2 Bed Flat, Single Let, Chelmsford, CM1 6QR, £185,000

Foxglove Way, Springfield, CM1 6QR - 3 views - 3 months ago

Leasehold
BTL
ROI: 6%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£130K - £259K
Sold Prices/m²£2.4K/m² - £4.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.7K/m²

Value Estimate

£225,700
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£6,750

Total Cash In

£53,000

 

 

Cash Out

 

Rent Range

£1,050 - £1,600

Rent Estimate

£1,063

Running Costs/mo

£811

Cashflow/mo

£252

Cashflow/yr

£3,027

ROI

6%

Gross Yield

7%

Local Sold Prices

49 sold prices from £130K to £259K, average is £203K. £2.4K/m² to £4.7K/m², average is £3.7K/m².

PriceDateDistanceAddressBeds 
£181K07/230.02 mi84, Foxglove Way, Chelmsford, Essex CM1 6QR2
£150K06/210.07 mi139, Cornflower Drive, Chelmsford, Essex CM1 6XZ2
£186K02/230.07 mi65, Cornflower Drive, Chelmsford, Essex CM1 6XZ2
£167K04/210.12 mi48, Petunia Crescent, Chelmsford, Essex CM1 6YP2
£203K08/230.22 mi29, Azalea Court, Chelmsford, Essex CM1 6YL2
£185K07/230.27 mi34, Lupin Drive, Chelmsford, Essex CM1 6FH2
£175K03/210.31 mi114, Lupin Drive, Chelmsford, Essex CM1 6FJ2
£180K03/230.31 mi114, Lupin Drive, Chelmsford, Essex CM1 6FJ2
£210K12/220.31 mi49, Canvey Walk, Chelmsford, Essex CM1 6LB2
£205.7K05/230.32 mi9, Canvey Walk, Chelmsford, Essex CM1 6LB2
£189.5K11/210.32 mi33, Canvey Walk, Chelmsford, Essex CM1 6LB2
£248K11/210.34 mi81, Burnell Gate, Chelmsford, Essex CM1 6ED2
£259K02/210.34 mi47, Burnell Gate, Chelmsford, Essex CM1 6ED2
£250K02/230.34 mi85, Burnell Gate, Chelmsford, Essex CM1 6ED2
£245K10/200.34 mi11, Oasis Court, Chelmsford, Essex CM2 6JU2
£200K02/210.41 mi394, Springfield Road, Chelmsford, Essex CM2 6AT2
£245K03/230.58 mi290, Springfield Road, Chelmsford, Essex CM2 6BA2
£240K07/210.58 mi367, Springfield Road, Chelmsford, Essex CM2 6AW2
£153K05/210.58 mi15, Clematis Tye, Chelmsford, Essex CM1 6GL2
£173K04/210.58 mi11, Clematis Tye, Chelmsford, Essex CM1 6GL2
£170K02/210.58 mi24, Clematis Tye, Chelmsford, Essex CM1 6GL2
£235K10/200.59 mi15, Forefield Green, Chelmsford, Essex CM1 6YU2
£185K06/210.61 mi133, Crocus Way, Chelmsford, Essex CM1 6XH2
£130K10/200.61 mi135, Crocus Way, Chelmsford, Essex CM1 6XH2
£161.3K03/210.61 mi25, Abell Way, Springfield, Chelmsford, Essex CM2 6WU2
£157.5K09/210.61 mi29, Abell Way, Springfield, Chelmsford, Essex CM2 6WU2
£165K02/210.67 mi42, Bryant Link, Springfield, Chelmsford, Essex CM2 6GZ2
£177K06/210.7 mi29, Bodmin Road, Chelmsford, Essex CM1 6LJ2
£205K04/210.84 mi181, Waveney Drive, Chelmsford, Essex CM1 7QD2
£200K03/210.86 mi18, Wavell Close, Springfield, Chelmsford, Essex CM1 6FQ2
£210K10/210.86 mi40, Wavell Close, Springfield, Chelmsford, Essex CM1 6FQ2
£255K07/230.87 mi23, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW2
£255K03/230.87 mi53, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW2
£210K10/210.88 mi28, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£202.5K03/230.88 mi56, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£240K02/230.89 mi23, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£215K06/230.91 mi73, Tamar Rise, Chelmsford, Essex CM1 7QL2
£212.5K04/210.91 mi73, Tamar Rise, Chelmsford, Essex CM1 7QL2
£195K03/230.91 mi63, Tamar Rise, Chelmsford, Essex CM1 7QL2
£250K01/230.94 mi66, Eglinton Drive, Chelmsford, Essex CM2 6YL2
£196.5K03/230.94 mi136, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£198K03/210.94 mi34, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£211K02/210.94 mi42, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£215K01/210.94 mi66, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£219K02/230.94 mi46, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£202K11/200.95 mi19, Tamar Rise, Chelmsford, Essex CM1 7QL2
£225K05/210.96 mi145, Beeleigh Link, Chelmsford, Essex CM2 6PH2
£220K04/210.96 mi147a, Beeleigh Link, Chelmsford, Essex CM2 6PH2
£217K05/210.98 mi169, Pollards Green, Chelmsford, Essex CM2 6UX2

Local Rents

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

RentDateDistanceAddressBeds 
£1,20005/240.01 mi-2
£1,20005/240.01 miFoxglove Way, Chelmsford, CM12
£1,20005/240.01 miFoxglove Way, Chelmsford, CM12
£1,10005/240.01 miFoxglove Way, CM12
£1,10003/240.07 miCornflower Drive , Springfield2
£1,05003/240.24 miLupin Drive, Chelmsford2
£1,10005/240.25 mi-2
£1,10005/240.25 miLupin Drive, Chelmsford, Cm1, CM12
£1,10003/240.3 miLupin Drive, Springfield, Chelmsford, CM12
£1,10005/240.34 miOasis Court, Chelmsford, CM22
£1,20003/240.34 miBurnell Gate, Beaulieu Park, Chelmsford, CM1 6ED2
£1,20003/240.34 miBurnell Gate, Beaulieu Park, CM12
£1,35003/250.38 mi-2
£1,25001/250.41 mi-2
£1,05011/230.42 miRembrandt Grove2
£1,60004/240.43 miFalmouth Road, Chelmsford, CM12
£1,15003/240.44 miSpringfield Road, CM22
£1,10003/240.53 miForsythia Close, Springfield2
£1,15011/230.54 miSnowdrop Close, Chelmsford, Essex, CM12
£1,10004/240.55 miViolet Close, Chelmsford, CM12
£1,20003/240.57 miSpringfield Road, CM22
£1,10004/240.6 miCrocus Way, Springfield2
£1,19512/240.61 mi-2

Local Area Statistics

Population in CM1

62,617

Population in Chelmsford

174,693

Town centre distance

1.91 miles away

Nearest school

0.20 miles away

Nearest train station

1.82 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £185,000

January 20, 2025

Floor Plans

Description

  • No onward chain +
  • Extended lease term upon completion +
  • Second floor +
  • Lounge/diner +
  • Two bedrooms +
  • Good access to the A12 +
  • On a bus route to the railway station +
  • Trains to London Stratford from 31 minutes & Liverpool Street from 36 minutes +
  • Near by local shops & stores +
  • Ideal first time or investment purchase +

This bright and airy top floor flat is located in the popular Springfield area of the City and is being offered for sale with no onward chain. Inside, there is an entrance hall, lounge/diner, kitchen, two bedrooms and a bathroom. Outside, there is a residents parking area and communal garden space. The sellers are providing an extended lease term upon completion which will see 90 years added to the remaining term. Overall, this flat is a fantastic opportunity for anyone looking to get on the property ladder or expand their investment portfolio being presented in good condition throughout.

Foxglove Way is located off of Petunia Crescent in the popular Springfield area which is conveniently located close to a range of local amenities, making everyday tasks such as grocery shopping or going for a meal out a breeze. Springfield offers excellent links to the A12 and is on a bus route in to the City and railway station with trains to London Stratford from 31 minutes and Liverpool Street from 36 minutes.

Band B is the Council Tax band for this property and the annual council tax bill is £1,682.52.

Tenure: Leasehold

Lease length: The sellers are in the process of a statutory lease extension adding 90 years to the original term which has 54 years remaining, meaning a 144 year term upon completion.

Ground rent: Peppercorn

Service charge: There is annual service charge of £1,349.47

As an integral part of the community, we’ve gotten to know the best professionals for the job. If we recommend one to you, it will be in good faith that they’ll make the process as smooth as can be. Please be aware that a small number of the parties we recommend (certainly not the majority) may on occasion pay us a referral fee up to £200. You are under no obligation to use a third party we have recommended.

Should you successfully have an offer accepted on a property of ours and proceed to purchase it there is an administration charge of £30 inc. VAT per person (non-refundable) to complete our Anti Money Laundering Identity checks.

Second floor

Entrance hall

Lounge/diner
4.78 m x 3.43 m (15'8" x 11'3")

Kitchen
2.59 m x 2.62 m (8'6" x 8'7")

Bedroom 1
2.77 m x 3.84 m (9'1" x 12'7")

Bedroom 2
2.16 m x 2.67 m (7'1" x 8'9")

Bathroom

Outside

Resident parking area

Communal gardens

Agent Details

HOME, Chelmsford

01245 945628

Next Steps?

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