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

Lupin Drive, Chelmsford, CM1 6FJ - 2 views - 3 months ago

Leasehold
BTL
ROI: 6%
~68 m²
+4 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

£223,850
BMV21%

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

50 sold prices from £130K to £259K, average is £204K. £2.4K/m² to £4.7K/m², average is £3.7K/m².

PriceDateDistanceAddressBeds 
£175K03/210 mi114, Lupin Drive, Chelmsford, Essex CM1 6FJ2
£180K03/230 mi114, Lupin Drive, Chelmsford, Essex CM1 6FJ2
£185K07/230.04 mi34, Lupin Drive, Chelmsford, Essex CM1 6FH2
£210K12/220.1 mi49, Canvey Walk, Chelmsford, Essex CM1 6LB2
£205.7K05/230.1 mi9, Canvey Walk, Chelmsford, Essex CM1 6LB2
£189.5K11/210.1 mi33, Canvey Walk, Chelmsford, Essex CM1 6LB2
£203K08/230.11 mi29, Azalea Court, Chelmsford, Essex CM1 6YL2
£167K04/210.22 mi48, Petunia Crescent, Chelmsford, Essex CM1 6YP2
£150K06/210.26 mi139, Cornflower Drive, Chelmsford, Essex CM1 6XZ2
£186K02/230.26 mi65, Cornflower Drive, Chelmsford, Essex CM1 6XZ2
£181K07/230.3 mi84, Foxglove Way, Chelmsford, Essex CM1 6QR2
£153K05/210.34 mi15, Clematis Tye, Chelmsford, Essex CM1 6GL2
£173K04/210.34 mi11, Clematis Tye, Chelmsford, Essex CM1 6GL2
£170K02/210.34 mi24, Clematis Tye, Chelmsford, Essex CM1 6GL2
£200K02/210.41 mi394, Springfield Road, Chelmsford, Essex CM2 6AT2
£185K06/210.41 mi133, Crocus Way, Chelmsford, Essex CM1 6XH2
£130K10/200.41 mi135, Crocus Way, Chelmsford, Essex CM1 6XH2
£177K06/210.45 mi29, Bodmin Road, Chelmsford, Essex CM1 6LJ2
£240K07/210.49 mi367, Springfield Road, Chelmsford, Essex CM2 6AW2
£245K03/230.5 mi290, Springfield Road, Chelmsford, Essex CM2 6BA2
£235K10/200.5 mi15, Forefield Green, Chelmsford, Essex CM1 6YU2
£248K11/210.51 mi81, Burnell Gate, Chelmsford, Essex CM1 6ED2
£259K02/210.51 mi47, Burnell Gate, Chelmsford, Essex CM1 6ED2
£250K02/230.51 mi85, Burnell Gate, Chelmsford, Essex CM1 6ED2
£205K04/210.53 mi181, Waveney Drive, Chelmsford, Essex CM1 7QD2
£215K06/230.6 mi73, Tamar Rise, Chelmsford, Essex CM1 7QL2
£212.5K04/210.6 mi73, Tamar Rise, Chelmsford, Essex CM1 7QL2
£195K03/230.6 mi63, Tamar Rise, Chelmsford, Essex CM1 7QL2
£202K11/200.64 mi19, Tamar Rise, Chelmsford, Essex CM1 7QL2
£200K03/210.65 mi18, Wavell Close, Springfield, Chelmsford, Essex CM1 6FQ2
£210K10/210.65 mi40, Wavell Close, Springfield, Chelmsford, Essex CM1 6FQ2
£225K12/220.71 mi45, Waveney Drive, Chelmsford, Essex CM1 7PZ2
£205K05/210.73 mi9, Blackwater Close, Chelmsford, Essex CM1 7QJ2
£230K03/230.75 mi2, Tees Road, Chelmsford, Essex CM1 7QH2
£230K07/230.75 mi8, Tees Road, Chelmsford, Essex CM1 7QH2
£161.3K03/210.87 mi25, Abell Way, Springfield, Chelmsford, Essex CM2 6WU2
£157.5K09/210.87 mi29, Abell Way, Springfield, Chelmsford, Essex CM2 6WU2
£255K07/230.88 mi23, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW2
£255K03/230.88 mi53, Wilshire Avenue, Springfield, Chelmsford, Essex CM2 6QW2
£210K10/210.91 mi28, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£202.5K03/230.91 mi56, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£240K02/230.93 mi23, Earlsfield Drive, Chelmsford, Essex CM2 6SX2
£165K02/210.94 mi42, Bryant Link, Springfield, Chelmsford, Essex CM2 6GZ2
£196.5K03/230.95 mi136, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£198K03/210.95 mi34, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£211K02/210.95 mi42, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£215K01/210.95 mi66, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£219K02/230.95 mi46, Ramshaw Drive, Chelmsford, Essex CM2 6UB2
£245K01/210.98 mi78, Chelmer Road, Chelmsford, Essex CM2 6AB2
£225K05/211 mi145, Beeleigh Link, Chelmsford, Essex CM2 6PH2

Local Rents

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

RentDateDistanceAddressBeds 
£1,10003/240.01 miLupin Drive, Springfield, Chelmsford, CM12
£1,05003/240.06 miLupin Drive, Chelmsford2
£1,10005/240.08 miLupin Drive, Chelmsford, Cm1, CM12
£1,10005/240.08 mi-2
£1,25001/250.16 mi-2
£1,05011/230.18 miRembrandt Grove2
£1,35003/250.18 mi-2
£1,10003/240.26 miCornflower Drive , Springfield2
£1,10003/240.29 miForsythia Close, Springfield2
£1,10005/240.31 miFoxglove Way, CM12
£1,20005/240.31 mi-2
£1,20005/240.31 miFoxglove Way, Chelmsford, CM12
£1,20005/240.31 miFoxglove Way, Chelmsford, CM12
£1,60004/240.31 miFalmouth Road, Chelmsford, CM12
£1,10005/240.33 miOasis Court, Chelmsford, CM22
£1,10004/240.36 miViolet Close, Chelmsford, CM12
£1,19512/240.4 mi-2
£1,10004/240.4 miCrocus Way, Springfield2
£1,15011/230.41 miSnowdrop Close, Chelmsford, Essex, CM12
£1,15003/240.42 miSpringfield Road, CM22
£1,20003/240.49 miSpringfield Road, CM22
£1,20003/240.51 miBurnell Gate, Beaulieu Park, Chelmsford, CM1 6ED2
£1,20003/240.51 miBurnell Gate, Beaulieu Park, CM12
£1,20003/240.52 miWaveney Drive, Chelmsford, CM12
£1,30005/240.54 miSpringfield Road, Chelmsford2

Local Area Statistics

Population in CM1

62,617

Population in Chelmsford

174,693

Town centre distance

1.66 miles away

Nearest school

0.10 miles away

Nearest train station

1.59 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 23, 2025

Floor Plans

Description

  • GROUND FLOOR APARTMENT +
  • NO ONWARD CHAIN +
  • TWO BEDROOMS +
  • GOOD SIZE LOUNGE +
  • CLOSE TO LOCAL SHOPS +
  • CLOSE TO BUS ROUTES INTO CITY CENTRE & STATION +
  • CONVENIENT FOR A12 +
  • POPULAR SPRINGFIELD LOCATION +
  • EXTENDED LEASE +
  • VIEWINGS RECOMMENDED +

Offered for sale with no onward chain, a good size two bedroom ground floor apartment with an extended lease of approximately 145 years. Situated in the popular Springfield development with local shopping parades and regular bus services to the City centre and mainline station close by.

Entrance to the property via communal PVCu double glazed entrance door leading into communal hallway, personal door through to

HALLWAY
Tiled flooring, access to

LOUNGE 4.88m (16'0") x 3.45m (11'4")
Window to front, doorway to

KITCHEN 2.57m (8'5") x 2.57m (8'5")
Window to front, range of base and eye level light oak style units complimented by roll top work surface, inset electric hob, oven beneath and filter hood over, tiled floor, tiled splashbacks, space for washing machine and space for fridge freezer.

BEDROOM ONE 3.81m (12'6") x 2.82m (9'3")
Window to rear.

BEDROOM TWO 2.77m (9'1") x 2.06m (6'9")
Window to rear.

BATHROOM
Three piece white suite comprising low level w.c., pedestal wash hand basin, panelled bath, tiled floor.

EXTERIOR
Communal gardens.

Please be aware that should you be successful in having an offer accepted through Adrians, we are legally required by the HMRC to conduct AML (Anti-Money Laundering) Checks for compliance efforts. For this there is a non-refundable charge of £20.00 including VAT per person which will be invoice receipted for your records.

Agent Details

Adrians, Chelmsford

01245 945751

Next Steps?

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