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Parkinson Drive, Chelmsford

East of England

£185,000

Listed on 03/07/2026

Property details

Bedrooms
2
Type
Flat
Area
549 sqft

Description

Located in a sought-after area of Chelmsford, this two-bedroom first floor flat offers a solid opportunity for renovation enthusiasts or investors. With an extended lease and spanning approximately 540 square feet, this property was built in 2002 and presents a blank canvas for those looking to modernise and personalise their living space. The layout features well-sized bedrooms, making it suitable for various living arrangements, including small families or rental purposes. While the kitchen and bathroom are in need of updates to meet contemporary standards, the potential for enhancement is clear. The communal gardens and allocated parking add to the overall appeal, making this flat a worthwhile investment in a friendly neighbourhood with easy access to local amenities and transport links.

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Investment analysis

(CM1 area)

Below Market Value

This property is priced -18.2% below area average per sq ft

-18.2%
Potential saving
This Property
£337/sq ft
Area Average
£412/sq ft
Avg Rent (weekly)
£341
Avg Yield
4.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£12,000 - £22,000
Target Value
£248,807
10% above area average per sq ft
Potential ROI
+20.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
63
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (CM1)

Area prices are rising by +2.5% over the last 12 months
3 year growth: +3.3%
5 year growth: +5.3%
Investment Disclaimer: Analysis based on CM1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Parkinson Drive, Chelmsford
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Mortgage calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£699
Based on a loan of £138,750 over 30 years at 4.45% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Stamp duty calculator

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