2 Bed Flat, Single Let, Norwich, NR1 2GG, £180,000

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

Leasehold
BTL
ROI: 6%
~68 m²
+12 photos

ValuationFair Value

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

 

 

Square Metres

~68.11 m²
Price/m²£2.6K/m²

Value Estimate

£179,896

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£45,000

Stamp Duty & Legal Fees

£10,200

Total Cash In

£55,200

 

 

Cash Out

 

Rent Range

£1,050 - £1,600

Rent Estimate

£1,050

Running Costs/mo

£793

Cashflow/mo

£258

Cashflow/yr

£3,090

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £107.5K to £325K, average is £149K. £1.8K/m² to £4.2K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£325K01/230.19 miFlat 34, Bridgemaster Court, Wherry Road, Norwich, Norfolk NR1 1XG2
£160K05/230.2 mi15, Abbey Court, Norwich, Norfolk NR1 2AW2
£225K12/200.25 mi37, Kerrison Road, Norwich, Norfolk NR1 1JB2
£150K12/230.26 mi27, Wherry Road, Norwich, Norfolk NR1 1WS2
£140K01/210.26 mi13, Wherry Road, Norwich, Norfolk NR1 1WS2
£173.5K03/230.26 mi2, Wherry Road, Norwich, Norfolk NR1 1WS2
£158K08/230.32 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.32 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2
£168K05/230.39 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£140K07/210.41 mi16, Gordon Square, Norwich, Norfolk NR1 3HJ2
£132.5K07/230.41 mi9, Gordon Square, Norwich, Norfolk NR1 3HJ2
£138K09/210.41 mi23, Gordon Square, Norwich, Norfolk NR1 3HJ2
£168K03/210.44 miFlat 1, Squires Haven, Clarence Road, Norwich, Norfolk NR1 1HQ2
£218K11/200.46 mi5, Maltsters Yard, Norwich, Norfolk NR1 1RQ2
£160K01/240.46 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£140K10/230.47 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£162K01/230.47 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£147.5K01/210.48 mi32, Wilson Road, Norwich, Norfolk NR1 1YP2
£162K04/230.48 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£225K09/210.48 miFlat 3, Trowse House, Bracondale Millgate, Norwich, Norfolk NR1 2EQ2
£143K01/240.5 mi64, Lakenfields, Norwich, Norfolk NR1 2HA2
£185K08/230.5 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£147.5K05/210.51 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£150K10/210.51 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£138K01/240.51 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£135K02/210.52 mi138, Thorpe Road, Norwich, Norfolk NR1 1RH2
£107.5K12/230.53 mi79, Ingram Court, Norwich, Norfolk NR1 2HQ2
£145K03/240.53 mi86, Scott Road, Norwich, Norfolk NR1 1YR2
£140K01/210.53 mi66, Scott Road, Norwich, Norfolk NR1 1YR2
£152K11/210.53 mi20, Scott Road, Norwich, Norfolk NR1 1YR2
£148K05/210.53 mi84, Scott Road, Norwich, Norfolk NR1 1YR2
£143K05/230.53 mi140, Scott Road, Norwich, Norfolk NR1 1YR2
£144K04/240.53 mi22, Scott Road, Norwich, Norfolk NR1 1YR2
£113K05/210.54 mi34, Sunny Hill, Norwich, Norfolk NR1 2ET2
£125K06/210.54 mi24, Sunny Hill, Norwich, Norfolk NR1 2ET2
£155K03/230.54 mi77, Scott Road, Norwich, Norfolk NR1 1YL2
£160K07/230.54 mi129, Scott Road, Norwich, Norfolk NR1 1YL2
£160K02/230.54 mi75, Scott Road, Norwich, Norfolk NR1 1YL2
£140K05/230.54 mi21, Scott Road, Norwich, Norfolk NR1 1YL2
£159K12/230.54 mi51, Scott Road, Norwich, Norfolk NR1 1YL2
£122K10/210.54 mi105, Rosary Road, Norwich, Norfolk NR1 4BX2
£115K03/210.54 mi4, Hill House Road, Norwich, Norfolk NR1 4BW2
£145K02/230.55 mi144b, Thorpe Road, Norwich, Norfolk NR1 1RH2
£166K10/210.56 mi18, Ingram Court, Norwich, Norfolk NR1 2PY2
£125K02/210.57 mi2, Suncroft, Long John Hill, Norwich, Norfolk NR1 2EP2
£158K02/230.57 mi38, Glendenning Road, Norwich, Norfolk NR1 1YS2
£138.5K12/200.58 mi90, Glendenning Road, Norwich, Norfolk NR1 1YN2
£203K09/210.58 mi156, Brazen Gate, Norwich, Norfolk NR1 3SB2
£150K08/230.6 mi39, Glendenning Road, Norwich, Norfolk NR1 1YS2
£260K11/210.61 mi17, St Martin At Bale Court, Norwich, Norfolk NR1 3DZ2

Local Rents

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

RentDateDistanceAddressBeds 
£1,20006/240 miBlue Mill, Paper Mill Yard2
£1,20012/240 miNorwich, NR12
£1,30006/240.04 mi-2
£1,30006/240.04 miPaper Mill Yard, Norwich, NR12
£1,20012/240.04 mi-2
£1,10006/240.04 miPaper Mill Yard, King Street, Norwich, NR12
£1,40006/240.08 miThe Malt House, NR1 2TP2
£1,05006/240.08 miAllison Bank, Geoffrey Watling Way, Norwich2
£1,30006/240.09 miGeoffrey Watling Way, NORWICH2
£1,40006/240.09 miCity Centre, Norwich, NR12
£1,20010/240.09 mi-2
£1,60006/240.1 miNorwich, NR12
£1,40006/240.11 miKing Street, Norwich2
£1,09512/240.11 miGeoffrey Watling Way, Norwich, Norfolk, NR12
£1,35012/240.11 miLochhead Bank, NR1 1GF2
£1,25012/240.12 miLochhead Bank, Norwich2
£1,50004/250.12 mi-2
£1,35006/240.12 miNew Ferry Yard2
£1,05012/240.13 miRobinson Bank, Norwich, NR1 1GG2
£1,20006/240.14 miKing Street, Norwich2
£1,45012/240.14 mi-2
£1,49504/250.14 mi-2
£1,49504/250.14 mi-2
£1,45012/240.14 miSolace, Norwich, NR12
£1,35003/250.17 mi-2
£1,45003/250.17 mi-2
£1,30004/240.17 mi-2
£1,55003/240.18 mi-2
£1,30006/240.19 miWherry Road, NORWICH2
£1,35012/240.19 miWherry Road, Norwich, Norfolk, NR12
£1,25006/240.19 miKing Street, NORWICH2
£1,20006/240.22 miCanary Quay, NR12
£1,20006/240.22 miCanary Quay, NR12
£1,35012/240.22 miRichard Hawthorn House, NR1 1GS2
£1,40006/240.22 miGeoffrey Watling Way, NORWICH2
£1,60012/240.22 miRichard Hawthorne House, Norwich2
£1,35012/240.23 miGeoffrey Watling Way, Norwich, NR12
£1,50002/240.23 mi-2
£1,05006/240.25 miCity Road2
£1,10006/240.25 miCarrow Road, Norwich2
£1,10006/240.26 mi-2
£1,10012/240.26 mi-2
£1,15002/250.26 mi-2
£1,30012/240.26 miNorwich, NR12
£1,10012/240.26 miWherry Road, Norwich2
£1,27009/240.26 mi-2
£1,15012/240.26 mi-2
£1,20012/240.26 mi-2
£1,20012/240.26 mi-2
£1,15012/240.28 miCity Road, Norwich, NR12
£1,25012/240.29 miEast Bank, Wherry Road, Norwich, NR12
£1,20012/240.3 miCarlyle Road, Norwich2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.51 miles away

Nearest school

0.40 miles away

Nearest train station

0.47 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Price changed to £180,000

March 16, 2025

Listed for £185,000

February 24, 2025

Floor Plans

Description

  • NO ONWARD CHAIN +
  • Sought after development +
  • Fantastic first time buy/ buy to let +
  • Close to the city centre & amenities +
  • Popular NR1 postcode +
  • Allocated parking +
  • White goods included +

SUMMARY
THIS TWO BEDROOM IMMACULATELY PRESENTED APARTMENT is situated in a sought after development in the popular NR1 postcode. The property would make a fantastic first time buy or buy to let investment and is being sold with the added benefit of NO ONWARD CHAIN. Viewings are highly recommended!

DESCRIPTION
Situated within an elevated position in a sought after development, offering an allocated parking space. THIS TWO BEDROOM IMMACULATELY PRESENTED APARTMENT has recently been used as a buy to let investment and now being sold vacant and CHAIN FREE. This property would be suitable either for buy to let investment once more, first time buyers, or simply someone looking to be situated close to the city and its wide variety of amenities.

To schedule a viewing, please do contact the office in the first instance!

Entrance Hall 
Carpeted floor and radiator.

Lounge/ Kitchen 20' 9" x 10' 3" ( 6.32m x 3.12m )
Window to rear, carpeted floor and radiator.

Kitchen area:- Wall & base units, work surfaces, electric oven, electric hob, electric cooker head and stainless steel sink unit.

Bedroom One 15' 9" x 9' 7" ( 4.80m x 2.92m )
Window to rear, carpeted floor and radiator.

Bedroom Two 13' x 9' ( 3.96m x 2.74m )
Window to front, carpeted floor and radiator.

Bathroom 
Bath with shower over, wash hand basin, wc, fully tiled and underfloor heating.

Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

William H. Brown, Norwich

01603 361933

Next Steps?

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