17, Silver Hill, KING'S LYNN, Norfolk, PE30 4TL

Description

An opportunity to acquire a mid-terrace three-bedroom house. The property has previously been tenanted and is now being sold with vacant possession. It could potentially produce £12,600 per annum and would continue to make a sound investment or an ideal first home.

Accommodation

Ground Floor: Entrance porch, lounge, kitchen/diner. First Floor: Landing, three bedrooms, bathroom. Exterior: Front garden low maintenance with path to front door, enclosed low maintenance rear garden. En bloc garage.

Location

Located within a popular residential area of King's Lynn, within proximity to the Queen Elizabeth Hospital, a variety of local amenities and the town centre.

Tenure / Property Information

Investment Analysis

The strongest evidence is the £175,000 sale of 12 Silver Hill in March 2025. Other same-street sales range from £151,000 to £220,000, but dates and property condition are not directly comparable. A cautious base GDV of £175,000 is used, with £151,000 low and £220,000 high scenarios. The guide is £150,000, plus the known £1,800 contract documentation fee. No condition or heating details are supplied, so refurbishment costs cannot be estimated reliably.

Investment Snapshot

Strategy Recommendation

Consider as a potential BTL or owner-occupier purchase only after confirming condition, heating, achievable rent and all special-condition fees. Avoid aggressive bidding because the property-specific works cost is unknown.

Works Required

No specific defects or works are evidenced. Obtain a full inspection, confirm heating and assess only any required repair, redecoration, safety or tenancy-readiness works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known £1,800 fee, the acquisition cost is £151,800 before any refurbishment or other charges. A 75% refinance of the £175,000 base GDV would be £131,250, leaving a known pre-works funding gap of £20,550 before finance and tax. BRRR viability therefore depends on actual condition, works costs, achievable rent and finance terms.

Buy-to-Let Analysis

The auctioneer estimates rent at £12,600 per annum (£1,050 pcm), equivalent to an 8.4% gross yield against the £150,000 guide. This is an estimate rather than achieved rent, and no external rental comparables were identified. Including the known £1,800 documentation fee, the minimum known acquisition cost is £151,800 before any works, finance, tax or other seller fees, so the true gross yield on total cost cannot be established.

Flip Analysis

Against the £175,000 base GDV, the guide plus known documentation fee leaves a gross pre-works, pre-selling-cost difference of £23,200. This is not a reliable flip surplus because refurbishment costs, selling costs, finance, tax and any additional seller fees are unknown.

Investor Risks & Due Diligence

• The property condition and heating arrangements are not specified.

• The £12,600 annual rent is an auctioneer estimate, not achieved or independently evidenced rent.

• Comparable sale prices vary materially and are not confirmed as condition-matched.

• Additional seller fees may apply under the special conditions.

• Refurbishment, finance, tax and selling costs are not supplied.

• The £1,800 contract documentation fee is payable by the buyer.

Recommendation

Consider as a potential BTL or owner-occupier purchase only after confirming condition, heating, achievable rent and all special-condition fees. Avoid aggressive bidding because the property-specific works cost is unknown.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and an auctioneer rent estimate, but no condition survey, external rental comparables, heating details, refurbishment budget or confirmation of possible seller fees.