NR3 2JA2
£145K01/240.39 mi14, Ely Street, Norwich, Norfolk NR2 4PS2
£140K01/210.44 mi8, Distillery Square, Norwich, Norfolk NR2 4BH2
£120K01/230.45 mi43, Vale Green, Norwich, Norfolk NR3 2ER2
£118K04/210.45 mi15, Vale Green, Norwich, Norfolk NR3 2ER2
£145K11/230.45 mi15, Vale Green, Norwich, Norfolk NR3 2ER2
£164K12/220.46 mi17, Charles Square, Norwich, Norfolk NR2 4BE2
£150K10/230.48 mi23, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£135K06/230.48 mi63, Douro Place, Norwich, Norfolk NR2 4BQ2
£145K05/230.48 mi57, Douro Place, Norwich, Norfolk NR2 4BQ2
£142K08/210.48 mi24, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£112K02/210.48 mi21, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£165K01/230.5 mi102, West Pottergate, Norwich, Norfolk NR2 4BW2
£147K11/230.5 mi101, West Pottergate, Norwich, Norfolk NR2 4BW2
£135K03/230.5 mi83, West Pottergate, Norwich, Norfolk NR2 4BW2
£143K09/210.5 mi11, Golding Place, Norwich, Norfolk NR2 4BD2
£130K06/230.51 mi64, Shorncliffe Close, Norwich, Norfolk NR3 2HS2
£133K08/230.54 mi41, West Pottergate, Norwich, Norfolk NR2 4BN2
£177.5K08/230.54 mi6, West Pottergate, Norwich, Norfolk NR2 4BN2
£180K12/200.56 mi18, Unicorn Yard, Norwich, Norfolk NR3 3AL2
£165K03/230.56 mi66, Paragon Place, Norwich, Norfolk NR2 4BP2
£156.5K08/230.59 mi76, Paragon Place, Norwich, Norfolk NR2 4BP2

Local Rents

50 rents from £795/mo to £2.9K/mo, average is £985/mo.

RentDateDistanceAddressBeds 
£82512/240.01 mi-2
£95009/240.06 mi-2
£1,00010/240.06 mi-2
£99501/250.06 mi-2
£87506/240.07 miGoodman Square, Norwich2
£87506/240.07 miGoodman Square, Norwich, NR22
£92506/240.1 mi-2
£1,20005/240.14 mi-2
£1,00006/240.18 miNelson Street, Norwich, NR22
£1,19503/250.18 mi-2
£1,19504/240.18 mi-2
£79506/240.2 miNelson Street, Norwich2
£95012/230.2 mi-2
£95002/250.2 mi-2
£90006/240.21 miDevonshire Street, Norwich, NR22
£95006/240.21 miArmes Street, Norwich, Norfolk, NR22
£99506/240.23 miBlazer Court, Norwich2
£90001/250.25 mi-2
£87503/240.25 miAdelaide Street, Norwich, Norfolk, NR22
£1,20001/240.26 mi-2
£80006/240.3 miMidland Walk, Norwich, NR2 4QP2
£99506/240.32 miWest City2
£2,85008/240.34 miDereham Road, Norwich2
£99506/240.35 miSt Martins Close, Norwich, NR32
£1,20008/240.38 miNorth City2
£97503/240.38 miLivingstone Street, Norwich, Norfolk, NR22
£97509/240.39 mi-2
£97508/240.39 miLivingstone Street, Norwich, NR22
£97506/240.39 miSpeke Street, Norwich, NR22
£97501/250.4 mi-2
£99506/240.4 mi-2
£1,10008/240.4 mi-2
£95003/250.4 mi-2
£99506/240.4 miSt. Philips Road, Norwich, NR22
£1,20007/240.4 miSt. Philips Road, Norwich, NR22
£1,10007/240.4 miSt. Philips Road, Norwich, NR22
£95006/240.4 miGladstone Street2
£1,15006/240.41 miGladstone Street, Norwich, NR2 3BJ2
£95008/240.41 miWingfield Road, Norwich2
£1,05008/240.41 miGrant Street, Norwich, NR22
£95006/240.42 miBerners Street, Norwich2
£1,05006/240.42 miAlexandra Road, NORWICH2
£1,15001/240.44 mi-2
£85002/240.44 mi-2
£1,25003/250.45 mi-2
£1,10007/240.47 miHelena Road, Norwich, Norfolk, NR22
£89506/240.48 miJunction Road, Norwich2
£99506/240.48 miJust Off City Centre2
£1,00006/240.48 mi-2
£90006/240.49 miBelvoir Street, Golden Triangle2

Local Area Statistics

Population in NR2

25,782

Population in Norwich

366,887

Town centre distance

0.53 miles away

Nearest school

0.30 miles away

Nearest train station

1.41 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Listed for £90,000

November 19, 2024

Floor Plans

Description

  • Spacious two bedroom flat +
  • Vacant, ideal for rental or first purchase +
  • Close to town centre +
  • Guide price: £90,000 to £110,000 +
  • For sale by online livestream auction +
  • Unless previously sold or withdrawn prior +
  • 11:00am - Wednesday, 11th December 2024 +

FOR SALE BY LIVESTREAM ONLINE AUCTION - 11:00AM, WEDNESDAY, 11th DECEMBER 2024.

TO REGISTER FOR LEGAL PACK AND BIDDING INSTRUCTIONS PLEASE VISIT OUR WEBSITE
A purpose built two bedroom flat ideal for first purchase or investment A spacious second floor flat located within walking distance of the city centre, previously the property was tenanted but is now to be sold vacant. The accommodation includes a large main reception room, fitted kitchen, two bedrooms and a spacious bathroom. Heating is provided by a gas central heating system and the property is fully double glazed.

All remaining furniture, including the washer/dryer in the kitchen is included within the asking price.

The flat has a security entry system, communal gardens, allocated en-block shed and there is permit parking within the area.
Accommodation Shared entrance hall and staircase to second floor landing, private door to entrance hall, lounge/diner, kitchen, inner hall, two bedrooms, bathroom.
Outside Communal gardens, permit parking, en-bloc allocated shed.
Council Tax Band A
Lease Details Term: 125 years from 14th December 1987 (88 Years remaining)
Annual ground rent: £10
Annual service charge: please refer to legal pack
Review period: please refer to legal pack
Viewings Open viewings are arranged and the next are on Thursday 5 December. To book an appointment please call the Norwich office. Tenure: Leasehold EPC Rating: C Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts. Buyer's Premium Fee: £480 inc VAT payable on exchange of contracts. Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Agent Details

Auction House, East Anglia

01603 361653

Next Steps?

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