111 Sheffield Road, Wymondham, Norfolk

Description

Two bedroom semi detached bungalow in need of some updating situated in the desirable well-known market town of Wymondham. This two bedroom bungalow in the sought after Norfolk market town of Wymondham is in need of some updating but offers a ready made home for an investor or owner occupier.

Accommodation

Entrance hall, sitting room, kitchen, two bedrooms and shower room

Location

Situated in the desirable, well-known market town of Wymondham in Norfolk.

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £199,500 in August 2024 to £266,000 in November 2022. The subject’s need for updating and lack of detailed comparable specifications create uncertainty. A base GDV of £205,000 is supported by the most recent nearby evidence, with £199,500–£255,000 used as a cautious evidence-based range.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal-pack review and a firm works budget. The evidence currently supports cautious owner-occupier consideration more than a quantified BTL, BRRR or flip strategy.

Works Required

Inspect and price the unspecified updating required, including the kitchen, bathroom, decoration and any other condition items identified by survey. No specific defects or works costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £160,000 lower guide, the known buyer premium and administration charge total £2,340 before works and other possible disbursements. A 75% refinance of the £205,000 base GDV indicates £153,750, but cash left in cannot be calculated without a quantified works budget and complete costs.

Buy-to-Let Analysis

BTL viability cannot be reliably established. The only rental evidence is an advertised £1,380 pcm for a two-bedroom property in Watton, not Wymondham, and is not an achieved rent. Refurbishment costs and full acquisition costs are also unknown.

Flip Analysis

A base GDV of £205,000 suggests potential gross headroom over the lower guide, but no refurbishment budget, selling allowance or complete acquisition costs are available. Flip surplus is therefore unsupported.

Investor Risks & Due Diligence

• The scope and cost of the required updating are unspecified.

• The available rental evidence is an advertised asking rent in Watton rather than achieved rent in Wymondham.

• Comparable properties may differ in size, condition and accommodation, which are not supplied.

• Special-condition legal, search, transfer and seller-cost disbursements may be payable.

• The auction guide is stated to be plus fees.

Recommendation

Proceed only subject to inspection, legal-pack review and a firm works budget. The evidence currently supports cautious owner-occupier consideration more than a quantified BTL, BRRR or flip strategy.

Strategy Rating

Analysis Confidence

Recent same-road sales and auction costs are supplied, but the property’s exact condition, comparable specifications, achievable Wymondham rent, works cost and special-condition disbursements are unknown.