2 Bed Flat, Single Let, Norwich, NR8 5GB, £160,000

Fairway, Costessey, NR8 5GB - 24 days ago

Leasehold
BTL
ROI: 4%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£120K - £187K
Sold Prices/m²£1.9K/m² - £3.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£178,407
BMV12%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£9,200

Total Cash In

£49,200

 

 

Cash Out

 

Rent Range

£850 - £1,200

Rent Estimate

£880

Running Costs/mo

£696

Cashflow/mo

£184

Cashflow/yr

£2,208

ROI

4%

Gross Yield

7%

Local Sold Prices

44 sold prices from £120K to £187K, average is £145K. £1.9K/m² to £3.3K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£145K04/210 mi152, Fairway, Costessey, Norwich, Norfolk NR8 5GB2
£155K06/230.2 mi61, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£124K04/210.2 mi65, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£136K05/230.2 mi55, Solario Road, Costessey, Norwich, Norfolk NR8 5EJ2
£150K06/210.23 miFlat 6, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£130K10/200.26 miFlat 15, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£152K08/240.26 miCheena Court, Flat 22, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£122.5K03/210.26 miFlat 22, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£150K06/230.26 miFlat 19, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£155K06/220.26 miFlat 29, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£163K12/220.26 miFlat 25, Cheena Court, Solario Road, Costessey, Norwich, Norfolk NR8 5EP2
£175K06/220.31 mi35, Coronach Close, Costessey, Norwich, Norfolk NR8 5EZ2
£156.1K04/230.33 mi27, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£147K07/220.33 mi37, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£150K12/220.33 mi79, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£151K07/240.33 mi87, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£145K05/230.36 mi4, Sir Alfred Munnings Road, Costessey, Norwich, Norfolk NR8 5EE2
£146K09/210.36 mi2, Sir Alfred Munnings Road, Costessey, Norwich, Norfolk NR8 5EE2
£148K09/220.37 mi75, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£145K08/220.37 mi73, Bahram Road, Costessey, Norwich, Norfolk NR8 5EY2
£120K01/210.39 mi68, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£133.5K11/210.4 mi72, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£135K04/210.4 mi58, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£143K11/220.4 mi64, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£185K10/230.4 mi15, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£165K08/220.4 mi76, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£160K02/230.41 mi42, Poethlyn Drive, Costessey, Norwich, Norfolk NR8 5ET2
£135K04/210.42 mi58, Magnolia Way, Costessey, Norwich, Norfolk NR8 5EH2
£145K11/200.45 miFlat 13, Woodpecker Court, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FE2
£180K01/240.45 mi13, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FF2
£130K05/210.46 miFlat 11, Woodpecker Court, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FE2
£120K04/210.46 miFlat 1, Dunnock Court, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FG2
£130K05/210.46 miFlat 12, Dunnock Court, Dunnock Drive, Costessey, Norwich, Norfolk NR8 5FG2
£147.5K05/210.48 mi35, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FD2
£163K07/220.51 mi21, Woodpecker Way, Costessey, Norwich, Norfolk NR8 5FD2
£142.5K08/210.53 mi1, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£131K12/220.53 mi7, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£187K01/230.53 mi19, Bittern Road, Costessey, Norwich, Norfolk NR8 5FL2
£135K11/210.55 mi14, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£122K03/210.55 mi12, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£126.5K06/210.55 mi4, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£125K07/210.55 mi10, Teal Drive, Costessey, Norwich, Norfolk NR8 5FQ2
£145K01/210.59 mi40, Redpoll Road, Costessey, Norwich, Norfolk NR8 5FZ2
£150K03/240.94 mi21, Tower Close, Costessey, Norwich, Norfolk NR8 5AU2

Local Rents

20 rents from £850/mo to £1.2K/mo, average is £913/mo.

RentDateDistanceAddressBeds 
£90006/240.01 miFairway, Costessey, Norwich, Norfolk, NR82
£90012/240.01 miFairway, Costessey, Norwich, Norfolk, NR82
£1,10004/250.05 mi-2
£1,10006/240.16 mi-2
£1,20006/240.17 miKestrel Avenue, Costessey2
£87506/240.17 miNorwich2
£96003/250.18 mi-2
£95012/240.26 miCheena Court, Costessey, Norwich2
£95012/240.33 miBahram Road, Costessey, NORWICH2
£85012/240.38 miRon Hill Road, Norwich2
£89512/240.4 miQueens Hills2
£85006/240.45 miWoodpecker Court, Woodpecker Way, Costessey2
£89512/240.47 miWoodpecker Way, Queens Hill2
£89512/240.47 miNightingale Mews, Norwich2
£92512/240.47 mi-2
£1,20003/250.5 mi-2
£1,20003/250.53 mi-2
£90006/240.54 miFalcon Crescent, Costessey, Norwich2
£1,00012/240.56 miFalcon Crescent, Costessey, NR82
£90006/240.6 miRedpoll Road, Costessey2

Local Area Statistics

Population in NR8

20,321

Population in Norwich

366,887

Town centre distance

5.20 miles away

Nearest school

0.30 miles away

Nearest train station

6.14 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+17%

Property History

Listed for £160,000

March 18, 2025

Floor Plans

Description

  • Ground floor apartment positioned within a popular development +
  • Located west of Norwich city centre, within easy access to Costessey's amenities +
  • Private setting backing onto mature woodlands +
  • Turn-key condition that is ready to move into, with bright and spacious interiors +
  • Open-plan kitchen/living/dining room, equipped with high-quality fixtures and fittings to elevate your living experience +
  • Juliet balcony for your outdoor seating to enjoy the fresh air and sunshine +
  • Two double bedrooms, a private en-suite and a bathroom +
  • Communal bike store, allocated parking and communal well-kept gardens +
  • Close to local shops, bus routes, healthcare facilities and easy access to the A47 +

Presenting this ground floor apartment within a sought-after development in Costesssey, situated to the west of Norwich city centre. Located within private setting that backs onto mature woodlands, this apartment is thoughtfully designed with high-quality fixtures and fittings. Showcasing an open-plan kitchen/dining/living area with a Juliet balcony, two double bedrooms, a private en-suite and a bathroom. Externally, you benefit from a communal bike store, allocated parking and communal well-kept gardens. Location Costessey is a suburban area located to the west of Norwich, in Norfolk. It is a largely residential area with a blend of both modern housing developments and older properties. The village itself is historically significant, with several notable landmarks, including Costessey Hall, which was once the home of the Howard family. The area benefits from good transportation links to Norwich, making it an attractive place for commuters. In recent years, Costessey has seen growth in amenities, including schools, parks, and shopping centres, adding to its appeal as a desirable location for families and individuals looking for a balance of suburban living with access to the city. Fairway

Upon entering, you are immediately captivated by the modern and bright interiors of this turn-key property. The welcoming ambience of the open-plan kitchen/living/dining room sets the tone for the rest of the apartment. Enhanced by high-quality fixtures and fittings that elevate your living experience, perfect for cooking your favourite meals, relaxing with loved ones or entertaining guests. Allowing natural light to flood in, the living area extends seamlessly to a Juliet balcony, providing an ideal spot for outdoor seating where one can enjoy the sun.

The apartment features two double bedrooms, each thoughtfully designed to offer relaxation and privacy. The master bedroom flaunts a private en-suite for added convenience, while the main bathroom caters to the needs of guests and residents.

Residents of this development are provided with additional amenities.. A communal bike store ensures secure storage, while allocated parking offers convenient parking solutions. The communal gardens are well-maintained, for residents to enjoy the outdoors without having to leave the comfort of their home.

Agents notes

We understand that this property is leasehold, with 115 years left on the lease. Ground rent - £225 per year. Maintenance fee is currently being reviewed, please call our Dereham office for further details. Connected to mains water, electricity, gas and drainage. Heating system - Gas central heating. Council tax band: B

EPC Rating: C Disclaimer Minors and Brady, along with their representatives, are not authorized to provide assurances about the property, whether on their own behalf or on behalf of their client. We do not take responsibility for any statements made in these particulars, which do not constitute part of any offer or contract. It is recommended to verify leasehold charges provided by the seller through legal representation. All mentioned areas, measurements, and distances are approximate, and the information provided, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively. It should not be assumed that the property has all necessary planning, building regulations, or other consents. Services, equipment, and facilities have not been tested by Minors and Brady, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.

Agent Details

Minors & Brady, Dereham

01362 702993

Next Steps?

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