2 Bed Flat, Single Let, Norwich, NR2 4LW, £150,000

50 Horsford Street, Norwich, NR2 4LW - 2 months ago

Sold STC
Leasehold
BTL
ROI: 5%
52 m²
+7 photos

ValuationOvervalued

Sold Prices£85K - £228K
Sold Prices/m²£1.7K/m² - £3.3K/m²

 

 

Square Metres

52 m²
Price/m²£2.9K/m²

Value Estimate

£119,336

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£37,500

Stamp Duty & Legal Fees

£8,700

Total Cash In

£46,200

 

 

Cash Out

 

Rent Range

£795 - £2,850

Rent Estimate

£831

Running Costs/mo

£655

Cashflow/mo

£176

Cashflow/yr

£2,113

ROI

5%

Gross Yield

7%

Local Sold Prices

50 sold prices from £85K to £228K, average is £140K. £1.7K/m² to £3.3K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£170K12/220.08 mi10, Dolphin Grove, Norwich, Norfolk NR2 4DZ2
£132K12/200.08 mi5, Dolphin Grove, Norwich, Norfolk NR2 4DZ2
£130K11/230.08 mi19, Dolphin Grove, Norwich, Norfolk NR2 4DZ2
£132.5K01/210.12 mi72, Dolphin Grove, Norwich, Norfolk NR2 4DY2
£170K01/230.16 mi7c, St Bartholomews Close, Norwich, Norfolk NR2 4DX2
£165K10/230.16 mi25, Hemming Way, Norwich, Norfolk NR3 2AF2
£165K07/230.16 mi55, Hemming Way, Norwich, Norfolk NR3 2AF2
£140K03/210.16 mi55, Hemming Way, Norwich, Norfolk NR3 2AF2
£153K07/230.16 mi46, Watson Grove, Norwich, Norfolk NR2 4LF2
£210K03/210.22 mi1, Church Close, Norwich, Norfolk NR2 4EF2
£135K12/200.22 mi5, Goodman Square, Norwich, Norfolk NR2 4LA2
£143.8K02/230.22 mi13, Goodman Square, Norwich, Norfolk NR2 4LA2
£130K01/230.22 mi10, Goodman Square, Norwich, Norfolk NR2 4LA2
£138K12/200.24 mi129, Old Palace Road, Norwich, Norfolk NR2 4JW2
£135K03/210.25 mi110, Old Palace Road, Norwich, Norfolk NR2 4JA2
£160K03/230.25 mi8, Clifton Close, Norwich, Norfolk NR2 4JN2
£154K07/230.25 mi16, Clifton Close, Norwich, Norfolk NR2 4JN2
£142K01/210.25 mi19, Clifton Close, Norwich, Norfolk NR2 4JN2
£106.5K06/210.25 mi75, Junction Road, Norwich, Norfolk NR3 2JA2
£135K03/210.27 mi110, Old Palace Road, Norwich, Norfolk NR2 4JA2
£151K09/230.29 mi95, Clifton Street, Norwich, Norfolk NR2 4NE2
£153K03/240.29 mi21, Clifton Street, Norwich, Norfolk NR2 4NE2
£120K01/230.31 mi43, Vale Green, Norwich, Norfolk NR3 2ER2
£118K04/210.31 mi15, Vale Green, Norwich, Norfolk NR3 2ER2
£145K11/230.31 mi15, Vale Green, Norwich, Norfolk NR3 2ER2
£140K09/210.33 mi36, Langley Walk, Norwich, Norfolk NR2 4NH2
£228K04/210.37 mi15, The Watering, Norwich, Norfolk NR3 3BF2
£200K09/230.37 mi14, The Watering, Norwich, Norfolk NR3 3BF2
£162K01/210.37 mi10, The Watering, Norwich, Norfolk NR3 3BF2
£140K02/210.37 mi11, Russell Street, Norwich, Norfolk NR2 4QT2
£140K04/210.37 mi47, Russell Street, Norwich, Norfolk NR2 4QT2
£130K06/230.37 mi64, Shorncliffe Close, Norwich, Norfolk NR3 2HS2
£129K06/210.38 mi52, Old Palace Road, Norwich, Norfolk NR2 4JQ2
£128K12/230.49 mi30, Hauteyn Court, Norwich, Norfolk NR3 2RQ2
£150K10/230.51 mi23, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£142K08/210.52 mi24, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£112K02/210.52 mi21, St Augustines Gate, Norwich, Norfolk NR3 3BE2
£145K01/240.52 mi14, Ely Street, Norwich, Norfolk NR2 4PS2
£114K06/230.55 mi26, Glenmore Gardens, Norwich, Norfolk NR3 2RN2
£85K12/200.55 mi28, Glenmore Gardens, Norwich, Norfolk NR3 2RN2
£150K07/230.57 mi53, Copenhagen Way, Norwich, Norfolk NR3 2RB2
£130K05/230.58 mi78, Sleaford Green, Norwich, Norfolk NR3 3JS2
£140K01/210.59 mi8, Distillery Square, Norwich, Norfolk NR2 4BH2
£102.5K05/230.59 mi94, Bignold Road, Norwich, Norfolk NR3 2NF2
£140K09/230.6 mi5, Sleaford Green, Norwich, Norfolk NR3 3JR2
£164K12/220.61 mi17, Charles Square, Norwich, Norfolk NR2 4BE2
£135K06/230.63 mi63, Douro Place, Norwich, Norfolk NR2 4BQ2
£145K05/230.63 mi57, Douro Place, Norwich, Norfolk NR2 4BQ2
£150K11/230.63 mi38, Sun Lane, Norwich, Norfolk NR3 3NF2
£145K10/230.64 mi35, Millers Lane, Norwich, Norfolk NR3 3LX2

Local Rents

50 rents from £795/mo to £2.9K/mo, average is £975/mo.

RentDateDistanceAddressBeds 
£1,20005/240.03 mi-2
£1,19503/250.12 mi-2
£1,19504/240.12 mi-2
£95012/230.13 mi-2
£95002/250.13 mi-2
£82512/240.15 mi-2
£95009/240.16 mi-2
£1,00010/240.16 mi-2
£99501/250.16 mi-2
£79506/240.18 miNelson Street, Norwich2
£87506/240.21 miGoodman Square, Norwich2
£87506/240.22 miGoodman Square, Norwich, NR22
£1,20001/240.23 mi-2
£90001/250.23 mi-2
£99506/240.23 miBlazer Court, Norwich2
£92506/240.25 mi-2
£95006/240.26 miArmes Street, Norwich, Norfolk, NR22
£1,00006/240.28 miNelson Street, Norwich, NR22
£95006/240.29 miBerners Street, Norwich2
£99506/240.34 miWest City2
£89506/240.35 miJunction Road, Norwich2
£90006/240.36 miDevonshire Street, Norwich, NR22
£1,05003/240.39 miAylsham Road2
£87503/240.39 miAdelaide Street, Norwich, Norfolk, NR22
£99506/240.41 miSt Martins Close, Norwich, NR32
£1,20008/240.44 miNorth City2
£87507/240.44 miPenn Grove, Norwich2
£87508/240.44 miPenn Grove, Norwich2
£80006/240.45 miMidland Walk, Norwich, NR2 4QP2
£97506/240.45 miSpeke Street, Norwich, NR22
£95008/240.46 miWingfield Road, Norwich2
£97503/240.46 miLivingstone Street, Norwich, Norfolk, NR22
£97509/240.47 mi-2
£97508/240.47 miLivingstone Street, Norwich, NR22
£2,85008/240.48 miDereham Road, Norwich2
£1,05008/240.48 miGrant Street, Norwich, NR22
£1,15001/240.5 mi-2
£1,05007/240.51 miPatteson Road, Norwich, NR32
£80006/240.52 miGlenmore Gardens, Norwich, Norfolk, NR32
£99506/240.53 miJust Off City Centre2
£99506/240.53 mi-2
£1,10008/240.53 mi-2
£95002/250.53 mi-2
£99506/240.53 miSt. Philips Road, Norwich, NR22
£1,20007/240.53 miSt. Philips Road, Norwich, NR22
£1,10007/240.53 miSt. Philips Road, Norwich, NR22
£1,00006/240.53 mi-2
£92507/240.53 miSt. Augustines Gate, Norwich2
£97501/250.54 mi-2
£1,05006/240.54 miSt. Martins At Oak Wall Lane, Norwich2

Local Area Statistics

Population in NR2

25,782

Population in Norwich

366,887

Town centre distance

0.55 miles away

Nearest school

0.30 miles away

Nearest train station

1.52 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £150,000

February 12, 2025

Listed for £160,000

January 16, 2025

Floor Plans

Description

  • SECOND FLOOR FLAT +
  • TWO BEDROOMS +
  • TWO OFF ROAD PARKING SPACES +
  • COMMUNAL GARDEN +
  • EXCELLENT FIRST TIME PURCHASE +

GUIDE PRICE: £150,000 - £160,000 TWO OFF ROAD PARKING SPACES AND A COMMUNAL RESIDENTS GARDEN Gilson Bailey are delighted to offer this WELL PRESENTED, TWO BEDROOM, SECOND FLOOR FLAT situated in a quiet cul-de-sac location to the west of Norwich. Accommodation comprising secure intercom entry, private entrance hall, lounge, MODERN FITTED KITCHEN, TWO BEDROOMS and a bathroom. Outside there are TWO ALLOCATED PARKING SPACES, communal bike store and a secure, gated communal residents garden. The flat benefits from double glazing, electric heating, A LONG LEASE and is in excellent condition throughout. The property would make an excellent first time purchase or buy-to-let investment so be quick to book a viewing.

Location - Horsford Street is just to the west of Norwich within walking distance of a selection of local amenities including shops, pubs, schooling and Norwich city centre itself. There is also good access to both the University of East Anglia and the Norfolk and Norwich University Hospital.

Accommodation Comprises - Secure intercom entry with stairs to second floor. Front door to:

Entrance Hall - Doors to lounge, two bedrooms and bathroom.

Lounge - 4.50 x 3.39 (14'9" x 11'1") - Double glazed window, storage heater.

Kitchen - 3.51 x 2.22 (11'6" x 7'3") - Fitted wall and base units with worktops over, sink and drainer, fitted hob and oven, space for fridge/freezer and washing machine, double glazed window.

Bedroom One - 3.49 x 3.32 (11'5" x 10'10") - Double glazed window, storage heater.

Bedroom Two - 3.49 x 2.31 (11'5" x 7'6") - Double glazed window, storage heater.

Bathroom - 1.93 x 1.91 (6'3" x 6'3") - Panelled bath with shower over, low level WC, hand wash basin, frosted double glazed window.

Outside - Two off road parking spaces, communal bike store and a secure, gated communal garden.

Local Authority - Norwich City Council, Tax Band B.

Tenure - Leasehold
Term 999 years from 01 January 1980.
Service Charge: £1051.51 per annum
Ground Rent: peppercorn
For further information, please contact the office.

Utilities - Full fibre broadband available.
Mains water and electric.

Agent Details

Gilson Bailey, Norwich

01603 361812

Next Steps?

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