2 Bed Flat, Single Let, Norwich, NR1 3SJ, £180,000

The Pavilion St. Stephens Road, Norwich., NR1 3SJ - 3 months ago

Leasehold
BTL
ROI: 4%
~49 m²
+11 photos

ValuationOvervalued

Sold Prices£46.3K - £310K
Sold Prices/m²£756/m² - £3.6K/m²

 

 

Square Metres

~49.32 m²
Price/m²£3.6K/m²

Value Estimate

£122,156

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

£850 - £1,550

Rent Estimate

£975

Running Costs/mo

£778

Cashflow/mo

£198

Cashflow/yr

£2,370

ROI

4%

Gross Yield

7%

Local Sold Prices

50 sold prices from £46.3K to £310K, average is £165K. £756/m² to £3.6K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£190K03/230.07 mi29, Wessex Street, Norwich, Norfolk NR2 2TJ2
£92.5K12/220.07 mi17, Wessex Street, Norwich, Norfolk NR2 2TJ2
£200K01/230.07 mi7, Wessex Street, Norwich, Norfolk NR2 2TJ2
£46.3K03/210.07 mi39, Wessex Street, Norwich, Norfolk NR2 2TJ2
£177K07/230.09 mi27, Kenneth Mckee Plain, Norwich, Norfolk NR2 2TH2
£170K11/220.11 mi18, Wessex Street, Norwich, Norfolk NR2 2SP2
£165K10/230.15 miFlat 11, Marlborough House, Grove Road, Norwich, Norfolk NR1 3RQ2
£150K03/210.17 miThe Second Floor Flat, 4, Grove Avenue, Norwich, Norfolk NR1 2QD2
£155K11/200.18 mi24, Norfolk Street, Norwich, Norfolk NR2 2SN2
£310K06/210.22 mi47, Chapel Field East, Norwich, Norfolk NR2 1SF2
£160K12/230.25 mi15, Eagle Walk, Norwich, Norfolk NR2 2JA2
£125K03/210.32 mi151, Somerleyton Gardens, Norwich, Norfolk NR2 2BS2
£203K09/210.32 mi156, Brazen Gate, Norwich, Norfolk NR1 3SB2
£128K09/230.33 mi24, Johnson Place, Norwich, Norfolk NR2 2SA2
£125K01/240.34 mi111, Somerleyton Gardens, Norwich, Norfolk NR2 2BP2
£199.9K12/200.34 mi8, Woburn Street, Norwich, Norfolk NR2 2RQ2
£180K05/230.38 mi7, Lady Mary Road, Norwich, Norfolk NR1 2QZ2
£150K10/210.4 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£140K10/230.41 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£138K01/240.43 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£200K04/240.44 mi45, St Albans Road, Norwich, Norfolk NR1 2QX2
£160K01/240.44 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£140K07/210.45 mi16, Gordon Square, Norwich, Norfolk NR1 3HJ2
£132.5K07/230.45 mi9, Gordon Square, Norwich, Norfolk NR1 3HJ2
£138K09/210.45 mi23, Gordon Square, Norwich, Norfolk NR1 3HJ2
£162K04/230.46 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£150K07/230.46 mi17, Watlings Court, Norwich, Norfolk NR2 1HA2
£180K07/230.46 mi16, Watlings Court, Norwich, Norfolk NR2 1HA2
£200K10/230.47 miFlat 18, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£205K11/230.47 miFlat 35, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£215K03/230.47 miFlat 3, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£147.5K05/210.48 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£207K01/210.49 mi91, Wellington Lane, Norwich, Norfolk NR2 1HJ2
£162K01/230.51 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£168K05/230.51 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£181K03/210.51 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£181K03/210.51 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£177K04/210.51 mi25, Patricia Road, Norwich, Norfolk NR1 2PE2
£174K11/200.51 mi19, Patricia Road, Norwich, Norfolk NR1 2PE2
£177.5K08/230.51 mi12, Patricia Road, Norwich, Norfolk NR1 2PE2
£143K04/210.54 mi39, Patricia Road, Norwich, Norfolk NR1 2PE2
£180K01/210.54 mi4, Three King Lane, Norwich, Norfolk NR2 1TX2
£185K08/230.54 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£156.5K08/230.54 mi76, Paragon Place, Norwich, Norfolk NR2 4BP2
£158K08/230.55 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.55 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£260K11/210.56 mi17, St Martin At Bale Court, Norwich, Norfolk NR1 3DZ2
£152K09/210.56 mi56, Heigham Grove, Norwich, Norfolk NR2 3DH2
£165K09/230.56 miFlat 1, Maude Gray Court, St Benedicts Street, Norwich, Norfolk NR2 4PA2
£165K03/230.57 mi66, Paragon Place, Norwich, Norfolk NR2 4BP2

Local Rents

50 rents from £850/mo to £1.6K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£92506/240.02 miThe Pavilion, St. Stephens Road, Norwich, Norfolk, NR12
£95006/240.02 miThe Pavilion, St Stephens Road, Norwich, NR12
£1,15006/240.02 miSt Stephens Road, NORWICH2
£1,20003/240.03 miThe Pavillion, St Stephens Road, Norwich2
£1,25006/240.04 miThe Pavillion, NR12
£1,40010/240.08 mi-2
£1,35008/240.08 miThomas Wyatt Close, Norwich2
£1,30006/240.08 mi-2
£1,35008/240.08 miThomas Wyatt Close, NORWICH2
£97507/240.1 miEdward Jodrell Plain, Norwich2
£85003/240.1 miWood Street, Norwich, Norfolk, NR12
£1,19511/240.1 mi-2
£97506/240.11 miKingsley Road, Norwich2
£95006/240.11 miBrunswick Road, Norwich2
£1,20006/240.11 miNeedham Place, Norwich2
£99501/250.12 mi-2
£1,15012/240.13 miNeedham Place, Norwich2
£1,25012/240.17 miGrove Avenue, Norwich2
£1,25012/240.17 miGrove Avenue, Norwich, Norfolk, NR12
£97512/240.17 miRegina Road, NR1 3QZ2
£1,25006/240.17 miNewmarket Street, Norwich, NR22
£1,17512/240.18 miChapelfield Gardens, Norwich, 2
£1,10008/240.18 miNewmarket Street, Norwich, Norfolk, NR22
£1,20010/240.19 mi-2
£1,10007/240.19 miTrinity Street, Norwich, NR2 2BH2
£1,00006/240.19 miTrinity Street, Norwich, Norfolk, NR22
£97506/240.19 miNorwich2
£1,15006/240.21 miSouth City2
£1,29501/250.21 mi-2
£1,10012/240.22 miChapelfield Gardens, Norwich2
£1,35001/250.23 mi-2
£1,30001/250.26 mi-2
£95007/240.26 miNewmarket Street, Norwich, NR22
£1,20008/240.27 miLeicester Street, Norwich, NR22
£1,20006/240.27 miLeicester Street, Norwich, NR22
£1,20009/240.28 miAllens Lane, Norwich, Norfolk, NR22
£1,15008/240.31 mi-2
£1,15009/240.31 mi-2
£1,15008/240.31 miVauxhall Street, Norwich, NR22
£1,35006/240.31 miSurrey Street, Norwich, Norfolk, NR12
£1,00006/240.31 miSentinel House, Surrey Street, NORWICH2
£1,10006/240.31 miSurrey Street, NORWICH2
£1,10006/240.31 mi2 bedroom property in Surrey Street, Norwich2
£1,00006/240.31 miSurrey Street, NORWICH2
£1,55012/240.31 mi-2
£1,00006/240.31 mi2 bedroom property in Surrey Street, Norwich2
£1,27512/240.32 mi-2
£1,20002/240.32 mi-2
£1,20012/240.32 mi-2
£97507/240.32 miSomerleyton Gardens, Norwich, NR22

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.20 miles away

Nearest school

0.10 miles away

Nearest train station

0.87 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

March 16, 2025

Listed for £190,000

January 14, 2025

Floor Plans

Description

  • No Chain! +
  • Two Bedroom First Floor Apartment +
  • Sought After Development +
  • Currently Tenanted But Could Be Sold Vacant Possession +
  • Open Plan Kitchen/Dining/Sitting Room +
  • Two Double Bedrooms & Family Bathroom +
  • Ideal Buy To Let or First Time Purchase +
  • Allocated Underground Secure Parking Space +

IN SUMMARY
NO CHAIN! Within a few minutes walk of the CITY CENTRE and located on the second floor within the SOUGHT AFTER development of THE PAVILLION in the old hospital you will find this well presented TWO BEDROOM APARTMENT. The property has in recent years been used as a SUCCESSFUL RENTAL and currently has tenants in situ. The accommodation is sold as seen with ALL FURNITURE INCLUDED making it an IDEAL BUY TO LET although could of course be sold with vacant possession as well. There is a central hallway with modern tiled bathroom and double cupboard housing washing machine. There are TWO DOUBLE BEDROOMS with built in wardrobes to the main bedroom and the main kitchen / reception room which are open plan to one another with double doors and JULIETTE BALCONY allowing plenty of NATURAL LIGHT into the apartment benefitting from its SOUTH FACING aspect. There is also one allocated and secure PARKING SPACE underground. SETTING THE SCENE
The Pavilion is approached from St. Stephens Road by foot with the main entrance door to the building located at the front. The apartment can be found heading to the right of the communal entrance on the second floor with lift access. There is also access to the rear of the building from Brunswick Road leading into the communal underground car park with one allocated parking space found on the lower level and lift access to the third floor. THE GRAND TOUR
Entering the apartment via the communal hallway you will find a built in double cupboard housing the fuse box and space for coats and shoes as well as space and plumbing for the washing machine. The bathroom is found to the right off the hallway which is fully tiled offering a bath with shower over as well as W/C and hand wash basin. There are two bedrooms to the south side of the apartment enjoying a sunny aspect, with the main bedroom benefitting from double fitted wardrobes. The main reception room is open plan offering plenty of space for sitting/dining and kitchen. The modern kitchen offers plenty of cupboards with rolled edge worktops alongside integrated electric oven and hob with extractor fan and fridge/freezer. From the sitting room end there are double doors leading out to a Juliette balcony allowing plenty of natural light with a south facing aspect. The property is currently a fully furnished rental so will be sold with all furniture that is in place included within the sale. FIND US
Postcode : NR1 3SJ
What3Words : ///fits.icon.spoon VIRTUAL TOUR
View our virtual tour for a full 360 degree of the interior of the property.

AGENTS NOTE
Leasehold details are as follows:- Lease remaining - 108 years from a 125 year lease from new. Service charges - £1935PA & Ground Rent - £350 PA.

EPC Rating: C

Agent Details

Starkings & Watson, Norfolk & Suffolk

03300 433910

Next Steps?

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