11 Raglan Street, Lowestoft, Suffolk

Description

An over the passage three bedroom terrace house let producing £475 pcm. Having been occupied for many years by the same tenant this over the passage terrace house is now to be sold as an investment property producing £5,700 pa. The property has three bedrooms, two reception rooms, kitchen and bathroom on the ground floor and three bedrooms on the first floor. There is also a small garden to the rear. The house is within walking distance of the town centre shops and railway station.

Accommodation

Ground Floor: lounge, dining room, kitchen, bathroom. First Floor: landing, three bedrooms. Outside: small rear garden, on street parking.

Location

Within walking distance of the town centre shops and railway station.

Tenure / Property Information

Investment Analysis

The most relevant evidence is the same-street sale at £92,500 in April 2026 and £80,000 in February 2025. The £130,000 2022 sale is older and materially higher, so it is treated as an upper scenario rather than the base case. A base GDV of £92,500 is reasonable on the supplied evidence, subject to condition, tenancy and legal-pack review. The property currently produces £475 pcm (£5,700 pa), materially below the supplied advertised three-bedroom asking rents of £950–£975 pcm; those listings are asking rents and are not evidence of achieved rent for this property.

Investment Snapshot

Strategy Recommendation

Potential income investment only if the tenant, tenancy terms, condition and legal pack are satisfactory. Base the underwriting on the £475 pcm passing rent, not the advertised asking rents, until rent uplift is evidenced. Do not bid without a verified works and total-cost assessment.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain the legal pack and inspect the property, with particular focus on condition, tenant occupation, compliance and any deferred maintenance before allowing for works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £92,500 base GDV, a 75% refinance is £69,375. At a £50,000 guide midpoint, the known purchase price plus the £2,400 buyer and admin charges is £52,400 before works, finance, tax and disbursements. However, refurbishment costs and other acquisition costs are unsupported, so total project cost and cash-left-in cannot be established reliably. Existing occupation and below-market passing rent may complicate possession, refinance valuation and rent uplift.

Buy-to-Let Analysis

At the current passing rent of £475 pcm, gross rent is £5,700 pa. Against the £40,000–£60,000 guide range this equates to approximately 9.5%–14.25% gross before costs, or 11.4% using the guide midpoint of £50,000. The advertised £950–£975 pcm rents indicate potential upside, but they are asking rents rather than achieved rents and cannot be relied upon without tenant, market and compliance assessment. Buyer premium and admin charge total £2,400, before any disbursements or other legal-pack costs.

Flip Analysis

A base resale value of £92,500 is supported by the most relevant recent same-street evidence. Flip surplus cannot be calculated because refurbishment costs, selling costs and full acquisition costs are not supplied. The property is tenanted, which may restrict vacant-possession resale and should be confirmed before considering a flip.

Investor Risks & Due Diligence

• The property is occupied by a long-standing tenant; tenancy terms, arrears, possession position and any rent-control or compliance issues are not supplied.

• The current rent of £475 pcm is substantially below the advertised £950–£975 pcm rents, which are asking rents rather than achieved rents.

• Property condition and any required refurbishment are not evidenced.

• Buyer premium and admin charge total £2,400, with possible additional legal-pack disbursements and other charges.

• GDV is sensitive to the limited comparable evidence; the £130,000 2022 sale is materially above the more recent £80,000 and £92,500 sales.

• On-street parking and the small rear garden may affect tenant demand and resale appeal, although no quantified impact is evidenced.

Recommendation

Potential income investment only if the tenant, tenancy terms, condition and legal pack are satisfactory. Base the underwriting on the £475 pcm passing rent, not the advertised asking rents, until rent uplift is evidenced. Do not bid without a verified works and total-cost assessment.

Strategy Rating

Analysis Confidence

Recent same-street sold comparables, current passing rent and advertised rental evidence are available, but condition, refurbishment costs, tenancy terms, legal-pack disbursements, selling costs and achieved market rent are not supplied.