2 Bed Flat, Single Let, Norwich, NR3 3FJ, £165,000

Edward Street, North City, NR3 3FJ - 5 months ago

Sold STC
Leasehold
BTL
ROI: 4%
~68 m²
+2 photos

ValuationFair Value

Sold Prices£110K - £236.5K
Sold Prices/m²£1.7K/m² - £3.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.4K/m²

Value Estimate

£164,162

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£41,250

Stamp Duty & Legal Fees

£9,450

Total Cash In

£50,700

 

 

Cash Out

 

Rent Range

£825 - £1,650

Rent Estimate

£898

Running Costs/mo

£715

Cashflow/mo

£183

Cashflow/yr

£2,193

ROI

4%

Gross Yield

7%

Local Sold Prices

50 sold prices from £110K to £236.5K, average is £150K. £1.7K/m² to £3.9K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£128K07/230.12 mi48, Magdalen Close, Norwich, Norfolk NR3 1NE2
£142K08/210.21 mi24, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£112K02/210.21 mi21, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£150K10/230.22 mi23, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£142K10/210.22 mi81, Cowgate, Norwich, Norfolk NR3 1TG2
£180K12/220.24 mi26, Blackfriars Street, Norwich, Norfolk NR3 1SF2
£140K12/200.27 mi25, Fishergate, Norwich, Norfolk NR3 1SE2
£203K02/230.29 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£190K07/210.29 mi18, St Edmunds Wharf, Norwich, Norfolk NR3 1GU2
£200K10/230.35 mi23a, Wensum Street, Norwich, Norfolk NR3 1LA2
£236.5K01/230.35 mi10, Roaches Court, Norwich, Norfolk NR3 1HJ2
£228K04/210.35 mi15, The Watering, Norwich, Norfolk NR3 3BF2
£200K09/230.35 mi14, The Watering, Norwich, Norfolk NR3 3BF2
£162K01/210.35 mi10, The Watering, Norwich, Norfolk NR3 3BF2
£180K12/200.36 mi18, Unicorn Yard, Norwich, Norfolk NR3 3AL2
£145K05/230.38 mi18, Long Row, Norwich, Norfolk NR3 1EN2
£137.5K03/210.39 mi6, Long Row, Norwich, Norfolk NR3 1EN2
£195K09/230.39 miFlat 44, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£182K09/210.39 miFlat 33, Dukes Palace Wharf, Duke Street, Norwich, Norfolk NR3 3AT2
£210K01/230.45 mi11, Cavalry Ride, Norwich, Norfolk NR3 1UA2
£160K09/230.45 mi90, Mousehold Street, Norwich, Norfolk NR3 1NX2
£132K02/210.46 mi9, Clare Close, Norwich, Norfolk NR3 1EL2
£145K01/240.48 mi14, Ely Street, Norwich, Norfolk NR2 4PS2
£217.5K03/210.49 mi7, St Margarets Street, Norwich, Norfolk NR2 4TU2
£135K05/210.49 mi14, Howard Mews, Norwich, Norfolk NR3 4JU2
£160K10/210.5 mi51, Howard Mews, Norwich, Norfolk NR3 4JU2
£140.3K09/210.5 mi343, Gertrude Road, Norwich, Norfolk NR3 4RN2
£150K11/230.5 mi38, Sun Lane, Norwich, Norfolk NR3 3NF2
£165K09/230.5 miFlat 1, Maude Gray Court, St Benedicts Street, Norwich, Norfolk NR2 4PA2
£133K11/230.52 mi24, The Erins, Norwich, Norfolk NR3 4JP2
£123K10/210.52 mi20, The Erins, Norwich, Norfolk NR3 4JP2
£127K02/210.52 mi27, The Erins, Norwich, Norfolk NR3 4JP2
£116.8K12/230.52 mi23, The Erins, Norwich, Norfolk NR3 4JP2
£125K03/230.52 mi14, The Erins, Norwich, Norfolk NR3 4JP2
£110K11/200.53 mi100, St James Close, Norwich, Norfolk NR3 1PE2
£165K02/230.53 mi100, St James Close, Norwich, Norfolk NR3 1PE2
£145K10/230.53 mi35, Millers Lane, Norwich, Norfolk NR3 3LX2
£137.8K10/210.53 mi99, Southalls Way, Norwich, Norfolk NR3 4SA2
£180K01/210.54 mi4, Three King Lane, Norwich, Norfolk NR2 1TX2
£181K03/210.55 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£181K03/210.55 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£194K06/230.56 mi2c, Millers Lane, Norwich, Norfolk NR3 3LU2
£140K02/210.57 mi11, Russell Street, Norwich, Norfolk NR2 4QT2
£140K04/210.57 mi47, Russell Street, Norwich, Norfolk NR2 4QT2
£131.5K08/210.6 mi6, Pockthorpe Gate, Norwich, Norfolk NR3 1TU2
£130K03/210.6 mi129, Lavengro Road, Norwich, Norfolk NR3 4RU2
£164K12/220.63 mi17, Charles Square, Norwich, Norfolk NR2 4BE2
£180K10/210.63 mi4, Maidstone Road, Norwich, Norfolk NR1 1EA2
£172.5K11/230.63 mi49, Maidstone Road, Norwich, Norfolk NR1 1EA2
£147.5K12/220.63 mi200, Mousehold Street, Norwich, Norfolk NR3 1PG2

Local Rents

49 rents from £825/mo to £1.6K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£92506/240 miEdward Street, Norwich2
£95008/240.01 miDalymond Court, NR3 3FH2
£97508/240.01 miDalymond Court, Norwich, NR3 3FH2
£1,20006/240.05 miMagdalen Street, Norwich2
£95006/240.06 miCross Keys Yard2
£95007/240.06 miCross Keys Yard2
£99506/240.07 mi-2
£1,20008/240.09 mi-2
£1,20007/240.09 miSaint Augustines Street, Norwich, NR32
£99507/240.1 miMagpie Road, Norwich2
£1,10004/250.1 mi-2
£90009/240.1 miMagpie Road2
£1,29507/240.13 mi-2
£1,29405/240.13 mi-2
£1,29404/250.13 mi-2
£1,30006/240.13 miCowgate, Norwich, NR32
£1,20006/240.13 miMagpie Road, Norwich, NR32
£1,20006/240.13 mi-2
£90006/240.13 miBull Close Road, NORWICH2
£1,20007/240.13 miBull Close, NORWICH2
£1,05006/240.14 miPeacock Street, Norwich, Norfolk, NR32
£1,05006/240.16 miWillis Street, Norwich2
£95008/240.16 miWillis Street, NORWICH2
£1,05002/250.16 mi-2
£82506/240.16 miYarn Mews, Norwich2
£1,10006/240.17 miSt. Martins At Oak Wall Lane, Norwich2
£1,05006/240.18 miSt. Martins At Oak Wall Lane, Norwich2
£89506/240.18 miGuernsey Road, Norwich2
£1,10008/240.18 miMarlborough Road, Norwich, Norfolk, NR32
£1,00006/240.19 mi-2
£99506/240.19 miJust Off City Centre2
£92507/240.19 miSt. Augustines Gate, Norwich2
£1,10008/240.2 mi-2
£1,25006/240.21 miMagdalen Road, Norwich, 2
£1,20008/240.21 miBeaconsfield Road2
£1,15007/240.22 miBeaconsfield Road, NR32
£1,00006/240.22 miClarke Road, Norwich, NR32
£1,10006/240.23 miNorwich, NR32
£1,10006/240.24 miCross Lane, Norwich2
£95010/240.24 mi-2
£1,60006/240.24 mi-2
£1,65003/250.24 mi-2
£90003/240.25 miThoroughfare Yard, Norwich, NR32
£99504/250.25 mi-2
£1,30006/240.25 miSt James Quay, Norwich, NR32
£1,15006/240.25 miSilver Street, NR32
£95006/240.25 miSilver Street, Norwich, NR32
£1,10007/240.26 miWodehouse Street, Norwich, Norfolk, NR32
£1,15008/240.26 miSilver Street, Norwich2

Local Area Statistics

Population in NR3

32,672

Population in Norwich

366,887

Town centre distance

0.23 miles away

Nearest school

0.20 miles away

Nearest train station

0.88 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+16%

Sales demand

Seller's market

Capital growth (5yrs)

+28%

Property History

Listed for £165,000

November 27, 2024

Floor Plans

Description

  • No Onward Chain +
  • Two Bedrooms +
  • Spacious Living Area & Kitchen Opening Out Onto A Private Balcony +
  • Within Walking Distance Of The City Centre +
  • Gas Central Heating +
  • Double Glazing +
  • Ideal For The FTB Or Investor +

This third floor, two bedroom apartment is conveniently located just North of Norwich City centre, offering a fantastic opportunity for first time buyers or investors. The accommodation is accessed via a communal entrance hall with secure intercom entry, ensuring peace of mind. Inside, the apartment features a welcoming hall with a built-in storage cupboard, two well proportioned bedrooms, and a modern bathroom. The heart of the home is the spacious living area, which incorporates a modern kitchen and opens onto a private balcony, perfect for enjoying outdoor space with views over the area. The property benefits from double glazing and gas central heating, ensuring comfort and energy efficiency all year round. Offered with No Onward Chain, this property is an excellent choice for those seeking a low maintenance home or a buy to let investment in a sought after location close to the amenities and attractions of Norwich City centre.

This apartment is ideally located just North of Norwich City centre in the highly sought after NR3 area, nestled just off Magdalen Road. The location offers a vibrant community atmosphere with a fantastic selection of local amenities, including shops, bars, restaurants, and cafes, all within easy reach. Families will appreciate the convenience of nearby schooling for all ages, while essential services such as a local doctor`s surgery are just a short stroll away. For outdoor enthusiasts, the area is within walking distance of the beautiful Wensum Riverlands, a serene spot perfect for walks and relaxation. The City centre, renowned for its historic charm, bustling markets, boutique shops, and cultural attractions, is also within easy walking distance, making this location perfect for those seeking a blend of urban convenience and tranquil living.

Communal front door with secure intercom entry to

Staircase To The Third Floor

Front door to:-

Entrance Hall
Cupboard, doors to both bedrooms, bathroom and lounge/kitchen.

Living Room/Kitchen
28`8" (8.74m) max 22`5" (6.83m) min x 10`2" (3.10m) max 7`2 "(2.18m) min.
Double glazed windows to the side and rear, double glazed door to the balcony. The kitchen is fitted with a range of base and wall units, work surfaces, inset sink and drainer with mixer taps over, space for a fridge/freezer, integrated washer dryer and dishwasher, inset four ring electric hob with extractor hood over, electric oven and grill, cupboard housing the gas boiler.

Bedroom 1 - 11'7" (3.53m) x 10'7" (3.23m) Plus Recess
Double glazed window to the front.

Bedroom 2 - 12'10" (3.91m) x 6'4" (1.93m)
Double glazed window to the front.

Bathroom
Double glazed window to the rear, panelled bath with mixer shower over, low level WC, wash basin set into vanity unit, tiled splashbacks, extractor fan, heated towel radiator.

Notice
Please note that we have not tested any apparatus, equipment, fixtures, fittings or services and as so cannot verify that they are in working order or fit for their purpose. Pymm & Co cannot guarantee the accuracy of the information provided. This is provided as a guide to the property and an inspection of the property is recommended.

Agent Details

Pymm & Co, Norwich

01603 361642

Next Steps?

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