2 Bed Flat, Single Let, Derby, DE1 3BN, £89,950

5 Millers Court, Edward Street, Derby, DE1 3BN - 3 views - 3 months ago

Sold STC
Leasehold
BTL
ROI: 10%
50 m²
+9 photos

ValuationOvervalued

Sold Prices£30K - £162.5K
Sold Prices/m²£545/m² - £2.9K/m²

 

 

Square Metres

50 m²
Price/m²£1.8K/m²

Value Estimate

£86,147

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£22,488

Stamp Duty & Legal Fees

£3,899

Total Cash In

£26,386

 

 

Cash Out

 

Rent Range

£412 - £2,395

Rent Estimate

£645

Running Costs/mo

£430

Cashflow/mo

£215

Cashflow/yr

£2,579

ROI

10%

Gross Yield

9%

Local Sold Prices

45 sold prices from £30K to £162.5K, average is £116K. £545/m² to £2.9K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£61.5K03/210.15 miFlat 112, Rivermead House, Bath Street, Derby, City Of Derby DE1 3BT2
£114K01/230.17 miApartment 1, Waterside House, Duke Street, Derby, City Of Derby DE1 3BA2
£143K12/220.21 mi100, Bridge Street, Derby, City Of Derby DE1 3LF2
£127.5K11/200.25 mi22, City Walk, Derby, City Of Derby DE1 3QD2
£116K05/210.25 mi27, City Walk, Derby, City Of Derby DE1 3QD2
£85K10/210.27 mi12, Nuns Street, Derby, City Of Derby DE1 3LL2
£127.5K07/210.28 miApartment 2, Westpoint, Brook Street, Derby, City Of Derby DE1 3TE2
£42K11/220.43 miFlat 33, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£60K12/200.43 miFlat 32, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£37K02/210.43 miFlat 35, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£140K03/230.44 miFirst Floor Flat, 3, Friary Street, Derby, City Of Derby DE1 1JF2
£135K08/220.55 mi41, Auriga Court, Derby, City Of Derby DE1 3RH2
£48K09/210.58 miFlat 27, Great Northern Point, Great Northern Road, Derby, City Of Derby DE1 1LZ2
£85K06/210.58 miFlat 5, Great Northern Point, Great Northern Road, Derby, City Of Derby DE1 1LZ2
£124.5K06/230.58 mi23, Magnus Court, Derby, City Of Derby DE21 4TQ2
£109K03/220.58 mi15, Magnus Court, Derby, City Of Derby DE21 4TQ2
£138K01/230.58 mi33, Magnus Court, Derby, City Of Derby DE21 4TQ2
£121.3K01/220.58 mi11, Magnus Court, Derby, City Of Derby DE21 4TQ2
£117K08/210.58 mi37, Magnus Court, Derby, City Of Derby DE21 4TQ2
£109.5K03/210.58 mi23, Magnus Court, Derby, City Of Derby DE21 4TQ2
£117.5K05/220.58 mi41, Magnus Court, Derby, City Of Derby DE21 4TQ2
£117K08/210.58 mi37, Magnus Court, Derby, City Of Derby DE21 4TQ2
£125K07/220.58 mi31, Magnus Court, Derby, City Of Derby DE21 4TQ2
£42.5K09/220.6 miFlat 5, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£111K07/220.6 miFlat 41, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£38K04/230.61 miFlat 31, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£30K02/210.62 mi80, Magnus Court, Derby, City Of Derby DE21 4TR2
£30K02/220.62 mi80, Magnus Court, Derby, City Of Derby DE21 4TR2
£102.5K10/200.62 mi33, Magnus Court, Derby, City Of Derby DE21 4TQ2
£162.5K04/210.63 miApartment 13, Wheeldon Manor, Wheeldon Avenue, Derby, City Of Derby DE22 1HY2
£90K07/220.7 miFlat 14, Swinscoe House, Rosengrave Street, Derby, City Of Derby DE1 1PS2
£78.5K08/210.77 mi94, Gerard Street, Derby, City Of Derby DE1 1PH2
£87.5K11/200.77 mi114, Gerard Street, Derby, City Of Derby DE1 1PH2
£150K10/200.78 mi18, Castleward Boulevard, Derby, City Of Derby DE1 2LQ2
£135K09/220.81 mi34, Kniveton Close, Derby, City Of Derby DE22 3BB2
£136K06/210.84 mi103, Parliament Street, Derby, City Of Derby DE22 3RL2
£110K05/220.87 miFlat 18, Derwent House, Huntingdon Green, Derby, City Of Derby DE21 6AB2
£124K03/210.92 mi53, Farm Street, Derby, City Of Derby DE22 3UJ2
£130K06/210.94 mi102, Highfields Park Drive, Derby, City Of Derby DE22 1JU2
£158K03/230.94 mi102, Highfields Park Drive, Derby, City Of Derby DE22 1JU2
£149K02/230.94 mi104, Highfields Park Drive, Derby, City Of Derby DE22 1JU2
£155K03/230.94 miFlat 9, Nightingale Mews, Calvert Street, Derby, City Of Derby DE1 2RT2
£157K05/210.95 mi2, Darley Street, Darley Abbey, Derby, City Of Derby DE22 1DX2
£92.5K08/210.95 mi3, Jackdaw Close, Derby, City Of Derby DE22 3SY2
£78K01/210.96 mi31, Moray Walk, Derby, City Of Derby DE21 6BR2

Local Rents

51 rents from £412/mo to £2.4K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£65003/240.01 mi4 The Stables, Arthur Street, Derby, Derbyshire, DE12
£95006/240.02 mi-2
£95012/240.02 mi-2
£95012/240.02 mi-2
£95012/240.02 mi-2
£85002/250.02 mi-2
£95002/250.02 mi-2
£99502/250.02 mi-2
£95002/250.02 mi-2
£95002/250.02 mi-2
£85002/250.02 mi-2
£95002/250.02 mi-2
£85003/250.02 mi-2
£79503/250.02 mi-2
£90003/250.02 mi-2
£97503/250.02 mi-2
£85003/250.02 mi-2
£87503/250.02 mi-2
£90004/250.02 mi-2
£95005/240.02 miKing's Crescent Apartments, Derby, DE12
£80004/240.02 mi-2
£95002/240.02 mi-2
£99502/240.03 mi-2
£99503/240.03 miKings Crescent Apartments, Derby, DE12
£99504/240.03 mi-2
£99503/240.03 miKing's Crescent Apartments, Derby, DE12
£95004/240.03 mi-2
£95003/240.03 miKing's Crescent Apartments, Derby, DE12
£99504/240.03 miKing's Crescent Apartments, Derby, DE12
£95004/240.03 miKing's Crescent Apartments, Derby, DE12
£64503/240.03 miKings Court, Arthur Street, Derby, DE1 3DH 2
£2,39504/240.06 mi-2
£2,39503/240.06 mi-2
£2,39504/240.06 mi-2
£2,39505/240.06 mi-2
£2,39505/240.06 mi-2
£2,39505/240.06 mi-2
£2,39512/240.06 mi-2
£2,39512/240.06 mi-2
£41203/240.07 miNorthgate, North Street, Derby2
£54203/240.08 mi Students 2024/25 - Duffield Road, Derby, DE1 3BB LOW SECURITY DEPOSIT 2
£65003/240.09 miNorth Parade, Derby2
£66304/240.09 miKing Street, Derby, Derbyshire, DE12
£75004/240.13 mi-2
£75003/240.13 miSt Mary’S Court, Derby, DE12
£95010/230.13 miHandyside Street, Derby, Derbyshire, DE12
£70003/240.13 miSt. Marys Court, Duke Street, Derby, DE1 3DD2
£90003/240.14 miLuxe Apartments 2
£90003/240.14 miLuxe Apartments 2
£1,00004/240.14 miLuxe Apartments, Derby - Available Now 2
£97504/240.14 miLuxe, St Helens Street2

Local Area Statistics

Population in DE1

14,046

Population in Derby

308,324

Town centre distance

0.92 miles away

Nearest school

0.30 miles away

Nearest train station

1.09 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £89,950

January 13, 2025

Floor Plans

Description

A smartly presented and upgraded city centre apartment featuring a superbly fitted kitchen, two generous bedrooms an open plan living room.

Directions - The property is located on the corner of Edward Street and Arthur Street best approached from Duffield Road taking the last left turning onto Edward Street before arriving in the city centre. Viewers are advised to observe local parking restrictions.

The all-electric second floor apartment has been freshly upgraded to include a stylish brand new kitchen with appliances, new flooring and redecoration throughout. The accommodation comprises, hallway with airing cupboard and deep store cupboard, spacious open plan living room, a separate cleverly fitted kitchen including oven, hob, fridge and washing machine, two generous bedrooms (similar sizes) and bathroom with shower over bath.

Externally there is a pedestrianised courtyard with bin store and access into a communal hallway. Street parking is available to residents only, a permit being required from Derby City Council.

The vibrant city centre, Five Lamps area with popular public houses, petrol station with convenience store and Darley Park are all within close proximity to this impressive and affordable apartment.

The property is offered for sale with no upward chain and immediate vacant possession.

An ideal first time buy or buy to let investment.

Accommodation -

Communal Hallway - Accessed from both Edward Street and internally from the courtyard. Stairs to the first and second floor.

Second Floor -

Private Entrance Hallway - Main front door, wood effect laminate flooring, airing cupboard, electric radiator and upgraded fusebox (EICR compliant until November 2025).

Cupboard - 1.68m x 0.89m (5'6" x 2'11") - A deep cupboard provides a useful storage area.

Living Room - 5.00m x 3.00m (16'5" x 9'10") - Having a continuation of the wood effect laminate flooring, providing ample space for lounge and dining future, Velux and regular windows, media connections, electric heater.

Kitchen - 2.82m x 1.70m (9'3" x 5'7") - A cleverly appointed kitchen maximising space being appointed with a brand new range of wall and base units with matching cupboard and drawer fronts with integrated handles, low profile laminate work surface, composite sink and drainer, tiled walls and deep tiled sill with window, electric oven, hob and extractor fan over, integrated fridge and washing machine, tiled floor.

Bedroom One - 3.00m x 2.87m (9'10" x 9'5") - A double bedroom with window and deep sill, electric heater. The buyer has a choice of carpet.

Bedroom Two - 2.90m x 2.64m (9'6" x 8'8") - A generous second bedroom also with a window and deep sill, electric heater. The buyer has a choice of carpet.

Bathroom - 1.96m x 1.68m (6'5" x 5'6") - Appointed with a white three piece suite comprising a panelled bath with electric shower over, wash basin and WC, tiled walls, window and electric fan heater.

Outside - Externally there is a pedestrianised courtyard with bin store and access into a communal hallway. Street parking is available to residents only, a permit being required from Derby City Council.

Tenure - Leasehold.

The apartment is subject to a lease of 957 years remaining with current monthly costs of:
Half Yearly Service charge £808.75.
Ground rent TBC.

Agent Details

Boxall Brown & Jones, Derby

01332 215408

Next Steps?

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