2 Bed Flat, Single Let, Colchester, CO1 1PE, £140,000

Eld Lane, Colchester, CO1 1PE - 4 months ago

Sold STC
Leasehold
BTL
ROI: 7%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£90K - £307K
Sold Prices/m²£1.5K/m² - £4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£169,400
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£8,500

Total Cash In

£43,500

 

 

Cash Out

 

Rent Range

£750 - £2,900

Rent Estimate

£900

Running Costs/mo

£638

Cashflow/mo

£263

Cashflow/yr

£3,150

ROI

7%

Gross Yield

8%

Local Sold Prices

50 sold prices from £90K to £307K, average is £172.8K. £1.5K/m² to £4K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£90K05/210.24 mi5, The Dell, Colchester, Essex CO1 2YH2
£150K03/210.28 mi101, Nicholsons Grove, Colchester, Essex CO1 2XT2
£150K11/220.3 mi30, Nunns Road, Colchester, Essex CO1 1EJ2
£145K02/210.34 mi15, St Augustine Mews, Colchester, Essex CO1 2PF2
£160K09/220.37 mi45, George Williams Way, Colchester, Essex CO1 2JP2
£150K11/200.37 mi5, George Williams Way, Colchester, Essex CO1 2JP2
£159K05/210.37 mi81, George Williams Way, Colchester, Essex CO1 2JP2
£150K03/210.37 miFlat 25, Stuart House, St Peters Street, Colchester, Essex CO1 1BQ2
£156.5K06/230.37 miFlat 30, Stuart House, St Peters Street, Colchester, Essex CO1 1BQ2
£145K09/210.37 miFlat 19, Charles House, St Peters Street, Colchester, Essex CO1 1BY2
£162K10/210.37 miFlat 18, Charles House, St Peters Street, Colchester, Essex CO1 1BY2
£255K09/210.39 mi16, Parkside Quarter, Colchester, Essex CO1 1EA2
£190K03/230.4 miFlat 3, Salter Court, St Marys Fields, Colchester, Essex CO3 3FF2
£138K06/210.4 mi1a, Alexandra Road, Colchester, Essex CO3 3DB2
£307K12/220.42 mi61, Henry Laver Court, Colchester, Essex CO3 3DY2
£161K08/210.44 mi78, George Williams Way, Colchester, Essex CO1 2JZ2
£146.5K01/210.44 mi42, George Williams Way, Colchester, Essex CO1 2JZ2
£150K06/210.44 mi24, George Williams Way, Colchester, Essex CO1 2JZ2
£150K01/210.44 mi141, George Williams Way, Colchester, Essex CO1 2JR2
£176K07/230.44 mi139, George Williams Way, Colchester, Essex CO1 2JR2
£171K12/220.44 mi191, George Williams Way, Colchester, Essex CO1 2JR2
£203K11/210.45 mi87, Henry Laver Court, Colchester, Essex CO3 3DY2
£260K11/220.45 mi26, Captain Gardens, Colchester, Essex CO2 7FX2
£195K11/210.5 mi76, Salisbury Avenue, Colchester, Essex CO3 3DN2
£190K09/220.5 mi4, York Place, Colchester, Essex CO1 2RF2
£180K09/210.51 mi78, Salisbury Avenue, Colchester, Essex CO3 3DN2
£172.5K11/220.52 miFlat 10, The Nexus, Victoria Chase, Colchester, Essex CO1 1WJ2
£180K03/230.53 mi73, Victoria Chase, Colchester, Essex CO1 1WB2
£175K04/230.53 mi113, Victoria Chase, Colchester, Essex CO1 1WB2
£165K06/210.54 miFlat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG2
£185K09/220.55 mi86, Victoria Chase, Colchester, Essex CO1 1WN2
£190K01/230.55 mi102, Sheepen Place, Colchester, Essex CO3 3LT2
£162K05/210.57 mi12, Saw Mill Road, Colchester, Essex CO1 2ZQ2
£245K05/210.59 miFlat 25, The Mill Apartments, East Street, Colchester, Essex CO1 2QT2
£160K04/210.6 mi156, Victoria Chase, Colchester, Essex CO1 1WW2
£152.5K04/210.6 mi138, Victoria Chase, Colchester, Essex CO1 1WW2
£217.5K04/210.61 mi49, Grosvenor Place, Colchester, Essex CO1 2ZD2
£170K03/210.61 mi14, Grosvenor Place, Colchester, Essex CO1 2ZD2
£197.5K03/230.61 mi29, Grosvenor Place, Colchester, Essex CO1 2ZD2
£240K10/220.63 mi22, Grosvenor Place, Colchester, Essex CO1 2ZD2
£215K11/220.63 mi112, Rotary Way, Colchester, Essex CO3 3LG2
£171K11/220.63 mi143, Rotary Way, Colchester, Essex CO3 3LJ2
£175K08/210.64 mi148, Rotary Way, Colchester, Essex CO3 3LG2
£232.5K07/230.64 mi59, Rotary Way, Colchester, Essex CO3 3LJ2
£173K10/220.64 mi80, Rotary Way, Colchester, Essex CO3 3LG2
£160K04/210.64 mi27, Rotary Way, Colchester, Essex CO3 3LJ2
£195K03/210.64 miFlat 1, Cumberland Court, Oaks Drive, Colchester, Essex CO3 3PR2
£197.5K02/230.69 mi32, Rouse Way, Colchester, Essex CO1 2TT2
£200K03/210.69 mi26, Rouse Way, Colchester, Essex CO1 2TT2
£185K02/230.69 mi17, Rouse Way, Colchester, Essex CO1 2TT2

Local Rents

50 rents from £750/mo to £2.9K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,10003/240.06 miCulver Walk, Colchester, CO12
£1,29512/240.08 miHardies Point, , Colchester2
£1,10003/240.11 miHigh Street, Colchester, Essex, CO12
£1,00004/240.11 miHigh Street, Colchester, Essex, CO12
£90012/240.11 miMeryls Court, 28 St Botolphs Street, Colchester, 2
£1,10003/240.12 miTrinity Street, Colchester, Essex, CO12
£2,90012/240.12 mi-2
£1,45003/240.14 miCastle Bailey, Colchester2
£1,39505/240.14 miCastle Bailey, Colchester, Essex, CO12
£1,15003/240.16 miPriory Street, COLCHESTER2
£1,15003/240.16 miPriory Street, Colchester2
£1,13003/240.16 miPriory Street, Colchester2
£1,14503/240.16 miPriory Street, Colchester2
£1,14003/240.16 miPriory Street, Colchester2
£1,14004/240.16 miPriory Street, Colchester2
£1,15003/240.16 miPriory Street, Colchester, Essex, CO12
£1,05010/230.19 miCentral Colchester2
£1,00011/240.2 mi-2
£2,53503/250.21 mi-2
£1,15012/240.21 miCedars Road, Town Centre2
£1,05004/250.21 mi-2
£1,10005/240.24 miMaidenburgh Street, Colchester, Essex, CO12
£1,10012/240.24 mi-2
£1,25004/240.25 miWest Stockwell Street, Colchester2
£1,20003/240.25 miHead Street, Colchester2
£1,20012/240.25 miLondinium Road, Colchester2
£1,10003/240.26 miStockwell, Colchester, Essex, CO12
£1,20004/240.26 miThe Technique Building, Stockwell Street, Colchester, Essex, CO12
£1,25010/230.26 miCentral Colchester2
£1,25005/240.26 miDutch Quarter2
£95012/240.27 mi-2
£75004/240.27 miChurch Walk, Colchester2
£95004/240.28 miWest Stockwell Street, COLCHESTER2
£1,20012/240.28 miWellington Street, Colchester, Essex, CO22
£1,00004/250.28 mi-2
£1,29512/240.29 miLondinium Road, Colchester, Essex, CO22
£1,30004/250.29 mi-2
£1,00003/240.29 miNorth Hill, Colchester, Essex, CO12
£1,00003/240.29 miNorth Hill, Colchester, Essex, CO12
£1,00004/240.29 miNorth Hill, Colchester, Essex, CO12
£1,19503/240.3 miNorthgate Street, Colchester2
£92504/240.3 miNunns Road Colchester Essex2
£95012/240.3 miFairfax Road, COLCHESTER2
£1,20012/240.3 miFairfax Mews, Colchester2
£1,15003/240.31 miCastle Road, Colchester, Essex, CO12
£1,05004/240.32 miNorthgate Street, Colchester, CO1 1EZ2
£90005/240.32 miSt Peter's Street, Colchester, CO12
£90005/240.32 mi-2
£95001/250.32 mi-2
£1,10005/240.32 miColchester2

Local Area Statistics

Population in CO1

15,333

Population in Colchester

214,734

Town centre distance

0.61 miles away

Nearest school

0.20 miles away

Nearest train station

0.18 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £140,000

March 4, 2025

Listed for £150,000

December 26, 2024

Floor Plans

Description

  • NO ONWARD CHAIN +
  • First Floor Apartment With Tenant In Situ +
  • Lounge & Kitchen +
  • Two Bedrooms & Bathroom +
  • Well Presented Throughout +
  • City Centre Position +
  • INVESTMENT OPPORTUNITY +

SUMMARY
ATTENTION INVESTORS! Located in the heart of Colchester's city centre is this well presented two bedroom first floor apartment with tenant in situ. The property is offered with NO ONWARD CHAIN and is presented in good decorative order throughout with modern kitchen and bathroom.

DESCRIPTION
This modern first floor apartment is situated in the heart of Colchester in Eld Lane and is offered with tenant in situ and no ongoing chain. Accommodation comprises entrance hall, lounge/diner, kitchen. two bedrooms and bathroom. The property offers an ideal investment opportunity.

Communal Entrance Door To: 

Communal Entrance Hall 
With stairs and lift to first floor.

Entrance Door To: 

Entrance Hall 
Radiator, built-in storage cupboard, doors to:

Lounge 15' 3" x 13' 8" ( 4.65m x 4.17m )
Two upvc windows to rear, upvc window to side, radiator, wall mounted video telephone entry system.

Kitchen 14' 7" x 7' 9" ( 4.45m x 2.36m )
Upvc window to side, eye and base level units, roll top work surfaces, inset stainless steel single drainer sink unit with mixer tap and tiled splashbacks, integrated double electric oven, four ring hob with extractor fan over, spaces for washing machine and fridge/freezer, toiled flooring, radiator.

Bedroom One 13' 3" x 8' 1" ( 4.04m x 2.46m )
Upvc window to rear, radiator, double fitted wardrobe.

Bedroom Two 9' 4" x 6' 1" ( 2.84m x 1.85m )
Upvc window to rear, radiator.

Bathroom 
Low level w.c., vanity wash hand basin, panelled bath with mixer tap and shower over, tiled flooring, fully tiled walls, stainless steel heated towel rail, inset spotlights.

DIRECTIONS
Refer to map

We currently hold lease details as displayed above, should you require further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

William H. Brown, Colchester

01206 586061

Next Steps?

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