2 Bed Flat, Single Let, Chelmsford, CM1 3GS, £210,000

Parkinson Drive, Chelmsford, CM1 3GS - 2 views - a month ago

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

ValuationUndervalued

Sold Prices£80.8K - £325K
Sold Prices/m²£2K/m² - £5.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.1K/m²

Value Estimate

£259,745
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£52,500

Stamp Duty & Legal Fees

£7,500

Total Cash In

£60,000

 

 

Cash Out

 

Rent Range

£1,075 - £1,600

Rent Estimate

£1,200

Running Costs/mo

£916

Cashflow/mo

£284

Cashflow/yr

£3,405

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £80.8K to £325K, average is £216.5K. £2K/m² to £5.5K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£195K03/210.06 mi74, Parkinson Drive, Chelmsford, Essex CM1 3GH2
£195K01/230.06 mi72, Parkinson Drive, Chelmsford, Essex CM1 3GH2
£260K01/210.08 mi39, Upper Bridge Road, Chelmsford, Essex CM2 0AZ2
£225K10/210.09 mi193, Rookes Crescent, Chelmsford, Essex CM1 3GN2
£218K04/210.09 mi187, Rookes Crescent, Chelmsford, Essex CM1 3GN2
£215K04/210.11 mi39, Haig Court, Chelmsford, Essex CM2 0BH2
£195K03/230.11 mi8, Haig Court, Chelmsford, Essex CM2 0BH2
£225K10/210.13 mi20, Parkinson Drive, Chelmsford, Essex CM1 3GH2
£215K04/210.13 mi58, Parkinson Drive, Chelmsford, Essex CM1 3GH2
£190K06/210.13 mi64, Parkinson Drive, Chelmsford, Essex CM1 3GH2
£307.5K07/230.14 mi30, Bradford Street, Chelmsford, Essex CM2 0FJ2
£197.5K01/210.14 mi29, Rookes Crescent, Chelmsford, Essex CM1 3GL2
£213K10/200.14 mi5, Rookes Crescent, Chelmsford, Essex CM1 3GL2
£197K04/230.14 mi23, Rookes Crescent, Chelmsford, Essex CM1 3GL2
£207.5K05/230.15 mi66, Haig Court, Chelmsford, Essex CM2 0BJ2
£184K12/200.15 mi108, Crompton Street, Chelmsford, Essex CM1 3GP2
£205K01/230.16 mi39, Evelyn Place, Chelmsford, Essex CM1 3GZ2
£186K08/210.17 mi29, Evelyn Place, Chelmsford, Essex CM1 3GZ2
£202K03/230.17 mi35, Evelyn Place, Chelmsford, Essex CM1 3GZ2
£325K01/230.22 miFlat 32, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW2
£254K03/230.23 miFlat 6, Crompton House, Writtle Road, Chelmsford, Essex CM1 3RW2
£250K04/230.23 miFlat 8, Crompton House, Writtle Road, Chelmsford, Essex CM1 3RW2
£223K11/210.27 mi38, Stapleford Close, Chelmsford, Essex CM2 0RB2
£215K01/230.28 mi47, Stapleford Close, Chelmsford, Essex CM2 0RB2
£310K05/230.29 miFlat 56, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW2
£320K07/230.29 miFlat 47, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW2
£313K06/210.29 miFlat 31, Callow Court, Seymour Street, Chelmsford, Essex CM2 0RW2
£232K05/210.31 mi82, Stapleford Close, Chelmsford, Essex CM2 0QX2
£250K06/210.31 mi98, Stapleford Close, Chelmsford, Essex CM2 0QX2
£232K05/210.32 mi82, Stapleford Close, Chelmsford, Essex CM2 0QX2
£200K03/210.33 mi54, Redmayne Drive, Chelmsford, Essex CM2 9AG2
£250K07/230.34 mi92a, Moulsham Street, Chelmsford, Essex CM2 0JF2
£240K10/210.36 miFlat 4, King George Court, Moulsham Street, Chelmsford, Essex CM2 0JE2
£275K03/210.39 mi34, Hayes Close, Chelmsford, Essex CM2 0RN2
£175K02/210.4 mi18, Delamere Road, Chelmsford, Essex CM1 2TG2
£227.5K12/220.42 mi162, Redmayne Drive, Chelmsford, Essex CM2 9XE2
£112.5K01/230.42 mi214, Redmayne Drive, Chelmsford, Essex CM2 9XE2
£200K05/230.43 mi65, Redmayne Drive, Chelmsford, Essex CM2 9XG2
£282.5K11/210.44 mi4, Alma Drive, Chelmsford, Essex CM1 1TW2
£183K06/210.44 mi13, Brooklands Walk, Chelmsford, Essex CM2 9BH2
£183K06/210.45 mi13, Brooklands Walk, Chelmsford, Essex CM2 9BH2
£204K12/200.45 mi52, Brooklands Walk, Chelmsford, Essex CM2 9BH2
£140K07/210.48 mi62, Godfreys Mews, Chelmsford, Essex CM2 0XE2
£280K09/210.48 mi3, County Place, Chelmsford, Essex CM2 0RF2
£218K03/210.51 mi24, Rainsford Lane, Chelmsford, Essex CM1 2QR2
£220K12/220.56 mi18, Coval Lane, Chelmsford, Essex CM1 1TD2
£80.8K03/210.6 miFlat 54, Wells Crescent, Viaduct Road, Chelmsford, Essex CM1 1GR2
£85K06/210.6 miFlat 4, Fenton Court, Burgess Springs, Chelmsford, Essex CM1 1HW2
£265K01/210.64 mi11, Grace Bartlett Gardens, Chelmsford, Essex CM2 9FW2
£300K09/210.64 mi5, Grace Bartlett Gardens, Chelmsford, Essex CM2 9FW2

Local Rents

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

RentDateDistanceAddressBeds 
£1,17503/240.01 miParkinson Drive, CHELMSFORD2
£1,30004/240.01 miParkinson Drive, Chelmsford2
£1,20005/240.01 miParkinson Drive, CHELMSFORD2
£1,20003/240.01 miParkinson Drive, CM12
£1,20003/240.03 miParkinson Drive, Chelmsford, CM1 3GW2
£1,35003/240.06 miUpperbridge Road, Old Moulsham, Chelmsford, CM22
£1,40003/240.06 miUpperbridge Road, Old Moulsham, Chelmsford, CM22
£1,25004/240.09 miRookes Crescent, Chelmsford, Essex, CM12
£1,25004/240.09 miRookes Crescent, Chelmsford2
£1,30005/240.09 miRookes Crescent, Chelmsford2
£1,40004/240.1 miUpper Bridge Road, Chelmsford2
£1,40004/240.1 miUpper Bridge Road, Chelmsford2
£1,35001/250.12 mi-2
£1,60004/240.13 miUpper Bridge Road, Old Moulsham, Chelmsford, CM2 0BA2
£1,45004/240.13 miUpper Bridge Road, Old Moulsham, Chelmsford, CM2 0BA2
£1,07503/250.14 mi-2
£1,20004/240.15 miHaig Court, CHELMSFORD2
£1,20003/240.15 miParkinson Drive, Chelmsford2
£1,15004/240.15 miHaig Court, Chelmsford, CM22
£1,25001/250.15 mi-2
£1,30004/240.15 miCrompton Street, Chelmsford, CM12
£1,35004/240.15 miCrompton Street, Chelmsford2
£1,30003/240.16 miUpper Bridge Road, Chelmsford, CM22
£1,30003/240.16 mi-2
£1,30003/250.16 mi-2
£1,20004/240.16 miEvelyn Place, CM12
£1,30004/240.17 miUpper Bridge Road, Chelmsford2
£1,30003/250.17 mi-2
£1,40012/240.18 mi-2
£1,19504/240.19 miLower Anchor Street, Old Moulsham2
£1,35004/240.19 miFalcons Mead, CITY CENTRE, Chelmsford, CM2 0NN2
£1,35003/240.2 miLower Anchor Street, Chelmsford, CM22
£1,35003/240.2 miLower Anchor Street, Chelmsford, CM22
£1,50004/240.21 miCrompton Street, Chelmsford, CM12
£1,40004/240.21 miCrompton Street, Chelmsford2
£1,30005/240.22 miBradford Street, Chelmsford2
£1,25002/240.23 mi-2
£1,10004/240.27 mi Joseph Court Chelmsford, Essex, CM1 3WQ, UK2
£1,50012/240.27 miWolseley Road, Chelmsford, Essex, CM22
£1,40004/240.27 miNew Writtle Street, Chelmsford, CM22
£1,35005/240.27 miNew Writtle Street, Chelmsford, CM22
£1,35004/240.28 miNew Writtle Street, Chelmsford, CM2 0RR2
£1,25003/240.28 miNew Writtle Street, Chelmsford, CM22
£1,25004/240.28 miNew Writtle Street, Chelmsford, CM22
£1,37503/240.32 miRedcliffe Road, Old Moulsham, Chelmsford, CM22
£1,20005/240.32 miStapleford Close, Chelmsford, CM22
£1,20012/240.32 miStapleford Close, Chelmsford, CM22
£1,25003/240.32 miMoulsham Street, Chelmsford2
£1,25004/240.32 miMoulsham Street, Chelmsford2
£1,30004/240.33 miAnchor Street, Chelmsford, CM22

Local Area Statistics

Population in CM1

62,617

Population in Chelmsford

174,693

Town centre distance

0.64 miles away

Nearest school

0.20 miles away

Nearest train station

0.64 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £210,000

February 25, 2025

Floor Plans

Description

  • 164 years remaining on lease +
  • Ground floor apartment +
  • 0.8 miles walk to Chelmsford train station +
  • Open plan lounge/diner with doors to communal garden +
  • Separate fitted kitchen +
  • Residents parking +
  • Good access to A12 & A414 +
  • Close proximity to local amenities +
  • Ideal first time purchase +
  • Great investment opportunity - 5.34% rental yield +

This charming ground floor apartment in Chelmsford is the perfect opportunity for those looking for their first home or a solid investment property. With 164 years remaining on the lease, this property offers peace of mind and security for the future.

As you enter the apartment, you are welcomed into a spacious open plan lounge/diner with doors leading out to a communal garden, perfect for enjoying the outdoors on sunny days. The separate fitted kitchen provides ample space for cooking and storing essentials, making meal preparation a breeze. The property also benefits from residents parking, ensuring convenience for those with a vehicle. For commuters, the location of this flat is ideal, being just a short 0.8 mile walk to Chelmsford train station. Easy access to the A12 and A414 also make travelling by car a convenient option.

Chelmsford itself offers a wealth of amenities, with a range of shops, restaurants, and local attractions nearby. From exploring the beautiful Hylands Park to shopping at the bustling High Chelmer Shopping Centre, there is no shortage of things to do in this vibrant city.

Tenure: Leasehold

Band C is the Council Tax band for this property and the annual council tax bill is £1,852.88.

Lease length: 189 Years from 24th December 2001 (currently 164 remaining years).

Ground rent: £150 per annum which is due to increase as per the Retail Price Index

Service charge: £1800 per annum paid yearly or monthly. The service charge is reviewed annually.

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.

Entrance hall

Lounge/diner
5.51 m x 3.71 m (18'1" x 12'2")

Kitchen
2.77 m x 2.41 m (9'1" x 7'11")

Bedroom 1
3.30 m x 2.69 m (10'10" x 8'10")

Bedroom 2
3.17 m x 2.16 m (10'5" x 7'1")

Bathroom

Agent Details

HOME, Chelmsford

01245 945628

Next Steps?

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