176, Dereham Road, Norwich, Norfolk, NR5 0SX

Description

An opportunity to acquire a four-bedroom semi-detached house, situated on the New Costessey end of Dereham Road, set back from the road. The property enjoys a generous plot with a low maintenance front garden and driveway providing off road parking. The spacious accommodation is arranged over three floors, with lounge, dining room, kitchen and side entrance porch to the ground floor, three bedrooms and family bathroom to the first floor, and a further fourth bedroom on the second floor. This property would benefit from updating throughout and would make an ideal first home or investment purchase. The house is ideally positioned for access to local amenities and the Dereham Road offers excellent transport links into the city centre, inner and outer ring roads.

Accommodation

Ground Floor: Entrance porch, hallway with stairs to first floor, lounge, dining room, kitchen, side entrance porch. First Floor: Landing with stairs to second floor, three bedrooms, family bathroom. Second Floor: Landing and bedroom. Exterior: Low maintenance front garden, driveway providing off road parking and access to garage, and pedestrian footpath to enclosed rear garden with summer house, greenhouse, patio and area laid to lawn.

Location

Dereham Road lies to the west of the city centre and leads to the popular suburb of Costessey. The property is within walking distance of numerous facilities and regular bus links to the city centre, university and road links to the inner and outer ring roads, giving excellent transport access.

Tenure / Property Information

Investment Analysis

The strongest evidence is 166 Dereham Road, a same-road semi-detached freehold sale at £283,000 in July 2025. Other same-road semi-detached sales range from £274,000 to £345,000, but bedroom count, size, condition and specification are not supplied. A cautious base GDV of £283,000 is therefore used, with a low scenario of £274,000 and high scenario of £315,000. The subject requires updating throughout, which may place it below fully comparable finished properties; the estimate requires survey and further comparable analysis.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment basis until a full legal pack review, survey, refurbishment quotation and local rental assessment confirm the margin. Subject to those checks, the property may suit an owner-occupier or value-add strategy rather than an underwritten BTL/BRRR purchase.

Works Required

Updating throughout is indicated by the description. Scope and cost cannot be quantified from the evidence. A survey should establish the condition of the kitchen, bathroom, decoration, heating, electrical installation, windows, roof, garage, summer house, greenhouse and external areas before bidding; these items must not be assumed defective.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious £283,000 base GDV, 75% refinance is £212,250. BRRR cash requirements and recycling cannot be assessed because refurbishment cost, rent, finance costs, taxes and any other acquisition or seller charges are unavailable. The property is described as requiring updating throughout, so a survey and detailed works schedule are essential.

Buy-to-Let Analysis

BTL underwriting is not possible because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent, operating costs, refurbishment costs and total acquisition cost require confirmation. The £1,800 inclusive-of-VAT contract documentation fee is known; potential seller fees are unspecified.

Flip Analysis

A flip appraisal cannot be completed reliably because refurbishment costs and selling costs are unsupported. The £283,000 base GDV is a cautious same-road comparable-led estimate, but the available sales do not confirm matching bedroom count, floor area, condition or specification. The known £1,800 documentation fee and any applicable seller fees would need inclusion.

Investor Risks & Due Diligence

• The property is stated to require updating throughout, but no survey or refurbishment cost is provided.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• EPC rating is TBC and heating details are unavailable.

• Seller fees may be payable on completion but are not specified.

• Comparable sales do not provide bedroom count, floor area, condition or specification, limiting GDV reliability.

• The guide price is not a confirmed purchase price and the final auction price may differ.

Recommendation

Do not bid on an investment basis until a full legal pack review, survey, refurbishment quotation and local rental assessment confirm the margin. Subject to those checks, the property may suit an owner-occupier or value-add strategy rather than an underwritten BTL/BRRR purchase.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and a known buyer documentation fee, but the comparables lack bedroom, size and condition details. There is no rental evidence, EPC rating, refurbishment budget, heating information or complete fee schedule.