2 Bed Flat, Single Let, Norwich, NR1 2PE, £180,000

30 Patricia Road, Norwich - 3 months ago

Leasehold
BTL
ROI: 2%
~64 m²
+11 photos

ValuationOvervalued

Sold Prices£46.3K - £213.5K
Sold Prices/m²£756/m² - £4.4K/m²

 

 

Square Metres

~63.90 m²
Price/m²£2.8K/m²

Value Estimate

£155,616

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£45,000

Stamp Duty & Legal Fees

£10,200

Total Cash In

£55,200

 

 

Cash Out

 

Rent Range

£800 - £1,400

Rent Estimate

£850

Running Costs/mo

£753

Cashflow/mo

£98

Cashflow/yr

£1,170

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £46.3K to £213.5K, average is £150K. £756/m² to £4.4K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£143K04/210.01 mi39, Patricia Road, Norwich, Norfolk NR1 2PE2
£177K04/210.02 mi25, Patricia Road, Norwich, Norfolk NR1 2PE2
£174K11/200.02 mi19, Patricia Road, Norwich, Norfolk NR1 2PE2
£177.5K08/230.02 mi12, Patricia Road, Norwich, Norfolk NR1 2PE2
£212.5K05/230.06 mi28, Christopher Close, Norwich, Norfolk NR1 2PQ2
£210K10/230.06 mi25, Christopher Close, Norwich, Norfolk NR1 2PQ2
£213.5K02/240.06 mi9, Christopher Close, Norwich, Norfolk NR1 2PQ2
£200K04/240.14 mi45, St Albans Road, Norwich, Norfolk NR1 2QX2
£180K05/230.15 mi7, Lady Mary Road, Norwich, Norfolk NR1 2QZ2
£147.5K05/210.19 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£166K10/210.19 mi18, Ingram Court, Norwich, Norfolk NR1 2PY2
£162K01/230.21 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£138K01/240.22 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£150K04/230.23 mi9, Gamewell Close, Norwich, Norfolk NR1 2RP2
£162K04/230.24 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£107.5K12/230.24 mi79, Ingram Court, Norwich, Norfolk NR1 2HQ2
£146K10/200.24 mi11, Latimer Road, Norwich, Norfolk NR1 2RW2
£203K09/210.27 mi156, Brazen Gate, Norwich, Norfolk NR1 3SB2
£160K01/240.28 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£140K10/230.3 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£150K11/210.31 mi17, Randolf Road, Norwich, Norfolk NR1 2RY2
£152K10/210.32 mi26, Latimer Road, Norwich, Norfolk NR1 2RR2
£140K07/210.35 mi16, Gordon Square, Norwich, Norfolk NR1 3HJ2
£132.5K07/230.35 mi9, Gordon Square, Norwich, Norfolk NR1 3HJ2
£138K09/210.35 mi23, Gordon Square, Norwich, Norfolk NR1 3HJ2
£135K08/240.35 mi121, Springbank, Norwich, Norfolk NR1 2LH2
£150K03/210.37 miThe Second Floor Flat, 4, Grove Avenue, Norwich, Norfolk NR1 2QD2
£125K02/210.38 mi2, Suncroft, Long John Hill, Norwich, Norfolk NR1 2EP2
£113K05/210.38 mi34, Sunny Hill, Norwich, Norfolk NR1 2ET2
£125K06/210.38 mi24, Sunny Hill, Norwich, Norfolk NR1 2ET2
£165K10/230.38 miFlat 11, Marlborough House, Grove Road, Norwich, Norfolk NR1 3RQ2
£143K01/240.39 mi64, Lakenfields, Norwich, Norfolk NR1 2HA2
£128K01/210.4 mi50, Springbank, Norwich, Norfolk NR1 2LJ2
£140K08/220.45 mi82, Lakenham Road, Norwich, Norfolk NR4 6BB2
£158K11/230.45 mi94, Lakenham Road, Norwich, Norfolk NR4 6BB2
£137K05/210.45 mi80, Lakenham Road, Norwich, Norfolk NR4 6BB2
£160K05/230.48 mi15, Abbey Court, Norwich, Norfolk NR1 2AW2
£160K12/230.53 mi15, Eagle Walk, Norwich, Norfolk NR2 2JA2
£158K08/230.56 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.56 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£127K03/210.57 mi43, Cranage Road, Norwich, Norfolk NR1 2NE2
£150K10/210.59 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£168K05/230.6 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£190K03/230.61 mi29, Wessex Street, Norwich, Norfolk NR2 2TJ2
£92.5K12/220.61 mi17, Wessex Street, Norwich, Norfolk NR2 2TJ2
£200K01/230.61 mi7, Wessex Street, Norwich, Norfolk NR2 2TJ2
£46.3K03/210.61 mi39, Wessex Street, Norwich, Norfolk NR2 2TJ2
£150K03/230.61 mi81a, Scarlet Road, Norwich, Norfolk NR4 6BW2
£147.5K09/230.61 mi23, Scarlet Road, Norwich, Norfolk NR4 6BW2
£177K07/230.61 mi27, Kenneth Mckee Plain, Norwich, Norfolk NR2 2TH2

Local Rents

50 rents from £800/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,15003/250.06 mi-2
£1,05004/250.13 mi-2
£95006/240.15 miSt. Albans Road, Norwich, Norfolk, NR12
£87506/240.17 miIngram Court, Norwich2
£1,02512/240.19 miHatton Road, Norwich2
£1,10001/250.2 mi-2
£1,30004/250.22 mi-2
£1,30004/250.22 mi-2
£1,20004/250.22 mi-2
£85012/240.23 miGamewell Close, Lakenham, NORWICH2
£80012/240.26 mi-2
£1,05003/240.27 miBrazen Gate, Norwich, Norfolk, NR12
£1,20002/240.27 mi-2
£1,20012/240.27 mi-2
£1,00006/240.29 miCyprus Street, Norwich, Norfolk, NR12
£1,30001/250.31 mi-2
£1,00012/240.32 miTrafalgar Street, Norwich2
£1,20012/240.36 miCarlyle Road, Norwich2
£1,25012/240.37 miGrove Avenue, Norwich, Norfolk, NR12
£1,25012/240.37 miGrove Avenue, Norwich2
£1,20012/240.38 miAshby Street, NORWICH2
£97512/240.4 miRegina Road, NR1 3QZ2
£1,15012/240.44 miCity Road, Norwich, NR12
£85003/240.44 miWood Street, Norwich, Norfolk, NR12
£1,05006/240.46 miCity Road2
£1,15006/240.46 miSouth City2
£97506/240.47 miKingsley Road, Norwich2
£1,30006/240.49 mi-2
£1,35008/240.49 miThomas Wyatt Close, Norwich2
£1,35008/240.49 miThomas Wyatt Close, NORWICH2
£1,40010/240.5 mi-2
£1,35006/240.5 miSurrey Street, Norwich2
£1,35006/240.5 miSurrey Street, Norwich, Norfolk, NR12
£1,00006/240.5 miSentinel House, Surrey Street, NORWICH2
£1,10006/240.5 miSurrey Street, NORWICH2
£1,10006/240.5 mi2 bedroom property in Surrey Street, Norwich2
£1,00006/240.5 miSurrey Street, NORWICH2
£1,00006/240.51 mi2 bedroom property in Surrey Street, Norwich2
£1,27512/240.51 mi-2
£95006/240.51 miBrunswick Road, Norwich2
£1,20003/240.52 miThe Pavillion, St Stephens Road, Norwich2
£92506/240.52 miThe Pavilion, St. Stephens Road, Norwich, Norfolk, NR12
£95006/240.52 miThe Pavilion, St Stephens Road, Norwich, NR12
£1,15006/240.52 miSt Stephens Road, NORWICH2
£1,35006/240.52 miSentinel House, Norwich, NR12
£1,25012/240.52 miSurrey Street, Norwich2
£1,20012/240.52 miSentinel House, Surrey Street, Norwich2
£1,35002/240.52 mi-2
£1,35006/240.52 mi-2
£1,30012/240.52 mi-2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.67 miles away

Nearest school

0.20 miles away

Nearest train station

0.97 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Price changed to £180,000

February 8, 2025

Listed for £190,000

January 1, 2025

Floor Plans

Description

  • Ground floor flat located in a sought after location +
  • Ideal for first time buyers or buy-to-let investment opportunity +
  • Fitted well-equipped kitchen +
  • Bay fronted sitting room/dining room +
  • Family bathroom and WC +
  • Access to communal back garden +
  • Short distance from city centre - providing access to a wealth of amenities +
  • On road parking available with permit +
  • Guide Price £180,000 - £190,000 +

Positioned in a highly desirable location, this two-bedroom ground-floor flat offers an ideal opportunity for first-time buyers or astute investors looking for a buy-to-let property. Boasting a convenient setting within walking distance of the city centre, this property provides easy access to an array of amenities and transport links. Location Patricia Road, Norwich is located in a highly desirable area, offering the perfect balance of convenience and charm. Situated just a short distance from Norwich city centre, this address provides easy access to a wealth of amenities, including shopping centres, independent boutiques, and a variety of dining options. The property is also within close proximity to the picturesque Riverside area, with its vibrant entertainment venues and riverside walks. Families will appreciate the excellent local schools, while commuters benefit from quick access to Norwich Train Station and major road links, making it an ideal location for work and leisure alike. Surrounded by parks and green spaces, this location offers the best of city living with a touch of tranquillity. Patricia Road

Upon entering the property, you are welcomed into an inviting entrance hall leading to a cloakroom with WC and a wash hand basin. To the left, a fitted well-equipped kitchen awaits, offering ample storage and modern appliances. Continuing through the hall, you will be impressed by the bay fronted sitting room and dining area, featuring large windows that flood the space with natural light.

The accommodation further comprises two generously proportioned double bedrooms, providing comfortable spaces to unwind and rest. A stylish family bathroom completes the living quarters, ensuring convenience and functionality for residents. The property has been thoughtfully redecorated, re-floored, and fully damp proofed to create a fresh and welcoming ambience throughout.

Noteworthy features of this ground floor apartment include gas central heating provided by a recently installed boiler in 2022, as well as UPVC double glazing for energy efficiency and enhanced comfort. Residents can also enjoy access to a communal back garden, perfect for relaxing outdoors or entertaining guests.

Furthermore, the property benefits from on-road parking facilities available with a permit, making commuting hassle-free for those with a vehicle. Whether you are seeking a comfortable home or a lucrative investment opportunity, this well-maintained flat offers a versatile living space in a prime location.

Agents Notes We understand this property will be sold leasehold, with 91 years remaining on the lease. Connected to all main services. Ground rent - £90 per year Maintenance £336 every 6 months Council Tax Band - B

EPC Rating: C Disclaimer Minors and Brady, along with their representatives, are not authorized to provide assurances about the property, whether on their own behalf or on behalf of their client. We do not take responsibility for any statements made in these particulars, which do not constitute part of any offer or contract. It is recommended to verify leasehold charges provided by the seller through legal representation. All mentioned areas, measurements, and distances are approximate, and the information provided, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively. It should not be assumed that the property has all necessary planning, building regulations, or other consents. Services, equipment, and facilities have not been tested by Minors and Brady, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.

Agent Details

Minors & Brady, Unthank Road, Norwich

01603 361808

Next Steps?

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