3 Bed Terraced House, Refurb/BRRR, Norwich, NR1 2JZ, £190,000

Birkbeck Road, Lakenham, Norwich, Norfolk, NR1 2JZ - 15 days ago

Refurb/BRRR
ROI: 3%
~93 m²
+7 photos

ValuationUndervalued

Sold Prices£107K - £440K
Sold Prices/m²£1.3K/m² - £5.6K/m²

 

 

Square Metres

~93 m²
Price/m²£2K/m²

Value Estimate

£200,000

 

 

End Value (After Refurb)

£247,271

Uplift in Value

+24%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£47,500

Stamp Duty & Legal Fees

£11,200

Refurb Costs

£41,983

Bridging Loan Interest

£4,988

Total Cash In

£107,420

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£247,271

Mortgage (After Refinance)

£185,453

Mortgage LTV

75%

Cash Released

£42,953

Cash Left In

£64,467

Equity

£61,818

Rent Range

£900 - £1,650

Rent Estimate

£1,300

Running Costs/mo

£1,053

Cashflow/mo

£247

Cashflow/yr

£2,967

ROI

3%

Gross Yield

8%

Local Sold Prices

50 sold prices from £107K to £440K, average is £235.3K. £1.3K/m² to £5.6K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£161.5K07/230.02 mi20, Birkbeck Road, Norwich, Norfolk NR1 2JZ3
£107K01/210.02 mi1, Birkbeck Road, Norwich, Norfolk NR1 2JZ3
£140K10/200.02 mi22, Birkbeck Road, Norwich, Norfolk NR1 2JZ3
£167K11/210.06 mi15, Birkbeck Close, Norwich, Norfolk NR1 2LA3
£160.5K05/210.11 mi17, Long John Hill, Norwich, Norfolk NR1 2EJ3
£240K12/210.11 mi7, Cavell Road, Norwich, Norfolk NR1 2LL3
£172K06/230.11 mi12, Cavell Road, Norwich, Norfolk NR1 2LL3
£233K07/230.11 mi37, Cavell Road, Norwich, Norfolk NR1 2LL3
£245K03/230.12 mi3, Beeching Road, Norwich, Norfolk NR1 2LE3
£212.5K04/230.13 mi37, Long John Hill, Norwich, Norfolk NR1 2JP3
£219.5K12/220.13 mi50, Long John Hill, Norwich, Norfolk NR1 2JN3
£226K03/210.14 mi4, Sunny Hill, Norwich, Norfolk NR1 2ES3
£250K05/230.16 mi27, Beeching Road, Norwich, Norfolk NR1 2LE3
£185K05/210.16 mi11, Beeching Road, Norwich, Norfolk NR1 2LE3
£180K10/200.16 mi33, Latimer Road, Norwich, Norfolk NR1 2RR3
£245K01/230.16 mi33, Coke Road, Norwich, Norfolk NR1 2LW3
£215.5K06/230.16 mi4, Coke Road, Norwich, Norfolk NR1 2LW3
£209.9K02/210.16 mi43, Long John Hill, Norwich, Norfolk NR1 2JW3
£225K09/210.17 mi124, Mansfield Lane, Norwich, Norfolk NR1 2LG3
£280K03/210.18 mi6, Huxley Close, Norwich, Norfolk NR1 2JS3
£251K12/220.18 mi127, Hall Road, Norwich, Norfolk NR1 2PW3
£282.5K02/210.2 mi13, Stratford Drive, Norwich, Norfolk NR1 2EY3
£200K02/240.2 mi7, Stratford Drive, Norwich, Norfolk NR1 2EY3
£262K12/220.2 mi33, Lindley Street, Norwich, Norfolk NR1 2HF3
£255K03/210.2 mi8, Lindley Street, Norwich, Norfolk NR1 2HF3
£260K03/210.2 mi207, Cecil Road, Norwich, Norfolk NR1 2PN3
£220K08/210.22 mi6, Elwyn Road, Norwich, Norfolk NR1 2RX3
£335K12/230.22 mi28, Meadowbrook Close, Norwich, Norfolk NR1 2HJ3
£335K07/230.22 mi3, Meadowbrook Close, Norwich, Norfolk NR1 2HJ3
£325K01/210.22 mi5, Meadowbrook Close, Norwich, Norfolk NR1 2HJ3
£331K05/210.22 mi20, Meadowbrook Close, Norwich, Norfolk NR1 2HJ3
£207K05/210.22 mi145, Hall Road, Norwich, Norfolk NR1 2RN3
£330K10/200.22 mi90, City Road, Norwich, Norfolk NR1 2HG3
£170K10/200.24 mi139, Barrett Road, Norwich, Norfolk NR1 2LS3
£425K06/230.25 mi9, Brian Avenue, Norwich, Norfolk NR1 2PH3
£405.8K06/240.25 mi37, Brian Avenue, Norwich, Norfolk NR1 2PH3
£342K12/200.25 mi7, Brian Avenue, Norwich, Norfolk NR1 2PH3
£206K07/210.26 mi51, Barrett Road, Norwich, Norfolk NR1 2HY3
£237.5K03/230.26 mi42, Randolf Road, Norwich, Norfolk NR1 2RU3
£185K02/210.26 mi148, Barrett Road, Norwich, Norfolk NR1 2RT3
£405K02/230.27 mi117, Cecil Road, Norwich, Norfolk NR1 2PJ3
£220K07/240.28 mi34, Arnold Miller Road, Norwich, Norfolk NR1 2JD3
£135K08/230.28 mi114, Netherwood Green, Norwich, Norfolk NR1 2JQ3
£170K12/220.28 mi145, Netherwood Green, Norwich, Norfolk NR1 2JQ3
£380K01/230.29 mi3, Martineau Lane, Norwich, Norfolk NR1 2HX3
£315K05/230.29 mi9, Martineau Lane, Norwich, Norfolk NR1 2HX3
£229K09/210.3 mi2, Hatton Road, Norwich, Norfolk NR1 2PT3
£340K02/240.3 mi96, Cecil Road, Norwich, Norfolk NR1 2PJ3
£440K06/230.3 mi80, Cecil Road, Norwich, Norfolk NR1 2PJ3
£370K02/210.31 mi2, Smithfield Road, Norwich, Norfolk NR1 2HN3

Local Rents

10 rents from £900/mo to £1.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,40002/240.17 mi-3
£1,50012/240.17 mi-3
£1,10006/240.21 miLong John Hill, Norwich3
£1,10012/240.21 miLong John Hill, Norwich3
£1,65012/240.41 miCarlyle Road, Norwich, Norfolk, NR13
£1,25012/240.42 miCricket Ground Road, Norwich3
£1,30012/240.56 miLittle John Road, Norwich, NR43
£1,30012/240.56 mi-3
£1,50006/240.56 miBracondale Millgate, Norwich, Norfolk, NR13
£90001/240.59 mi-3

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.93 miles away

Nearest school

0.30 miles away

Nearest train station

1.08 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Price changed to £190,000

March 20, 2025

Listed for £200,000

March 11, 2025

Floor Plans

Description

  • Three Bedroom Terrace Home +
  • In Need Of Updating Throughout +
  • Ideal Project For Any Potential Purchasers Looking To Put Their Own Stamp On A Home +
  • Sizeable Front And Rear Gardens +
  • Versatile Layout Which Could Be Remodelled +
  • Three Well Proportioned Bedrooms +
  • Bathroom & Separate W/C +
  • Backing Onto Greenspace +
  • Conveniently Situated With Easy Access To Norwich City Centre +
  • Walking Distance Of Local Amenities +

Perfectly positioned within striking distance of Norwich's City Centre stands this deceptively spacious terrace home. This popular NR1 location boasts a host of local amenities within walking distance all set just moments outside of Norwich city centre. In need of updating and modernisation throughout this home is perfect for any potential purchaser looking for a project to get their teeth stuck into.

As you enter this property the entrance provides you with space for shoes & coats. The entrance hall leads you through to the spacious lounge. Filled with natural light, thanks to the oversized window to the front this room is also home to a fireplace. The kitchen can be found to the rear of the home along with the bathroom & separate W/C all of which would require updating. The ground floor lay out could be remodelled in a host of different ways to create numerous different environments.

All three bedrooms are well-proportioned and are all found off the landing Including the 17ft main bedroom which comprises of a built in wardrobe. Bedrooms two & three are equally as impressive. Bedroom two provides the perfect guest room while bedroom three could be used as an office space, ideal for those looking to work from home.

The rear garden is a great size & enjoys a sunny aspect. The rear garden is fully enclosed and comprises of a lawned area as well as sizeable storage shed. The rear garden also backs onto allotments/greenspace giving this home a more scenic outlook than most in the area. A must see for any purchaser looking for a home they can remodel into their own.

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, Eaton

01603 361730

Next Steps?

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