6 Bed Detached House, Refurb/BRRR, Norwich, NR4 7LA, £900,000

Norwich, Norfolk, NR4 7LA - 3 views - 6 months ago

Under Offer
Refurb/BRRR
~186 m²
+12 photos

ValuationOvervalued

Sold Prices£182.5K - £1.5M
Sold Prices/m²£2.1K/m² - £5.6K/m²

 

 

Square Metres

~186 m²
Price/m²£4.8K/m²

Value Estimate

£573,783

 

 

End Value (After Refurb)

£711,603

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£225,000

Stamp Duty & Legal Fees

£60,700

Refurb Costs

£84,000

Bridging Loan Interest

£23,625

Total Cash In

£395,075

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£711,603

Mortgage (After Refinance)

£533,702

Mortgage LTV

75%

Cash Left In

£395,075

Equity

£177,901

Rent Range

£1,200 - £3,900

Rent Estimate

£2,061

Running Costs/mo

£2,656

Cashflow/mo

£-595

Cashflow/yr

£-7,140

Gross Yield

3%

Local Sold Prices

20 sold prices from £182.5K to £1.5M, average is £678.5K. £2.1K/m² to £5.6K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£855K09/220.19 mi185, Newmarket Road, Norwich, Norfolk NR4 6AP6
£520K02/210.25 mi40, Ebbisham Drive, Norwich, Norfolk NR4 6HW6
£615K03/210.4 mi1, Bluebell Crescent, Norwich, Norfolk NR4 7LE6
£350K06/210.57 mi42, Sotherton Road, Norwich, Norfolk NR4 7DB6
£935K07/230.73 mi321, Unthank Road, Norwich, Norfolk NR4 7QA6
£880K06/210.79 mi105, Newmarket Road, Norwich, Norfolk NR2 2HT6
£845K10/200.9 mi274, Unthank Road, Norwich, Norfolk NR2 2AJ6
£1.1M01/230.96 mi17, Christchurch Road, Norwich, Norfolk NR2 2AE6
£1.4M12/220.96 mi22, Christchurch Road, Norwich, Norfolk NR2 2AE6
£530K02/211.04 mi23, Low Road, Keswick, Norwich, Norfolk NR4 6TZ6
£1.5M03/231.06 mi6, Lime Tree Road, Norwich, Norfolk NR2 2NQ6
£415K04/211.14 mi12, Salter Avenue, Norwich, Norfolk NR4 7LX6
£951.2K07/221.21 mi145, Christchurch Road, Norwich, Norfolk NR2 3PQ6
£742K06/211.45 mi143, Earlham Road, Norwich, Norfolk NR2 3RG6
£275K08/211.89 mi99, Motum Road, Norwich, Norfolk NR5 8EH6
£286.5K10/222.02 mi71, Stevenson Road, Norwich, Norfolk NR5 8TS6
£182.5K11/202.1 mi7, Tizzick Close, Norwich, Norfolk NR5 9HB6
£995K02/212.25 mi80, Bracondale, Norwich, Norfolk NR1 2BE6
£506K06/212.26 mi644, Dereham Road, Norwich, Norfolk NR5 0SZ6
£308K06/212.7 mi57, Thorpe Road, Norwich, Norfolk NR1 1UD6

Local Rents

50 rents from £1.2K/mo to £3.9K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£3,05006/240.09 miChestnut Hill, Norwich, NR46
£3,90012/240.1 miNewmarket Road, Norwich, Norfolk, NR48
£2,20006/240.16 miUnthank Road, Norwich4
£1,80012/240.17 miBek Close, Norwich, NR44
£1,80012/240.17 miBek Close, Norwich, NR44
£1,45012/240.24 mi-3
£1,40012/240.25 miEbbisham Drive, Norwich3
£1,20012/240.25 miHavant Close, NORWICH3
£1,40006/240.26 miNorvic Drive, NR43
£1,55012/240.26 miNorvic Drive, NORWICH3
£2,60012/240.26 miLeng Crescent, Norwich, NR46
£1,80006/240.28 miBrentwood, Norwich, NR43
£1,56006/240.29 miOsbourne Road, NR44
£1,34012/240.3 miBlakeney Close, Eaton, NR44
£1,90006/240.31 mi-3
£2,00006/240.31 mi-3
£2,00003/250.31 mi-3
£1,30001/240.32 miLeng Crescent, Norwich3
£1,40012/240.32 mi-4
£2,60012/240.32 miLeng Crescent, Norwich6
£3,00006/240.33 miLeng Crescent, Norwich, NR46
£2,60006/240.33 miLeng Crescent, Norwich, NR46
£1,52011/240.34 mi-4
£2,75006/240.38 miSumpter Road, Norwich, NR45
£2,20006/240.38 miSumpter Road, Norwich4
£1,85006/240.39 miOsborne Road, Norwich, Norfolk, NR44
£1,80006/240.4 miPettus Road, Norwich, 4
£2,25006/240.4 miPeckover Road, Norwich, NR45
£1,60002/240.4 miPeckover Road, Norwich4
£1,75012/240.41 miBrentwood, Norwich, NR44
£3,00012/240.42 miNasmith Road, Norwich5
£2,60012/240.42 miNasmith Road, NORWICH5
£1,65012/240.43 mi-4
£1,60003/240.43 miNasmith Road, Norwich4
£2,00012/240.44 miPettus Road, Norwich, Norfolk, NR44
£1,49506/240.44 miPettus Road, NORWICH4
£2,60012/240.44 miNasmith Road, Norwich5
£2,75006/240.44 miNasmith Road, Norwich5
£2,75006/240.44 miNasmith Road, Norwich, NR45
£3,30006/240.45 miNasmith Road6
£2,10003/240.45 miNasmith Road, Norwich, NR45
£2,10012/240.45 miNasmith Road, Norwich5
£1,90006/240.46 miNasmith Road, Norwich, NR44
£2,75006/240.46 miPeckover Road, Norwich, NR45
£1,55012/240.46 miBuckingham Road, Norwich4
£3,30006/240.46 miBuckingham Road, Norwich, NR46
£1,65012/240.46 mi-4
£1,75002/250.46 mi-4
£1,75003/250.46 mi-4
£1,60012/240.47 miBuckingham Road, Norwich4

Local Area Statistics

Population in NR4

22,331

Population in Norwich

366,887

Town centre distance

2.54 miles away

Nearest school

0.40 miles away

Nearest train station

2.44 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-15%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Listed for £900,000

October 14, 2024

Floor Plans

Description

  • Period home requiring refurbishment +
  • Sought-after NR4 location +
  • No onward chain +
  • Grounds approaching an acre +
  • Opportunity to create a special home +
  • EPC Rating = E +

*Best & Final offers for the attention of Michaela Maldonado at 12:00 on Wednesday, 6th November 2024*

Description

210 Newmarket Road is a large period house situated on one of Norwich’s most sought-after roads. The property does now require a process of renovation and refurbishment but offers immense potential for a buyer who is looking to make their own mark on a very special city home.

Being sold with the advantage of no onward chain this is a superb opportunity not to be missed. Boasting characterful features throughout such as high ceilings associated with the period, several fireplaces and attractive sash windows.
The ground floor accommodation comprises of an entrance hall with impressive staircase, sitting room with feature fireplace, formal dining room with fireplace, drawing room, kitchen/breakfast room, utility room, garden room, cloakroom and boot room. To the lower level is a generous series of cellar rooms adding further potential to be utilised as a buyer wishes.

The first floor consists of six bedrooms including the principal room with a double aspect over the gardens. These rooms are served via two family bathrooms and a useful separate cloakroom off the landing.

Outside
The property is approached via a lengthy private driveway off Elveden Close which gives ample off road parking for several cars as well as leads to the garage. Sitting within a plot approaching an acre, the house stands proudly within its grounds which are enclosed by hedging as well as an attractive section of wall. With mature shrubs and trees in situ the property benefits from a great amount of privacy for a house located on the edges of the city. The gardens are mainly laid to lawn but there is an area of terracing to the rear of the garden room.

A detached garage also contains a series of workshop and store rooms for useful garden storage.

Location

210 Newmarket Road is conveniently situated for easy access to Norwich and its surroundings and is located off Elveden Close. The increasingly popular cultural city of Norwich offers an extensive shopping district comprising national retailers, charming boutiques and specialist independent stores. There is also a fantastic mix of theatres including the Theatre Royal, Maddermarket Theatre and Norwich Playhouse, cinemas and numerous galleries and museums. There is a regular rail service to London Liverpool Street with the fastest journey time of 90 minutes.

Private and state school education can be found in a number of schools including Town Close House, Norwich School, Norwich High School for Girls and Eaton City of Norwich School, alongside the University of East Anglia, all of which are within close proximity.

Square Footage: 3,950 sq ft

Acreage: 0.93 Acres

Additional Info

Services
Mains water, gas central heating, electricity and mains drainage.

Agent's Note
The current owners do intend to place an overage clause on the land in the event of any future development.

Local Authority
Norwich City District Council
Council tax band H

Fixtures & Fittings
All fixtures and fittings including fitted carpets and curtains are specifically excluded from the sale, but may be available in addition, subject to separate negotiation.

Viewings
Strictly by appointment with Savills. If there is any point which is of particular importance to you, we invite you to discuss this with us, especially before you travel to view the property.

Important Notice
Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Agent Details

Savills, Norwich

01603 361924

Next Steps?

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