5 Bed HMO, Norwich, NR4 7BP, £425,000

Peckover Road, Norwich, NR4 7BP - 2 months ago

Leasehold
HMO
~178 m²
+14 photos

ValuationUndervalued

Sold Prices£245K - £2.0M
Sold Prices/m²£2.6K/m² - £7K/m²

 

 

Square Metres

~178.28 m²
Price/m²£2.4K/m²

Value Estimate

£527,000
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£106,250

Stamp Duty & Legal Fees

£22,700

Total Cash In

£128,950

 

 

Cash Out

 

Room Rate

£375

Gross Rent

£1,875

Running Costs/mo

£2,318

Cashflow/mo

£-443

Cashflow/yr

£-5,321

Gross Yield

5%

Local Sold Prices

33 sold prices from £245K to £2.0M, average is £695K. £2.6K/m² to £7K/m², average is £3.6K/m².

PriceDateDistanceAddressBeds 
£370K02/230.13 mi37, Leng Crescent, Norwich, Norfolk NR4 7NY5
£695K11/230.27 mi470, Unthank Road, Norwich, Norfolk NR4 7QJ5
£955K12/200.31 mi1, Judges Drive, Norwich, Norfolk NR4 7QQ5
£880K12/220.32 mi15, Poplar Avenue, Norwich, Norfolk NR4 7LB5
£825K08/230.38 mi426, Unthank Road, Norwich, Norfolk NR4 7QH5
£1.1M08/240.38 mi187, Newmarket Road, Norwich, Norfolk NR4 6AP5
£350K06/210.44 mi42, Sotherton Road, Norwich, Norfolk NR4 7DB5
£246K06/210.51 mi158, Northfields, Norwich, Norfolk NR4 7EX5
£245K11/230.51 mi186, Northfields, Norwich, Norfolk NR4 7EX5
£740K03/230.51 mi17, Judges Walk, Norwich, Norfolk NR4 7QF5
£985K02/230.52 mi381, Unthank Road, Norwich, Norfolk NR4 7QG5
£950K02/210.66 mi13, Colney Lane, Cringleford, Norwich, Norfolk NR4 7RE5
£580K12/220.75 mi18, Jessopp Road, Norwich, Norfolk NR2 3QA5
£1.1M06/210.75 mi83, Church Lane, Eaton, Norwich, Norfolk NR4 6NY5
£420K07/210.77 mi5, Salter Avenue, Norwich, Norfolk NR4 7LX5
£672K05/240.81 mi40, Mile End Road, Norwich, Norfolk NR4 7QX5
£1.0M03/230.81 mi19, Mile End Road, Norwich, Norfolk NR4 7QX5
£350K12/200.82 mi12, Jasmine Close, Norwich, Norfolk NR4 7NE5
£605K11/220.84 mi6, St Peters Close, Norwich, Norfolk NR4 6UL5
£715K03/230.88 mi36, Mile End Road, Norwich, Norfolk NR4 7QY5
£555K11/210.88 mi20, Mile End Road, Norwich, Norfolk NR4 7QY5
£532K03/210.88 mi14, Mile End Road, Norwich, Norfolk NR4 7QY5
£1.1M10/220.88 mi54, Branksome Road, Norwich, Norfolk NR4 6SW5
£1.4M05/210.89 mi111, Newmarket Road, Norwich, Norfolk NR2 2HT5
£725K08/220.91 mi88, Christchurch Road, Norwich, Norfolk NR2 3NG5
£677.3K06/210.94 mi119, Christchurch Road, Norwich, Norfolk NR2 3PG5
£790K05/230.94 mi117, Christchurch Road, Norwich, Norfolk NR2 3PG5
£580K10/200.95 mi530, Earlham Road, Norwich, Norfolk NR4 7TF5
£595K01/210.95 mi4, Keswick Close, Norwich, Norfolk NR4 6UW5
£2.0M05/220.96 mi20, Christchurch Road, Norwich, Norfolk NR2 2AE5
£658K06/210.96 mi53, The Avenues, Norwich, Norfolk NR2 3QR5
£580.5K03/230.97 mi501, Earlham Road, Norwich, Norfolk NR4 7HN5
£785K06/211 mi4, Statham Close, Norwich, Norfolk NR4 6PT5

Local Area Statistics

Population in NR4

22,331

Population in Norwich

366,887

Town centre distance

2.43 miles away

Nearest school

0.30 miles away

Nearest train station

2.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-15%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Listed for £425,000

February 17, 2025

Floor Plans

Description

  • Five generously sized double bedrooms +
  • 7.7% yield providing strong rental returns +
  • Fully licensed HMO, ideal for student living +
  • Proximity to University of East Anglia and Norfolk and Norwich University Hospital +
  • Modern kitchen fully equipped for daily use +
  • Excellent transport links to Norwich city centre +
  • Two bathrooms ensuring convenience for multiple residents +
  • Enclosed rear garden offering a private outdoor space +
  • Front parking area accommodating tenants with vehicles +

This impressive five-bedroom property, located in the highly desirable NR4 postcode, offers a remarkable 7.7% yield, making it an outstanding investment opportunity, particularly for a fully licensed HMO. Its prime location near the University of East Anglia (UEA) and the Norfolk and Norwich University Hospital (NNUH) guarantees strong, consistent rental demand. The spacious layout provides ample living areas, while the proximity to local amenities and transport links ensures convenience for tenants. With its excellent investment potential, this property offers both immediate returns and long-term value. The Location Peckover Road in Norwich is situated in a well-established residential area on the city’s southern edge. This location is conveniently positioned close to local amenities, including a range of shops, schools, and recreational facilities. The road benefits from excellent transport links, with regular bus services providing easy access to Norwich city centre, which is approximately 3 miles away. Nearby, the University of East Anglia and the Norfolk and Norwich University Hospital are within a short distance, making it a desirable location for students and healthcare professionals. The area is also known for its green spaces, with several parks and nature reserves in the vicinity, offering opportunities for outdoor activities and leisure. Peckover Road This modern five-bedroom property is a standout investment, offering an impressive 7.77% yield, which makes it an excellent choice for anyone looking for strong returns. Perfectly suited for student living, the property has a proven track record with successful rentals, ensuring the potential for continued high-demand occupancy. The home features five spacious double bedrooms, each thoughtfully designed to offer comfort and ample space, accommodating a range of living arrangements for its residents. The contemporary kitchen, which is only one year old, is equipped with all the essentials for day-to-day living. It’s a space that makes cooking and socialising easy, while two bathrooms provide added convenience, reducing the wait time for tenants and offering greater comfort for everyone. Outside, the property boasts an enclosed rear garden, a private space that provides the perfect setting for relaxation or social gatherings, offering students a quiet setting after a busy day. The front parking area adds another layer of appeal, offering a secure place for tenants with vehicles. Fully licensed as an HMO and with a boiler installed in 2018, this property represents a solid investment opportunity with strong student let potential. Its adaptable design ensures it can comfortably accommodate groups, all while maintaining modern living standards. The successful rental history, coupled with these thoughtful updates, ensures that this property remains a top choice for those looking to invest in student housing with a high return on investment. Agents Note Sold Freehold Connected to all mains services

EPC Rating: C 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?

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