2 Bed Terraced House, Single Let, Norwich, NR3 4BA, £160,000

138 Magdalen Road, Norwich, Norfolk, NR3 4BA - 4 months ago

BTL
ROI: 3%
67 m²
+7 photos

ValuationUndervalued

Sold Prices£113K - £300K
Sold Prices/m²£2.1K/m² - £4.3K/m²

 

 

Square Metres

67 m²
Price/m²£2.4K/m²

Value Estimate

£203,277
BMV16%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£6,450

Total Cash In

£46,450

 

 

Cash Out

 

Rent Range

£825 - £1,950

Rent Estimate

£848

Running Costs/mo

£690

Cashflow/mo

£158

Cashflow/yr

£1,901

ROI

4%

Gross Yield

6%

Local Sold Prices

50 sold prices from £113K to £300K, average is £215.5K. £2.1K/m² to £4.3K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£235K12/210.05 mi95, Rosebery Road, Norwich, Norfolk NR3 3AB2
£215K12/200.05 mi81, Rosebery Road, Norwich, Norfolk NR3 3AB2
£260K09/210.07 mi49, Rosebery Road, Norwich, Norfolk NR3 3AB2
£255K01/230.07 mi45, Rosebery Road, Norwich, Norfolk NR3 3AB2
£200K04/230.09 mi54, Lawson Road, Norwich, Norfolk NR3 4LF2
£210K11/200.1 mi77, Lawson Road, Norwich, Norfolk NR3 4LE2
£300K11/210.1 mi112, Magdalen Road, Norwich, Norfolk NR3 4AN2
£257K12/230.1 mi86, Magdalen Road, Norwich, Norfolk NR3 4AN2
£270K06/230.11 mi8, Pelham Road, Norwich, Norfolk NR3 3NG2
£232.5K09/230.11 mi12, Pelham Road, Norwich, Norfolk NR3 3NG2
£220K11/200.12 mi40, Denmark Road, Norwich, Norfolk NR3 4JS2
£195K03/210.13 mi59, Sprowston Road, Norwich, Norfolk NR3 4QJ2
£200K08/210.13 mi95, Sprowston Road, Norwich, Norfolk NR3 4QJ2
£230K10/230.14 mi23, Temple Road, Norwich, Norfolk NR3 1ED2
£180K01/210.14 mi15, Temple Road, Norwich, Norfolk NR3 1ED2
£210K08/230.15 mi12, Rosebery Road, Norwich, Norfolk NR3 3NA2
£220K07/230.15 mi30, Rosebery Road, Norwich, Norfolk NR3 3NA2
£180K12/200.15 mi38, Rosebery Road, Norwich, Norfolk NR3 3NA2
£205K03/210.15 mi22, Rosebery Road, Norwich, Norfolk NR3 3NA2
£230K03/210.15 mi17, Rosebery Road, Norwich, Norfolk NR3 3NA2
£188K01/210.15 mi17, Northcote Road, Norwich, Norfolk NR3 4QF2
£240K09/230.15 mi17, Northcote Road, Norwich, Norfolk NR3 4QF2
£200K01/210.15 mi47, Northcote Road, Norwich, Norfolk NR3 4QF2
£240K02/230.15 mi99, Sprowston Road, Norwich, Norfolk NR3 4QG2
£175K02/210.17 mi36, Waterloo Road, Norwich, Norfolk NR3 1EW2
£203K09/230.17 mi78, Waterloo Road, Norwich, Norfolk NR3 1EW2
£205K11/230.17 mi79, Waterloo Road, Norwich, Norfolk NR3 1EG2
£113K03/210.17 mi51, Waterloo Road, Norwich, Norfolk NR3 1EG2
£200K10/210.17 mi21, Albany Road, Norwich, Norfolk NR3 1EE2
£217.5K11/210.18 mi21, Sewell Road, Norwich, Norfolk NR3 4BP2
£180K08/210.18 mi181, Sprowston Road, Norwich, Norfolk NR3 4QQ2
£216K09/210.18 mi54, Magdalen Road, Norwich, Norfolk NR3 4AQ2
£250K03/240.19 mi6, Churchill Road, Norwich, Norfolk NR3 4PY2
£225K02/240.19 mi44, Churchill Road, Norwich, Norfolk NR3 4PY2
£205K12/230.19 mi14, Churchill Road, Norwich, Norfolk NR3 4PY2
£204.1K03/210.19 mi48, Churchill Road, Norwich, Norfolk NR3 4PY2
£215K02/240.19 mi58, Churchill Road, Norwich, Norfolk NR3 4PY2
£175K12/200.19 mi10, Branford Road, Norwich, Norfolk NR3 4QD2
£180K09/210.19 mi14, Bell Road, Norwich, Norfolk NR3 4RA2
£243K06/210.2 mi14, Albany Road, Norwich, Norfolk NR3 1EE2
£240K04/210.2 mi2a, Albany Road, Norwich, Norfolk NR3 1EE2
£207.5K12/200.2 mi31, Albany Road, Norwich, Norfolk NR3 1EE2
£233K10/230.2 mi27, Albany Road, Norwich, Norfolk NR3 1EE2
£207.5K12/200.2 mi114, Spencer Street, Norwich, Norfolk NR3 4PF2
£230K08/230.2 mi107, Spencer Street, Norwich, Norfolk NR3 4PF2
£245K04/230.2 mi118, Spencer Street, Norwich, Norfolk NR3 4PF2
£230K05/220.22 mi1, Chamberlin Road, Norwich, Norfolk NR3 3LZ2
£203.5K11/200.22 mi58, Knowsley Road, Norwich, Norfolk NR3 4PS2
£232K06/230.22 mi6, Knowsley Road, Norwich, Norfolk NR3 4PS2
£249.5K06/230.22 mi56, Knowsley Road, Norwich, Norfolk NR3 4PS2

Local Rents

49 rents from £825/mo to £1.9K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,00006/240.04 mi-2
£1,05002/250.05 mi-2
£1,20009/240.06 mi-2
£1,20006/240.06 miRosebery Road, Norwich2
£84012/230.09 mi-2
£1,20008/240.09 miConstitution Hill, NORWICH2
£99507/240.09 miHoward Mews,Denmark RoadNorwich,NR3 4JU2
£99507/240.11 miSprowston Road, Norwich2
£1,20003/240.12 miDenmark Road2
£85007/240.12 miThe Erins, Norwich, NR32
£95006/240.15 miNorthcote Road, Norwich2
£1,05006/240.15 miNorthcote Road2
£1,10007/240.18 miSprowston Road, Norwich, 2
£1,10006/240.19 miSpencer Street, NORWICH2
£1,00008/240.19 miSpencer Street, Norwich, Norfolk, NR32
£1,15004/250.2 mi-2
£1,05007/240.2 miSpencer Street, Norwich, NR32
£99503/240.21 mi-2
£95010/240.22 mi-2
£1,95012/230.22 mi-2
£1,10008/240.23 miSilver Road, Norwich, Norfolk, NR32
£1,25008/240.23 miSt. Olaves Road, Norwich, NR32
£1,00006/240.24 miClarke Road, Norwich, NR32
£1,15007/240.24 miChurchill Road, Norwich2
£99506/240.24 miKnowsley Road, Norwich2
£1,30003/250.25 mi-2
£1,25006/240.25 miMagdalen Road, Norwich, 2
£95003/240.25 miNorwich2
£1,10006/240.25 miNorwich, NR32
£1,20008/240.26 miBeaconsfield Road2
£89501/240.27 mi-2
£89501/250.27 mi-2
£1,10008/240.27 mi-2
£1,20008/240.27 miSprowston Road, Norwich, NR32
£1,15007/240.27 miBeaconsfield Road, NR32
£89506/240.28 miGuernsey Road, Norwich2
£1,10001/250.28 mi-2
£1,25004/250.3 mi-2
£95006/240.3 miCrome Road, Norwich, NR32
£1,10008/240.32 miMarlborough Road, Norwich, Norfolk, NR32
£82508/240.33 miGilman Road, Norwich2
£1,05007/240.33 miPatteson Road, Norwich, NR32
£85006/240.35 miGertrude Road, NORWICH2
£90009/240.35 miMagpie Road2
£99507/240.36 miMagpie Road, Norwich2
£89506/240.36 miNorth City2
£89503/240.37 miRomany Road, Norwich, Norfolk, NR32
£95006/240.37 miRomany Road, Norwich2
£1,20006/240.38 miMagpie Road, Norwich, NR32

Local Area Statistics

Population in NR3

32,672

Population in Norwich

366,887

Town centre distance

0.33 miles away

Nearest school

0.20 miles away

Nearest train station

1.24 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+16%

Sales demand

Seller's market

Capital growth (5yrs)

+28%

Property History

Price changed to £160,000

February 20, 2025

Price changed to £165,000

January 19, 2025

Listed for £175,000

December 5, 2024

Sold for £25,000

1998

Floor Plans

Description

  • No Onward Chain +
  • Requires Modernising +
  • Electric Storage Heating +
  • Mostly Double Glazed +
  • Bi-Sected Rear Garden +
  • Two Double Bedrooms +
  • First Floor Bathroom +
  • Sold As Seen (Property To Be Cleared By Purchaser) +
  • EPC Rating - E +
  • Permit Parking +

Packed with potential is this North City terrace house requiring updating.
Upstairs there are two double bedrooms and a bathroom all with double glazed windows. Downstairs there is a sitting room with double glazed window to front, a dining room and separate kitchen which each have s ingle glazed window.
To the rear there is a small lean-to and a bisected garden.

Location - The thriving North City (NR3) offers a great selection of pubs, restaurants, cafes, takeaways, supermarkets and schools. There are regular bus routes to the centre of Norwich and to the mainline train station, with direct routes to London and Cambridge

Services - Mains water and drainage. Electric heating

Agent's Notes - The vendor has instructed us to sell the property as seen. Therefore, the new purchaser will be responsible for clearing the remaining items in the property.

Agent Details

Ben Allman Estate & Letting Agent, Norwich

01603 555577

Next Steps?

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