In this paper a method for high precision relative localization using a single camera is proposed. The method provides pose estimates comparable in resolution to wheel odometry, but being independent of the kinematics and based on an exteroceptive sensor, is resistant to wheel slippage. The concept is based on extracting the planar transformations between frames from a sequence of ground images, which correspond to the change in robot pose. Results on a plain colored carpeted surface provide the proof of concept of the method as an alternative to wheel odometry. The contributions in this paper include a method to estimate the planar transformations between images to a high degree of precision (e.g., 0.01 degrees), and a method to calibrate the system using a ID calibration object and known motions of the robot.