2 Bed Bungalow, Refurb/BRRR, Norwich, NR6 5QF, £325,000

Neylond Crescent, Hellesdon, Norwich, Norfolk, NR6 5QF - 6 months ago

Sold STC
Refurb/BRRR
ROI: 1%
~68 m²
+10 photos

ValuationOvervalued

Sold Prices£130K - £415K
Sold Prices/m²£2.6K/m² - £7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.8K/m²

Value Estimate

£254,145

 

 

End Value (After Refurb)

£282,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£14,700

Refurb Costs

£30,580

Bridging Loan Interest

£8,531

Total Cash In

£136,812

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£282,500

Mortgage (After Refinance)

£211,875

Mortgage LTV

75%

Cash Left In

£136,812

Equity

£70,625

Rent Range

£840 - £1,850

Rent Estimate

£1,217

Running Costs/mo

£1,146

Cashflow/mo

£71

Cashflow/yr

£849

ROI

1%

Gross Yield

4%

Local Sold Prices

49 sold prices from £130K to £415K, average is £245K. £2.6K/m² to £7K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£350K10/230.06 mi18, Neylond Crescent, Norwich, Norfolk NR6 5QF2
£232.5K12/200.06 mi25, Neylond Crescent, Norwich, Norfolk NR6 5QF2
£250K01/210.06 mi36, Neylond Crescent, Norwich, Norfolk NR6 5QF2
£292.5K04/240.06 mi7, Neylond Crescent, Norwich, Norfolk NR6 5QF2
£240K06/230.07 mi17, Wood View Road, Hellesdon, Norwich, Norfolk NR6 5QB2
£255K05/240.11 mi41, Wood View Road, Hellesdon, Norwich, Norfolk NR6 5QD2
£415K04/210.13 mi41, Neylond Crescent, Norwich, Norfolk NR6 5QE2
£270K07/210.13 mi80, Neylond Crescent, Norwich, Norfolk NR6 5QE2
£253K09/210.18 mi64, Bernham Road, Norwich, Norfolk NR6 5QQ2
£262K01/240.18 mi32, Bernham Road, Norwich, Norfolk NR6 5QQ2
£278K02/240.18 mi62, Bernham Road, Norwich, Norfolk NR6 5QQ2
£222K12/200.19 mi4, Fastolf Close, Norwich, Norfolk NR6 5RE2
£165.1K09/210.23 mi177, Nursery Close, Norwich, Norfolk NR6 5SH2
£250K06/210.25 mi149, Middletons Lane, Norwich, Norfolk NR6 5SQ2
£240K05/210.28 mi6, Berrington Road, Norwich, Norfolk NR6 6PH2
£284K05/230.3 mi3, Links Avenue, Norwich, Norfolk NR6 5PE2
£130K05/210.3 mi89, Nursery Close, Norwich, Norfolk NR6 5SL2
£130K05/210.3 mi89, Nursery Close, Norwich, Norfolk NR6 5SL2
£130K05/210.3 mi89, Nursery Close, Norwich, Norfolk NR6 5SL2
£220K05/210.31 mi8, Gowing Close, Norwich, Norfolk NR6 6PX2
£235K03/210.31 mi12, Meadow Way, Norwich, Norfolk NR6 5NW2
£265K02/230.32 mi53, Cottinghams Drive, Norwich, Norfolk NR6 6PS2
£315K10/230.33 mi69, Saracen Road, Norwich, Norfolk NR6 6PB2
£242K03/210.34 mi65, Westwood Drive, Norwich, Norfolk NR6 5DF2
£240K05/210.36 mi16, Hamond Road, Norwich, Norfolk NR6 5RR2
£260K06/210.37 mi57, Hamond Road, Norwich, Norfolk NR6 5RR2
£245K12/210.38 mi4, Yelverton Close, Norwich, Norfolk NR6 5BW2
£240K03/210.38 mi6, Drayton Wood Road, Hellesdon, Norwich, Norfolk NR6 5BY2
£210K11/200.39 mi96, Links Avenue, Norwich, Norfolk NR6 5PG2
£373.5K10/230.41 mi12, Devon Avenue, Norwich, Norfolk NR6 5BH2
£180K02/230.44 mi42, Meadow Way, Norwich, Norfolk NR6 6XT2
£267.5K07/230.44 mi117, Gowing Road, Norwich, Norfolk NR6 6PY2
£190K11/210.46 mi30, Meadow Close, Norwich, Norfolk NR6 6XY2
£230K06/230.46 mi8, Meadow Close, Norwich, Norfolk NR6 6XY2
£260K05/230.47 mi2, Bush Road, Norwich, Norfolk NR6 6UF2
£300K01/230.48 mi27, Bush Road, Norwich, Norfolk NR6 6UF2
£198.5K05/210.51 mi89, Meadow Way, Norwich, Norfolk NR6 6XX2
£250K01/210.53 mi123, Holt Road, Norwich, Norfolk NR6 6UA2
£200K03/210.53 mi103, Meadow Way, Norwich, Norfolk NR6 6XX2
£200K03/210.53 mi103, Meadow Way, Norwich, Norfolk NR6 6XX2
£265K10/230.54 mi87, Hawthorne Avenue, Norwich, Norfolk NR6 6LF2
£330K06/230.54 mi106, Hawthorne Avenue, Norwich, Norfolk NR6 6LF2
£210K02/230.54 mi2, St Pauls Close, Norwich, Norfolk NR6 6LL2
£252K03/240.56 mi23, Sutherland Avenue, Norwich, Norfolk NR6 5LW2
£210.8K11/230.57 mi10, Lodore Avenue, Hellesdon, Norwich, Norfolk NR6 6XP2
£230K07/230.62 mi62, Hercules Road, Norwich, Norfolk NR6 5HH2
£257.5K02/230.62 mi40, Hercules Road, Norwich, Norfolk NR6 5HH2
£195K01/210.7 mi6, Samson Road, Norwich, Norfolk NR6 5HG2
£275K04/230.8 mi32, City View Road, Hellesdon, Norwich, Norfolk NR6 5HP2

Local Rents

10 rents from £840/mo to £1.9K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£84009/230.22 mi-2
£1,83312/240.22 mi309 Reepham Road, Norwich, Norfolk, NR6 5AD2
£1,20003/250.4 mi-2
£1,85002/250.46 mi-2
£1,50004/250.46 mi-2
£1,19501/250.66 mi-2
£1,05006/240.73 miBirchwood Road, Norwich2
£85001/250.99 mi-2
£1,10012/241.21 miGeorge Drive, Norwich, Norfolk, NR82
£85006/241.21 miBaxter Court, NR32

Local Area Statistics

Population in NR6

24,173

Population in Norwich

366,887

Town centre distance

2.29 miles away

Nearest school

0.30 miles away

Nearest train station

3.39 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+6%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £325,000

October 11, 2024

Floor Plans

Description

  • Extended 2 Bedroom Semi Detached Bungalow +
  • 23ft Lounge & Conservatory +
  • Kitchen & Breakfast Room +
  • 2 Double Bedrooms & Shower Room +
  • Loft Room With Access To Loft Storage +
  • Double Glazed, Gas Central Heating & Solar Panels +
  • Driveway parking & Garage With Electric Door +
  • Large & Fully Established Rear garden +
  • Close To Hellesdon Community Centre +
  • Viewing Advised – Please Call Now +

Situated in an extremely sought-after location is this spacious two-bedroom semi-detached bungalow. This impressive property needs some modernisation and offers convenient access to local shops and schools as well as being located close to Hellesdon community centre, ideal for those with children or for walking the dog.

The extended accommodation on offer includes a 23ft lounge/diner, a kitchen with separate breakfast room, a conservatory and two double bedrooms and a shower room. In addition, there is a generous loft room with access to a handy amount of loft storage. The property also benefits from double glazing and gas central heating and solar panels.

Outside, to the front of the property is a drive with ample off-road parking leading to a large single garage with an electric door, power and light. To the rear of property is a real surprise in the extremely generous and fully established garden. This stunning outside space is laid mainly to lawn with a patio area, a variety of attractive plants and shrubs as well as a green house and wooden shed.

Bungalows in this friendly and well-regarded neighbourhood are in in constant demand, and we expect this superb property to be no exception. Please call Winkworth now to arrange a viewing.

AGENTS NOTES
Tenure - Freehold
Council Tax Band - C
Local Authority - Broadland
We have been advised that the property is connected to mains water and electricity and gas.

Agent Details

Winkworth, Hellesdon

01603 361844

Next Steps?

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