19 Damgate Lane, Acle, Norwich, Norfolk

Description

This two bedroom end terrace house is situated in the village of Acle and close to the train station. This two bedroom end-terraced house presents an excellent opportunity for purchasers seeking a property with scope for modernisation and redecoration.

Accommodation

Ground floor: sitting room, kitchen, inner lobby leading to ground floor bathroom and porch. First floor: stairs from kitchen to the first floor, two bedrooms accessed off landing. Outside: driveway leading to timber garage and rear garden.

Location

The property is situated in the village of Acle, within approximately half a mile walking distance of the village centre, where a range of shops and local amenities can be found. Acle railway station is also within easy reach, providing a rail connection into Norwich.

Tenure / Property Information

Investment Analysis

The two supplied Land Registry sales are for 23 Damgate Lane, a different terraced property: £195,000 in July 2021 and £233,000 in September 2024. They provide limited street-level evidence but no comparison of size, condition or bedroom count. A cautious supported GDV range is £195,000–£233,000, with a midpoint base estimate of £214,000. The property is described as requiring modernisation and redecoration, but no quantified works evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautious owner-occupier or value-led purchase after inspection and legal-pack review. For investment or flipping, obtain a firm works budget and validate achievable local rent and resale value before bidding.

Works Required

Modernisation and redecoration as described, with the precise scope to be confirmed by inspection and the legal pack. No specific defects, structural issues or service requirements are evidenced, so no works allowance is estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the midpoint GDV estimate of £214,000, a 75% refinance figure is £160,500. The strategy cannot be reliably modelled because the purchase price, refurbishment cost, finance costs and total acquisition costs are not fixed. The unknown refurbishment allowance may materially affect cash left in and refinance viability.

Buy-to-Let Analysis

The supplied rental evidence ranges from £1,100 to £1,700 pcm, but these are advertised asking rents and are not confirmed as local, achieved or property-specific. Using the conservative £1,100 pcm figure gives annual rent of £13,200 and approximately 10.15% gross yield against the £130,000 guide midpoint, before finance, maintenance, voids, tax and acquisition costs. Yield on total cost cannot be established because works and other completion costs are unknown.

Flip Analysis

The supplied sales indicate a potential value range of £195,000–£233,000, compared with the £120,000–£140,000 guide range. However, flip surplus cannot be calculated because refurbishment costs, selling costs and the eventual purchase price are unknown. The comparable evidence is limited to another property at the same street address number and does not establish a formal resale value.

Investor Risks & Due Diligence

• The property is stated to require modernisation and redecoration, but the scope and cost are unknown.

• Rental figures are advertised asking rents rather than achieved or passing rents and are not confirmed as directly comparable to this property.

• GDV evidence is limited to two historic sales of a different property at 23 Damgate Lane, with no supplied size, condition or bedroom comparison.

• Buyer premium and admin charge total £1,800, with possible additional legal-pack disbursements and other charges.

• Auction purchase price may exceed the guide range, making the indicative guide-based yield less applicable.

Recommendation

Proceed only as a cautious owner-occupier or value-led purchase after inspection and legal-pack review. For investment or flipping, obtain a firm works budget and validate achievable local rent and resale value before bidding.

Strategy Rating

Analysis Confidence

The evidence includes two sales on the same street, broad advertised rental listings and a guide range, but lacks property-specific rent, measured floor area, detailed condition, quantified works, finance costs and legal-pack disbursements.