7 Bed Semi-Detached House, Refurb/BRRR, Wisbech, PE13 2EF, £400,000

Clarkson Avenue, Wisbech, PE13 2EF - 4 views - a year ago

Refurb/BRRR
Planning
~217 m²
+14 photos

ValuationUndervalued

Sold Prices£129K - £540K
Sold Prices/m²£1.2K/m² - £3.1K/m²

 

 

Square Metres

~217 m²
Price/m²£1.8K/m²

Value Estimate

£412,000
BMV3%

 

 

End Value (After Refurb)

£395,381

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£100,000

Stamp Duty & Legal Fees

£20,700

Refurb Costs

£96,029

Bridging Loan Interest

£10,500

Total Cash In

£228,979

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£395,381

Mortgage (After Refinance)

£296,536

Mortgage LTV

75%

Cash Left In

£228,979

Equity

£98,845

Rent Range

£800 - £1,300

Rent Estimate

£1,021

Running Costs/mo

£1,460

Cashflow/mo

£-439

Cashflow/yr

£-5,265

Gross Yield

3%

Local Sold Prices

34 sold prices from £129K to £540K, average is £295K. £1.2K/m² to £3.1K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£520K06/230.11 mi7a, Townshend Road, Wisbech, Cambridgeshire PE13 3DN4
£232K10/210.11 mi106, Lynn Road, Wisbech, Cambridgeshire PE13 3DP4
£540K01/230.18 mi6, Bowthorpe Hall Gardens, Wisbech, Cambridgeshire PE13 2HF4
£325K01/230.2 mi52, Clarkson Avenue, Wisbech, Cambridgeshire PE13 2EH4
£472.5K08/230.22 mi174, Lynn Road, Wisbech, Cambridgeshire PE13 3EB4
£217.5K03/230.23 mi34, Colvile Road, Wisbech, Cambridgeshire PE13 2ET4
£347K06/210.23 mi63, Colvile Road, Wisbech, Cambridgeshire PE13 2ET4
£250K12/200.26 mi11, St Augustines Road, Wisbech, Cambridgeshire PE13 3AH4
£240K08/230.27 mi24, Kooreman Avenue, Wisbech, Cambridgeshire PE13 3HY4
£250K03/210.33 mi114, Norwich Road, Wisbech, Cambridgeshire PE13 2BA4
£210K11/220.35 mi5, Boyces Road, Wisbech, Cambridgeshire PE13 2JT4
£240K04/230.38 mi11, William Road, Wisbech, Cambridgeshire PE13 2AA4
£325K07/230.39 mi2a, Third Avenue, Wisbech, Cambridgeshire PE13 2BJ4
£335K04/210.43 mi17, Ramnoth Road, Wisbech, Cambridgeshire PE13 2JA4
£129K02/210.46 mi14, Jeffery Avenue, Wisbech, Cambridgeshire PE13 3QY4
£315K08/230.47 mi5, Rochford Walk, Wisbech, Cambridgeshire PE13 3SU4
£245K10/210.52 mi22, Bush Lane, Wisbech, Cambridgeshire PE13 2JW4
£307.5K02/210.56 mi145, Stow Road, Wisbech, Cambridgeshire PE13 3TQ4
£300K09/210.57 mi24, Eighth Avenue, Wisbech, Cambridgeshire PE13 2BW4
£265K05/230.62 mi1, Kings Road, Wisbech, Cambridgeshire PE13 2PF4
£170K07/230.64 mi6, Acacia Avenue, Wisbech, Cambridgeshire PE13 3LW4
£281K11/200.64 mi29, Old Lynn Road, Wisbech, Cambridgeshire PE14 7AJ4
£431K12/220.64 mi21, Peckover Drive, Wisbech, Cambridgeshire PE13 2HZ4
£210K08/210.67 mi28, Victoria Road, Wisbech, Cambridgeshire PE13 2QL4
£347.5K11/210.67 mi6, Stow Gardens, Wisbech, Cambridgeshire PE13 2HS4
£240K12/230.68 mi16, Queens Road, Wisbech, Cambridgeshire PE13 2PB4
£366K05/230.68 mi29, Quaker Lane, Wisbech, Cambridgeshire PE13 2JQ4
£270K09/210.7 mi30, Penrose Gardens, Wisbech, Cambridgeshire PE13 2HP4
£230K05/210.78 mi14, Kingsway, Wisbech, Norfolk PE13 3DU4
£300K09/210.8 mi70, Blackbear Lane, Wisbech, Norfolk PE13 3RU4
£400K10/230.88 mi9, Harolds Close, Wisbech, Norfolk PE14 7BS4
£337.5K02/240.88 miMalvern House, Horse Shoe Corner, Wisbech, Cambridgeshire PE13 1PT4
£290K05/230.93 mi1a, Barton Road, Wisbech, Cambridgeshire PE13 1LB4
£325K01/230.94 mi66, Burrett Road, Wisbech, Norfolk PE14 7AU4

Local Rents

37 rents from £800/mo to £1.3K/mo, average is £925/mo.

RentDateDistanceAddressBeds 
£1,30006/240.1 miTownshend Road, WISBECH3
£1,30006/240.1 miTownshend Road, PE133
£95001/250.19 mi-3
£87502/250.21 mi-3
£87506/240.22 mi-3
£89503/240.22 miMount Pleasant Road, Wisbech, Cambridgeshire, PE133
£85012/240.24 mi-3
£85012/240.24 mi-3
£92512/240.26 mi-3
£1,15006/240.26 miHereward Road, Wisbech3
£1,05001/250.27 mi-3
£89506/240.28 miKOOREMAN AVENUE, Wisbech, PE133
£1,20006/240.28 miNorwich Road, Wisbech3
£1,00006/240.29 miOakroyd Crescent, Wisbech3
£92506/240.29 miOakroyd Crescent, Wisbech3
£1,00006/240.3 miSt Augustines Road, WISBECH3
£1,07509/240.33 mi-3
£1,30006/240.34 miNorwich Road, Wisbech3
£90012/240.34 mi-3
£96006/240.36 mi-4
£1,10006/240.38 miMarsh Walk, WISBECH3
£1,20006/240.39 miLittle Church Street, Wisbech4
£1,20006/240.39 miLittle Church Street, Wisbech4
£90012/240.41 mi-3
£87506/240.41 miPrince Street, Wisbech3
£85006/240.42 mi-3
£80006/240.42 miChurch Terrace, Wisbech3
£95006/240.42 miGoddard Crescent, WISBECH3
£82509/240.44 mi-3
£1,00002/250.47 mi-3
£1,15006/240.5 miBramley Road, Wisbech3
£87501/250.52 mi-3
£1,15006/240.55 mi8 Kings Walk, Wisbech4
£85012/240.56 mi-3
£90003/250.56 mi-3
£90003/250.56 mi-3
£90006/240.57 miSt Peters Road, Wisbech, PE133

Local Area Statistics

Population in PE13

35,179

Population in Wisbech

56,030

Town centre distance

0.41 miles away

Nearest school

0.20 miles away

Nearest train station

8.20 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+22%

Sales demand

Buyer's market

Capital growth (5yrs)

+19%

Property History

Listed for £400,000

May 22, 2024

Floor Plans

Description

A substantial 3 storey semi-detached Victorian residence, with many period features comprising 3 flats (with expired approval for change of use to 1 dwelling) being situated in large gardens with garage. The property is built of solid brick walls under a slate roof and requires modernisation.  The property retains many original features including: high ceilings, ceiling cornices, window panelling, built-in cupboards, staircases and deep skirting boards. Previously, the property was a seven bedroom house and was converted to 3 flats.  The property has an expired planning permission to convert back to a family dwelling, reference - F/YR21/0216/F was granted on 22nd April 2021 and expired on 22nd April 2024.  Building control approval 2021/005592/FEN was obtained in 2021. Outside, the property has a large plot with parking and a garage.

Wisbech is an historical market town and inland port in the Fens of Cambridgeshire being situated approximately 21 miles east of Peterborough which offers a direct express rail service into London’s King’s Cross. Wisbech is well known for the architecture of its Georgian North Brink and, in particular, Peckover House. The town itself is conveniently placed for King's Lynn, Ely and the South Lincolnshire towns of Holbeach and Spalding. It has a has a good range of shops, recreation amenities, marina, range of primary schools and two secondary schools, the state-funded Thomas Clarkson Academy and the sought after Wisbech Grammar School, one of the oldest schools in the United Kingdom, as well as the College of West Anglia.

Fenland District Council, Fenland Hall, County Road, March, Cambs, PE15 8NQ. Council Tax - Band A for Ground floor flat, first floor flat and second floor flat. EPC - F.

Agent Details

Belton Duffey, Kings Lynn

01553 603677

Next Steps?

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