2 Bed Terraced House, Single Let, Norwich, NR1 3JZ, £145,000

3 Palmers Yard, Timberhill, Norwich, Norfolk, NR1 3JZ - 3 views - a month ago

Sold STC
Auction
BTL
ROI: 8%
80 m²
+6 photos

ValuationUndervalued

Sold Prices£138K - £540K
Sold Prices/m²£2.4K/m² - £4.5K/m²

 

 

Square Metres

80 m²
Price/m²£1.8K/m²

Value Estimate

£178,350
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£36,250

Stamp Duty & Legal Fees

£5,550

Total Cash In

£41,800

 

 

Cash Out

 

Rent Range

£925 - £2,500

Rent Estimate

£950

Running Costs/mo

£663

Cashflow/mo

£287

Cashflow/yr

£3,443

ROI

8%

Gross Yield

8%

Local Sold Prices

50 sold prices from £138K to £540K, average is £240K. £2.4K/m² to £4.5K/m², average is £3.3K/m².

PriceDateDistanceAddressBeds 
£310K10/220.35 mi6, Mariners Lane, Norwich, Norfolk NR1 3AF2
£158.5K01/230.35 mi21, Mariners Lane, Norwich, Norfolk NR1 3AF2
£245K06/210.36 mi3, Kingsgate Court, Norwich, Norfolk NR2 1TS2
£292.5K02/210.4 mi1a, Wood Street, Norwich, Norfolk NR1 3RD2
£236K03/210.43 mi121, Southwell Road, Norwich, Norfolk NR1 3RS2
£314K06/210.44 mi42, Grove Road, Norwich, Norfolk NR1 3RH2
£320K07/230.44 mi2, Grove Road, Norwich, Norfolk NR1 3RH2
£160K02/210.44 mi226, Queens Road, Norwich, Norfolk NR1 3HG2
£205K04/240.46 mi22, Rowington Road, Norwich, Norfolk NR1 3RR2
£229K05/210.49 mi22, Bracondale, Norwich, Norfolk NR1 2AF2
£260K07/230.51 mi23, Calvert Street, Norwich, Norfolk NR3 1BY2
£540K06/230.51 mi6, Old Millers Wharf, Norwich, Norfolk NR3 1GS2
£213.5K01/210.52 mi6, Bracondale Green, Norwich, Norfolk NR1 2AG2
£205K03/210.52 mi252, King Street, Norwich, Norfolk NR1 2BU2
£300K03/210.53 mi13, Trory Street, Norwich, Norfolk NR2 2RH2
£225K07/210.54 mi20, Doman Road, Norwich, Norfolk NR1 3AW2
£370.3K01/240.55 mi22, Ampthill Street, Norwich, Norfolk NR2 2RG2
£208K07/240.55 mi6, Stuart Road, Norwich, Norfolk NR1 2BY2
£270K11/230.55 mi6, Bellville Crescent, Norwich, Norfolk NR1 3AR2
£250K01/210.55 mi6, Bellville Crescent, Norwich, Norfolk NR1 3AR2
£250K12/200.56 mi4, Launceston Terrace, Norwich, Norfolk NR2 2HJ2
£250K05/210.56 mi64, Trinity Street, Norwich, Norfolk NR2 2BH2
£247K12/220.56 mi39, Trinity Street, Norwich, Norfolk NR2 2BH2
£138K11/230.58 mi6, Alan Road, Norwich, Norfolk NR1 2BX2
£350K06/210.58 mi80, Cambridge Street, Norwich, Norfolk NR2 2BE2
£220K11/200.58 mi68, Rosary Road, Norwich, Norfolk NR1 1TQ2
£240K09/210.59 mi113, Cambridge Street, Norwich, Norfolk NR2 2BD2
£257.3K12/210.59 mi99, Cambridge Street, Norwich, Norfolk NR2 2BD2
£240.5K12/200.59 mi109, Cambridge Street, Norwich, Norfolk NR2 2BD2
£240.6K11/210.59 mi3, Cyprus Street, Norwich, Norfolk NR1 3AX2
£230K12/200.59 mi35, Cyprus Street, Norwich, Norfolk NR1 3AX2
£222.5K02/230.59 mi31, Cyprus Street, Norwich, Norfolk NR1 3AX2
£256K11/230.59 mi30, Cyprus Street, Norwich, Norfolk NR1 3AX2
£340K12/220.6 mi14, Beaumont Place, Norwich, Norfolk NR2 2HH2
£339K12/230.61 mi11, Newmarket Road, Norwich, Norfolk NR2 2HL2
£320K07/230.61 mi15, Newmarket Road, Norwich, Norfolk NR2 2HL2
£223K04/210.61 mi96, York Street, Norwich, Norfolk NR2 2AP2
£230K04/210.61 mi110, York Street, Norwich, Norfolk NR2 2AP2
£252K07/210.62 mi56, Hughenden Road, Norwich, Norfolk NR1 2PX2
£240K06/240.62 mi47, Riverside Road, Norwich, Norfolk NR1 1SR2
£194.5K06/230.62 mi56, Riverside Road, Norwich, Norfolk NR1 1SR2
£212K08/210.62 mi4, Carlyle Road, Norwich, Norfolk NR1 3AB2
£300K11/230.62 mi37, Carlyle Road, Norwich, Norfolk NR1 3AB2
£190K11/200.62 mi48, Carlyle Road, Norwich, Norfolk NR1 3AB2
£225K11/210.62 mi47, Carlyle Road, Norwich, Norfolk NR1 3AB2
£185K06/210.62 mi46, Carlyle Road, Norwich, Norfolk NR1 3AB2
£195K12/220.62 mi20, Carlyle Road, Norwich, Norfolk NR1 3AB2
£240K11/230.62 mi35, Carlyle Road, Norwich, Norfolk NR1 3AB2
£185.1K08/230.62 mi11, Carlyle Road, Norwich, Norfolk NR1 3AB2
£192K02/230.62 mi19, Carlyle Road, Norwich, Norfolk NR1 3AB2

Local Rents

51 rents from £925/mo to £2.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,60003/240.03 miWestlegate, Norwich2
£95006/240.09 miEmms Court, Norwich2
£1,25006/240.11 miSt Peters House, Cattlemarket Street, Norwich2
£1,25012/240.12 miCattle Market Street, NORWICH2
£1,20012/240.12 mi23 Cattle Market Street, NORWICH2
£1,40003/240.12 miCastle Meadow, Norwich, NR22
£1,40006/240.13 miCastle House, Castle Meadow2
£95006/240.13 miRouen Road, Norwich, Norfolk, NR12
£95006/240.13 miRouen Road, Norwich, Norfolk, NR12
£1,45012/240.16 mi-2
£1,05006/240.16 miScoles Green, Norwich2
£1,50006/240.16 miShibleys Court, Norwich, Norfolk2
£1,55012/240.17 mi-2
£1,65012/240.18 miCastle Meadow, Norwich2
£1,20011/240.18 mi-2
£1,40002/250.19 mi-2
£1,35006/240.21 miSurrey Street, NORWICH2
£1,30012/240.21 miSurrey Street, NORWICH2
£1,25012/240.21 miSentinel House, Norwich, NR12
£2,50012/240.21 mi-2
£1,60003/250.21 mi-2
£1,10006/240.22 miSurrey Street, Norwich2
£1,30012/240.22 miNorwich, NR12
£97506/240.22 miHardwick House, NR1 1DB2
£1,25012/240.22 miSurrey Street, Norwich2
£1,35006/240.22 miSentinel House, Norwich, NR12
£1,20012/240.22 miSentinel House, Surrey Street, Norwich2
£1,35002/240.22 mi-2
£1,35006/240.22 mi-2
£1,30012/240.22 mi-2
£1,35012/240.22 mi-2
£1,35012/240.22 mi-2
£1,25012/240.23 miKing Street, Norwich2
£1,27512/240.23 mi-2
£1,00006/240.23 mi2 bedroom property in Surrey Street, Norwich2
£1,10012/240.23 miChapelfield Gardens, Norwich2
£1,00006/240.24 miSurrey Street, NORWICH2
£1,10006/240.24 miSurrey Street, NORWICH2
£1,10006/240.24 mi2 bedroom property in Surrey Street, Norwich2
£1,00006/240.24 miSentinel House, Surrey Street, NORWICH2
£1,35006/240.24 miSurrey Street, Norwich, Norfolk, NR12
£95006/240.24 miTudor Hall, Norwich2
£1,35012/240.25 miKing Street, Norwich2
£1,99506/240.25 miGreyfriars Road, Norwich, 2
£1,50006/240.25 miGreyfriars Road, Norwich, NR12
£1,50006/240.25 mi-2
£1,35006/240.25 miSurrey Street, Norwich2
£92506/240.26 miGreyfriars Road, Norwich, Norfolk, NR12
£99506/240.26 miGreyfriars Road, Norwich, Norfolk, NR12
£1,35012/240.26 mi-2
£1,60012/240.26 mi-2

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

0.95 miles away

Nearest school

0.10 miles away

Nearest train station

0.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £145,000

February 11, 2025

Floor Plans

Description

Guide Price= **£145,000 - £165,000 plus fees

For Sale By Unconditional Online Auction - Auction Ends 19/03/2025 11:00

**Description
A mid-terraced house with accommodation including entrance hall, kitchen/breakfast room and sitting room on the ground floor, together with landing, two bedrooms and bathroom on the first floor.

The property is approached via a shared courtyard area from Timberhill and includes a sunken garden. The property has been let under the terms of an assured shorthold tenancy for many years but is now vacant.

Solicitor: Sprake & Kingsley (Attn John Williams), 16 Broad Street, Bungay, NR35 1EN. Tel

Location
Situated off Timberhill in the centre of Norwich, being located amongst retail shops and close to the Castle Mall Shopping Complex. The property is accessed via a passageway from Timberhill.

Directions
Approached from either end of Timberhill on foot and also from Castle Mall car park directly onto Grouts Thoroughfare and Timberhill. Access to the property is via a passageway to the rear of 17 Timberhill.

Notes
Buyer Fees: Please note that the successful bidder will be required to pay an Administration Charge of £1,170 inclusive of VAT. This fee is due and payable from the winning bidder immediately after the timed auction ends. The successful bidder will additionally pay over to the auctioneer a deposit of 10% of the purchase price, subject to a minimum of £5,000, after the timed auction ends. All payments to be made by debit card payment or electronic bank transfer to the Brown&Co Client Account, the details of which will be provided by the auctioneer to the successful bidder shortly after the auction ends. Other fees may be payable on completion and will be detailed within the Special Conditions of Sale to be found within the published Auction Pack.

Ability to Buy: This property is being sold under Unconditional Auction Rules creating a legally binding contract at the conclusion of the timed auction. DO NOT bid unless you can complete the sale within 28 days, or on the terms specified within the Special Conditions of Sale.

If you REQUIRE A MORTGAGE for this purchase, we strongly recommend that you receive your mortgage offer before you bid. An Agreement in Principle (AIP) is not enough due to the fact that if you are the successful bidder and wait to secure funding after the auction and if your lender will not lend on the property (for whatever reason) and you fail to complete, you will lose your deposit and any associated costs.

Help and Assistance: If you have any questions or require any clarification as to the online auction process please contact the auctioneer prior to commencement of the bidding window as we will be unable to enter into any discussions once the auction has started.

Bidding Process: Prior to bidding the bidder will complete a Passport-to-Bid process, which requires registration, verification and agreement to Buyers Terms.

How To Follow the Auction: Use 'Watch' button to follow the auction. If you register to Watch an auction you will receive email notifications of any bidding activity on the specific lot.

How It Works: Unconditional Timed Auction Online: This is a binding method of sale similar to a traditional public property auction. The only difference is the bidding takes place online. The successful purchaser will be required to pay a 10% deposit (subject to a minimum payment of £5,000) on the fall of the virtual gavel and contracts will be exchanged. Bidding for properties online works in a similar fashion to eBay. You can place bids using your PC, tablet or mobile phone and the minimum amount you can bid is defined by the 'bid increment' level. When you place a bid, the property listing page will show you if your bid was successful and whether or not you are the highest bidder. When you are the highest bidder on a property, if another bidder outbids you the system will notify you by email so that you can place another bid if you wish. The major difference from eBay is that our system eradicates sudden death 'bid sniping' through the use of auction 'extension times'. If you have any questions or require any clarification please contact the auctioneer.

Agents Notes: (1) All measurements are approximate and quoted for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied upon. (2) Any fixtures, fittings and appliances referred within these published details have not been tested and therefore no guarantee can be given that they are in working order. (3) Internal photographs are reproduced for general information and it is not inferred that any item shown within any picture is included with the property. (4) Photographs shown within these details may have been taken with a camera using a wide-angle lens. (5) These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. (6) In accordance with UK Anti Money Laundering Regulations Intending buyers will be asked to produce original Identity Documentation, Proof of Address and be subjected to an electronic ID verification check before a purchase conveyance is instructed. (7) Brown&Co comply with the General Data Protection Regulation (EU) 2016/679 (GDPR") please visit our website for our Privacy Statement, Subject Access Requests can be submitted to . (8) Brown&Co are regulated under the RICS code of conduct. (9) Brown&Co are a member of The Property Redress Scheme, Membership Number: PRS012758 (10) Brown&Co is a member of RICS Client Money Protection Scheme, RICS Firm Reference: 016189 (11) Brown&Co-Property And Business Consultants LLP trading as Brown&Co Registered Company Number OC302092. (11) Registered Office Address The Atrium, St George's Street, Norwich, Norfolk, NR3 1AB

Agent Details

Brown & Co Online Auctions, Norwich

01603 361855

Next Steps?

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