2 Bed Flat, Single Let, Chelmsford, CM1 2GH, £220,000

Wicks Place, Chelmsford, CM1 2GH - 2 views - 4 months ago

Leasehold

BTL

ROI: 6%

~68 m²

+3 photos

ValuationUndervalued

Sold Prices	£80.8K - £385K
Sold Prices/m²	£3.1K/m² - £5.5K/m²

Square Metres	~68.11 m²
Price/m²	£3.2K/m²
Value Estimate	£266,747£266,747
BMV	21%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£55,000£55,000
Stamp Duty & Legal Fees	£7,800£7,800
Total Cash In	£62,800£62,800

Cash Out
Rent Range	£1,200 - £2,800£1,200 - £2,800
Rent Estimate	£1,250
Running Costs/mo	£958£958
Cashflow/mo	£293£293
Cashflow/yr	£3,510£3,510
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £80.8K to £385K, average is £219K. £3.1K/m² to £5.5K/m², average is £3.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£220K	12/22	0.04 mi	18, Coval Lane, Chelmsford, Essex CM1 1TD	£3,667	60	2	Flat
£80.8K	03/21	0.13 mi	Flat 54, Wells Crescent, Viaduct Road, Chelmsford, Essex CM1 1GR	-	-	2	Flat
£205.5K	09/21	0.14 mi	Flat 27, Spalding Court, Cedar Avenue, Chelmsford, Essex CM1 2UZ	-	-	2	Flat
£253K	02/21	0.15 mi	42, Railway Street, Chelmsford, Essex CM1 1QS	£3,485	73	2	Flat
£218K	03/21	0.17 mi	24, Rainsford Lane, Chelmsford, Essex CM1 2QR	£3,701	59	2	Flat
£282.5K	11/21	0.17 mi	4, Alma Drive, Chelmsford, Essex CM1 1TW	£3,924	72	2	Flat
£85K	06/21	0.19 mi	Flat 4, Fenton Court, Burgess Springs, Chelmsford, Essex CM1 1HW	-	-	2	Flat
£212K	11/20	0.33 mi	73, Goodier Road, Chelmsford, Essex CM1 2GG	£4,240	50	2	Flat
£232.5K	06/21	0.33 mi	18, Goodier Road, Chelmsford, Essex CM1 2GG	£4,688	50	2	Flat
£233K	12/21	0.33 mi	41, Goodier Road, Chelmsford, Essex CM1 2GG	£3,426	68	2	Flat
£220K	02/21	0.33 mi	24, Goodier Road, Chelmsford, Essex CM1 2GG	£4,314	51	2	Flat
£248K	04/23	0.33 mi	20, Goodier Road, Chelmsford, Essex CM1 2GG	£4,679	53	2	Flat
£310K	05/23	0.34 mi	Flat 56, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£320K	07/23	0.34 mi	Flat 47, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£313K	06/21	0.35 mi	Flat 31, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£325K	01/23	0.41 mi	Flat 32, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW	-	-	2	Flat
£285K	04/21	0.42 mi	102, Watson Heights, Chelmsford, Essex CM1 1AF	£3,958	72	2	Flat
£275K	03/21	0.45 mi	34, Hayes Close, Chelmsford, Essex CM2 0RN	£3,986	69	2	Flat
£280K	09/21	0.46 mi	3, County Place, Chelmsford, Essex CM2 0RF	£4,590	61	2	Flat
£232K	05/21	0.49 mi	82, Stapleford Close, Chelmsford, Essex CM2 0QX	£4,640	50	2	Flat
£232K	05/21	0.49 mi	82, Stapleford Close, Chelmsford, Essex CM2 0QX	£4,640	50	2	Flat
£250K	06/21	0.49 mi	98, Stapleford Close, Chelmsford, Essex CM2 0QX	£4,717	53	2	Flat
£215K	01/23	0.49 mi	47, Stapleford Close, Chelmsford, Essex CM2 0RB	£4,135	52	2	Flat
£223K	11/21	0.5 mi	38, Stapleford Close, Chelmsford, Essex CM2 0RB	£4,288	52	2	Flat
£385K	06/23	0.54 mi	89, Bond Street, Chelmsford, Essex CM1 1GD	-	-	2	Flat
£180K	05/23	0.55 mi	131, Kings Road, Chelmsford, Essex CM1 2BD	£4,286	42	2	Flat
£307.5K	07/23	0.56 mi	30, Bradford Street, Chelmsford, Essex CM2 0FJ	£4,212	73	2	Flat
£215K	04/21	0.58 mi	39, Haig Court, Chelmsford, Essex CM2 0BH	£3,413	63	2	Flat
£195K	03/23	0.58 mi	8, Haig Court, Chelmsford, Essex CM2 0BH	£3,545	55	2	Flat
£260K	01/21	0.59 mi	39, Upper Bridge Road, Chelmsford, Essex CM2 0AZ	£4,127	63	2	Flat
£172K	11/20	0.59 mi	168, Kings Road, Chelmsford, Essex CM1 2BE	£4,095	42	2	Flat
£207.5K	05/23	0.6 mi	66, Haig Court, Chelmsford, Essex CM2 0BJ	£3,705	56	2	Flat
£195K	03/21	0.63 mi	74, Parkinson Drive, Chelmsford, Essex CM1 3GH	£3,679	53	2	Flat
£195K	01/23	0.64 mi	72, Parkinson Drive, Chelmsford, Essex CM1 3GH	£3,482	56	2	Flat
£140K	07/21	0.66 mi	62, Godfreys Mews, Chelmsford, Essex CM2 0XE	£3,067	46	2	Flat
£225K	10/21	0.66 mi	193, Rookes Crescent, Chelmsford, Essex CM1 3GN	£5,357	42	2	Flat
£218K	04/21	0.66 mi	187, Rookes Crescent, Chelmsford, Essex CM1 3GN	£3,105	70	2	Flat
£184K	12/20	0.67 mi	108, Crompton Street, Chelmsford, Essex CM1 3GP	£3,286	56	2	Flat
£240K	10/21	0.68 mi	Flat 4, King George Court, Moulsham Street, Chelmsford, Essex CM2 0JE	-	-	2	Flat
£225K	10/21	0.69 mi	20, Parkinson Drive, Chelmsford, Essex CM1 3GH	£3,814	59	2	Flat
£215K	04/21	0.69 mi	58, Parkinson Drive, Chelmsford, Essex CM1 3GH	£3,909	55	2	Flat
£190K	06/21	0.69 mi	64, Parkinson Drive, Chelmsford, Essex CM1 3GH	£3,585	53	2	Flat
£250K	07/23	0.7 mi	92a, Moulsham Street, Chelmsford, Essex CM2 0JF	£5,532	45	2	Flat
£197.5K	01/21	0.71 mi	29, Rookes Crescent, Chelmsford, Essex CM1 3GL	£3,675	54	2	Flat
£213K	10/20	0.71 mi	5, Rookes Crescent, Chelmsford, Essex CM1 3GL	£3,797	56	2	Flat
£197K	04/23	0.71 mi	23, Rookes Crescent, Chelmsford, Essex CM1 3GL	£3,455	57	2	Flat
£205K	01/23	0.71 mi	39, Evelyn Place, Chelmsford, Essex CM1 3GZ	£3,631	56	2	Flat
£160K	12/20	0.71 mi	Flat 201, Balmoral Court, Springfield Road, Chelmsford, Essex CM2 6JQ	-	-	2	Flat
£186K	08/21	0.72 mi	29, Evelyn Place, Chelmsford, Essex CM1 3GZ	£3,152	59	2	Flat
£202K	03/23	0.72 mi	35, Evelyn Place, Chelmsford, Essex CM1 3GZ	£4,122	49	2	Flat

Local Rents

50 rents from £1.2K/mo to £2.8K/mo, average is £1.5K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,625	04/24	0 mi	Wicks Place, CHELMSFORD	2	Flat
£1,495	04/24	0 mi	Wicks Place, CHELMSFORD	2	Flat
£1,565	12/24	0 mi	Wicks Place, Chelmsford City Centre	2	Flat
£1,695	12/24	0 mi	Wicks Place, Chelmsford City Centre	2	Flat
£2,800	05/24	0.01 mi	-	2	Flat
£1,550	03/25	0.01 mi	-	2	Flat
£2,800	02/25	0.01 mi	-	2	Flat
£2,800	01/25	0.01 mi	-	2	Flat
£2,800	01/25	0.01 mi	-	2	Flat
£1,300	03/25	0.04 mi	-	2	Flat
£2,350	04/25	0.04 mi	-	2	Flat
£1,295	04/24	0.06 mi	Lesley Court, Rainsford Road, Chelmsford	2	Flat
£1,350	04/24	0.06 mi	West One, 7-13 Rainsford Road, Chelmsford	2	Flat
£1,300	01/24	0.07 mi	-	2	Flat
£2,500	02/25	0.1 mi	-	2	Flat
£1,200	04/24	0.1 mi	-	2	Flat
£1,500	05/24	0.11 mi	Wells Crescent, Chelmsford	2	Flat
£1,500	04/24	0.11 mi	Rainsford Road, CHELMSFORD	2	Flat
£1,450	03/24	0.11 mi	Rainsford Road, Chelmsford	2	Flat
£1,525	03/24	0.11 mi	Rainsford Road, Chelmsford	2	Flat
£1,450	04/24	0.11 mi	Rainsford Road, Chelmsford	2	Flat
£1,500	03/24	0.12 mi	Kings Tower, Chelmsford	2	Flat
£1,250	04/24	0.12 mi	-	2	Flat
£1,250	04/24	0.12 mi	South Primrose Hill, Chelmsford, CM1	2	Flat
£1,450	03/24	0.13 mi	Kings Tower, Chelmsford	2	Flat
£1,500	04/24	0.13 mi	Kings Tower, City Centre	2	Flat
£1,500	05/24	0.13 mi	Wells Crescent, Town Centre	2	Flat
£1,450	05/24	0.13 mi	Marconi Plaza, Chelmsford	2	Flat
£1,350	05/24	0.15 mi	Cedar Avenue West, Chelmsford	2	Flat
£1,700	11/23	0.15 mi	Railway Street, Chelmsford	2	Flat
£1,495	04/24	0.16 mi	Duke Street, Chelmsford	2	Flat
£1,495	04/24	0.16 mi	Duke Street, Chelmsford, Essex, CM1	2	Flat
£1,600	03/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,625	03/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,600	03/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,575	04/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,525	04/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,600	05/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,600	05/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,600	05/24	0.17 mi	Burgess Springs, Chelmsford, CM1	2	Flat
£1,600	03/24	0.18 mi	Burgess Springs, CHELMSFORD	2	Flat
£1,565	04/24	0.18 mi	Middleditch Court, Burgess Springs, CHELMSFORD	2	Flat
£1,650	02/24	0.19 mi	-	2	Terraced House
£1,250	03/24	0.19 mi	Becketts Court, Chelmsford	2	Flat
£1,400	04/24	0.19 mi	South Primrose Hill, Chelmsford	2	Terraced House
£1,300	04/24	0.19 mi	Steamer Terrace, Chelmsford	2	Terraced House
£1,550	01/25	0.19 mi	-	2	Terraced House
£1,490	01/25	0.19 mi	-	2	Terraced House
£1,495	02/25	0.19 mi	-	2	Terraced House
£1,400	03/25	0.19 mi	-	2	Terraced House

Local Area Statistics

Population in CM1	62,61762,617
Population in Chelmsford	174,693174,693
Town centre distance	0.07 miles away0.07 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.18 miles away0.18 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

Listed for £220,000

December 21, 2024

Floor Plans

Description

Modern +
Excellent Location +
2 Balconies +
Kitchen With Appliances +
Allocated Parking +
Gas Heating +
Recently Installed Boiler +
Top Floor +

Guide Price - £220,000 - £240,000

ENTRANCE HALL Communal door, security entry phone system, stairs to top floor

Private front door into hallway, carpeted, doors to all rooms

KITCHEN/LOUNGE 25' 1" x 15' 9" (7.65m x 4.8m) Lounge - Carpeted, 2 sets of French doors that open out to a balcony, TV point, telephone point
Kitchen - Vinyl flooring, modern fitted kitchen with fridge freezer, integrated washing machine & dishwasher, built in oven, hob & extractor fan

MAIN BEDROOM 11' 8" x 10' 9" (3.56m x 3.28m) Carpeted, built in wardrobes, French doors to balcony

BEDROOM TWO 9' 6" x 6' 7" (2.9m x 2.01m) Carpeted, window to rear

BATHROOM 9' 6" x 7' 5" (2.9m x 2.26m) Vinyl flooring, white suite comprising sink, WC & bath with shower above

PARKING Allocated parking space for 1 car

HEATING Gas central heating

ENSUITE 6' 7" x 3' 4" (2.01m x 1.02m)

Agent Details

Martin & Co, Chelmsford

01245 945730

Next Steps?

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