Potential 4-Bed HMO, Norwich, NR5 8BA £240,000

Gipsy Close, Norwich, Norfolk, NR5 8BA - 2 views - a year ago
Sold STC
HMO
ROI: 6%
~73 m²
Property image

ValuationOvervalued

Sold Prices£186K - £520K
Sold Prices/m²£2.3K/m² - £5.8K/m²

 

 

Square Metres

~73.49 m²
Price/m²£3.3K/m²

Value Estimate

£222,947

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£15,500

Total Cash In

£75,500

 

 

Cash Out

 

Room Rate

£507

Gross Rent

£2,028

Running Costs/mo

£1,631

Cashflow/mo

£397

Cashflow/yr

£4,762

ROI

6%

Gross Yield

10%

Local Sold Prices

50 sold prices from £186K to £520K, average is £283.3K. £2.3K/m² to £5.8K/m², average is £3.3K/m².

Price
Date
Distance
Address
Beds
 
£520K06/210.08 mi555, Earlham Road, Norwich, Norfolk NR4 7HW3
£244K02/240.11 mi24, Earlham Green Lane, Norwich, Norfolk NR5 8HA3
£222.5K01/230.12 mi333, Bowthorpe Road, Norwich, Norfolk NR5 8AE3
£186K09/210.2 mi1, Shepherd Close, Norwich, Norfolk NR5 8HS3
£195K08/240.2 mi36, Bixley Close, Norwich, Norfolk NR5 8DH3
£330K07/230.21 mi513, Earlham Road, Norwich, Norfolk NR4 7HN3
£400K03/230.22 mi470, Earlham Road, Norwich, Norfolk NR4 7HP3
£313.8K03/230.22 mi8, Fieldview, Norwich, Norfolk NR5 8AQ3
£485K11/220.23 mi232, Bluebell Road, Norwich, Norfolk NR4 7LW3
£255K04/230.28 mi324, Bowthorpe Road, Norwich, Norfolk NR5 8AB3
£257K08/210.28 mi72, Roe Drive, Norwich, Norfolk NR5 8BT3
£475K06/230.29 mi7, Penryn Close, Norwich, Norfolk NR4 7LY3
£240K08/230.31 mi6, Richenda Close, Norwich, Norfolk NR5 8JG3
£255K01/230.31 mi11, Richenda Close, Norwich, Norfolk NR5 8JG3
£192.5K06/210.31 mi92, Beverley Road, Norwich, Norfolk NR5 8DL3
£225K11/230.33 mi26, Alicante Way, Norwich, Norfolk NR5 8BX3
£452.5K06/240.36 mi448, Earlham Road, Norwich, Norfolk NR4 7HL3
£260K02/240.37 mi13, Douglas Haig Road, Norwich, Norfolk NR5 8LD3
£270K06/230.37 mi6, Hemlin Close, Norwich, Norfolk NR5 8JB3
£340K02/250.41 mi102, The Avenues, Norwich NR4 7DP3
£340K02/250.41 mi102, The Avenues, Norwich NR4 7DP3
£282.5K06/210.41 mi23, Pitchford Road, Norwich, Norfolk NR5 8LQ3
£357.5K01/240.41 mi106, The Avenues, Norwich, Norfolk NR4 7DP3
£280K03/240.41 mi134, The Avenues, Norwich, Norfolk NR4 7DP3
£295K02/230.42 mi89, Friends Road, Norwich, Norfolk NR5 8HP3
£295K04/230.42 mi77, Friends Road, Norwich, Norfolk NR5 8HP3
£279K11/240.43 mi37, Cunningham Road, Norwich, Norfolk NR5 8HH3
£198.3K10/220.43 mi84, Motum Road, Norwich, Norfolk NR5 8EQ3
£221K02/240.43 mi31, Ranworth Road, Norwich, Norfolk NR5 8EB3
£270K03/240.45 mi4, Farrow Road, Norwich NR5 8AH3
£305K09/230.46 mi162, Bluebell Road, Norwich, Norfolk NR4 7LN3
£343K11/210.48 mi72, The Avenues, Norwich, Norfolk NR4 7HZ3
£265K09/220.48 mi109, The Avenues, Norwich, Norfolk NR4 7HZ3
£265K08/240.49 mi8, Elizabeth Fry Road, Norwich NR2 3QL3
£250K07/230.51 mi31, Enfield Road, Norwich, Norfolk NR5 8LF3
£462K09/240.52 mi264, Earlham Road, Norwich NR2 3RH3
£270K12/230.52 mi2, Tollhouse Road, Norwich, Norfolk NR5 8QF3
£220K07/230.52 mi4, Tollhouse Road, Norwich, Norfolk NR5 8QF3
£415K12/230.53 mi16, Hadley Drive, Norwich, Norfolk NR2 3RT3
£260K06/210.53 mi20, Rydal Close, Norwich, Norfolk NR5 8LT3
£265K12/220.54 mi406, Dereham Road, Norwich, Norfolk NR5 8QG3
£475K10/240.54 mi365, Earlham Road, Norwich NR2 3RQ3
£394K06/250.54 mi11, Hadley Drive, Norwich NR2 3RT3
£394K06/250.54 mi11, Hadley Drive, Norwich NR2 3RT3
£370K01/240.55 mi20, Corie Road, Norwich NR4 7JB3
£345K03/250.57 mi378c, Dereham Road, Norwich NR5 8QE3
£345K03/250.57 mi378c, Dereham Road, Norwich NR5 8QE3
£405K03/250.57 mi19, Corie Road, Norwich NR4 7JB3
£405K03/250.57 mi19, Corie Road, Norwich NR4 7JB3
£284K03/250.58 mi8, Ripley Close, Norwich NR2 3QZ3

Local Area Statistics

Population in NR5

28,823

Population in Norwich

366,887

Town centre distance

1.93 miles away

Nearest school

0.10 miles away

Nearest train station

2.44 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-29%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £240,000

December 26, 2024

Floor Plans

Property image

Description

  • Guide Price £240,000 - £250,000 +
  • 3 Bedroom Mid Terrace House +
  • 13ft Dual Aspect Lounge/Diner +
  • Kitchen & Downstairs Bathroom +
  • 3 Double Bedrooms Off Landing +
  • Double Glazed With Gas Central Heating +
  • Off Road Parking To Drive +
  • Established Garden With Summer House +
  • Superb Student Let HMO Opportunity +
  • Close To University & Norwich Hospital +

Located within striking distance of the University Of East Anglia and the Norfolk and Norwich Hospital stands this three-bedroom mid terrace house. This property is ideal for any growing family or would make a lucrative HMO investment purchase.

The accommodation on offer includes a lounge 13ft dual aspect lounge/diner, a 13ft kitchen and a bathroom to the ground floor. Upstairs you will find three good sized bedrooms off landing. The property also benefits from double glazing and gas central heating.

Outside, to the front of the property is a brick weave drive with off road parking. To the rear is a large and fully established garden with a variety of plants, shrubs and mature trees. There is also a substantial summer house which is complete with power and light as well as internet connection. In addition, there is above ground swimming pool which has been lovingly transformed into a unique natural fishpond.

With a realistic guide price, and with properties in this location in constant demand, we expect lots of interest. Please call Winkworth now to arrange a viewing.

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

Winkworth wishes to inform prospective buyers and tenants that these particulars are a guide and act as information only. All our details are given in good faith and believed to be correct at the time of printing but they don’t form part of an offer or contract. No Winkworth employee has authority to make or give any representation or warranty in relation to this property. All fixtures and fittings, whether fitted or not are deemed removable by the vendor unless stated otherwise and room sizes are measured between internal wall surfaces, including furnishings. The services, systems and appliances have not been tested, and no guarantee as to their operability or efficiency can be given.

Agent Details

Winkworth, Hellesdon

01603 361844

Next Steps?

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