9 Bed HMO, Norwich, NR7 0TH £500,000

39 Thorpe Hall Close, Norwich, Norfolk, NR7 0TH - 7 views - 2 years ago
Sold STC
HMO
ROI: 5%
192 m²
Property image

ValuationUndervalued

Sold Prices£325K - £750K
Sold Prices/m²£2K/m² - £8.9K/m²

 

 

Square Metres

192 m²
Price/m²£2.6K/m²

Value Estimate

£600,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£125,000

Stamp Duty & Legal Fees

£28,700

Total Cash In

£153,700

 

 

Cash Out

 

Room Rate

£444

Gross Rent

£3,996

Running Costs/mo

£3,383

Cashflow/mo

£613

Cashflow/yr

£7,358

ROI

5%

Gross Yield

10%

Local Sold Prices

50 sold prices from £325K to £750K, average is £500K. £2K/m² to £8.9K/m², average is £4.1K/m².

Price
Date
Distance
Address
Beds
 
£590K11/240 mi21, Thorpe Hall Close, Norwich, Norfolk NR7 0TH4
£460K05/210.26 mi5c, Stanley Avenue, Norwich, Norfolk NR7 0BE4
£355K01/250.3 mi10, The Sidings, Norwich NR1 1GA4
£680K10/240.3 mi177, Wellesley Avenue South, Norwich NR1 4AD4
£355K01/250.32 mi10, The Sidings, Norwich, Norfolk NR1 1GA4
£325K05/210.32 mi42, The Sidings, Norwich, Norfolk NR1 1GA4
£675K10/240.34 mi170, Wellesley Avenue South, Norwich NR1 4AD4
£435K04/250.37 mi46, Bishops Close, Thorpe St Andrew NR7 0DY4
£435K04/250.37 mi46, Bishops Close, Thorpe St Andrew NR7 0DY4
£515K09/210.37 mi28, Telegraph Lane East, Norwich, Norfolk NR1 4AL4
£543K08/240.37 mi1e, Telegraph Lane East, Norwich NR1 4AL4
£543K08/240.37 mi1e, Telegraph Lane East, Norwich NR1 4AL4
£455K01/230.4 mi63a, Yarmouth Road, Norwich, Norfolk NR7 0EW4
£401K12/220.48 mi37, Henby Way, Thorpe St Andrew, Norwich, Norfolk NR7 0LD4
£570K12/240.48 mi44, Cotman Road, Norwich NR1 4AH4
£500K07/240.5 mi7, Heathside Road, Norwich NR1 1TH4
£550K11/210.51 mi9, Heathside Road, Norwich, Norfolk NR1 1TH4
£520K08/220.51 mi11, Heathside Road, Norwich, Norfolk NR1 1TH4
£500K07/240.51 mi7, Heathside Road, Norwich, Norfolk NR1 1TH4
£545K03/250.51 mi27, Cintra Road, Norwich NR1 4AE4
£545K03/250.51 mi27, Cintra Road, Norwich NR1 4AE4
£450K03/250.51 mi18, Henby Way, Norwich NR7 0LD4
£450K03/250.51 mi18, Henby Way, Norwich NR7 0LD4
£380K01/240.52 mi8, Blakestone Drive, Norwich, Norfolk NR7 0LF4
£358K08/220.53 mi3, Cotman Road, Norwich, Norfolk NR1 4AF4
£735K12/220.53 mi5, Weston Wood Close, Norwich, Norfolk NR7 0JX4
£460K08/240.54 mi66, Howard Close, Norwich NR7 0LE4
£485K03/230.55 mi140, Thorpe Road, Norwich, Norfolk NR1 1RH4
£525K05/250.55 mi68, Howard Close, Thorpe St Andrew NR7 0LE4
£525K05/250.55 mi68, Howard Close, Thorpe St Andrew NR7 0LE4
£525K06/210.55 mi7, Gordon Avenue, Norwich, Norfolk NR7 0DW4
£567.5K07/220.56 mi5, High Green, Norwich, Norfolk NR1 4AP4
£625.2K12/210.56 mi5, Stanmore Road, Norwich, Norfolk NR7 0HB4
£695K01/230.58 mi20, Stanmore Road, Norwich, Norfolk NR7 0HB4
£550K05/230.58 mi72, Hillcrest Road, Norwich, Norfolk NR7 0JU4
£475K01/240.6 mi50, Gordon Avenue, Norwich, Norfolk NR7 0DP4
£490K06/240.62 mi21, Stan Petersen Close, Norwich NR1 4QJ4
£600K08/240.63 mi20, Stan Petersen Close, Norwich NR1 4QJ4
£600K08/240.63 mi20, Stan Petersen Close, Norwich NR1 4QJ4
£465K07/230.65 mi11, Margetson Avenue, Norwich, Norfolk NR7 0DG4
£450K12/230.65 mi1, Harvey Close, Norwich, Norfolk NR7 0DQ4
£512.5K05/250.66 mi41 Haselmere, Thunder Lane, Norwich NR7 0PX4
£435K11/220.68 mi16, Cedar Road, Norwich, Norfolk NR1 1HL4
£665K07/240.69 mi52a, Thunder Lane, Norwich NR7 0PZ4
£420K02/230.69 mi3, Cedar Road, Norwich, Norfolk NR1 1HL4
£365K02/230.74 mi74, Plumstead Road, Norwich, Norfolk NR1 4JU4
£390K01/240.78 mi11a, Aerodrome Road, Norwich, Norfolk NR7 0BD4
£750K06/230.81 mi10, Hilly Plantation, Norwich, Norfolk NR7 0JL4
£375K10/230.83 mi30, Aldryche Road, Norwich, Norfolk NR1 4LE4
£415K07/230.83 mi32, Plumstead Road East, Norwich, Norfolk NR7 9NE4

Local Area Statistics

Population in NR7

32,046

Population in Norwich

366,887

Town centre distance

1.87 miles away

Nearest school

0.60 miles away

Nearest train station

0.98 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+17%

Sales demand

Seller's market

Capital growth (5yrs)

+23%

Property History

Listed for £500,000

March 11, 2024

Sold for £126,884

2010

Sold for £245,000

2002

Sold for £113,238

2001

Floor Plans

Property image

Description

  • A Fantastic Opportunity +
  • Large HMO Property +
  • Nine Bedrooms +
  • Six Bathrooms (Some En-Suite) +
  • Located In The Heart Of Thorpe St Andrew +
  • Gas Central Heating +
  • Double Glazing +
  • Brickweave Driveway +
  • Garden With A Large Terrace +

Guide Price £500,00 - £550,000 A fantastic opportunity to acquire a large HMO property with nine bedrooms (some with en-suites) and six bathrooms, located in the heart of Thorpe St Andrew East of Norwich City centre. The property benefits from having gas central heating and double glazing, driveway, garden plus a large terrace.
When fully let the estimated income is between £4000 and £4500 per calendar month. However under new ownership, there would be an opportunity to upgrade the building and increase the monthly yield, subject to planning.

Located in the sought after residential area of Thorpe St Andrew, a vibrant and thriving community 2 miles to the East of Norwich. The property occupies a fantastic location just off Yarmouth Road. The area has a good range of amenities including two supermarkets and post office, public houses and restaurants (some riverside), a number of nurseries and schools, a health club and two nearby recreation parks. With easy access out onto the A47 Southern Bypass and the Northern Distributor Road with excellent access to the coast, Norfolk Broads National Park and Broadland Business Park. The historic Cathedral City of Norwich is just 2 miles to the West and offers a wonderful range of shops, a comprehensive range of commercial entertainment, cultural amenities and excellent schooling. Norwich Railway Station is also a short distance providing regular services to London and Cambridge. On the North side of the City is Norwich International Airport which caters for both domestic and international flight destinations.

Ground Floor Accommodation

Entrance Hall

Five Bedrooms
One with a separate kitchen and the rest with kitchenettes,

Two Bathrooms
Off the hallway serving the bedrooms on this floor.

First Floor Accommodation

Hallway

Kitchen

Two Double Bedrooms
Both with En-Suite facilities.

Communal Terrace

Second Floor Accommodation

Hallway

Kitchen

Bathroom

Two Double Bedrooms
One with an En-Suite.

Outside
Brickweave driveway providing off road parking.

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Notice
Please note that we have not tested any apparatus, equipment, fixtures, fittings or services and as so cannot verify that they are in working order or fit for their purpose. Pymm & Co cannot guarantee the accuracy of the information provided. This is provided as a guide to the property and an inspection of the property is recommended.

Agent Details

Pymm & Co, Norwich

01603 361642

Next Steps?

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