2 Bed Flat, Single Let, Chelmsford, CM1 1PT, £200,000

New Street, Chelmsford, Essex, CM1 1PT - 4 months ago

Leasehold

BTL

ROI: 6%

~49 m²

+1 photos

ValuationOvervalued

Sold Prices	£80.8K - £385K
Sold Prices/m²	£3.1K/m² - £5.2K/m²

Square Metres	~49.05 m²
Price/m²	£4.1K/m²
Value Estimate	£194,509£194,509

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£50,000£50,000
Stamp Duty & Legal Fees	£11,200£11,200
Total Cash In	£61,200£61,200

Cash Out
Rent Range	£1,150 - £3,300£1,150 - £3,300
Rent Estimate	£1,188
Running Costs/mo	£883£883
Cashflow/mo	£305£305
Cashflow/yr	£3,665£3,665
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £80.8K to £385K, average is £232K. £3.1K/m² to £5.2K/m², average is £4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£285K	04/21	0.13 mi	102, Watson Heights, Chelmsford, Essex CM1 1AF	£3,958	72	2	Flat
£253K	02/21	0.35 mi	42, Railway Street, Chelmsford, Essex CM1 1QS	£3,485	73	2	Flat
£205.5K	09/21	0.38 mi	Flat 27, Spalding Court, Cedar Avenue, Chelmsford, Essex CM1 2UZ	-	-	2	Flat
£85K	06/21	0.39 mi	Flat 4, Fenton Court, Burgess Springs, Chelmsford, Essex CM1 1HW	-	-	2	Flat
£385K	06/23	0.4 mi	89, Bond Street, Chelmsford, Essex CM1 1GD	-	-	2	Flat
£80.8K	03/21	0.41 mi	Flat 54, Wells Crescent, Viaduct Road, Chelmsford, Essex CM1 1GR	-	-	2	Flat
£160K	12/20	0.46 mi	Flat 201, Balmoral Court, Springfield Road, Chelmsford, Essex CM2 6JQ	-	-	2	Flat
£215K	02/23	0.47 mi	14, Abbotts Place, Chelmsford, Essex CM2 6RD	-	-	2	Flat
£220K	12/22	0.48 mi	18, Coval Lane, Chelmsford, Essex CM1 1TD	£3,667	60	2	Flat
£254K	11/21	0.55 mi	42, Wharf Road, Chelmsford, Essex CM2 6LU	£3,432	74	2	Flat
£260K	02/23	0.57 mi	18, Coates Quay, Chelmsford, Essex CM2 6HU	£5,200	50	2	Flat
£242.5K	11/21	0.57 mi	4, Coates Quay, Chelmsford, Essex CM2 6HU	£4,254	57	2	Flat
£212K	11/20	0.6 mi	73, Goodier Road, Chelmsford, Essex CM1 2GG	£4,240	50	2	Flat
£232.5K	06/21	0.6 mi	18, Goodier Road, Chelmsford, Essex CM1 2GG	£4,688	50	2	Flat
£233K	12/21	0.6 mi	41, Goodier Road, Chelmsford, Essex CM1 2GG	£3,426	68	2	Flat
£220K	02/21	0.6 mi	24, Goodier Road, Chelmsford, Essex CM1 2GG	£4,314	51	2	Flat
£248K	04/23	0.6 mi	20, Goodier Road, Chelmsford, Essex CM1 2GG	£4,679	53	2	Flat
£270K	11/20	0.61 mi	85, Wharf Road, Chelmsford, Essex CM2 6FS	£3,293	82	2	Flat
£280K	09/21	0.62 mi	3, County Place, Chelmsford, Essex CM2 0RF	£4,590	61	2	Flat
£320K	06/23	0.63 mi	85, Wharf Road, Chelmsford, Essex CM2 6FS	£3,902	82	2	Flat
£220K	12/20	0.66 mi	53, Hill Road, Chelmsford, Essex CM2 6HP	£3,099	71	2	Flat
£218K	03/21	0.66 mi	24, Rainsford Lane, Chelmsford, Essex CM1 2QR	£3,701	59	2	Flat
£282.5K	11/21	0.67 mi	4, Alma Drive, Chelmsford, Essex CM1 1TW	£3,924	72	2	Flat
£275K	03/21	0.69 mi	34, Hayes Close, Chelmsford, Essex CM2 0RN	£3,986	69	2	Flat
£313K	06/21	0.7 mi	Flat 31, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£310K	05/23	0.71 mi	Flat 56, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£320K	07/23	0.71 mi	Flat 47, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£230K	03/23	0.72 mi	2, Tees Road, Chelmsford, Essex CM1 7QH	£3,966	58	2	Flat
£230K	07/23	0.72 mi	8, Tees Road, Chelmsford, Essex CM1 7QH	£3,966	58	2	Flat
£232K	05/21	0.76 mi	82, Stapleford Close, Chelmsford, Essex CM2 0QX	£4,640	50	2	Flat
£232K	05/21	0.76 mi	82, Stapleford Close, Chelmsford, Essex CM2 0QX	£4,640	50	2	Flat
£250K	06/21	0.76 mi	98, Stapleford Close, Chelmsford, Essex CM2 0QX	£4,717	53	2	Flat
£225K	12/22	0.76 mi	45, Waveney Drive, Chelmsford, Essex CM1 7PZ	-	-	2	Flat
£325K	01/23	0.78 mi	Flat 32, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£177K	06/21	0.78 mi	29, Bodmin Road, Chelmsford, Essex CM1 6LJ	£4,214	42	2	Flat
£215K	01/23	0.79 mi	47, Stapleford Close, Chelmsford, Essex CM2 0RB	£4,135	52	2	Flat
£223K	11/21	0.8 mi	38, Stapleford Close, Chelmsford, Essex CM2 0RB	£4,288	52	2	Flat
£180K	05/23	0.8 mi	131, Kings Road, Chelmsford, Essex CM1 2BD	£4,286	42	2	Flat
£205K	05/21	0.81 mi	9, Blackwater Close, Chelmsford, Essex CM1 7QJ	£3,596	57	2	Flat
£202K	11/20	0.81 mi	19, Tamar Rise, Chelmsford, Essex CM1 7QL	£3,673	55	2	Flat
£140K	07/21	0.82 mi	62, Godfreys Mews, Chelmsford, Essex CM2 0XE	£3,067	46	2	Flat
£172K	11/20	0.83 mi	168, Kings Road, Chelmsford, Essex CM1 2BE	£4,095	42	2	Flat
£245K	02/21	0.84 mi	11, Lynmouth Gardens, Chelmsford, Essex CM2 0UH	£3,356	73	2	Flat
£245K	02/21	0.84 mi	11, Lynmouth Gardens, Chelmsford, Essex CM2 0UH	£3,356	73	2	Flat
£275K	10/20	0.84 mi	5, Lynmouth Gardens, Chelmsford, Essex CM2 0UH	£4,044	68	2	Flat
£300K	03/21	0.84 mi	48, Lockside Marina, Chelmsford, Essex CM2 6HF	£4,762	63	2	Flat
£252.5K	02/21	0.84 mi	75, Lockside Marina, Chelmsford, Essex CM2 6HF	£4,208	60	2	Flat
£215K	06/23	0.86 mi	73, Tamar Rise, Chelmsford, Essex CM1 7QL	£3,707	58	2	Flat
£212.5K	04/21	0.86 mi	73, Tamar Rise, Chelmsford, Essex CM1 7QL	£3,664	58	2	Flat
£195K	03/23	0.86 mi	63, Tamar Rise, Chelmsford, Essex CM1 7QL	£3,421	57	2	Flat

Local Rents

50 rents from £1.1K/mo to £3.3K/mo, average is £1.5K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,475	04/24	0 mi	New Street, Chelmsford, CM1	2	Flat
£1,450	04/24	0 mi	New Street, Chelmsford, Essex	2	House
£1,475	04/24	0 mi	New Street, Chelmsford, CM1	2	Flat
£1,500	04/24	0.01 mi	New Street, Chelmsford, Essex, CM1	2	Flat
£1,200	04/24	0.01 mi	New Street, City Centre	2	Flat
£1,350	04/24	0.01 mi	New Street, Chelmsford	2	Flat
£1,400	01/25	0.02 mi	-	2	Flat
£3,300	02/24	0.03 mi	-	2	Flat
£1,400	05/24	0.05 mi	Bishop Road, CM1	2	Terraced House
£1,150	05/24	0.05 mi	Durrant Court, Brook Street, CM1	2	Flat
£1,250	04/24	0.06 mi	Durrant Court, Brook Street, Chelmsford, CM1	2	Flat
£1,350	03/24	0.06 mi	Victoria Court, New Street, CM1	2	Flat
£1,550	04/24	0.1 mi	Dunn Side, Chelmsford, CM1	2	Flat
£1,550	05/24	0.1 mi	-	2	Flat
£1,550	04/24	0.1 mi	-	2	Flat
£1,550	04/24	0.14 mi	Dunn Side, Chelmsford	2	Flat
£1,550	04/24	0.14 mi	Dunn Side, Chelmsford	2	Flat
£1,600	04/24	0.15 mi	Watson Heights, Chelmsford, Essex, CM1	2	Flat
£1,450	03/24	0.15 mi	Watson Heights, Chelmsford, Essex, CM1	2	Flat
£1,500	04/24	0.15 mi	Watson Heights, Chelmsford, Essex, CM1	2	Flat
£1,500	12/24	0.15 mi	Watson Heights, City Centre	2	Flat
£1,595	04/24	0.16 mi	Watson Heights, Chelmsford, Essex, CM1	2	Flat
£1,550	05/24	0.16 mi	-	2	Flat
£1,550	05/24	0.16 mi	Watson Heights, Chelmsford, CM1	2	Flat
£1,500	04/24	0.17 mi	Victoria Court, New Street, Chelmsford, CM1	2	Flat
£1,450	05/24	0.17 mi	Victoria Court, New Street, Chelmsford, CM1	2	Flat
£1,550	05/24	0.17 mi	Watson Heights, Chelmsford	2	Flat
£1,500	02/24	0.17 mi	-	2	Terraced House
£1,350	04/24	0.17 mi	New Street, Chelmsford, CM1	2	Flat
£1,400	04/24	0.17 mi	Victoria Court, New Street, Chelmsford, CM1	2	Flat
£1,400	03/24	0.17 mi	New Street, Chelmsford	2	Flat
£1,500	03/24	0.18 mi	Victoria Court, New Street, Chelmsford, Essex, CM1	2	Flat
£1,390	03/24	0.19 mi	Henry Road, Chelmsford	2	Terraced House
£1,775	03/25	0.19 mi	-	2	Flat
£1,700	03/24	0.19 mi	Regina Road, Chelmsford	2	Flat
£1,575	03/24	0.2 mi	Victoria Road, Chelmsford	2	Flat
£1,200	04/24	0.2 mi	Victoria Court, Chelmsford	2	Flat
£1,600	04/24	0.2 mi	Victoria Court, Chelmsford	2	Flat
£1,600	04/24	0.2 mi	Victoria Court, Chelmsford	2	Flat
£1,400	04/24	0.2 mi	Victoria Court, CITY CENTRE, Chelmsford, CM1 1GP	2	Flat
£1,600	05/24	0.21 mi	-	2	Flat
£1,550	03/24	0.21 mi	Victoria Road, Chelmsford	2	Flat
£1,500	04/24	0.21 mi	City Place, Victoria Road, Chelmsford	2	Flat
£1,550	04/24	0.21 mi	Flat 1 7 Victoria Road Chelmsford CM1 1NZ	2	Flat
£1,550	04/24	0.22 mi	Marconi Road, Chelmsford	2	Semi-Detached House
£1,600	02/24	0.23 mi	-	2	Flat
£1,400	04/24	0.24 mi	Victoria Crescent, Chelmsford	2	Terraced House
£1,400	04/24	0.24 mi	Victoria Crescent, Chelmsford	2	Semi-Detached House
£1,400	04/24	0.24 mi	Victoria Crescent, CITY CENTRE, Chelmsford, CM1 1QF	2	House
£1,400	03/25	0.25 mi	-	2	Terraced House

Local Area Statistics

Population in CM1	62,61762,617
Population in Chelmsford	174,693174,693
Town centre distance	0.44 miles away0.44 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.36 miles away0.36 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+18%+18%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+11%+11%

Property History

Price changed to £200,000

March 20, 2025

Listed for £220,000

December 5, 2024

Floor Plans

Description

GUIDE PRICE £200,000 - £220,000

* NO ONWARD CHAIN

* ALLOCATED PARKING SPACE

* APARTMENT

* TWO GOOD SIZE BEDROOMS

* 14'3" LIVING ROOM

* 11'6" KITCHEN

* BALCONY

* PHONE ENTRY SYSTEM

* WELL LOCATED FOR CHELMSFORD HIGH STREET

*Secure agreement available

LEASE: 103 YEARS REMAINING
SERVICE CHARGE: £445 PAID QUARTERLY
GROUND RENT: £150 PER ANNUM
COUNCIL TAX BAND: C

Agent Details

Balgores, Chelmsford

01245 945679

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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Cashflows

Local Sold Prices

Local Rents