2 Bed Flat, Single Let, Norwich, NR1 2GG, £220,000

Paper Mill Yard, Norwich, NR1 2GG - 3 months ago

Sold STC
Leasehold
BTL
ROI: 3%
~68 m²
+11 photos

ValuationOvervalued

Sold Prices£107.5K - £325K
Sold Prices/m²£1.8K/m² - £4.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.2K/m²

Value Estimate

£177,978

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£7,800

Total Cash In

£62,800

 

 

Cash Out

 

Rent Range

£1,050 - £1,600

Rent Estimate

£1,050

Running Costs/mo

£918

Cashflow/mo

£133

Cashflow/yr

£1,590

ROI

3%

Gross Yield

6%

Local Sold Prices

50 sold prices from £107.5K to £325K, average is £149K. £1.8K/m² to £4.2K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£325K01/230.21 miFlat 34, Bridgemaster Court, Wherry Road, Norwich, Norfolk NR1 1XG2
£270K10/200.22 miApartment 101, Cannon Wharf, King Street, Norwich, Norfolk NR1 2FG2
£160K05/230.23 mi15, Abbey Court, Norwich, Norfolk NR1 2AW2
£225K12/200.23 mi37, Kerrison Road, Norwich, Norfolk NR1 1JB2
£150K12/230.28 mi27, Wherry Road, Norwich, Norfolk NR1 1WS2
£140K01/210.28 mi13, Wherry Road, Norwich, Norfolk NR1 1WS2
£173.5K03/230.28 mi2, Wherry Road, Norwich, Norfolk NR1 1WS2
£158K08/230.36 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.36 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£168K05/230.42 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£168K03/210.43 miFlat 1, Squires Haven, Clarence Road, Norwich, Norfolk NR1 1HQ2
£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
£225K09/210.46 miFlat 3, Trowse House, Bracondale Millgate, Norwich, Norfolk NR1 2EQ2
£147.5K01/210.46 mi32, Wilson Road, Norwich, Norfolk NR1 1YP2
£218K11/200.48 mi5, Maltsters Yard, Norwich, Norfolk NR1 1RQ2
£160K01/240.49 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£162K01/230.5 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£140K10/230.5 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£143K01/240.5 mi64, Lakenfields, Norwich, Norfolk NR1 2HA2
£135K02/210.51 mi138, Thorpe Road, Norwich, Norfolk NR1 1RH2
£162K04/230.51 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£145K03/240.51 mi86, Scott Road, Norwich, Norfolk NR1 1YR2
£140K01/210.51 mi66, Scott Road, Norwich, Norfolk NR1 1YR2
£152K11/210.51 mi20, Scott Road, Norwich, Norfolk NR1 1YR2
£148K05/210.51 mi84, Scott Road, Norwich, Norfolk NR1 1YR2
£143K05/230.51 mi140, Scott Road, Norwich, Norfolk NR1 1YR2
£144K04/240.51 mi22, Scott Road, Norwich, Norfolk NR1 1YR2
£155K03/230.52 mi77, Scott Road, Norwich, Norfolk NR1 1YL2
£160K07/230.52 mi129, Scott Road, Norwich, Norfolk NR1 1YL2
£160K02/230.52 mi75, Scott Road, Norwich, Norfolk NR1 1YL2
£140K05/230.52 mi21, Scott Road, Norwich, Norfolk NR1 1YL2
£159K12/230.52 mi51, Scott Road, Norwich, Norfolk NR1 1YL2
£145K02/230.53 mi144b, Thorpe Road, Norwich, Norfolk NR1 1RH2
£185K08/230.53 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£147.5K05/210.53 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£113K05/210.54 mi34, Sunny Hill, Norwich, Norfolk NR1 2ET2
£125K06/210.54 mi24, Sunny Hill, Norwich, Norfolk NR1 2ET2
£138K01/240.54 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£107.5K12/230.54 mi79, Ingram Court, Norwich, Norfolk NR1 2HQ2
£115K03/210.55 mi4, Hill House Road, Norwich, Norfolk NR1 4BW2
£150K10/210.55 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£122K10/210.55 mi105, Rosary Road, Norwich, Norfolk NR1 4BX2
£158K02/230.55 mi38, Glendenning Road, Norwich, Norfolk NR1 1YS2
£138.5K12/200.56 mi90, Glendenning Road, Norwich, Norfolk NR1 1YN2
£125K02/210.57 mi2, Suncroft, Long John Hill, Norwich, Norfolk NR1 2EP2
£166K10/210.57 mi18, Ingram Court, Norwich, Norfolk NR1 2PY2
£150K08/230.58 mi39, Glendenning Road, Norwich, Norfolk NR1 1YS2
£203K09/210.61 mi156, Brazen Gate, Norwich, Norfolk NR1 3SB2

Local Rents

52 rents from £1.1K/mo to £1.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,20012/240.01 mi-2
£1,10006/240.02 miPaper Mill Yard, King Street, Norwich, NR12
£1,20006/240.03 miBlue Mill, Paper Mill Yard2
£1,20012/240.04 miNorwich, NR12
£1,30006/240.04 mi-2
£1,30006/240.04 miPaper Mill Yard, Norwich, NR12
£1,05006/240.07 miAllison Bank, Geoffrey Watling Way, Norwich2
£1,09512/240.09 miGeoffrey Watling Way, Norwich, Norfolk, NR12
£1,35012/240.09 miLochhead Bank, NR1 1GF2
£1,20010/240.09 mi-2
£1,25012/240.09 miLochhead Bank, Norwich2
£1,30006/240.1 miGeoffrey Watling Way, NORWICH2
£1,40006/240.1 miCity Centre, Norwich, NR12
£1,05012/240.1 miRobinson Bank, Norwich, NR1 1GG2
£1,60006/240.11 miNorwich, NR12
£1,40006/240.11 miThe Malt House, NR1 2TP2
£1,45012/240.12 mi-2
£1,49504/250.12 mi-2
£1,49504/250.12 mi-2
£1,45012/240.12 miSolace, Norwich, NR12
£1,40006/240.13 miKing Street, Norwich2
£1,35003/250.14 mi-2
£1,45003/250.14 mi-2
£1,55003/240.15 mi-2
£1,50004/250.15 mi-2
£1,35006/240.15 miNew Ferry Yard2
£1,20006/240.17 miKing Street, Norwich2
£1,20006/240.19 miCanary Quay, NR12
£1,20006/240.19 miCanary Quay, NR12
£1,35012/240.19 miRichard Hawthorn House, NR1 1GS2
£1,40006/240.19 miGeoffrey Watling Way, NORWICH2
£1,60012/240.19 miRichard Hawthorne House, Norwich2
£1,30004/240.2 mi-2
£1,35012/240.2 miGeoffrey Watling Way, Norwich, NR12
£1,50002/240.21 mi-2
£1,30006/240.21 miWherry Road, NORWICH2
£1,35012/240.21 miWherry Road, Norwich, Norfolk, NR12
£1,25006/240.22 miKing Street, NORWICH2
£1,10006/240.24 miCarrow Road, Norwich2
£1,10006/240.28 mi-2
£1,10012/240.28 mi-2
£1,15002/250.28 mi-2
£1,30012/240.28 miNorwich, NR12
£1,10012/240.28 miWherry Road, Norwich2
£1,27009/240.28 mi-2
£1,05006/240.29 miCity Road2
£1,15012/240.29 mi-2
£1,20012/240.29 mi-2
£1,20012/240.29 mi-2
£1,15012/240.31 miCity Road, Norwich, NR12
£1,25012/240.31 miEast Bank, Wherry Road, Norwich, NR12
£1,20012/240.33 miCarlyle Road, Norwich2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.54 miles away

Nearest school

0.40 miles away

Nearest train station

0.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £220,000

January 17, 2025

Floor Plans

Description

  • STYLISH FIFTH FLOOR APARTMENT +
  • SECURED ALLOCATED PARKING SPACE +
  • TWO BEDROOMS +
  • OPEN PLAN LIVING ACCOMMODATION +
  • BALCONY WITH STUNNING CITY VIEWS +
  • RIVERSIDE LOCATION +
  • CLOSE TO CITY CENTRE +
  • LIFT ACCESS +

Ideally located by the riverside with easy access to the City Centre, this stylish fifth floor apartment boasts fantastic views across the City and to the Cathedral from it's spacious balcony. The apartment offers an open plan kitchen diner/living room, two bedrooms and a family bathroom.

Description - Situated in a fantastic riverside location, conveniently close to the City Centre, this fifth floor purpose built apartment boasts contemporary and beautifully presented accommodation. The windows of the home are all South/South East facing; creating bright living accommodation which is further benefitted with under floor heating. A fantastic feature of this property is the generous South/South East facing, private balcony; accessed from the living room, with plenty of space for outdoor dining and enjoying views across Norwich, River Wensum and out towards the Cathedral. The property offers an open plan kitchen diner/living room, two bedrooms and a family bathroom. There is lift access and a secure, allocated parking space with further visitor parking onsite.

Entrance Hall - Engineered oak flooring, airing cupboard, doors to all rooms.

Kitchen Diner/Living Room - The kitchen area is fitted with wall and base units with inset stainless steel sink and drainer, integrated appliances to include a dishwasher, washing machine and integrated fridge and freezer, electric Bosch fitted oven with electric hob and cooker hood over, tiled floor, under counter lights.
The living area features two double glazed windows to the side aspect, a double glazed patio door to the balcony and engineered oak flooring.

Bathroom - The bathroom is fitted with a three piece suite comprising bath with mains connected shower over and mixer tap, WC, vanity unit with inset wash hand basin, extractor fan, electric heated towel rail, tiled floor and walls.

Bedroom One - Double glazed window to side aspect, engineered oak flooring.

Bedroom Two - Double glazed window to side aspect, engineered oak flooring.

External - The apartment is ideally positioned alongside the River Wensum and features a visitor car park at the entrance. The property has one allocated and secured parking space.

Location - The apartment is located just a short distance from the train station with direct routes across to the coast and into Cambridge and London. Norwich is a historic City with two shopping centres and a host of fantastic eateries, a market place and cobbled streets lined with boutique shops. The City offers a wealth of history including Norwich Castle and two stunning Cathedrals.

Agents Notes - This property is Leasehold.
Mains electricity, water and drainage connected with electric underfloor heating.
Council tax band: C
One allocated off road parking space.
Annual ground rent: £250.
Annual service charge: £2,580
Lease term 241 years remaining.

Agent Details

Arnolds Keys, Norwich

01603 361259

Next Steps?

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