4 Bed HMO, Norwich, NR1 1HH, £335,000

35 Clarence Road, Norwich, NR1 1HH - 1 views - 2 months ago

HMO
ROI: 2%
92 m²
+1 photos

ValuationOvervalued

Sold Prices£210K - £865K
Sold Prices/m²£2.2K/m² - £5.6K/m²

 

 

Square Metres

92.20 m²
Price/m²£3.6K/m²

Value Estimate

£297,861

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£83,750

Stamp Duty & Legal Fees

£15,500

Total Cash In

£99,250

 

 

Cash Out

 

Room Rate

£550

Gross Rent

£2,200

Running Costs/mo

£1,996

Cashflow/mo

£204

Cashflow/yr

£2,453

ROI

2%

Gross Yield

8%

Local Sold Prices

50 sold prices from £210K to £865K, average is £467.5K. £2.2K/m² to £5.6K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£420K02/230.01 mi3, Cedar Road, Norwich, Norfolk NR1 1HL4
£435K11/220.02 mi16, Cedar Road, Norwich, Norfolk NR1 1HL4
£485K03/230.15 mi140, Thorpe Road, Norwich, Norfolk NR1 1RH4
£350K11/200.17 mi3a, Cotman Road, Norwich, Norfolk NR1 4AF4
£550K11/210.2 mi9, Heathside Road, Norwich, Norfolk NR1 1TH4
£520K08/220.2 mi11, Heathside Road, Norwich, Norfolk NR1 1TH4
£500K07/240.21 mi7, Heathside Road, Norwich, Norfolk NR1 1TH4
£358K08/220.21 mi3, Cotman Road, Norwich, Norfolk NR1 4AF4
£567.5K07/220.25 mi5, High Green, Norwich, Norfolk NR1 4AP4
£400K10/200.25 mi2, High Green, Norwich, Norfolk NR1 4AP4
£550K03/210.28 mi9, Cotman Road, Norwich, Norfolk NR1 4AH4
£515K10/200.31 mi8, Stan Petersen Close, Norwich, Norfolk NR1 4QJ4
£392K12/200.32 mi22, Old Library Mews, Norwich, Norfolk NR1 1ET4
£515K09/210.37 mi28, Telegraph Lane East, Norwich, Norfolk NR1 4AL4
£600K10/200.37 mi18, Telegraph Lane East, Norwich, Norfolk NR1 4AL4
£425K10/200.38 mi6, Cintra Road, Norwich, Norfolk NR1 4AE4
£325K05/210.4 mi42, The Sidings, Norwich, Norfolk NR1 1GA4
£523K10/200.43 mi176, Wellesley Avenue South, Norwich, Norfolk NR1 4AD4
£645K03/210.43 mi150, Wellesley Avenue South, Norwich, Norfolk NR1 4AD4
£365K09/230.46 mi29, Carrow Hill, Norwich, Norfolk NR1 2AA4
£375K12/200.47 mi33, The Nest, Norwich, Norfolk NR1 1GH4
£275K05/240.5 mi21, Argyle Street, Norwich, Norfolk NR1 2BZ4
£330K12/200.52 mi2b, Stanley Avenue, Norwich, Norfolk NR7 0BE4
£328K04/210.52 mi2, Stanley Avenue, Norwich, Norfolk NR7 0BE4
£460K05/210.53 mi5c, Stanley Avenue, Norwich, Norfolk NR7 0BE4
£678.3K06/210.53 miThe Hermitage, 4, Southgate Lane, Norwich, Norfolk NR1 2AQ4
£865K01/240.54 mi31, Bracondale, Norwich, Norfolk NR1 2AT4
£385K03/210.54 mi112, King Street, Norwich, Norfolk NR1 1QE4
£747K02/210.54 mi66, Bracondale, Norwich, Norfolk NR1 2BE4
£670K03/210.56 mi3, Carrow Hill, Norwich, Norfolk NR1 2AA4
£420K03/210.57 mi4, Kilderkin Way, Norwich, Norfolk NR1 1RD4
£450K04/240.57 mi2, Kilderkin Way, Norwich, Norfolk NR1 1RD4
£515K06/210.57 mi44, Bracondale, Norwich, Norfolk NR1 2AP4
£785K08/230.57 mi46, Bracondale, Norwich, Norfolk NR1 2AP4
£410K09/230.6 mi6, Conesford Drive, Norwich, Norfolk NR1 2BB4
£540K10/200.6 mi19, Conesford Drive, Norwich, Norfolk NR1 2BB4
£675K12/200.6 mi3, Conesford Drive, Norwich, Norfolk NR1 2BB4
£532.5K04/210.63 mi4, Holmwood Rise, Norwich, Norfolk NR7 0HJ4
£570K04/210.64 mi42, Bishopgate, Norwich, Norfolk NR1 4AA4
£640K12/230.69 mi183, Queens Road, Norwich, Norfolk NR1 3PP4
£365K02/230.69 mi74, Plumstead Road, Norwich, Norfolk NR1 4JU4
£530K03/210.7 mi21, Thorpe Hall Close, Norwich, Norfolk NR7 0TH4
£450K08/240.71 mi45, Britannia Road, Norwich, Norfolk NR1 4HP4
£430K01/230.73 mi55, City Road, Norwich, Norfolk NR1 3AS4
£337.5K05/210.73 mi67, City Road, Norwich, Norfolk NR1 3AS4
£475K01/240.77 mi2, St James Meadow, Norwich, Norfolk NR3 1TR4
£440K08/230.77 mi1, St James Meadow, Norwich, Norfolk NR3 1TR4
£425K02/210.84 mi45, Harvey Lane, Norwich, Norfolk NR7 0BZ4
£580K07/230.85 mi6, Meadow Close, Trowse, Norwich, Norfolk NR14 8TE4
£210K02/240.85 mi3, Lakenfields, Norwich, Norfolk NR1 2HB4

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.42 miles away

Nearest school

0.40 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £335,000

January 21, 2025

Floor Plans

Description

  • Four/five room investment property +
  • Currently achieving £2200 PCM as a four room multiple occupancy +
  • Off road parking +
  • Prime location with easy access to City +

This charming three-storey Victorian terrace house presents a compelling HMO investment opportunity in the heart of Norwich. Situated within walking distance of the city center and train station, this property offers excellent access to amenities and boasts a spacious layout with four/five bedrooms, modern kitchen, and multiple en-suite bathrooms. Its prime location and desirable features make it an ideal investment for generating strong rental income.

Prime Hmo Investment Opportunity - This charming three-storey Victorian terrace house presents an excellent investment opportunity in a highly sought-after location. Situated close to the city center and train station, this property offers convenient access to all that Norwich has to offer.

This property boasts spacious accommodation, featuring four/five bedrooms providing ample space for multiple tenants. The recently upgraded kitchen boasts modern appliances and ample workspace. Many bedrooms feature en-suite bathrooms for added privacy and convenience. The prime location and desirable features make this an ideal property for generating strong rental income. The property is currently earning £2,200 pcm and that the tenants wish to remain at the property and could be included in situation if preferred.

Enjoy easy access to the city center, with its vibrant mix of historical architecture, modern shopping, and a bustling market. Explore charming lanes with boutique shops, cafes, bars, and diverse restaurants.

The ground floor comprises an entrance hall, spacious lounge/potential fifth bedroom, modern kitchen/diner, utility room, and WC. The first floor features two double bedrooms with en-suite bathrooms, a single bedroom, and a shared bathroom. The second floor boasts a generously sized double bedroom with an en-suite bathroom and eaves storage.

External features include an allocated parking space providing convenient off-street parking and an enclosed paved garden offering a private outdoor space.

This property presents a compelling investment opportunity due to its strong rental demand, potential for capital growth, and easy management.

This information is provided as a guide and may be subject to change. Interested parties are advised to conduct their own due diligence and inspections.

This property offers a fantastic opportunity for savvy investors seeking a high-yielding and well-located investment. Contact us today to arrange a viewing.

Agent Details

Arlington Park Sales & Lettings Agency, Norwich

01603 361898

Next Steps?

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