116 Somerton Avenue, Lowestoft

Description

This two bedroom mid terrace house has been let to the same tenant for over 50 years and has a registered rent which was last increased on 23 Jan 2023 to £105 per week. The tenant is a single male. No internal viewings are possible on this property.

Accommodation

Ground floor: sitting room/lounge, dining room, kitchen and outside WC. First floor: two bedrooms and a shower room.

Location

Lowestoft

Tenure / Property Information

Tenure	Freehold
Lease	Regulated tenancy with registered rent of £105 per week, last increased on 23 January 2023
Occupancy	Occupied by a single male tenant under a regulated tenancy; the same tenant has occupied the property for over 50 years
EPC	Current Rating: Please refer to Legal Pack
Council Tax	Band A
Parking	Potential for off-road parking in the rear garden
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

Same-road terraced comparables range from £74,000 to £160,000, with the more recent stated sales at £130,000, £155,000 and £160,000. A base GDV of £147,500 is supported by the comparable evidence, with a broad £130,000–£160,000 scenario range. This is indicative only because the property is occupied under a regulated tenancy, no internal viewing is possible and condition is unknown.

Investment Snapshot

Guide Price	£40,000 - £50,000 (plus fees)
HB Estimated GDV	£147,500
Estimated Monthly Rent	£455 – £475 pcm
Estimated Annual Rent	£5,460 pa
Gross Yield on Guide	13.7%

Strategy Recommendation

Consider only as an income-led, tenanted investment if the regulated tenancy, rent register, legal pack and condition are acceptable. Do not bid on the assumption of vacant possession, refurbishment uplift or a successful BRRR exit.

Works Required

No specific works can be responsibly specified without an internal viewing. The legal pack, EPC and condition should be reviewed, and inspection should be pursued if access becomes available. Any refurbishment allowance remains unsupported.

Rental & Market Context

HB Estimated Market Rent

£455 – £475 pcm

2 Bedroom houses to rent in Lowestoft, Suffolk — 2 bed — — Advertised asking rent

£475 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

76, Somerton Avenue, Lowestoft, East Suffolk, Nr32 4ez 2025-12-09 · Terraced · Freehold	£130,000
37, Somerton Avenue, Lowestoft, East Suffolk, Nr32 4ez 2024-10-25 · Terraced · Freehold	£155,000
94, Somerton Avenue, Lowestoft, East Suffolk, Nr32 4ez 2024-07-05 · Terraced · Freehold	£160,000
37, Somerton Avenue, Lowestoft, East Suffolk, Nr32 4ez 2023-10-11 · Terraced · Freehold	£74,000
98, Somerton Avenue, Lowestoft, East Suffolk, Nr32 4ez 2023-09-05 · Terraced · Freehold	£147,500

Potential BRRR Position

Base GDV	£147,500
75% Refinance	£110,625

The comparable-based GDV is materially above the guide, and 75% of the £147,500 base GDV is £110,625. However, refurbishment costs, total acquisition costs and finance costs are unavailable. The regulated tenancy and lack of internal access also make any value uplift or refinance outcome uncertain. BRRR should not be relied on without legal-pack, condition and lender confirmation.

Buy-to-Let Analysis

The registered rent is £105 per week, equivalent to £455 per calendar month and £5,460 annually. Against the £40,000 guide, this produces a gross yield of approximately 13.65%; the advertised £475 pcm market asking rent is not the passing rent. The regulated tenancy and long occupation provide income continuity but may constrain rent growth, possession and resale flexibility. Net yield cannot be established because operating costs, insurance, management, finance and disbursements are not supplied.

Flip Analysis

A flip is not presently supported. The property is occupied by a regulated tenant, no internal viewing is possible, refurbishment costs are unknown and no selling-cost allowance is supplied. The £130,000–£160,000 comparable range is not sufficient to establish a reliable flip surplus.

Investor Risks & Due Diligence

• Regulated tenancy may limit rent growth, possession and resale options.

• No internal viewing is possible, so condition and required works are unknown.

• The passing rent is £105 per week; the £475 pcm figure is only an advertised asking rent.

• Buyer premium and admin charge total £2,400, while further disbursements and other legal or transfer charges may apply.

• Comparable sale prices are widely dispersed, including a stated £74,000 sale whose circumstances and condition are unknown.

• Potential rear parking is not confirmed.

• EPC rating is not supplied in the evidence.

Recommendation

Consider only as an income-led, tenanted investment if the regulated tenancy, rent register, legal pack and condition are acceptable. Do not bid on the assumption of vacant possession, refurbishment uplift or a successful BRRR exit.

Strategy Rating

HB Rating

★★★☆☆

Analysis Confidence

Confidence

Low-Medium

There is useful same-road sales evidence and a stated registered rent, but no internal viewing, no condition or works budget, incomplete EPC information and potentially additional legal or completion costs.