2 Bed Flat, Single Let, Colchester, CO2 8XY, £140,000

22 Heia Wharf Hawkins Road Colchester CO2 8XY - 4 views - 5 months ago

Leasehold

BTL

ROI: 14%

41 m²

+6 photos

ValuationOvervalued

Sold Prices	£120K - £268K
Sold Prices/m²	£1.8K/m² - £3.5K/m²

Square Metres	41 m²
Price/m²	£3.4K/m²
Value Estimate	£110,209£110,209

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£35,000£35,000
Stamp Duty & Legal Fees	£8,200£8,200
Total Cash In	£43,200£43,200

Cash Out
Rent Range	£950 - £1,450£950 - £1,450
Rent Estimate	£1,200
Running Costs/mo	£698£698
Cashflow/mo	£503£503
Cashflow/yr	£6,030£6,030
ROI	14%14%
Gross Yield	10%10%

Local Sold Prices

50 sold prices from £120K to £268K, average is £165K. £1.8K/m² to £3.5K/m², average is £2.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£180K	02/21	0.02 mi	37 Sail House, Ship Wharf, Colchester, Essex CO2 8YP	£2,727	66	2	Flat
£205K	05/23	0.02 mi	65 Sail House, Ship Wharf, Colchester, Essex CO2 8YP	£2,440	84	2	Flat
£147K	03/21	0.02 mi	71 Sail House, Ship Wharf, Colchester, Essex CO2 8YP	£2,100	70	2	Flat
£185K	12/22	0.07 mi	6, Caelum Drive, Colchester, Essex CO2 8FP	£2,721	68	2	Flat
£176.5K	06/23	0.09 mi	3, Caelum Drive, Colchester, Essex CO2 8FN	-	-	2	Flat
£157.5K	11/20	0.1 mi	3, Meachen Road, Colchester, Essex CO2 8JD	£2,316	68	2	Flat
£130K	04/23	0.1 mi	45, Meachen Road, Colchester, Essex CO2 8JD	£2,281	57	2	Flat
£173K	12/20	0.14 mi	9, Meachen Road, Colchester, Essex CO2 8JD	£2,307	75	2	Flat
£170K	06/23	0.23 mi	343, Quayside Drive, Colchester, Essex CO2 8GT	£3,333	51	2	Flat
£162K	06/23	0.27 mi	Flat 9, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB	£2,571	63	2	Flat
£145K	01/21	0.27 mi	Flat 15, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB	-	-	2	Flat
£145K	03/21	0.27 mi	Flat 8, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB	-	-	2	Flat
£120K	01/21	0.29 mi	18, Haddon Park, Colchester, Essex CO1 2GX	£2,222	54	2	Flat
£165K	06/23	0.29 mi	18, Haddon Park, Colchester, Essex CO1 2GX	£3,056	54	2	Flat
£182K	01/23	0.33 mi	114, Albany Gardens, Colchester, Essex CO2 8HU	-	-	2	Flat
£182K	07/23	0.34 mi	4, Tarrett Drive, Colchester, Essex CO1 2NJ	£3,049	60	2	Flat
£202.5K	01/21	0.35 mi	9, Waterside Lane, Colchester, Essex CO2 8HW	£2,470	82	2	Flat
£178K	03/23	0.35 mi	13, Waterside Lane, Colchester, Essex CO2 8HW	£2,691	66	2	Flat
£140K	03/21	0.35 mi	155, Hythe Hill, Colchester, Essex CO1 2NG	£2,373	59	2	Flat
£140K	03/21	0.35 mi	155, Hythe Hill, Colchester, Essex CO1 2NG	£2,373	59	2	Flat
£165K	05/21	0.35 mi	156, Hythe Hill, Colchester, Essex CO1 2NG	£1,755	94	2	Flat
£177K	07/23	0.37 mi	161, Albany Gardens, Colchester, Essex CO2 8HQ	£2,425	73	2	Flat
£268K	10/21	0.38 mi	25, Hythe Hill, Colchester, Essex CO1 2NB	£2,913	92	2	Flat
£162K	05/21	0.6 mi	12, Saw Mill Road, Colchester, Essex CO1 2ZQ	£3,057	53	2	Flat
£194K	10/20	0.62 mi	7, Sadler Close, Colchester, Essex CO2 7LU	£3,464	56	2	Flat
£175K	06/21	0.62 mi	13, Sadler Close, Colchester, Essex CO2 7LU	£3,125	56	2	Flat
£170K	07/21	0.62 mi	2, Sadler Close, Colchester, Essex CO2 7LU	£3,036	56	2	Flat
£165K	05/23	0.65 mi	20, Dewberry Close, Colchester, Essex CO4 3RT	£2,273	73	2	Flat
£148K	06/23	0.65 mi	7, Alyssum Walk, Colchester, Essex CO4 3RW	£1,897	78	2	Flat
£165K	06/21	0.67 mi	Flat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG	-	-	2	Flat
£150K	01/21	0.73 mi	141, George Williams Way, Colchester, Essex CO1 2JR	£3,000	50	2	Flat
£176K	07/23	0.73 mi	139, George Williams Way, Colchester, Essex CO1 2JR	-	-	2	Flat
£171K	12/22	0.73 mi	191, George Williams Way, Colchester, Essex CO1 2JR	£3,167	54	2	Flat
£161K	08/21	0.73 mi	78, George Williams Way, Colchester, Essex CO1 2JZ	£3,438	47	2	Flat
£146.5K	01/21	0.73 mi	42, George Williams Way, Colchester, Essex CO1 2JZ	£2,513	58	2	Flat
£150K	06/21	0.73 mi	24, George Williams Way, Colchester, Essex CO1 2JZ	-	-	2	Flat
£155K	02/21	0.75 mi	30, Steed Crescent, Colchester, Essex CO2 7SJ	£2,313	67	2	Flat
£142K	11/20	0.76 mi	16, Dorchester End, Colchester, Essex CO2 8AR	£3,087	46	2	Flat
£163.5K	10/20	0.76 mi	9, Cooper Walk, Colchester, Essex CO4 3RU	£1,924	85	2	Flat
£130K	12/20	0.76 mi	28, Dorchester End, Colchester, Essex CO2 8AR	£2,754	47	2	Flat
£245K	05/21	0.77 mi	Flat 25, The Mill Apartments, East Street, Colchester, Essex CO1 2QT	-	-	2	Flat
£143K	12/20	0.77 mi	106, St Andrews Gardens, Colchester, Essex CO4 3EH	£2,497	57	2	Flat
£240K	10/22	0.77 mi	22, Grosvenor Place, Colchester, Essex CO1 2ZD	£3,380	71	2	Flat
£242K	06/21	0.78 mi	132, Magnolia Drive, Colchester, Essex CO4 3LX	£2,519	96	2	Flat
£217.5K	04/21	0.79 mi	49, Grosvenor Place, Colchester, Essex CO1 2ZD	£2,685	81	2	Flat
£170K	03/21	0.79 mi	14, Grosvenor Place, Colchester, Essex CO1 2ZD	£3,036	56	2	Flat
£197.5K	03/23	0.79 mi	29, Grosvenor Place, Colchester, Essex CO1 2ZD	£3,140	63	2	Flat
£160K	10/21	0.79 mi	54a, Barrington Road, Colchester, Essex CO2 7RW	£3,200	50	2	Flat
£150K	02/23	0.8 mi	18, Siena Mews, Colchester, Essex CO2 8YB	£2,895	52	2	Flat
£150K	11/20	0.8 mi	5, George Williams Way, Colchester, Essex CO1 2JP	£2,679	56	2	Flat

Local Rents

50 rents from £950/mo to £1.4K/mo, average is £1.2K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,250	12/24	0 mi	Hawkins Road, Colchester, Essex, CO2	2	Flat
£1,125	12/24	0 mi	Hawkins Road, Colchester, Essex, CO2	2	Flat
£1,250	12/24	0 mi	Hawkins Road, Colchester, Essex, CO2	2	Flat
£1,250	12/24	0 mi	Heia Wharf, Hawkins Road	2	Flat
£1,200	12/24	0.02 mi	Heia Wharf, Hawkins Road, Hythe	2	Flat
£1,150	12/24	0.02 mi	Ship Wharf, Colchester, Essex, CO2	2	Flat
£1,300	12/24	0.02 mi	Sail House , Colchester	2	Flat
£1,250	12/24	0.02 mi	Sail House, Colchester	2	Flat
£1,250	12/24	0.02 mi	Sail House, Colchester	2	Flat
£1,450	12/24	0.02 mi	Sail House, Ship Wharf	2	Flat
£1,300	12/24	0.02 mi	Ship Wharf, Hawkins Road, Hythe	2	Flat
£1,175	12/24	0.02 mi	Ship Wharf, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.02 mi	Sail House, Ship Wharf	2	Flat
£1,175	12/24	0.02 mi	-	2	Flat
£1,250	12/24	0.03 mi	Heia Wharf, Hawkins Road , Colchester	2	Flat
£950	01/25	0.05 mi	-	2	Flat
£1,395	12/24	0.05 mi	Keel Point, Ship Wharf, Hythe	2	Flat
£1,300	12/24	0.05 mi	-	2	Flat
£1,250	12/24	0.05 mi	-	2	Flat
£1,150	12/24	0.06 mi	Maria Court, Hesper Road, Colchester, Essex, CO2	2	Flat
£995	12/24	0.06 mi	Hesper Road, Maria Court	2	Flat
£1,200	12/24	0.06 mi	Hesper Road, Hythe	2	Flat
£1,200	12/24	0.06 mi	Ship Wharf, Colchester, Essex, CO2	2	Flat
£1,250	12/24	0.06 mi	Caelum, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.06 mi	Ship Wharf, Colchester, Essex, CO2	2	Flat
£1,250	12/24	0.06 mi	Keel Point, Colchester	2	Flat
£1,250	12/24	0.06 mi	Keel Point, Hawkins Road	2	Flat
£1,300	12/24	0.06 mi	Keel Point, Hawkins Road	2	Flat
£1,250	12/24	0.06 mi	Keel Point, Ship Wharf	2	Flat
£1,250	12/24	0.06 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.07 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.08 mi	Maponite Buildings, Hawkins Road, Colchester, Essex, CO2	2	Flat
£1,195	12/24	0.08 mi	Caelum Drive, Hythe, Colchester	2	Flat
£1,200	01/25	0.08 mi	-	2	Flat
£1,175	12/24	0.09 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.09 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.09 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,125	12/24	0.09 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,300	12/24	0.09 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.09 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,200	12/24	0.09 mi	Caelum Drive, Colchester	2	Flat
£1,200	12/24	0.09 mi	Caelum Drive, Colchester	2	Flat
£1,200	12/24	0.09 mi	Caelum Drive, Colchester	2	Flat
£1,125	12/24	0.09 mi	Caelum Drive, Colchester, Essex, CO2	2	Flat
£1,050	12/24	0.1 mi	Meachen Road, Colchester, Essex	2	Flat
£1,200	04/25	0.12 mi	-	2	Flat
£1,200	12/24	0.17 mi	Spiritus House, Hawkins Road, Colchester	2	Flat
£1,250	12/24	0.17 mi	Hardies Point, Hawkins Road, Colchester	2	Flat
£1,150	12/24	0.17 mi	Hardies Point	2	Flat
£1,200	12/24	0.17 mi	Hardie's Point, Colchester, Essex, CO2	2	Flat

Local Area Statistics

Population in CO2	33,44033,440
Population in Colchester	214,734214,734
Town centre distance	1.75 miles away1.75 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	0.22 miles away0.22 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+63%+63%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+27%+27%

Property History

Price changed to £140,000

January 27, 2025

Listed for £150,000

December 7, 2024

Description

INVESTMENT PROPERTY +
TWO DOUBLE BEDROOMS +
EN-SUITE TO MASTER BEDROOM +
OPEN PLAN LIVING AREA +
PERSONAL BALCONY WITH RIVER VIEWS +
MONTHLY RENT OF Â£1200PCM BEING ACHIEVED +
ALLOCATED PARKING +
EASY REACH OF THE UNIVERSITY OF ESSEX +
LOCAL TO SHOPS +

OVERVIEW * GUIDE PRICE OF £140,000 - £160,000 *

Ideally located within easy reach of The University Of Essex is this two double bedroom apartment located on the fifth floor. The property is currently let on a short hold tenancy agreement achieving Â£1200pcm giving a gross annual yield of 8.2% to 9.6% depending on the guide price . The accommodation benefits from two bedrooms, the master has a personal en-suite and fitted wardrobes, open plan living area with a balcony overlooking the River Colne and allocated parking.

Communal Entrance Hall Stairs and lift to fourth floor.

Personal Entrance Hall Wood flooring, entry phone, electric heater, airing cupboard, double glazed window to rear.

BATHROOM White suite comprising of panelled bath with shower over, mixer taps and glass screen. Low level wc, wash basin, heated towel rail, part tiled walls, extractor fan, obscure double glazed window to rear.

Master Bedroom 3.05m x 4.50m (10' x 14'9")
Double glazed window to front, electric heater, built in mirror sliding wardrobes.

EN SUITE Walk in shower, low level wc, wash basin, heated towel rail, part tiled walls, extractor fan.

Bedroom 2 3.73m x 2.74m (12'3" x 9') double glaze window facing the front, double glazed windows

Open Plan Lounge/Diner/Kitchen 7.29m x 3.73m (23'11" x 12'3") Lounge/Diner: Wooden floor, two electric heaters, double glazed sliding patio doors to front lead balcony overlooking river Colne.

Kitchen: Stainless steel one and a half bowl stainless steel sink unit with cupboards under, matching base and eye level units with roll top work surfaces. Built in oven, hob and chimney extractor hood. Integrated washer dryer, fridge and freezer. Double glazed window to rear.

OUTSIDE allocated parking

Agent Details

John Alexander, Colchester

01206 586126

Next Steps?

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

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