2 Bed Terraced House, Single Let, Norwich, NR3 4TT, £165,000

1 Silver Street, Norwich, NR3 4TT - 22 days ago

Auction
BTL
ROI: 2%
162 m²
+12 photos

ValuationUndervalued

Sold Prices£163K - £305K
Sold Prices/m²£2.4K/m² - £4.1K/m²

 

 

Square Metres

162 m²
Price/m²£1K/m²

Value Estimate

£237,500
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£41,250

Stamp Duty & Legal Fees

£10,700

Total Cash In

£51,950

 

 

Cash Out

 

Rent Range

£825 - £1,300

Rent Estimate

£890

Running Costs/mo

£714

Cashflow/mo

£176

Cashflow/yr

£2,117

ROI

4%

Gross Yield

6%

Local Sold Prices

50 sold prices from £163K to £305K, average is £210K. £2.4K/m² to £4.1K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£190.3K06/230.03 mi77, Bull Close Road, Norwich, Norfolk NR3 1NQ2
£240K10/220.03 mi82, Bull Close Road, Norwich, Norfolk NR3 1NQ2
£216K03/230.06 mi7, Spencer Street, Norwich, Norfolk NR3 4PA2
£185K02/210.06 mi78, Wodehouse Street, Norwich, Norfolk NR3 4TZ2
£189K02/210.07 mi7, Spencer Street, Norwich, Norfolk NR3 4PA2
£230K12/200.07 mi47, Wodehouse Street, Norwich, Norfolk NR3 4TY2
£235K05/230.08 mi76, Marlborough Road, Norwich, Norfolk NR3 4PJ2
£163K03/210.08 mi76, Marlborough Road, Norwich, Norfolk NR3 4PJ2
£253K10/230.08 mi162, Marlborough Road, Norwich, Norfolk NR3 4PJ2
£219K10/230.1 mi121, Marlborough Road, Norwich, Norfolk NR3 4PL2
£210K11/200.1 mi87, Marlborough Road, Norwich, Norfolk NR3 4PL2
£240K12/220.1 mi103, Marlborough Road, Norwich, Norfolk NR3 4PL2
£200K05/230.11 mi40, Silver Road, Norwich, Norfolk NR3 4TB2
£191K11/220.12 mi36, Cowgate, Norwich, Norfolk NR3 1SY2
£265K01/230.12 mi23, Cowgate, Norwich, Norfolk NR3 1SZ2
£192.5K02/210.13 mi162, Marlborough Road, Norwich, Norfolk NR3 4PJ2
£230K08/230.13 mi176, Beaconsfield Road, Norwich, Norfolk NR3 4PP2
£225K01/210.13 mi80, Beaconsfield Road, Norwich, Norfolk NR3 4PP2
£180K12/200.13 mi17, Willis Street, Norwich, Norfolk NR3 1SW2
£196K06/210.13 mi9, Willis Street, Norwich, Norfolk NR3 1SW2
£195K07/210.14 mi97, Beaconsfield Road, Norwich, Norfolk NR3 4AB2
£240K10/230.14 mi129, Beaconsfield Road, Norwich, Norfolk NR3 4AB2
£206.5K09/210.14 mi105, Beaconsfield Road, Norwich, Norfolk NR3 4AB2
£220K12/200.14 mi127, Beaconsfield Road, Norwich, Norfolk NR3 4AB2
£168K07/230.15 mi30, Beaconsfield Road, Norwich, Norfolk NR3 4PW2
£195K01/230.15 mi11, St Pauls Square, Norwich, Norfolk NR3 1SN2
£206.5K12/230.16 mi26, Morley Street, Norwich, Norfolk NR3 1ND2
£168K12/200.16 mi69, Peacock Street, Norwich, Norfolk NR3 1TB2
£248K12/210.16 mi61, Beaconsfield Road, Norwich, Norfolk NR3 4PN2
£245K02/240.16 mi5, Beaconsfield Road, Norwich, Norfolk NR3 4PN2
£210K07/210.17 mi155, Knowsley Road, Norwich, Norfolk NR3 4PT2
£201K04/210.17 mi123, Knowsley Road, Norwich, Norfolk NR3 4PT2
£192K01/210.18 mi57, Knowsley Road, Norwich, Norfolk NR3 4PR2
£237.6K01/230.18 mi45, Knowsley Road, Norwich, Norfolk NR3 4PR2
£203.5K11/200.19 mi58, Knowsley Road, Norwich, Norfolk NR3 4PS2
£232K06/230.19 mi6, Knowsley Road, Norwich, Norfolk NR3 4PS2
£249.5K06/230.19 mi56, Knowsley Road, Norwich, Norfolk NR3 4PS2
£183.5K11/210.19 mi96, Spencer Street, Norwich, Norfolk NR3 4PE2
£190K12/200.2 mi32, Magdalen Road, Norwich, Norfolk NR3 4AF2
£305K09/230.2 mi32, Magdalen Road, Norwich, Norfolk NR3 4AF2
£235K12/210.21 mi122, Churchill Road, Norwich, Norfolk NR3 4PZ2
£200K01/210.21 mi105, Churchill Road, Norwich, Norfolk NR3 4PZ2
£250K03/240.23 mi6, Churchill Road, Norwich, Norfolk NR3 4PY2
£225K02/240.23 mi44, Churchill Road, Norwich, Norfolk NR3 4PY2
£205K12/230.23 mi14, Churchill Road, Norwich, Norfolk NR3 4PY2
£204.1K03/210.23 mi48, Churchill Road, Norwich, Norfolk NR3 4PY2
£215K02/240.23 mi58, Churchill Road, Norwich, Norfolk NR3 4PY2
£230K08/230.23 mi107, Spencer Street, Norwich, Norfolk NR3 4PF2
£245K04/230.23 mi118, Spencer Street, Norwich, Norfolk NR3 4PF2
£207.5K12/200.24 mi114, Spencer Street, Norwich, Norfolk NR3 4PF2

Local Rents

48 rents from £825/mo to £1.3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,10007/240.06 miWodehouse Street, Norwich, Norfolk, NR32
£87507/240.06 miWodehouse Street, Norwich, NR32
£1,15006/240.07 miSilver Street, NR32
£95006/240.07 miSilver Street, Norwich, NR32
£1,15008/240.07 miSilver Street, Norwich2
£1,15009/240.07 miSilver Street, Norwich2
£90006/240.07 miBull Close Road, NORWICH2
£1,20007/240.08 miBull Close, NORWICH2
£82506/240.09 miYarn Mews, Norwich2
£1,10008/240.11 miMarlborough Road, Norwich, Norfolk, NR32
£1,30006/240.12 miSt James Quay, Norwich, NR32
£95001/250.12 mi-2
£99506/240.12 miSilver Road, Norwich, Norfolk, NR32
£1,29507/240.12 mi-2
£1,29405/240.12 mi-2
£1,29403/250.12 mi-2
£1,30006/240.12 miCowgate, Norwich, NR32
£1,25012/240.13 mi-2
£1,05006/240.13 miWillis Street, Norwich2
£95008/240.13 miWillis Street, NORWICH2
£99506/240.14 mi-2
£95008/240.14 miSilver Road, Norwich, Norfolk, NR32
£95006/240.14 miCross Keys Yard2
£95007/240.14 miCross Keys Yard2
£1,15007/240.15 miBeaconsfield Road, NR32
£1,20006/240.15 miMagdalen Street, Norwich2
£1,05006/240.16 miMorley Street, Norwich2
£1,05006/240.16 miPeacock Street, Norwich, Norfolk, NR32
£1,10006/240.16 miNorwich, NR32
£90009/240.17 miMagpie Road2
£1,20008/240.17 miBeaconsfield Road2
£89506/240.17 miNorth City2
£99506/240.17 miKnowsley Road, Norwich2
£1,10001/250.18 mi-2
£1,25006/240.18 miTypesetters Way, NR32
£99507/240.19 miMagpie Road, Norwich2
£1,25006/240.2 miMagdalen Road, Norwich, 2
£1,30006/240.2 miTypesetters Way, Printworks Drive, Norwich2
£92506/240.2 miEdward Street, Norwich2
£1,30006/240.21 miTypsetters Way, NR3 1FJ2
£95008/240.21 miDalymond Court, NR3 3FH2
£97508/240.21 miDalymond Court, Norwich, NR3 3FH2
£1,15007/240.22 miChurchill Road, Norwich2
£1,05007/240.23 miSpencer Street, Norwich, NR32
£89506/240.23 miGuernsey Road, Norwich2
£1,00008/240.24 miSpencer Street, Norwich, Norfolk, NR32
£1,25008/240.24 miSt. Olaves Road, Norwich, NR32
£1,00006/240.25 miClarke Road, Norwich, NR32

Local Area Statistics

Population in NR3

32,672

Population in Norwich

366,887

Town centre distance

0.35 miles away

Nearest school

0.10 miles away

Nearest train station

0.83 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+16%

Sales demand

Seller's market

Capital growth (5yrs)

+28%

Property History

Price changed to £165,000

March 20, 2025

Listed for £190,000

February 28, 2025

Floor Plans

Description

  • Sale by Modern Auction (T&Cs apply) +

  • Subject to an undisclosed Reserve Price +

  • Buyers fees apply +

  • Impressive traditional two bedroom Victorian terrace property +

  • Unique selling point off-road parking to the rear +

  • Non-bisected rear garden +

  • Twin reception rooms +

  • NO ONWARD CHAIN +

SUMMARY
THIS TWO BEDROOM VICTORIAN TERRACE PROPERTY is situated in the highly popular NR3 postcode of Norwich. The property would be a fantastic first time buy, buy to let investment or downsize purchase and is being sold with the added benefit of NO ONWARD CHAIN! Viewings are highly recommended!!

DESCRIPTION
Located in this sought after one way street, very close to Norwich city centre you will find THIS TWO BEDROOM VICTORIAN TERRACE PROPERTY situated in Norwich's most up & coming postcode of NR3. The property is being sold with the added benefit of NO ONWARD CHAIN and boasts a unique and highly salable attribute of driveway/ off-road parking to the rear, a non bisected rear garden access via Nightingale Lane. Further features to include twin reception, two double bedrooms, ensuite bathroom, ground floor cloakroom and an oversized 13 ft kitchen, with gas fired heating throughout. The property would be ideal for a buy to let, first time purchase or downsize.

The property must be viewed to be fully appreciated!!

Auctioneer's Comments 
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded. The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer. The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

Lounge 11' 4" x 11' 1" ( 3.45m x 3.38m )
UPVC bay window to front aspect, original ceiling rose, original coving and radiator.

Dining Room 11' 7" x 10' 5" ( 3.53m x 3.17m )
Stairs to first floor.

Kitchen 13' 8" x 6' 3" ( 4.17m x 1.91m )
Range of eye & base level kitchen units, work surfaces, breakfast bar, electric hob, electric oven, stainless steel sink unit, plumbing for washing machine, plumbing for dishwasher, space for tumble dryer, gas fired boiler for heating & hot water and window to side.

Cloakroom 
Wash hand basin, wc, window to side aspect and door to rear garden.

First Floor Landing 

Bedroom One 11' 8" x 10' 6" ( 3.56m x 3.20m )
Window to rear aspect and door to ensuite:-

Ensuite 
Paneled bath with electric shower over, wash hand basin, wc, radiator and tiled splashbacks.

Bedroom Two 11' 1" x 11' 2" ( 3.38m x 3.40m )
Window to front aspect and cupboard with access to roof space.

Exterior 
The property has a small enclosed front garden with permit on street parking.

To the rear, there is a non-bisected garden enclosed by fence and gated rear access providing off-road parking.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

William H. Brown, Norwich

01603 361933

Next Steps?

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