2 Bed Terraced House, Single Let, Norwich, NR1 1GW, £240,000

Allison Bank, Geoffrey Watling Way, Norwich, NR1 1GW - 2 months ago

Leasehold
BTL
ROI: 1%
~78 m²
+26 photos

ValuationUndervalued

Sold Prices£138K - £1.3M
Sold Prices/m²£2.3K/m² - £5.9K/m²

 

 

Square Metres

~77.57 m²
Price/m²£3.1K/m²

Value Estimate

£245,814
BMV2%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£13,200

Total Cash In

£73,200

 

 

Cash Out

 

Rent Range

£1,050 - £1,600

Rent Estimate

£1,050

Running Costs/mo

£980

Cashflow/mo

£70

Cashflow/yr

£840

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £138K to £1.3M, average is £225K. £2.3K/m² to £5.9K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£435K06/210.16 mi69, Kerrison Road, Norwich, Norfolk NR1 1JB2
£195K01/230.16 mi3, Kerrison Road, Norwich, Norfolk NR1 1JB2
£138K11/230.16 mi6, Alan Road, Norwich, Norfolk NR1 2BX2
£205K03/210.18 mi252, King Street, Norwich, Norfolk NR1 2BU2
£208K07/240.18 mi6, Stuart Road, Norwich, Norfolk NR1 2BY2
£200K08/210.21 mi23, Hardy Road, Norwich, Norfolk NR1 1JL2
£238K04/230.21 mi13, Hardy Road, Norwich, Norfolk NR1 1JL2
£220K06/230.21 mi23, Hardy Road, Norwich, Norfolk NR1 1JL2
£170K12/200.23 mi43, Hardy Road, Norwich, Norfolk NR1 1JN2
£258K04/240.25 mi74, Bracondale, Norwich, Norfolk NR1 2BE2
£350K04/240.26 mi58c, Bracondale, Norwich, Norfolk NR1 2AP2
£250K08/230.3 mi7, Bracondale Court, Norwich, Norfolk NR1 2AS2
£213.5K01/210.31 mi6, Bracondale Green, Norwich, Norfolk NR1 2AG2
£229K05/210.31 mi22, Bracondale, Norwich, Norfolk NR1 2AF2
£230K03/240.32 mi87, Carrow Road, Norwich, Norfolk NR1 1HP2
£160K04/230.32 mi89, Carrow Road, Norwich, Norfolk NR1 1HP2
£340K07/230.33 mi15, Cedar Road, Norwich, Norfolk NR1 1HL2
£225K07/210.34 mi20, Doman Road, Norwich, Norfolk NR1 3AW2
£315K07/230.34 mi49, Cricket Ground Road, Norwich, Norfolk NR1 3BQ2
£240K04/230.34 mi47, Cricket Ground Road, Norwich, Norfolk NR1 3BQ2
£340K12/230.34 mi30, Cricket Ground Road, Norwich, Norfolk NR1 3BQ2
£215K11/230.34 mi8, Geoffrey Road, Norwich, Norfolk NR1 3BN2
£195K04/210.35 mi12, Harbour Road, Norwich, Norfolk NR1 1HN2
£270K11/230.35 mi6, Bellville Crescent, Norwich, Norfolk NR1 3AR2
£250K01/210.35 mi6, Bellville Crescent, Norwich, Norfolk NR1 3AR2
£160K02/210.36 mi226, Queens Road, Norwich, Norfolk NR1 3HG2
£266K12/230.36 mi32, Carshalton Road, Norwich, Norfolk NR1 3BW2
£273K12/220.36 mi41, Carshalton Road, Norwich, Norfolk NR1 3BW2
£310K10/220.38 mi6, Mariners Lane, Norwich, Norfolk NR1 3AF2
£158.5K01/230.38 mi21, Mariners Lane, Norwich, Norfolk NR1 3AF2
£212K08/210.4 mi4, Carlyle Road, Norwich, Norfolk NR1 3AB2
£300K11/230.4 mi37, Carlyle Road, Norwich, Norfolk NR1 3AB2
£190K11/200.4 mi48, Carlyle Road, Norwich, Norfolk NR1 3AB2
£225K11/210.4 mi47, Carlyle Road, Norwich, Norfolk NR1 3AB2
£185K06/210.4 mi46, Carlyle Road, Norwich, Norfolk NR1 3AB2
£195K12/220.4 mi20, Carlyle Road, Norwich, Norfolk NR1 3AB2
£240K11/230.4 mi35, Carlyle Road, Norwich, Norfolk NR1 3AB2
£185.1K08/230.4 mi11, Carlyle Road, Norwich, Norfolk NR1 3AB2
£192K02/230.4 mi19, Carlyle Road, Norwich, Norfolk NR1 3AB2
£285K04/240.42 mi4, Cricket Ground Road, Norwich, Norfolk NR1 3BA2
£1.3M07/240.42 mi118a, Thorpe Road, Norwich, Norfolk NR1 1RT2
£296.5K07/230.42 mi118b, Thorpe Road, Norwich, Norfolk NR1 1RT2
£155K01/230.44 mi82, Scott Road, Norwich, Norfolk NR1 1YR2
£140K01/230.44 mi113, Scott Road, Norwich, Norfolk NR1 1YL2
£210K03/210.44 mi20, Jubilee Terrace, Norwich, Norfolk NR1 2HT2
£200K04/240.44 mi13, Jubilee Terrace, Norwich, Norfolk NR1 2HT2
£240.6K11/210.48 mi3, Cyprus Street, Norwich, Norfolk NR1 3AX2
£230K12/200.48 mi35, Cyprus Street, Norwich, Norfolk NR1 3AX2
£222.5K02/230.48 mi31, Cyprus Street, Norwich, Norfolk NR1 3AX2
£256K11/230.48 mi30, Cyprus Street, Norwich, Norfolk NR1 3AX2

Local Rents

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

RentDateDistanceAddressBeds 
£1,05006/240.02 miAllison Bank, Geoffrey Watling Way, Norwich2
£1,20010/240.03 mi-2
£1,09512/240.03 miGeoffrey Watling Way, Norwich, Norfolk, NR12
£1,35012/240.03 miLochhead Bank, NR1 1GF2
£1,25012/240.04 miLochhead Bank, Norwich2
£1,05012/240.05 miRobinson Bank, Norwich, NR1 1GG2
£1,45012/240.06 mi-2
£1,49504/250.06 mi-2
£1,49504/250.06 mi-2
£1,45012/240.06 miSolace, Norwich, NR12
£1,10006/240.06 miPaper Mill Yard, King Street, Norwich, NR12
£1,40006/240.06 miCity Centre, Norwich, NR12
£1,30006/240.06 mi-2
£1,30006/240.06 miPaper Mill Yard, Norwich, NR12
£1,60006/240.06 miNorwich, NR12
£1,30006/240.06 miGeoffrey Watling Way, NORWICH2
£1,45003/250.09 mi-2
£1,20012/240.09 mi-2
£1,20012/240.09 miNorwich, NR12
£1,35003/250.09 mi-2
£1,20006/240.1 miBlue Mill, Paper Mill Yard2
£1,55003/240.11 mi-2
£1,40006/240.14 miThe Malt House, NR1 2TP2
£1,40006/240.15 miKing Street, Norwich2
£1,20006/240.15 miCanary Quay, NR12
£1,20006/240.15 miCanary Quay, NR12
£1,35012/240.15 miRichard Hawthorn House, NR1 1GS2
£1,40006/240.15 miGeoffrey Watling Way, NORWICH2
£1,60012/240.15 miRichard Hawthorne House, Norwich2
£1,35012/240.15 miGeoffrey Watling Way, Norwich, NR12
£1,50002/240.15 mi-2
£1,10006/240.16 miCarrow Road, Norwich2
£1,35006/240.17 miNew Ferry Yard2
£1,30004/240.17 mi-2
£1,50004/250.18 mi-2
£1,20006/240.18 miKing Street, Norwich2
£1,30006/240.2 miWherry Road, NORWICH2
£1,35012/240.2 miWherry Road, Norwich, Norfolk, NR12
£1,25006/240.22 miKing Street, NORWICH2
£1,10006/240.25 mi-2
£1,10012/240.25 mi-2
£1,15002/250.25 mi-2
£1,30012/240.25 miNorwich, NR12
£1,10012/240.25 miWherry Road, Norwich2
£1,27009/240.26 mi-2
£1,25006/240.26 mi-2
£1,15012/240.27 mi-2
£1,20012/240.27 mi-2
£1,20012/240.27 mi-2
£1,25012/240.29 miEast Bank, Wherry Road, Norwich, NR12
£1,10012/240.3 mi-2
£1,05006/240.34 miCity Road2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.51 miles away

Nearest school

0.50 miles away

Nearest train station

0.43 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Price changed to £240,000

March 8, 2025

Listed for £250,000

February 17, 2025

Floor Plans

Description

  • IDEAL PIED-À-TERRE or investment opportunity +
  • With Underground Parking +
  • Underfloor Heating Throughout +
  • Close to Local Amenities +
  • Sleek and Stylish Throughout +
  • Master Bedroom with Ensuite +

Sefftons are pleased to present this IMPRESSIVE, MODERN APARTMENT offering STYLISH, OPEN PLAN CITY LIVING in a GREAT RIVERSIDE LOCATION. Benefitting from a SECLUDED SUN TERRACE with views over the city skyline and beyond. This HIGH QUALITY apartment would make an IDEAL PIED-À-TERRE or investment and is ideal for professionals. BOOK YOUR VIEWING TODAY.

THE PROPERTY
The apartment is located on the seventh floor and accessed via either one of three lifts or stairs. It offers generous accommodation throughout, with Karndean style flooring and underfloor heating across the whole apartment. It offers two well proportioned and bright double bedrooms, one with a contemporary ensuite shower room, as well as a modern bathroom.
There is an opening through to the stylish kitchen, which features built in appliances and wooden worktops. Completing the accommodation is the living area, which is open plan, with a breakfast bar and aluminium sliding doors opening onto the impressive sun terrace.

OUTSIDE:
The property benefits from one allocated parking space located in the private ground floor garage.
It also boasts a good sized balcony to enjoy the city views, alongside beautifully kept communal grounds.

SERVICE CHARGES:
The ground rent is £350 PA
Service charges are around £250 PM
The remaining lease is 111 approx
An EWS1 Form is also present.
Council Tax Band: C

LOCAL AREA:
The property situated on the edge of Norwich Centre, close to NCFC with the City itself being 10 minutes walk away. Norwich City centre has vibrant business and arts community and also the regional shopping centre. The prominent market stands in the centre of the city, nearly in the shadow of the castle, and nearby is the library which is in the Forum. Norwich Cathedral is situated in The Close and on the edge of the river and there is a wide variety of bars, restaurants and leisure pursuits available within the city and a number of schools in both the state and private sector.

SEFFTONS
Sefftons confirm that these particulars are believed to be accurate, however they are a brief summary issued for general guidance only and are not comprehensive. These particulars and any text, measurements, dimensions or indicative plans made available are for general information only and does not form part of any offer or contract. Prospective purchases should not rely on these particulars and must satisfy themselves on all aspects by inspection or otherwise. The employees and representatives of SEFFTONS are not authorised to make or give any representations, assurances or warranties for the property, whether within these particulars or otherwise, and no liability is accepted to the purchaser in this respect.

Agent Details

Sefftons, Norfolk

01603 361026

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪