14A Home Farm Park, Great Hockham, Thetford, Norfolk

Description

Freehold one bedroom terraced bungalow in good decorative order. This one bedroom brick and flint terraced bungalow extends to around 32 sq/m. It is in good decorative order and has double glazing and electric heating. It was previously let at £550 pcm (£6,600 pa), and is now to be sold with vacant possession. The good EPC C rating makes it an ideal buy to let investment.

Accommodation

Ground floor: lounge, kitchen, bathroom, bedroom. Outside: front courtyard garden mainly laid to patio; allocated parking to the rear.

Location

The property is around eight miles south west of Attleborough.

Tenure / Property Information

Tenure	Freehold
Occupancy	Vacant possession
EPC	Current Rating C
Council Tax	Band A
Parking	Allocated parking to the rear
Heating	Electric heating
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

The five supplied completed sales on Home Farm Park range from £145,000 to £158,000, but they date from 2010–2017 and do not state bedroom count, floor area or condition. A cautious evidence-based GDV range is £145,000–£158,000, with £151,000 used as the base estimate. Confidence is limited by the age and detail of the comparables.

Investment Snapshot

Guide Price	£80,000 - £100,000 plus fees
HB Estimated GDV	£151,000
Estimated Monthly Rent	£550 – £800 pcm
Estimated Annual Rent	£9,600 pa
Gross Yield on Guide	12%

Strategy Recommendation

Potentially suitable as a buy-to-let subject to legal-pack review, inspection and confirmation that achievable rent supports the purchase price. Do not rely on the £800 asking rent or historic comparables without further validation.

Works Required

The property is described as being in good decorative order, with double glazing, electric heating and EPC C. No specific refurbishment works or costs are evidenced; inspection and review of the legal pack remain necessary.

Rental & Market Context

HB Estimated Market Rent

£550 – £800 pcm

Properties for Rent - lawsonsestateagents.co.uk — 1 bed — — Advertised asking rent

£800 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

8, Home Farm Park, Great Hockham, Thetford, Breckland, Ip24 1nn 2017-07-20 · Terraced · Freehold	£158,000
11, Home Farm Park, Great Hockham, Thetford, Breckland, Ip24 1nn 2016-10-24 · Terraced · Freehold	£151,000
10, Home Farm Park, Great Hockham, Thetford, Breckland, Ip24 1nn 2014-09-22 · Terraced · Freehold	£155,000
7, Home Farm Park, Great Hockham, Thetford, Breckland, Ip24 1nn 2010-03-05 · Terraced · Freehold	£145,000
8, Home Farm Park, Great Hockham, Thetford, Breckland, Ip24 1nn 2008-04-17 · Terraced · Freehold	£154,000

Potential BRRR Position

Base GDV	£151,000
75% Refinance	£113,250

Using the £151,000 base GDV, 75% refinance is approximately £113,250. A complete BRRR cash-left-in calculation cannot be established because refurbishment costs, completion disbursements, finance costs and the actual purchase price are not supplied.

Buy-to-Let Analysis

The property was previously let at £550 pcm (£6,600 annually), while the supplied rental listing advertises £800 pcm. At the £80,000–£100,000 guide range, gross yield is approximately 6.6%–8.25% using the previous rent, or 9.6%–12.0% using the advertised asking rent. The £800 figure is an asking rent rather than achieved rent, and operating, finance and void costs are not supplied.

Flip Analysis

The supplied evidence indicates a base resale value of approximately £151,000, with a £145,000–£158,000 comparable range. A reliable flip surplus cannot be calculated because refurbishment costs, completion costs, selling costs and the eventual purchase price are unknown.

Investor Risks & Due Diligence

• The completed comparables are dated between 2010 and 2017 and omit bedroom, size and condition details.

• The £800 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The previous £550 pcm rent may not reflect current achievable rent.

• Buyer premium and admin charge total £2,160, while additional legal-pack disbursements and other charges may apply.

• No refurbishment, completion, finance or selling-cost allowance is evidenced.

• The property uses electric heating, but no running-cost information is supplied.

Recommendation

Potentially suitable as a buy-to-let subject to legal-pack review, inspection and confirmation that achievable rent supports the purchase price. Do not rely on the £800 asking rent or historic comparables without further validation.

Strategy Rating

HB Rating

★★★☆☆

Analysis Confidence

Confidence

Medium

The property description, tenure, vacancy, historic rent, one advertised rental and several same-estate completed sales are supplied. However, the sales are dated, comparable details are incomplete, and refurbishment, completion, finance and selling costs are not evidenced.