4 Bed HMO, Norwich, NR5 8LQ, £325,000

Pitchford Road, Norwich, NR5 8LQ - a year ago

HMO
ROI: 2%
~129 m²
+6 photos

ValuationUndervalued

Sold Prices£150K - £672K
Sold Prices/m²£1.8K/m² - £5.9K/m²

 

 

Square Metres

~129.26 m²
Price/m²£2.5K/m²

Value Estimate

£372,857
BMV15%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£21,200

Total Cash In

£102,450

 

 

Cash Out

 

Room Rate

£516

Gross Rent

£2,064

Running Costs/mo

£1,931

Cashflow/mo

£133

Cashflow/yr

£1,593

ROI

2%

Gross Yield

8%

Local Sold Prices

50 sold prices from £150K to £672K, average is £287.5K. £1.8K/m² to £5.9K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£258K11/200.07 mi6, Buttermere Road, Norwich, Norfolk NR5 8LP4
£150K02/240.22 mi33, Scarnell Road, Norwich, Norfolk NR5 8HT4
£391.5K06/230.3 mi16, Earlham Green Lane, Norwich, Norfolk NR5 8HA4
£220K11/200.36 mi151, Motum Road, Norwich, Norfolk NR5 8EG4
£350K07/230.37 mi561, Earlham Road, Norwich, Norfolk NR4 7TF4
£268K05/240.42 mi1, Clarkson Road, Norwich, Norfolk NR5 8EF4
£225K11/220.43 mi44, St Mildreds Road, Norwich, Norfolk NR5 8RS4
£230K05/210.43 mi45, Clarkson Road, Norwich, Norfolk NR5 8EE4
£220K01/240.47 mi33, Irstead Road, Norwich, Norfolk NR5 8AR4
£206K10/200.5 mi4, Filby Close, Norwich, Norfolk NR5 8DS4
£222.5K12/200.51 mi103, St Mildreds Road, Norwich, Norfolk NR5 8RZ4
£512K10/210.52 mi24, Primula Drive, Norwich, Norfolk NR4 7LZ4
£300K10/230.54 mi612, Dereham Road, Norwich, Norfolk NR5 8TE4
£272.5K04/210.62 mi2a, Old Watton Road, Colney, Norwich, Norfolk NR4 7TN4
£600K12/220.63 mi496, Earlham Road, Norwich, Norfolk NR4 7HP4
£290K03/230.65 mi63, Hellesdon Road, Norwich, Norfolk NR6 5EE4
£458K04/230.66 mi21b, Hellesdon Road, Norwich, Norfolk NR6 5EB4
£315K07/230.68 mi61, Holworthy Road, Norwich, Norfolk NR5 9DG4
£260K04/230.7 mi9, Ivory Road, Norwich, Norfolk NR4 7DT4
£290K08/240.7 mi156, Bluebell Road, Norwich, Norfolk NR4 7LN4
£250K08/230.71 mi8, Humbleyard, Norwich, Norfolk NR5 9BA4
£412.5K11/220.73 mi465, Earlham Road, Norwich, Norfolk NR4 7HL4
£375K11/230.75 mi2, The Hedgerows, Norwich, Norfolk NR5 9BP4
£300K03/230.76 mi209, The Avenues, Norwich, Norfolk NR4 7DN4
£273K03/230.76 mi63, Northfields, Norwich, Norfolk NR4 7ES4
£417.5K05/210.76 mi461, Earlham Road, Norwich, Norfolk NR4 7HL4
£485K07/230.76 mi447, Earlham Road, Norwich, Norfolk NR4 7HL4
£300K09/220.78 mi36, Henderson Road, Norwich, Norfolk NR4 7JW4
£252K03/210.78 mi120, The Avenues, Norwich, Norfolk NR4 7DP4
£330K06/210.78 mi364, Dereham Road, Norwich, Norfolk NR5 8QE4
£370K11/230.79 mi36a, Dereham Road, New Costessey, Norwich, Norfolk NR5 0SY4
£277.5K06/240.81 mi16, Ruskin Road, Norwich, Norfolk NR4 7DZ4
£240K02/210.84 mi10, Farrow Road, Norwich, Norfolk NR5 8AH4
£150K12/230.85 mi59, Winchcomb Road, Norwich, Norfolk NR2 3UE4
£195K03/210.86 mi25, Lound Road, Norwich, Norfolk NR4 7JQ4
£389K03/240.89 mi23, Sunny Grove, Norwich, Norfolk NR5 0EJ4
£430K05/230.89 mi30, Sunny Grove, Norwich, Norfolk NR5 0EJ4
£230K10/230.92 mi49, Oval Road, Norwich, Norfolk NR5 0DG4
£300K05/210.92 mi11, Swallow Tail Close, Norwich, Norfolk NR5 9HX4
£285K10/230.93 mi10, Harbord Road, Norwich, Norfolk NR4 7HJ4
£250K06/210.96 mi102, North Park Avenue, Norwich, Norfolk NR4 7EG4
£390K11/210.96 mi15, The Willows, Norwich, Norfolk NR2 4GW4
£215K11/200.97 mi36, Crown Road, New Costessey, Norwich, Norfolk NR5 0ES4
£240K01/210.97 mi59, Crown Road, New Costessey, Norwich, Norfolk NR5 0ES4
£525K10/210.97 mi256, Earlham Road, Norwich, Norfolk NR2 3RH4
£423K03/210.97 mi262, Earlham Road, Norwich, Norfolk NR2 3RH4
£672K09/230.97 mi246, Earlham Road, Norwich, Norfolk NR2 3RH4
£208K05/210.98 mi29, Braithwait Close, Norwich, Norfolk NR5 9EJ4
£220K06/230.98 mi28, Braithwait Close, Norwich, Norfolk NR5 9EJ4
£358K08/231 mi65, Oval Road, Norwich, Norfolk NR5 0DQ4

Local Area Statistics

Population in NR5

28,823

Population in Norwich

366,887

Town centre distance

2.25 miles away

Nearest school

0.20 miles away

Nearest train station

2.84 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+21%

Property History

Price changed to £325,000

January 31, 2025

Listed for £350,000

April 2, 2024

Floor Plans

Description

Welcome to this exceptional investment opportunity! Nestled in a prime location South West of the City centre, this purposefully designed 4-bedroom semi-detached house offers lucrative potential as a multi-let property. Upon entry, you are greeted by an inviting entrance hall leading to a spacious and modern kitchen/breakfast room for cosy mornings. The ground floor hosts one generously sized bedroom, while the first floor boasts three additional bedrooms, ensuring ample space. Convenience is key with a separate cloakroom and well-appointed shower room, enjoy the comforts of gas central heating and double glazing throughout the property. Outside the front and rear gardens provide tranquil retreats, alongside a large driveway offering abundant off-road parking and garden sheds for added convenience. Do not miss out on this exceptional investment opportunity! Contact us today to arrange a viewing and secure your stake in this thriving property market.

Strategically positioned, you will find yourself in proximity to major institutions including the University of East Anglia, and the Norfolk and Norwich University Hospital. Excellent public transport links facilitate easy access to the City centre, while the nearby A47 ensures seamless travel to surrounding areas, you are also within easy access to a good selection of local amenities including shops, supermarkets, pubs and restaurants.

UPVC double glazed front door to:-

Entrance Hall
Staircase to the first floor with understairs storage cupboard, doors to the ground floor bedroom and kitchen breakfast room.

Bedroom 1 - 12'10" (3.91m) x 11'5" (3.48m)
Double glazed window to the front.

Kitchen/Breakfast Room - 23'10" (7.26m) x 10'10" (3.3m)
Double glazed window to the rear, double glazed French doors to the rear garden, separate double glazed door to the rear garden, fitted with a range of base and wall units, work surfaces, breakfast bar, one and a half bowl stainless steel sink and drainer with mixer taps over tiled splashbacks, integrated fridge/freezer, space for a washing machine, space for a dishwasher, inset four ring electric hob with extractor hood over, electric oven and grill,

First Floor Landing
Double glazed window to the side, doors to all rooms.

Bedroom 2 - 12'10" (3.91m) x 10'0" (3.05m) Plus Recess
Double glazed window to the front, built-in wardrobe.

Bedroom 3 - 13'0" (3.96m) x 9'0" (2.74m)
Double glazed window to the rear, built-in wardrobes.

Bedroom 4 - 10'3" (3.12m) x 7'4" (2.24m)
Double glazed window to the rear.

Cloakroom
Double glazed window to the front, low level WC, wash basin, half tiled walls, extractor fan, chrome heated towel radiator.

Shower Room
Double glazed window to the rear, shower cubicle, low level WC, wash basin set into vanity unit, half tiled walls, extractor fan, chrome heated towel radiator.

Outside
To the front there is a shingled garden, gate and pathway to the front door, driveway providing ample off road parking all enclosed by timber fencing. To the rear there is a patio area and lawn, storage/garden sheds, enclosed by timber panel fencing.

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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?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪