3 Bed Bungalow, Refurb/BRRR, Norwich, NR15 2LP, £450,000

Mill Road, Hempnall, NR15 2LP - 5 months ago

Refurb/BRRR
~93 m²
+18 photos

ValuationOvervalued

Sold Prices£185K - £797K
Sold Prices/m²£2.2K/m² - £8.2K/m²

 

 

Square Metres

~93 m²
Price/m²£4.8K/m²

Value Estimate

£276,304

 

 

End Value (After Refurb)

£436,250

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£112,500

Stamp Duty & Legal Fees

£24,700

Refurb Costs

£42,052

Bridging Loan Interest

£11,813

Total Cash In

£192,815

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£436,250

Mortgage (After Refinance)

£327,188

Mortgage LTV

75%

Cash Left In

£192,815

Equity

£109,063

Rent Range

£695 - £1,950

Rent Estimate

£1,322

Running Costs/mo

£1,648

Cashflow/mo

£-326

Cashflow/yr

£-3,908

Gross Yield

4%

Local Sold Prices

50 sold prices from £185K to £797K, average is £265K. £2.2K/m² to £8.2K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£408K09/210.24 miSchool View, The Street, Hempnall, Norwich, Norfolk NR15 2AD3
£215K03/230.26 mi14, Roberts Close, Hempnall, Norwich, Norfolk NR15 2ND3
£283K12/220.27 mi52, Old Market Way, Hempnall, Norwich, Norfolk NR15 2LZ3
£242.5K11/230.33 mi32, Old Market Way, Hempnall, Norwich, Norfolk NR15 2LZ3
£265K06/210.36 mi39, Coronation Crescent, Hempnall, Norwich, Norfolk NR15 2RA3
£375K06/210.41 miRafters, Hempnall Road, Fritton, Norwich, Norfolk NR15 2LN3
£415K07/231.23 mi33, Alburgh Road, Hempnall, Norwich, Norfolk NR15 2NS3
£278K06/211.23 mi49, Alburgh Road, Hempnall, Norwich, Norfolk NR15 2NS3
£380K03/211.23 mi31, Alburgh Road, Hempnall, Norwich, Norfolk NR15 2NS3
£797K11/221.39 miManor Farm Cottage, The Green, Saxlingham Nethergate, Norwich, Norfolk NR15 1TF3
£340K03/231.78 mi5, Pitts Hill Close, Saxlingham Nethergate, Norwich, Norfolk NR15 1AZ3
£315K10/201.78 miThorpe View, Pitts Hill, Saxlingham Nethergate, Norwich, Norfolk NR15 1PB3
£272K11/201.81 mi4, Steward Close, Saxlingham Nethergate, Norwich, Norfolk NR15 1AN3
£253K07/231.96 mi19, Chestnut Road, Tasburgh, Norwich, Norfolk NR15 1UH3
£280K09/221.96 mi14, Chestnut Road, Tasburgh, Norwich, Norfolk NR15 1UH3
£245K11/221.96 mi2, Chestnut Road, Tasburgh, Norwich, Norfolk NR15 1UH3
£215K10/201.96 mi19, Chestnut Road, Tasburgh, Norwich, Norfolk NR15 1UH3
£185K02/211.99 mi13, Woodland Rise, Tasburgh, Norwich, Norfolk NR15 1NF3
£185K02/211.99 mi13, Woodland Rise, Tasburgh, Norwich, Norfolk NR15 1NF3
£305K10/222.05 mi25, Lammas Road, Tasburgh, Norwich, Norfolk NR15 1NZ3
£305K09/232.11 mi45, Church Road, Tasburgh, Norwich, Norfolk NR15 1ND3
£392.5K12/222.14 mi10, Valley Road, Tasburgh, Norwich, Norfolk NR15 1NG3
£265K04/212.23 mi11, Church Road, Topcroft, Bungay, Norfolk NR35 2BH3
£285K04/212.24 mi1, Fairfield Close, Long Stratton, Norwich, Norfolk NR15 2WT3
£225K10/202.32 mi37, Field Acre Way, Long Stratton, Norwich, Norfolk NR15 2WE3
£240K05/212.32 mi12, Field Acre Way, Long Stratton, Norwich, Norfolk NR15 2WE3
£277K02/242.32 mi23, Field Acre Way, Long Stratton, Norwich, Norfolk NR15 2WE3
£240K10/232.32 mi38, Churchfields Road, Long Stratton, Norwich, Norfolk NR15 2WH3
£265K08/222.32 mi36, Churchfields Road, Long Stratton, Norwich, Norfolk NR15 2WH3
£255K06/232.34 mi11, West End, Saxlingham Thorpe, Norwich, Norfolk NR15 1UE3
£285K09/232.34 mi13, West End, Saxlingham Thorpe, Norwich, Norfolk NR15 1UE3
£300K12/222.35 mi31, Hill Farm Road, Long Stratton, Norwich, Norfolk NR15 2WA3
£235K12/202.35 mi8, Folkard Close, Long Stratton, Norwich, Norfolk NR15 2WL3
£212.8K12/202.39 mi58, Hill Farm Road, Long Stratton, Norwich, Norfolk NR15 2WA3
£227K02/212.39 mi31, Hill Farm Road, Long Stratton, Norwich, Norfolk NR15 2WA3
£225K04/212.39 mi24, Hill Farm Road, Long Stratton, Norwich, Norfolk NR15 2WA3
£225K01/212.39 mi50, Hill Farm Road, Long Stratton, Norwich, Norfolk NR15 2WA3
£320K10/222.39 mi25, Hill Farm Road, Long Stratton, Norwich, Norfolk NR15 2WA3
£240K04/212.4 mi18, Springfield Chase, Long Stratton, Norwich, Norfolk NR15 2WQ3
£270K12/222.43 mi7, Oakfield Road, Long Stratton, Norwich, Norfolk NR15 2WB3
£250K08/232.43 miChurch House, Norwich Road, Long Stratton, Norwich, Norfolk NR15 2PG3
£450K03/232.43 miCobweb Cottage, Topcroft Street, Topcroft, Bungay, Norfolk NR35 2BL3
£450K07/232.47 miHalloween, Church Hill, Tasburgh, Norwich, Norfolk NR15 1NB3
£240K06/232.48 mi2, Beech Court, Long Stratton, Norwich, Norfolk NR15 2WY3
£200K03/212.48 mi7, Greenfield Way, Long Stratton, Norwich, Norfolk NR15 2WP3
£215K05/242.48 mi7, Greenfield Way, Long Stratton, Norwich, Norfolk NR15 2WP3
£275K05/212.5 mi5, Yew Tree Hollow, Long Stratton, Norwich, Norfolk NR15 2QY3
£318K02/232.51 miMelrose Cottage, The Street, Long Stratton, Norwich, Norfolk NR15 2AH3
£215K06/232.56 mi2, St Andrews Close, Long Stratton, Norwich, Norfolk NR15 2PN3
£245K12/212.58 mi18, St James Way, Long Stratton, Norwich, Norfolk NR15 2PL3

Local Rents

12 rents from £695/mo to £1.9K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,95008/240.42 miFritton4
£1,95006/240.48 miScots Bungalow, Hempnall, Norwich4
£1,15003/241.74 miThe Street, Saxlingham Nethergate, Norwich, Norfolk, NR152
£1,25006/241.74 miChurch Hill, Saxlingham Nethergate, Norwich, Norfolk, NR152
£1,55008/242.32 miChurchfields Road4
£69506/242.32 miChurchfields Road,Long Stratton,NR151
£1,65006/242.33 miHolmes Close4
£1,65008/242.33 miHolmes Close4
£1,50006/242.34 miShelton Spot, Shelton, Norwich, Norfolk, NR154
£69512/242.41 mi-1
£97506/242.43 miNorwich Road, NR153
£85002/252.48 mi-2

Local Area Statistics

Population in NR15

15,806

Population in Norwich

366,887

Town centre distance

9.58 miles away

Nearest school

0.30 miles away

Nearest train station

8.58 miles away

 

 

Rental growth (12m)

+4%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £450,000

October 28, 2024

Floor Plans

Description

  • Gorgeous Plot +
  • Rural Setting +
  • Field Views +
  • Ample Parking +
  • Opportunity for further developments (STP) +
  • Equestrian Opportunities +
  • Chain Free +
  • Wealth of Outbuildings +

Welcome to Meadow Brook, this rural retreat is situated in the quaint village of Hempnall, offering the perfect opportunity for further development (stp). This property boasts stunning field views and equestrian opportunities, making it a dream for horse lovers or those looking to embrace country living.
This versatile bungalow can be used as a 2 or 3 bedroom residence, with a wealth of outbuildings and garden space providing endless opportunities for expansion (stp) or renovation. Enjoy the peace and tranquility of the countryside whilst still being within easy access of local amenities.
Don't miss out on this unique, chain free bungalow and schedule your viewing today!

Agent Details

Howards, covering Long Stratton

01508 505543

Next Steps?

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