Colchester · EN8 8JL · 2-bed
Kelman Close, Waltham Cross
© OpenStreetMap · click to open in maps
Asking price
£260,000
Verdict
Overpriced by £18,386 vs 2-bed homes nearby
What you could do with it
Estimated gross yields from current rental comps. Numbers are pre-cost — service, voids, mortgage, management still come off these.
Standard BTL
Best fit£1,500/mo
6.9% gross yield
Open-market tenant on a 12-month AST.
LHA / Section 8
£1,396/mo
6.4% gross yield
Council-paid tenant. Stable rent, longer tenancies, slight discount to market.
Council lease
£1,187/mo
5.5% gross yield
3–5 yr guaranteed-rent lease to a housing association. Hands-off.
Who is this for?
Quick read across the buyer personas. ✅ = good fit · ⚠ = workable with caveats · ❌ = look elsewhere.
Family home
2-bed but EPC unknown — factor retrofit cost or budget for it.
Standard BTL
6.9% gross — clears typical 5%+ break-even threshold.
Buy + rent later
Rents would more than cover BTL mortgage costs if life changes.
The numbers
England (SDLT) · 75% LTV mortgage at 5.5% over 25 years (capital repayment).
Stamp duty
First-time buyer
£0
Home mover
£500
2nd home / BTL
£13,500
Mortgage @ 75% LTV
- Loan
- £195,000
- Deposit
- £65,000
- Per month
- £1,197
Cash you'd need to walk in (deposit + investor SDLT, before legal/survey): £78,500
Should you pay this?
Asking price is roughly £18,386 above what 2-bed homes typically go for here.
You're paying £260,000. Comparable 2-bed homes in this area suggest a market price of around £241,614.
Contains HM Land Registry data © Crown copyright and database right.
What it'd rent for
£1,500/month6.92% gross yield
Based on 582 live rentals in Colchester · 2-bed homes here average £1,196/mo.
Most landlords need 5%+ gross to break even after costs in this area, so this is a decent fallback if your plans shift.
Property features
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Loading nearby sold…
5-year price trend
Crime risk
Flood risk
Schools & Ofsted
Catchment area is the #1 driver of family-let demand and exit liquidity in the suburbs. Verify the local primary + secondary ratings before offering — an Outstanding catchment can add 5–10% to £/sqft; Inadequate is a permanent drag.
- All schools within 2 miles (DfE GIAS) — official register, last Ofsted, type
- Ofsted reports for EN8 8JL — full inspection reports + history
- Catchment visualiser (Locrating) — free-tier school-catchment map
Catchments aren't published nationally; many schools use distance-from-school as the deciding factor. The links above give you the official data; only the local authority can confirm a specific year's catchment boundary.
Area pulse
- 11,398 new listings here in the last month — good comparable supply.
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