1 Valley Road, Costessey, Norwich, Norfolk

Description

Three bedroom semi detached house with garage and off road parking. This 1950s semi detached house extends to around 99 sq/m. It was previously let to the same person for many years and is now to be sold with vacant possession. The property is double glazed, has gas central heating, a garage and off road parking. It now requires some improvement to realise its full potential.

Accommodation

Ground floor: Entrance hall, sitting room, dining room, timber garden room, kitchen, WC. First floor: Landing, three bedrooms, bathroom. Outside: Front and rear garden in need of attention, off road parking at front, attached garage, timber shed.

Location

The property is located in a suburb around three miles west of Norwich city centre close to a range of services and amenities.

Tenure / Property Information

Investment Analysis

The supplied evidence does not support a reliable GDV. The only sale comparable is a 1997 transaction at £38,000 and is too old to establish current value. The £160,000–£180,000 auction guide is a marketing guide, not a valuation. Current market value, refurbishment budget and maximum bid require a current valuation, inspection and contractor quotes.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautious owner-occupier or investment acquisition after confirming condition, value, works and legal-pack costs. Do not bid on the supplied evidence alone.

Works Required

Inspect and price the unspecified improvements required to realise the property's potential, together with attention to the front and rear gardens. Confirm the condition of the 1950s house, garage, timber garden room and shed before bidding. No specific internal defects or works have been evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is unsupported because there is no reliable current GDV, quantified refurbishment budget or property-specific rent. The 75% refinance figure and cash left in cannot be calculated. Obtain a survey, rental appraisal, legal-pack review and works quotations before considering this strategy.

Buy-to-Let Analysis

BTL yield cannot be established reliably. The £1,700 pcm figure is an advertised asking rent under a generic rental listing and is not identified as the rent for this property; the auctioneer provided no rent estimate. Buyer premium, works, finance and other acquisition costs are also unknown.

Flip Analysis

A flip appraisal cannot be supported from the evidence. The guide is £160,000–£180,000 plus fees, while the works scope, current value, resale value and selling costs are unknown. The historic 1997 comparable should not be used as a current resale benchmark.

Investor Risks & Due Diligence

• Unspecified buyer premium and potentially payable legal, search, seller-cost, transfer and disbursement charges.

• The property requires some improvement, but the scope and cost are not quantified.

• Front and rear gardens are described as needing attention.

• The £1,700 pcm rental evidence is only an advertised generic asking rent and is not confirmed for this property.

• The only supplied comparable completed in 1997 is too old to support a current valuation.

• The property is vacant, so no passing rent or existing tenancy income is available.

Recommendation

Proceed only as a cautious owner-occupier or investment acquisition after confirming condition, value, works and legal-pack costs. Do not bid on the supplied evidence alone.

Strategy Rating

Analysis Confidence

The property description and guide range are supplied, but there is no current comparable evidence, property-specific rent, quantified works budget, current valuation or complete fee schedule.