2 Bed Flat, Single Let, Colchester, CO1 2LQ, £149,000

Carters Court, Magdalen Street, CO1 2LQ - 3 views - a month ago

Leasehold

BTL

ROI: 6%

~68 m²

+2 photos

ValuationUndervalued

Sold Prices	£90K - £268K
Sold Prices/m²	£1.5K/m² - £4K/m²

Square Metres	~68.11 m²
Price/m²	£2.2K/m²
Value Estimate	£186,250£186,250
BMV	25%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£37,250£37,250
Stamp Duty & Legal Fees	£9,130£9,130
Total Cash In	£46,380£46,380

Cash Out
Rent Range	£775 - £3,000£775 - £3,000
Rent Estimate	£913
Running Costs/mo	£668£668
Cashflow/mo	£245£245
Cashflow/yr	£2,937£2,937
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £90K to £268K, average is £162K. £1.5K/m² to £4K/m², average is £2.8K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£161K	08/21	0.03 mi	78, George Williams Way, Colchester, Essex CO1 2JZ	£3,438	47	2	Flat
£146.5K	01/21	0.03 mi	42, George Williams Way, Colchester, Essex CO1 2JZ	£2,513	58	2	Flat
£150K	06/21	0.03 mi	24, George Williams Way, Colchester, Essex CO1 2JZ	-	-	2	Flat
£150K	01/21	0.07 mi	141, George Williams Way, Colchester, Essex CO1 2JR	£3,000	50	2	Flat
£176K	07/23	0.07 mi	139, George Williams Way, Colchester, Essex CO1 2JR	-	-	2	Flat
£171K	12/22	0.07 mi	191, George Williams Way, Colchester, Essex CO1 2JR	£3,167	54	2	Flat
£160K	09/22	0.07 mi	45, George Williams Way, Colchester, Essex CO1 2JP	£3,902	41	2	Flat
£150K	11/20	0.08 mi	5, George Williams Way, Colchester, Essex CO1 2JP	£2,679	56	2	Flat
£159K	05/21	0.08 mi	81, George Williams Way, Colchester, Essex CO1 2JP	£2,789	57	2	Flat
£165K	06/21	0.15 mi	Flat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG	-	-	2	Flat
£162K	05/21	0.17 mi	12, Saw Mill Road, Colchester, Essex CO1 2ZQ	£3,057	53	2	Flat
£150K	03/21	0.17 mi	101, Nicholsons Grove, Colchester, Essex CO1 2XT	£2,877	52	2	Flat
£90K	05/21	0.2 mi	5, The Dell, Colchester, Essex CO1 2YH	£1,667	54	2	Flat
£145K	02/21	0.24 mi	15, St Augustine Mews, Colchester, Essex CO1 2PF	£3,295	44	2	Flat
£260K	11/22	0.35 mi	26, Captain Gardens, Colchester, Essex CO2 7FX	£4,000	65	2	Flat
£268K	10/21	0.37 mi	25, Hythe Hill, Colchester, Essex CO1 2NB	£2,913	92	2	Flat
£245K	05/21	0.39 mi	Flat 25, The Mill Apartments, East Street, Colchester, Essex CO1 2QT	-	-	2	Flat
£140K	03/21	0.4 mi	155, Hythe Hill, Colchester, Essex CO1 2NG	£2,373	59	2	Flat
£140K	03/21	0.4 mi	155, Hythe Hill, Colchester, Essex CO1 2NG	£2,373	59	2	Flat
£165K	05/21	0.4 mi	156, Hythe Hill, Colchester, Essex CO1 2NG	£1,755	94	2	Flat
£182K	07/23	0.42 mi	4, Tarrett Drive, Colchester, Essex CO1 2NJ	£3,049	60	2	Flat
£217.5K	04/21	0.43 mi	49, Grosvenor Place, Colchester, Essex CO1 2ZD	£2,685	81	2	Flat
£170K	03/21	0.43 mi	14, Grosvenor Place, Colchester, Essex CO1 2ZD	£3,036	56	2	Flat
£197.5K	03/23	0.43 mi	29, Grosvenor Place, Colchester, Essex CO1 2ZD	£3,140	63	2	Flat
£240K	10/22	0.44 mi	22, Grosvenor Place, Colchester, Essex CO1 2ZD	£3,380	71	2	Flat
£155K	02/21	0.46 mi	30, Steed Crescent, Colchester, Essex CO2 7SJ	£2,313	67	2	Flat
£160K	10/21	0.46 mi	54a, Barrington Road, Colchester, Essex CO2 7RW	£3,200	50	2	Flat
£190K	09/22	0.51 mi	4, York Place, Colchester, Essex CO1 2RF	£2,375	80	2	Flat
£197.5K	02/23	0.52 mi	32, Rouse Way, Colchester, Essex CO1 2TT	£2,612	76	2	Flat
£250K	07/23	0.52 mi	25, Rouse Way, Colchester, Essex CO1 2TT	£2,976	84	2	Flat
£175K	06/21	0.52 mi	24, Rouse Way, Colchester, Essex CO1 2TT	£1,902	92	2	Flat
£200K	03/21	0.52 mi	26, Rouse Way, Colchester, Essex CO1 2TT	£2,222	90	2	Flat
£185K	02/23	0.52 mi	17, Rouse Way, Colchester, Essex CO1 2TT	£2,534	73	2	Flat
£165K	06/23	0.58 mi	18, Haddon Park, Colchester, Essex CO1 2GX	£3,056	54	2	Flat
£120K	01/21	0.59 mi	18, Haddon Park, Colchester, Essex CO1 2GX	£2,222	54	2	Flat
£194K	10/20	0.6 mi	7, Sadler Close, Colchester, Essex CO2 7LU	£3,464	56	2	Flat
£175K	06/21	0.6 mi	13, Sadler Close, Colchester, Essex CO2 7LU	£3,125	56	2	Flat
£170K	07/21	0.6 mi	2, Sadler Close, Colchester, Essex CO2 7LU	£3,036	56	2	Flat
£162K	06/23	0.61 mi	Flat 9, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB	£2,571	63	2	Flat
£145K	01/21	0.61 mi	Flat 15, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB	-	-	2	Flat
£145K	03/21	0.61 mi	Flat 8, Parkland Court, Recreation Road, Colchester, Essex CO1 2LB	-	-	2	Flat
£143K	12/20	0.64 mi	106, St Andrews Gardens, Colchester, Essex CO4 3EH	£2,497	57	2	Flat
£173K	12/20	0.68 mi	9, Meachen Road, Colchester, Essex CO2 8JD	£2,307	75	2	Flat
£157.5K	11/20	0.69 mi	3, Meachen Road, Colchester, Essex CO2 8JD	£2,316	68	2	Flat
£130K	04/23	0.69 mi	45, Meachen Road, Colchester, Essex CO2 8JD	£2,281	57	2	Flat
£146K	01/21	0.71 mi	Flat 11, Dedham Court, Stalin Road, Colchester, Essex CO2 8SN	-	-	2	Flat
£150K	11/22	0.71 mi	30, Nunns Road, Colchester, Essex CO1 1EJ	£1,471	102	2	Flat
£167K	11/22	0.73 mi	30, Ratcliffe Court, Colchester, Essex CO4 0AZ	£3,093	54	2	Flat
£150K	03/21	0.74 mi	Flat 25, Stuart House, St Peters Street, Colchester, Essex CO1 1BQ	-	-	2	Flat
£156.5K	06/23	0.74 mi	Flat 30, Stuart House, St Peters Street, Colchester, Essex CO1 1BQ	-	-	2	Flat

Local Rents

50 rents from £775/mo to £3K/mo, average is £1.1K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,000	03/24	0.03 mi	George Williams Way, Colchester	2	Flat
£1,000	04/24	0.03 mi	George Williams Way, Colchester	2	Flat
£1,200	04/24	0.03 mi	Central Colchester	2	Flat
£1,050	04/24	0.05 mi	Kendall Road, Colchester, Essex, CO1	2	Terraced House
£995	01/25	0.05 mi	-	2	Terraced House
£1,100	03/24	0.05 mi	George Williams Way, Colchester, Essex, CO1	2	Flat
£1,050	01/25	0.07 mi	-	2	Flat
£1,000	03/25	0.07 mi	-	2	Flat
£1,050	03/24	0.07 mi	George Williams Way,Colchester,CO1	2	Flat
£1,900	04/25	0.07 mi	-	2	Flat
£1,150	04/25	0.07 mi	-	2	Semi-Detached House
£1,100	03/24	0.08 mi	George Williams Way, Town Centre	2	Flat
£950	04/24	0.08 mi	Magdalen Street, Colchester, Essex	2	House
£1,125	12/24	0.09 mi	-	2	Semi-Detached House
£1,250	05/24	0.09 mi	-	2	Terraced House
£1,200	03/24	0.09 mi	James Street, Colchester, Essex, CO1	2	Terraced House
£1,150	01/25	0.09 mi	-	2	Terraced House
£1,100	03/24	0.1 mi	New Town Road, New Town, Colchester, CO1	2	Flat
£1,045	03/24	0.1 mi	Simons Lane, Colchester	2	House
£1,200	03/25	0.1 mi	-	2	Terraced House
£1,100	04/25	0.1 mi	-	2	Terraced House
£1,175	01/25	0.12 mi	-	2	Terraced House
£1,400	03/25	0.12 mi	-	2	Terraced House
£900	03/24	0.12 mi	Winnock Road, Colchester	2	Flat
£975	04/24	0.12 mi	Winnock Road, Colchester	2	Terraced House
£895	05/24	0.12 mi	Kendall Road, Colchester	2	Flat
£1,200	03/24	0.13 mi	Wilson Mews, Barrack Street, CO1	2	Terraced House
£1,150	04/24	0.15 mi	Old Rectory Drive, Brook Street, Colchester, CO1	2	Flat
£1,300	04/25	0.16 mi	-	2	Flat
£1,100	03/24	0.17 mi	Saw Mill Road, Colchester, Essex, CO1	2	Flat
£1,200	01/24	0.18 mi	-	2	Terraced House
£3,000	04/24	0.18 mi	-	2	Terraced House
£3,000	05/24	0.18 mi	-	2	Terraced House
£2,800	03/25	0.18 mi	-	2	Terraced House
£1,200	05/24	0.18 mi	Military Road, COLCHESTER	2	House
£1,100	03/24	0.18 mi	Victoria Place, Colchester,CO1 2DZ	2	Flat
£1,100	04/24	0.19 mi	Victoria Place, Colchester, Essex, CO1	2	Terraced House
£1,100	04/24	0.19 mi	St. Leonards Road, Colchester, Essex, CO1	2	Terraced House
£775	01/24	0.2 mi	-	2	Terraced House
£1,100	03/24	0.21 mi	Cannon Street, Colchester	2	Terraced House
£1,150	04/24	0.21 mi	New Town	2	Terraced House
£1,250	01/25	0.21 mi	-	2	Terraced House
£1,100	03/24	0.22 mi	King Stephen Road, Colchester, Essex, CO1	2	Terraced House
£1,000	05/24	0.22 mi	Barrack Street, Colchester	2	Terraced House
£1,100	03/24	0.23 mi	Rebow Street, Colchester, Essex, CO1	2	Terraced House
£900	03/24	0.23 mi	Brook Street,Colchester	2	Flat
£1,100	12/24	0.23 mi	Parade Square, Colchester, CO2	2	Flat
£1,250	05/24	0.23 mi	Smythies Avenue, Colchester, CO1	2	Semi-Detached House
£1,200	12/24	0.24 mi	Parade Square, Colchester, Essex, CO2	2	Terraced House
£1,000	04/25	0.24 mi	-	2	Terraced House

Local Area Statistics

Population in CO1	15,33315,333
Population in Colchester	214,734214,734
Town centre distance	1.02 miles away1.02 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.27 miles away0.27 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+32%+32%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+14%+14%

Property History

Listed for £149,000

March 27, 2025

Floor Plans

Description

Top Floor Apartment +
Two Double Bedrooms +
Gas Central Heating +
Off Road Parking Space +
Close To Town Train Station +
Separate Kitchen +
Open Plan Living Area +
Close To Local Supermarket +
Property Currently Tenanted +
Viewings By Appointment Only +

ENTRANCE HALL 19' 9" x 3' 5" (6.03m x 1.06m) A wide entrance hallway with fitted carpets, a gas fired radiator and built in airing cupboard.

LOUNGE/DINER 21' 2" x 11' 6" (6.46m x 3.51m) A spacious open plan lounge/diner with fitted carpets, dual aspect double glazed windows and two gas fired radiators.

KITCHEN 12' 8" x 7' 6" (3.88m x 2.29m) A large separate kitchen with laminate flooring, a double glazed window and fitted spotlights.

The kitchen comes with an electric oven, gas hob, extractor, washing machine, built in 50/50 fridge freezer, sink/drainer unit and plenty of cupboard/surface space.

PRIMARY BEDROOM 10' 11" x 9' 8" (3.35m x 2.96m) A large master double bedroom with fitted carpets, double glazed window, a built in double wardrobe and a gas fired radiator.

BEDROOM TWO 9' 6" x 7' 9" (2.90m x 2.38m) A second bedroom with fitted carpets, a double glazed window, a built in wardrobe and a gas fired radiator.

BATHROOM 9' 4" x 7' 6" (2.86m x 2.29m) A neutral theme bathroom with vinyl flooring, a double glazed smoked glass window and fitted spotlights.

The white bathroom suite comes with a wash basin, toilet and a bath with an over the bath shower/screen.

Agent Details

Martin & Co, Colchester

01206 586115

Next Steps?

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

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ValuationUndervalued

CashflowsOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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