Around the station they can be, I would say most flats in that range would be a two bedroom, but one beds aren't that much cheaper.
Most of the housing here are houses, as opposed to flats because most of the colleges own the flats in town. There are a bunch of new build flats along the river, but they are pricey and not near the station. (Well, relatively).
Studios are about 700-800ish, maybe a little more or less if you are lucky. A room in a shared professional house, not student, between 450 (rarely and not near the station) and whatever.
It depends if this person wants to work in London and commute. If you are working in Cambridge and have no need to go to the station then you can live in a variety of places, but if you want to take the train being near the station is important.
Also, the flats aren't that great either. Students will take any old junked up place.