2 Bed Terraced House, Refurb/BRRR, Norwich, NR2 3RY, £400,000

Sandringham Road, Norwich, NR2 3RY - 2 views - 6 months ago

Sold STC
Leasehold
Refurb/BRRR
~68 m²
+15 photos

ValuationOvervalued

Sold Prices£150K - £367.5K
Sold Prices/m²£2.1K/m² - £5.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£5.9K/m²

Value Estimate

£233,814

 

 

End Value (After Refurb)

£351,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£100,000

Stamp Duty & Legal Fees

£20,700

Refurb Costs

£30,800

Bridging Loan Interest

£10,500

Total Cash In

£163,750

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£351,000

Mortgage (After Refinance)

£263,250

Mortgage LTV

75%

Cash Left In

£163,750

Equity

£87,750

Rent Range

£850 - £2,900

Rent Estimate

£1,189

Running Costs/mo

£1,355

Cashflow/mo

£-166

Cashflow/yr

£-1,988

Gross Yield

4%

Local Sold Prices

51 sold prices from £150K to £367.5K, average is £245K. £2.1K/m² to £5.1K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£255.5K12/220.04 mi34, Alexandra Road, Norwich, Norfolk NR2 3EB2
£239.5K12/200.04 mi32, Alexandra Road, Norwich, Norfolk NR2 3EB2
£237K03/230.04 mi30, Alexandra Road, Norwich, Norfolk NR2 3EB2
£215K12/200.06 mi46, Gladstone Street, Norwich, Norfolk NR2 3BH2
£205K06/210.06 mi22, Gladstone Street, Norwich, Norfolk NR2 3BH2
£317.6K03/210.08 mi47, St Philips Road, Norwich, Norfolk NR2 3BN2
£197K02/210.11 mi13, Stafford Street, Norwich, Norfolk NR2 3BA2
£197K02/210.11 mi13, Stafford Street, Norwich, Norfolk NR2 3BA2
£248K10/210.11 mi75, Connaught Road, Norwich, Norfolk NR2 3BS2
£270K05/230.11 mi95, Connaught Road, Norwich, Norfolk NR2 3BS2
£250K11/230.11 mi111, Connaught Road, Norwich, Norfolk NR2 3BS2
£300K05/230.14 mi38, Havelock Road, Norwich, Norfolk NR2 3HG2
£218.5K12/200.14 mi73, Alexandra Road, Norwich, Norfolk NR2 3EA2
£240K06/210.14 mi100, Alexandra Road, Norwich, Norfolk NR2 3EA2
£245K02/230.15 mi97, Gladstone Street, Norwich, Norfolk NR2 3BJ2
£214.5K08/230.15 mi103, Gladstone Street, Norwich, Norfolk NR2 3BJ2
£347K10/230.15 mi39, Havelock Road, Norwich, Norfolk NR2 3HQ2
£245K06/230.16 mi57, Edinburgh Road, Norwich, Norfolk NR2 3RJ2
£260K07/230.16 mi9, Edinburgh Road, Norwich, Norfolk NR2 3RJ2
£265K02/210.16 mi19, Wellington Road, Norwich, Norfolk NR2 3HT2
£262.5K09/210.16 mi45, Wellington Road, Norwich, Norfolk NR2 3HT2
£262.5K12/210.16 mi50, Wellington Road, Norwich, Norfolk NR2 3HT2
£307.5K03/230.16 mi36, Wellington Road, Norwich, Norfolk NR2 3HT2
£270K12/200.16 mi92, Stafford Street, Norwich, Norfolk NR2 3BG2
£288K03/240.16 mi86, Stafford Street, Norwich, Norfolk NR2 3BG2
£150K03/210.17 mi107, Belvoir Street, Norwich, Norfolk NR2 3AZ2
£325K06/230.19 mi51, Connaught Road, Norwich, Norfolk NR2 3BP2
£241K09/230.19 mi17, Connaught Road, Norwich, Norfolk NR2 3BP2
£180K12/200.2 mi117, Stafford Street, Norwich, Norfolk NR2 3BQ2
£246.1K07/230.2 mi52, Caernarvon Road, Norwich, Norfolk NR2 3HX2
£227K12/200.21 mi20, Denbigh Road, Norwich, Norfolk NR2 3AA2
£207.5K01/240.21 mi15, Denbigh Road, Norwich, Norfolk NR2 3AA2
£265K06/210.22 mi23, Denbigh Road, Norwich, Norfolk NR2 3HH2
£325K01/230.22 mi131, West Pottergate, Norwich, Norfolk NR2 4BW2
£275K06/210.23 mi80, Caernarvon Road, Norwich, Norfolk NR2 3HX2
£206.5K02/210.24 mi30, Helena Road, Norwich, Norfolk NR2 3BZ2
£265K09/210.24 mi74, Dereham Road, Norwich, Norfolk NR2 4BU2
£211K12/220.24 mi10, Adelaide Street, Norwich, Norfolk NR2 4JL2
£150K05/230.26 mi19a, Nelson Street, Norwich, Norfolk NR2 4DN2
£367.5K04/230.26 mi32, Cardiff Road, Norwich, Norfolk NR2 3HS2
£230K06/230.26 mi23, Swansea Road, Norwich, Norfolk NR2 3HU2
£265.4K09/230.27 mi61, Pembroke Road, Norwich, Norfolk NR2 3HD2
£232.5K11/200.28 mi65, Caernarvon Road, Norwich, Norfolk NR2 3HY2
£242.5K10/230.3 mi64, West End Street, Norwich, Norfolk NR2 4DP2
£254K12/220.3 mi101, West End Street, Norwich, Norfolk NR2 4DP2
£275K03/210.32 mi35, Avenue Road, Norwich, Norfolk NR2 3HW2
£199.5K03/210.37 mi46, Grant Street, Norwich, Norfolk NR2 4HA2
£205K01/240.4 mi2, Nile Street, Norwich, Norfolk NR2 4JU2
£220K04/240.4 mi17, Nile Street, Norwich, Norfolk NR2 4JU2
£210K01/210.41 mi30, Bowthorpe Road, Norwich, Norfolk NR2 3TW2
£192.5K04/210.41 mi64, Bowthorpe Road, Norwich, Norfolk NR2 3TW2

Local Rents

50 rents from £850/mo to £2.9K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£89506/240.04 miAlexandra Road, Norwich, NR22
£97507/240.06 miNorwich2
£1,25006/240.07 miPark Lane, Norwich2
£90006/240.09 miBelvoir Street, Golden Triangle2
£2,30006/240.11 mi-2
£1,50006/240.11 miEarlham Road, Norwich2
£1,25003/250.11 mi-2
£1,05006/240.14 miAlexandra Road, NORWICH2
£1,15006/240.15 miGladstone Street, Norwich, NR2 3BJ2
£95006/240.15 miGladstone Street2
£97501/250.15 mi-2
£1,10003/240.16 miGolden Triangle, NR22
£99506/240.18 mi-2
£1,10008/240.18 mi-2
£95002/250.18 mi-2
£99506/240.18 miSt. Philips Road, Norwich, NR22
£1,20007/240.18 miSt. Philips Road, Norwich, NR22
£1,10007/240.18 miSt. Philips Road, Norwich, NR22
£95007/240.18 mi-2
£95007/240.18 miDenbigh House, Norwich, NR22
£1,25008/240.2 migolden triangle2
£1,15006/240.2 miCaernarvon Road, Norwich2
£1,15006/240.21 miWinter Road, NORWICH2
£2,85008/240.23 miDereham Road, Norwich2
£1,10007/240.23 miHelena Road, Norwich, Norfolk, NR22
£85002/240.23 mi-2
£1,30012/240.23 mi-2
£1,14002/250.23 mi-2
£1,32507/240.24 miDenbigh Road, Norwich, Norfolk, NR22
£1,25006/240.25 miSwansea Road, Norwich, NR22
£99505/240.26 mi-2
£1,05006/240.27 miCaernarvon Road, Norwich2
£1,20006/240.27 miPembroke Road, NORWICH2
£90002/250.28 mi-2
£87503/240.3 miAdelaide Street, Norwich, Norfolk, NR22
£87511/240.3 mi-2
£1,09506/240.31 miNeville Street, Norwich, NR2 2PR2
£1,09502/250.32 mi-2
£2,90010/240.32 mi-2
£97509/240.34 mi-2
£97508/240.34 miLivingstone Street, Norwich, NR22
£1,15007/240.34 miUnthank Road, NR2 2PB2
£95006/240.34 miNorwich2
£1,20006/240.35 miUnthank Road, Norwich, NR22
£1,20007/240.35 miUnthank Road, Norwich, NR22
£97503/240.35 miLivingstone Street, Norwich, Norfolk, NR22
£1,25006/240.35 mi-2
£1,15001/250.35 mi-2
£1,09508/240.35 miUnthank Road, Norwich, Norfolk, NR22
£1,20002/250.36 mi-2

Local Area Statistics

Population in NR2

25,782

Population in Norwich

366,887

Town centre distance

0.94 miles away

Nearest school

0.10 miles away

Nearest train station

1.36 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Listed for £400,000

September 23, 2024

Floor Plans

Description

  • CHARMING END-OF-TERRACE HOME WITH ORIGINAL PERIOD FEATURES, OFFERING A UNIQUE OPPORTUNITY FOR MODERNISATION THROUGHOUT +
  • FLEXIBLE LIVING SPACES – FEATURING THREE RECEPTION ROOMS, INCLUDING A DUAL-ASPECT, BAY-FRONTED SITTING ROOM +
  • SPACIOUS KITCHEN WITH AMPLE STORAGE, COMPLETE WITH ADJOINING UTILITY ROOM AND WC +
  • A FAMILY HOME FULL OF POTENTIAL IN A SOUGHT-AFTER LOCATION +
  • TWO GENEROUSLY SIZED DOUBLE BEDROOMS COMPLEMENTED BY A FOUR-PIECE BATHROOM +
  • PRIVATE CORNER-PLOT WITH GARDEN AND GARAGE ACCESS +
  • AVAILABLE WITH NO ONWARD CHAIN +
  • POTENTIAL FOR OFF-ROAD PARKING IN FRONT OF THE GARAGE, WITH ON-ROAD PERMIT PARKING AVAILABLE AS AN ALTERNATIVE +

*Guide Price £400,000 - £425,000* This unique end-terraced family home features flexible living spaces, including three reception rooms, a dual-aspect bay-fronted sitting room, and a spacious kitchen with an adjoining utility room and WC. Upstairs, you'll find two generously sized double bedrooms and a four-piece bathroom equipped with both a bath and shower. The study can easily be converted into a third bedroom, making it versatile for various needs. Externally, the property is situated on a private corner plot with a well-proportioned garden and a garage, offering additional storage or parking options. With no onward chain and potential for off-road parking, this home presents a convenient opportunity for buyers. The Location The property is located within a five minute drive of the centre of Norwich, the popular medieval city and the heart of East Anglia. The city provides lively night life, cultural and social activities as well as a great shopping experience. State, Faith and independent schools for all age groups, local shopping facilities, supermarkets, public houses, and a range of parks are all within a close range. Also, within close proximity to the University of East Anglia and the N&N university hospital. Sandringham Road As you step inside, you are greeted by a series of flexible living spaces that can be tailored to suit your lifestyle. The property boasts three reception rooms, including a delightful dual-aspect, bay-fronted sitting room that exudes a sense of warmth and comfort. The spacious kitchen provides ample storage space and seamlessly connects to an adjoining utility room and WC for added convenience. Additionally, there's a study that can be transformed into a third bedroom if desired, along with a dedicated dining area, ideal for hosting gatherings and family meals.

Upstairs, the property features two generously sized double bedrooms, each offering a peaceful environment for rest. A four-piece bathroom, complete with both a bath and a shower, enhances the accommodation.

Externally, this family home sits on a private corner plot, offering access to a well-proportioned garden and garage, providing additional storage or parking options. The property is offered with no onward chain, allowing for a straightforward transaction for potential buyers. Furthermore, the property benefits from the potential for off-road parking in front of the garage, with the added option of on-road permit parking as an alternative solution for residents and visitors. Agents Note We understand this property will be sold freehold. Council Tax Band - C All mains services connected - gas central heating Asbestos Garage Roof

Disclaimer Minors and Brady, along with their representatives, are not authorized to provide assurances about the property, whether on their own behalf or on behalf of their client. We do not take responsibility for any statements made in these particulars, which do not constitute part of any offer or contract. It is recommended to verify leasehold charges provided by the seller through legal representation. All mentioned areas, measurements, and distances are approximate, and the information provided, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively. It should not be assumed that the property has all necessary planning, building regulations, or other consents. Services, equipment, and facilities have not been tested by Minors and Brady, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.

Agent Details

Minors & Brady, Unthank Road, Norwich

01603 361808

Next Steps?

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