3 Bed Semi-Detached House, Refurb/BRRR, Norwich, NR1 4LN, £250,000

Knox Close, Norwich, NR1 4LN - 1 views - 3 months ago

Sold STC
Leasehold
Refurb/BRRR
Planning
~93 m²
+11 photos

ValuationOvervalued

Sold Prices£175K - £380K
Sold Prices/m²£1.8K/m² - £4.3K/m²

 

 

Square Metres

~93 m²
Price/m²£2.7K/m²

Value Estimate

£242,400

 

 

End Value (After Refurb)

£277,852

Uplift in Value

+16%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,400

Refurb Costs

£41,983

Bridging Loan Interest

£6,563

Total Cash In

£121,195

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£277,852

Mortgage (After Refinance)

£208,389

Mortgage LTV

75%

Cash Released

£20,889

Cash Left In

£100,306

Equity

£69,463

Rent Range

£995 - £1,295

Rent Estimate

£1,123

Running Costs/mo

£1,113

Cashflow/mo

£10

Cashflow/yr

£121

ROI

0%

Gross Yield

5%

Local Sold Prices

49 sold prices from £175K to £380K, average is £253.7K. £1.8K/m² to £4.3K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£340K12/220.02 mi9a, Knox Close, Norwich, Norfolk NR1 4LN3
£380K10/220.03 mi6, Knox Close, Norwich, Norfolk NR1 4LN3
£265K08/230.03 mi1, Knox Close, Norwich, Norfolk NR1 4LN3
£380K01/230.03 mi15, Knox Close, Norwich, Norfolk NR1 4LN3
£240K08/210.04 mi8, Samuel Road, Norwich, Norfolk NR1 4LG3
£265K07/240.04 mi125, Borrowdale Drive, Norwich, Norfolk NR1 4NA3
£300K01/240.09 mi41, Hilary Avenue, Norwich, Norfolk NR1 4LF3
£211K03/210.09 mi1, Hilary Avenue, Norwich, Norfolk NR1 4LF3
£241K11/230.09 mi30, Hilary Avenue, Norwich, Norfolk NR1 4LF3
£225.3K07/230.09 mi28, Hilary Avenue, Norwich, Norfolk NR1 4LF3
£256K10/230.09 mi5, Hilary Avenue, Norwich, Norfolk NR1 4LF3
£265.5K12/230.09 mi3, Hilary Avenue, Norwich, Norfolk NR1 4LF3
£360K12/220.09 mi50, Honey Close, Norwich, Norfolk NR1 4LJ3
£273.7K01/240.09 mi21, Aldryche Road, Norwich, Norfolk NR1 4LE3
£227K11/210.09 mi43, Honey Close, Norwich, Norfolk NR1 4LJ3
£250K09/220.11 mi25, Riseway Close, Norwich, Norfolk NR1 4NJ3
£290K09/220.11 mi8, Mossfield Close, Norwich, Norfolk NR1 4NL3
£240K10/230.11 mi37, The Ridgeway, Norwich, Norfolk NR1 4ND3
£229K05/210.11 mi47, The Ridgeway, Norwich, Norfolk NR1 4ND3
£325K10/230.11 mi42, The Ridgeway, Norwich, Norfolk NR1 4ND3
£263.4K11/220.12 mi32, The Ridgeway, Norwich, Norfolk NR1 4ND3
£250K08/210.12 mi23, Riseway Close, Norwich, Norfolk NR1 4NJ3
£247.5K05/230.14 mi114, Borrowdale Drive, Norwich, Norfolk NR1 4LZ3
£250K05/240.14 mi108, Borrowdale Drive, Norwich, Norfolk NR1 4LZ3
£190.5K12/200.14 mi104, Borrowdale Drive, Norwich, Norfolk NR1 4LZ3
£280K02/230.16 mi13, Gravelfield Close, Norwich, Norfolk NR1 4NH3
£325K03/230.16 mi93, Plumstead Road, Norwich, Norfolk NR1 4JS3
£253.7K09/230.17 mi2, Dugard Avenue, Norwich, Norfolk NR1 4NQ3
£265K05/230.17 mi3, Dugard Avenue, Norwich, Norfolk NR1 4NQ3
£275K08/220.17 mi25, The Ridgeway, Norwich, Norfolk NR1 4ND3
£225K01/230.18 mi129, Plumstead Road, Norwich, Norfolk NR1 4JT3
£255K05/230.18 mi121, Plumstead Road, Norwich, Norfolk NR1 4JT3
£217.5K06/240.19 mi126, Plumstead Road, Norwich, Norfolk NR1 4JX3
£270K11/220.19 mi83, Borrowdale Drive, Norwich, Norfolk NR1 4NS3
£200K03/210.2 mi20, The Ridgeway, Norwich, Norfolk NR1 4NB3
£200K03/210.2 mi20, The Ridgeway, Norwich, Norfolk NR1 4NB3
£180K11/200.2 mi11, The Ridgeway, Norwich, Norfolk NR1 4NB3
£282K08/240.2 mi20, The Ridgeway, Norwich, Norfolk NR1 4NB3
£187K06/210.22 mi120, Vincent Road, Norwich, Norfolk NR1 4HH3
£290K04/230.22 mi96, Vincent Road, Norwich, Norfolk NR1 4HH3
£197.5K02/210.22 mi50, Vincent Road, Norwich, Norfolk NR1 4HH3
£279K05/230.22 mi19, Valley Side Road, Norwich, Norfolk NR1 4LD3
£175K02/210.23 mi1, Womersley Road, Norwich, Norfolk NR1 4QA3
£197K04/230.23 mi5, Womersley Road, Norwich, Norfolk NR1 4QA3
£280K04/210.23 mi134, Plumstead Road, Norwich, Norfolk NR1 4JY3
£242.5K05/210.23 mi140, Plumstead Road, Norwich, Norfolk NR1 4JY3
£283K01/230.24 mi68, Plumstead Road, Norwich, Norfolk NR1 4JU3
£220K06/210.24 mi71, Vincent Road, Norwich, Norfolk NR1 4HQ3
£240K07/230.24 mi41, Vincent Road, Norwich, Norfolk NR1 4HQ3

Local Rents

12 rents from £995/mo to £1.3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,15012/240.08 miHilary Avenue, Norwich, NR13
£1,15006/240.09 miHilary Avenue, Norwich3
£1,05002/240.14 mi-3
£1,00006/240.22 miWormersley Road, Norwich3
£1,20012/240.3 mi-3
£99504/240.31 mi-3
£99512/240.35 miWolfe Road, Norwich, Norfolk, NR13
£1,25012/240.42 mi-3
£1,20006/240.43 mi-3
£1,20006/240.54 miHarvey Lane, NORWICH3
£1,29506/240.55 miMousehold Avenue, Norwich, Norfolk, NR33
£99512/240.56 miAerodrome Crescent, Thorpe St Andrew, NR73

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.19 miles away

Nearest school

0.40 miles away

Nearest train station

0.91 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Price changed to £250,000

January 19, 2025

Listed for £240,000

January 1, 2025

Floor Plans

Description

  • No onward chain! +
  • South-facing garden for sun all day +
  • Close to the city centre, train station & bus station +
  • Refreshed interior throughout +
  • New boiler +
  • Three double bedrooms for those looking to expand the family +
  • Potential to extend subject to planning permission +
  • Generous sized rear garden with paving and lawn +

No onward chain! Tucked away on the outskirts of the city, is this recently renovated semi-detached house offers a fantastic opportunity for those seeking a spacious and comfortable home with ample room to grow. The Location Norwich NR1 is a central area located in the heart of Norwich, Norfolk. It encompasses a mix of residential, commercial, and historic sites. With easy access to the city's vibrant city centre, NR1 offers a blend of modern amenities and historical charm. The area is home to the Norwich railway station, providing excellent transport links for commuters and visitors. NR1 is also close to cultural landmarks such as Norwich Castle and the beautiful Riverside area, offering a wide range of leisure, shopping, and dining options. The proximity to parks and the River Wensum enhances the appeal of this vibrant area. The Property

Upon entry, the refreshed interior greets you with a welcoming ambience, showcasing a modern aesthetic and a neutral colour palette that will suit anyone’s needs. The kitchen cabinets are aplenty; however, you may wish to update these to match the modernisation of the rest of the property. Downstairs is a spacious lounge area and garden room, both versatile spaces for all. This charming residence features three generously sized double bedrooms, perfect for growing families; these bedrooms share the family bathroom, fitted with a three-piece suite.

The rear of the house unveils a generous-sized garden with a well-manicured lawn and paved areas, creating an inviting space for entertaining guests or simply enjoying the sun. As the garden offers plenty of space, there is a potential to extend, subject to planning permission, providing an exciting opportunity to customise this home further to suit individual needs and preferences. Agents Note We understand the property will be sold freehold, connected to all mains services with gas central heating via a newly installed boiler. The contents within this image have been added digitally for illustrative purposes only and do not reflect the current physical state of the property. Disclaimer Minors and Brady, along with their representatives, are not authorized to provide assurances about the property, whether on their own behalf or on behalf of their client. We do not take responsibility for any statements made in these particulars, which do not constitute part of any offer or contract. It is recommended to verify leasehold charges provided by the seller through legal representation. All mentioned areas, measurements, and distances are approximate, and the information provided, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively. It should not be assumed that the property has all necessary planning, building regulations, or other consents. Services, equipment, and facilities have not been tested by Minors and Brady, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.

Agent Details

Minors & Brady, Unthank Road, Norwich

01603 361808

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪