3 Bed Terraced House, Refurb/BRRR, Norwich, NR2 1HH, £250,000

34 Copeman Street, Norwich, NR2 1HH - 3 months ago

BTL
Refurb/BRRR
ROI: 2%
~93 m²
+5 photos

ValuationFair Value

Sold Prices£100K - £630K
Sold Prices/m²£1.8K/m² - £6.3K/m²

 

 

Square Metres

~93 m²
Price/m²£2.7K/m²

Value Estimate

£252,500

 

 

End Value (After Refurb)

£269,631

Uplift in Value

+8%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£13,700

Refurb Costs

£42,055

Bridging Loan Interest

£6,563

Total Cash In

£126,567

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£269,631

Mortgage (After Refinance)

£202,223

Mortgage LTV

75%

Cash Released

£14,723

Cash Left In

£111,844

Equity

£67,408

Rent Range

£1,050 - £2,500

Rent Estimate

£1,401

Running Costs/mo

£1,143

Cashflow/mo

£258

Cashflow/yr

£3,098

ROI

2%

Gross Yield

7%

Local Sold Prices

50 sold prices from £100K to £630K, average is £352.5K. £1.8K/m² to £6.3K/m², average is £3.4K/m².

PriceDateDistanceAddressBeds 
£285K07/210.01 mi1, Damocles Court, Norwich, Norfolk NR2 1HN3
£425K03/240.04 mi18, Cow Hill, Norwich, Norfolk NR2 1HD3
£520K09/210.08 mi2, Ten Bell Lane, Norwich, Norfolk NR2 1HE3
£275K12/220.09 mi7, Cleveland Road, Norwich, Norfolk NR2 1NZ3
£370K09/210.13 mi8, Valentine Street, Norwich, Norfolk NR2 4BA3
£278K01/240.14 mi8, Chapelfield North, Norwich, Norfolk NR2 1NY3
£575K07/230.17 mi6b, Fishers Lane, Norwich, Norfolk NR2 1ET3
£427.5K04/220.18 mi33, St Giles Street, Norwich, Norfolk NR2 1JN3
£235K10/200.2 mi7, Raglan Street, Norwich, Norfolk NR2 4PJ3
£383K03/210.21 mi4, The Old Barley Market, Norwich, Norfolk NR2 1GG3
£425.3K09/210.22 mi9, Anchor Quay, Norwich, Norfolk NR3 3PR3
£300K03/230.22 mi11, Anchor Quay, Norwich, Norfolk NR3 3PR3
£425.3K09/210.22 mi9, Anchor Quay, Norwich, Norfolk NR3 3PR3
£556K10/230.25 mi4, Heigham Grove, Norwich, Norfolk NR2 3DQ3
£156K05/210.27 mi18, Canterbury Place, Norwich, Norfolk NR2 4QJ3
£180K12/230.27 mi38, Globe Place, Norwich, Norfolk NR2 2SQ3
£297K06/210.28 mi37, Earlham Road, Norwich, Norfolk NR2 3AD3
£472.5K05/210.28 mi60, Clarendon Road, Norwich, Norfolk NR2 2PW3
£262.8K09/220.3 mi10, Mancroft Walk, Norwich, Norfolk NR2 4QZ3
£410K09/210.3 mi15, Ampthill Street, Norwich, Norfolk NR2 2RG3
£327K12/200.3 mi31, Ampthill Street, Norwich, Norfolk NR2 2RG3
£275K10/230.3 mi21, Ampthill Street, Norwich, Norfolk NR2 2RG3
£300K02/230.32 mi9, The Shrublands, West Pottergate, Norwich, Norfolk NR2 4BS3
£400K06/210.33 mi6, Oxford Street, Norwich, Norfolk NR2 2RL3
£242.5K02/230.33 mi76, Dereham Road, Norwich, Norfolk NR2 4BU3
£557K11/230.33 mi62a, Unthank Road, Norwich, Norfolk NR2 2RN3
£460K12/200.34 mi16, Grosvenor Road, Norwich, Norfolk NR2 2PY3
£317.5K03/210.35 mi21, Heigham Road, Norwich, Norfolk NR2 3AT3
£295K11/230.35 mi57, Duke Street, Norwich, Norfolk NR3 3AP3
£480K12/210.37 mi35, Grosvenor Road, Norwich, Norfolk NR2 2PZ3
£337.5K06/210.37 mi71, Heigham Road, Norwich, Norfolk NR2 3AU3
£250K02/210.37 mi16, Belvoir Street, Norwich, Norfolk NR2 3AY3
£257.5K01/210.39 mi79, Duke Street, Norwich, Norfolk NR3 1DL3
£365K01/210.4 mi32, St Georges Street, Norwich, Norfolk NR3 1BA3
£235K10/230.4 mi11, Gladstone Street, Norwich, Norfolk NR2 3BH3
£555K10/220.4 mi1, Gladstone Street, Norwich, Norfolk NR2 3BH3
£536K08/230.41 mi88, Mill Hill Road, Norwich, Norfolk NR2 3DS3
£225K05/210.42 mi51, Gladstone Street, Norwich, Norfolk NR2 3BH3
£405K04/210.42 mi27, Essex Street, Norwich, Norfolk NR2 2BL3
£630K01/240.42 mi4, Essex Street, Norwich, Norfolk NR2 2BL3
£189.8K03/240.43 mi71, Gladstone Street, Norwich, Norfolk NR2 3BJ3
£100K02/210.43 mi52, Park Lane, Norwich, Norfolk NR2 3EF3
£440K11/220.44 mi15, St Stephens Square, Norwich, Norfolk NR1 3SS3
£153K01/210.44 mi21, Old Palace Road, Norwich, Norfolk NR2 4JE3
£475K05/210.44 mi15, Friars Quay, Norwich, Norfolk NR3 1ES3
£415K03/210.44 mi31, Friars Quay, Norwich, Norfolk NR3 1ES3
£425K03/210.44 mi30, Friars Quay, Norwich, Norfolk NR3 1ES3
£340K07/210.45 mi16, Calvert Street, Norwich, Norfolk NR3 1BY3
£305K03/210.45 mi14, Calvert Street, Norwich, Norfolk NR3 1BY3
£500K02/210.46 mi25, St Stephens Square, Norwich, Norfolk NR1 3SS3

Local Rents

50 rents from £1.1K/mo to £2.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,47506/240.01 mi-3
£1,47506/240.01 miDamocles Court, Norwich, NR23
£1,20007/240.02 miDukes Court, Wellington Lane, Norwich, NR23
£1,20003/240.02 miDukes Court, Wellington Lane, Norwich, NR23
£1,50006/240.12 miSt Benedicts Street, Norwich, NR23
£1,79507/240.13 miSt. Giles Street, Norwich, NR23
£1,05007/240.15 miNorwich3
£1,25007/240.21 miThe Old Barley Market, Norwich, NR23
£1,25007/240.21 miThe Old Barley Market, Norwich, NR23
£1,39506/240.22 miAnchor Quay, Norwich, Norfolk, NR33
£1,40003/250.25 mi-3
£1,30003/250.26 mi-3
£1,45006/240.28 miNew Mills Yard, Norwich3
£1,30002/240.29 mi-3
£1,40009/240.29 mi-3
£1,40003/240.31 miNeville Street, Norwich, Norfolk, NR23
£1,50007/240.32 miUnion Street, Fellowes Plain, Norwich3
£1,15006/240.32 miThe Shrublands, Norwich, Norfolk, NR23
£1,20006/240.33 miDereham Road, Norwich, NR23
£1,26007/240.35 miDerby Street3
£1,30008/240.37 miHeigham Road, Norwich, NR2 3AU3
£1,25006/240.4 miGladstone Street, Norwich, Norfolk, NR2 3BH3
£1,20006/240.41 miEssex Street, Norwich NR2 2BL3
£1,14006/240.41 miGladstone Street, Norwich NR2 3BH3
£1,25006/240.41 miAlms Lane, Norwich, NR3 1EX3
£1,40006/240.41 miOak Street, Norwich3
£1,20008/240.43 miThe Great Hall, Oak Street, NR33
£1,20006/240.43 miGladstone Street, Norwich NR2 3BJ3
£1,29006/240.44 miAlexandra Road, Norwich, NR23
£1,32505/240.44 mi-3
£1,29006/240.44 mi-3
£1,80006/240.45 miKenneth Mckee Plain, Norwich, Norfolk3
£1,26006/240.46 miAlexandra Road, Norwich, NR2 3EA3
£1,85006/240.46 miThe Chapters, Park Lane, Norwich3
£2,20006/240.46 miRedwell Street, Norwich3
£2,50007/240.46 miRedwell Street, Norwich3
£1,29508/240.46 miAlexandra Road, Norwich3
£1,49506/240.48 mi-3
£1,20006/240.5 miAvenue Road, Norwich NR2 3HW3
£1,26006/240.5 miAvenue Road, Norwich NR2 3HN3
£1,40003/250.5 mi-3
£2,00008/240.51 miCambridge Street, Norwich, NR23
£2,00009/240.51 mi-3
£1,15008/240.51 miClifton Street, Norwich3
£1,65006/240.52 miCity Centre, Norwich, NR23
£1,20008/240.53 mi-3
£1,20008/240.53 miSussex Street, Norwich, NR33
£1,30006/240.53 miWellington Road, NORWICH3
£1,20006/240.53 miYork Street, NORWICH3
£1,29507/240.53 miRose Valley, Off Unthank Road, Norwich3

Local Area Statistics

Population in NR2

25,782

Population in Norwich

366,887

Town centre distance

0.73 miles away

Nearest school

0.40 miles away

Nearest train station

0.92 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-7%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Listed for £250,000

December 11, 2024

Floor Plans

Description

  • No Chain / Buy To Let Investment +
  • End Of Terrace House +
  • City Centre Location +
  • Quiet Cul-De-Sac Street +
  • Two Reception Rooms +
  • Separate Modern Kitchen +
  • Three Bedrooms & Two Bathrooms +
  • Renovation Project +
  • Private Enclosed Garden +

IN SUMMARY
Located Just outside the CITY CENTRE within an EASY WALK of a plethora of amenities yet tucked away down a QUIET CUL-DE-SAC is this END OF TERRACE home. The house can be sold as an investment as previously a successful RENTAL property, or would make an ideal renovation project. The house itself offers two reception rooms both with fireplaces and a modern kitchen and rear lobby with a ground floor bathroom. On the first floor there are TWO DOUBLE BEDROOMS as well as a third bedroom/dressing room off the second bedroom with an en-suite shower room. Externally there are private rear gardens. The property is found within an excellent location in the sought after NR2 postcode and is only a 10 minute walk from the city centre. Permit parking can be found on the road outside.

SETTING THE SCENE
Approached from the quiet cul-de-sac road of Copeman Street just outside the city centre. There is a small front garden with low level wall leading to the main entrance door to the front.

THE GRAND TOUR
Entering via the main entrance door to the front there is a main reception room with fireplace. Beyond is a rear lobby with stairs to the first floor landing and the second reception beyond that with large understairs storage and another fireplace. The kitchen can be found beyond which has been re-fitted in recent years with built in storage and rolled edge worktops over as well as electric oven and hob over, integrated fridge and door to the rear garden. Beyond the kitchen is another lobby with space for white goods and a fitted cupboard with the bathroom beyond. The bathroom has a bath and shower over. Heading up to the first floor there is a double bedroom to the front with cupboard. To the rear, another double room with the third bedroom or dressing room leading off. Off the third bedroom is an en-suite shower room.

FIND US
Postcode : NR2 1HH
What3Words : ///ties.stray.chops

VIRTUAL TOUR
View our virtual tour for a full 360 degree of the interior of the property.

AGENTS NOTE
Buyers are advised the internal photos have been edited with personal items belonging to the previous tenants removed.

EPC Rating: E

Agent Details

Starkings & Watson, Norfolk & Suffolk

03300 433910

Next Steps?

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