5 Bed HMO, Norwich, NR2 4GZ £290,000

Old Laundry Court, Norwich, NR2 4GZ - 14 views - a year ago
Sold STC
HMO
Outside Article 4
ROI: 9%
~178 m²
Property image
Property image

ValuationUndervalued

Sold Prices£307K - £2.0M
Sold Prices/m²£1.5K/m² - £6.2K/m²

 

 

Square Metres

~178.28 m²
Price/m²£1.6K/m²

Value Estimate

£350,900
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£72,500

Stamp Duty & Legal Fees

£20,200

Total Cash In

£92,700

 

 

Cash Out

 

Room Rate

£540

Gross Rent

£2,700

Running Costs/mo

£2,036

Cashflow/mo

£664

Cashflow/yr

£7,970

ROI

9%

Gross Yield

11%

Local Sold Prices

50 sold prices from £307K to £2.0M, average is £580.3K. £1.5K/m² to £6.2K/m², average is £3.4K/m².

Price
Date
Distance
Address
Beds
 
£345K05/250.03 mi318, Heigham Street, Norwich NR2 4LS5
£345K05/250.03 mi318, Heigham Street, Norwich NR2 4LS5
£595K11/230.8 mi138, Earlham Road, Norwich, Norfolk NR2 3HF5
£675K06/210.81 mi161, Earlham Road, Norwich, Norfolk NR2 3RG5
£1.2M12/220.82 mi18, Mill Hill Road, Norwich, Norfolk NR2 3DP5
£550K11/210.82 mi8, Mill Hill Road, Norwich, Norfolk NR2 3DP5
£315K01/240.86 mi1, Catton Grove Road, Norwich, Norfolk NR3 3NJ5
£707.5K06/210.91 mi2, Clarendon Road, Norwich, Norfolk NR2 2PW5
£430K07/210.92 mi20, Catton Grove Road, Norwich, Norfolk NR3 3NH5
£700K07/220.92 mi170, College Road, Norwich, Norfolk NR2 3JA5
£683K03/240.96 mi70, Mill Hill Road, Norwich NR2 3DS5
£820K08/230.97 mi40, Grosvenor Road, Norwich, Norfolk NR2 2PZ5
£427K05/230.99 mi11, Doris Road, Norwich, Norfolk NR2 3EJ5
£605K03/251.03 mi102, Avenue Road, Norwich NR2 3HP5
£605K03/251.03 mi102, Avenue Road, Norwich NR2 3HP5
£565K08/221.04 mi54, Constitution Hill, Norwich, Norfolk NR3 4BT5
£307K03/251.05 mi11, Overbury Road, Norwich NR6 5LB5
£390K09/231.05 mi24, Whitehall Road, Norwich, Norfolk NR2 3EW5
£430K03/241.08 mi450, Earlham Road, Norwich, Norfolk NR4 7HL5
£467K12/231.08 mi452, Earlham Road, Norwich, Norfolk NR4 7HL5
£658K06/211.1 mi53, The Avenues, Norwich, Norfolk NR2 3QR5
£345K06/231.12 mi11, Overbury Road, Norwich, Norfolk NR6 5LB5
£630K09/241.14 mi144, Christchurch Road, Norwich NR2 3PG5
£630K09/241.14 mi144, Christchurch Road, Norwich NR2 3PG5
£425K08/211.15 mi11, Pigg Lane, Norwich, Norfolk NR3 1RS5
£470K07/231.15 mi12, Pigg Lane, Norwich, Norfolk NR3 1RS5
£677.3K06/211.15 mi119, Christchurch Road, Norwich, Norfolk NR2 3PG5
£790K05/231.15 mi117, Christchurch Road, Norwich, Norfolk NR2 3PG5
£555K10/241.16 mi108, Constitution Hill, Norwich NR3 4BB5
£580.5K03/231.2 mi501, Earlham Road, Norwich, Norfolk NR4 7HN5
£725K08/221.25 mi88, Christchurch Road, Norwich, Norfolk NR2 3NG5
£625K06/211.27 mi3, Marionville Road, Norwich, Norfolk NR3 4DB5
£487.5K01/231.31 mi33, Phillipa Flowerday Plain, Norwich, Norfolk NR2 2TA5
£527.5K09/231.31 mi18, Phillipa Flowerday Plain, Norwich, Norfolk NR2 2TA5
£580K12/221.33 mi18, Jessopp Road, Norwich, Norfolk NR2 3QA5
£385K11/241.33 mi4, Harlington Avenue, Norwich NR6 5LJ5
£750K03/231.34 mi59, Mount Pleasant, Norwich, Norfolk NR2 2DQ5
£435K06/231.36 mi9, Edward Jodrell Plain, Norwich, Norfolk NR2 2TD5
£950K07/221.36 mi202, Unthank Road, Norwich, Norfolk NR2 2AH5
£555K06/211.38 mi55, Low Road, Hellesdon, Norwich, Norfolk NR6 5AF5
£560K07/241.38 mi63, Low Road, Hellesdon, Norwich, Norfolk NR6 5AF5
£330K11/231.4 mi78, Oval Road, Norwich, Norfolk NR5 0DQ5
£610K03/251.42 mi206, Constitution Hill, Norwich NR3 4HB5
£610K03/251.42 mi206, Constitution Hill, Norwich NR3 4HB5
£2.0M05/221.45 mi20, Christchurch Road, Norwich, Norfolk NR2 2AE5
£420K07/211.46 mi5, Salter Avenue, Norwich, Norfolk NR4 7LX5
£650K12/221.47 mi1, Colkett Drive, Old Catton, Norwich, Norfolk NR6 7ND5
£1.4M07/241.49 mi41, Newmarket Road, Norwich NR2 2HN5
£900K03/231.52 mi57, Newmarket Road, Norwich, Norfolk NR2 2HW5
£577.5K06/231.54 mi15, Baltic Wharf, Norwich, Norfolk NR1 1QA5

Local Area Statistics

Population in NR2

25,782

Population in Norwich

366,887

Town centre distance

0.72 miles away

Nearest school

0.30 miles away

Nearest train station

1.66 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-1%

Sales demand

Seller's market

Capital growth (5yrs)

+19%

Property History

Listed for £290,000

August 9, 2024

Floor Plans

Property image

Description

  • No Onward Chain +
  • Currently Let As A Norwich City Licensed HMO Professional Multi-Let +
  • Potential Rental of £2700 PCM Including Bills +
  • Five Bedrooms +
  • Two Bathrooms & A Separate Cloakroom +
  • Lounge/Diner With A Balcony +
  • Fitted Kitchen +
  • Enclosed Courtyard Garden +
  • Integral Single Garage & A Parking Space +
  • Communal Landscaped Garden +

Guide Price £290,000- £300,000 Priced to sell!! No Onward Chain. This three storey mid terrace house,was let as a Norwich City Licensed HMO professional multi-let, with potential of £2700 per calendar month, including bills. The accommodation comprises five bedrooms plus a study, two bathrooms, and one cloakroom. The property features a fitted kitchen and a good sized lounge/diner with balcony. Benefits include double glazing and gas central heating. Externally, there is an enclosed paved rear courtyard garden and an integral single garage. Residents can also enjoy the communal landscaped garden area adjacent to the river with stunning views and seating areas.

Old Laundry Court is situated just West of the City centre of Norwich and offers an enviable living experience close to the City centre. This prime location provides easy access to local amenities that include supermarkets, pubs, beautiful parks and vibrant community spaces. Residents can enjoy leisurely walks along the river, which the property is opposite to, adding to its serene and picturesque charm.

Part glazed front door to:-

Entrance Hall
Part glazed front door to:-

Bedroom 1 - 14'2" (4.32m) x 8'8" (2.64m)
Double glazed door to the rear.

Bedroom 2 - 12'9" (3.89m) x 7'4" (2.24m)
Double glazed door to the rear.

Cloakroom
Low level WC, wash basin, tiled splashbacks.

First Floor Landing
Staircase to the second floor.

Bedroom 3 - 11'10" (3.61m) x 10'10" (3.3m)
Double glazed window to the rear.

Kitchen - 11'9" (3.58m) x 7'9" (2.36m)
Double glazed window to the rear, fitted with a range base units, work surfaces, inset one and a half bowl sink and drainer with mixer tap over, tiled splashbackd, space for a washing machine and fridge/freezer, electric hob with extractor hood over, electric oven and grill.

Lounge/Diner - 15'0" (4.57m) x 10'3" (3.12m)
Double glazed French doors to the balcony.

Second Floor Landing
Doors to:-

Bedroom 4 - 13'7" (4.14m) x 13'4" (4.06m) Max
Double glazed window to the front, door to:-

En-Suite
Shower cubicle, wash basin, low level WC, tiled splashbacks, extractor fan.

Bedroom 5 - 9'0" (2.74m) x 7'11" (2.41m)
Double glazed window to the rear.

Study - 12'8" (3.86m) x 8'6" (2.59m)
Double glazed window to the rear.

Bathroom
Panelled bath with shower over, wash basin, low level WC, extractor fan, tiled splashbacks.

Outside
Access to the integral single garage with up and over door, 14` plus recess x 9`5`. To the rear brick walling encloses a paved courtyard garden. There is an attractive landscaped communal garden area opposite which is lawned with well stocked shrub and flower borders and rose beds with seating areas overlooking the River Wensum.

Agents Note
HMO license valid until 21/08/2028.

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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