2, Peddars Rise, Swaffham, Norfolk, PE37 8FD

Description

An individual and beautifully presented 4 bedroom detached bungalow with ample living and reception space, hard landscaped gardens and situated on an exclusive development within easy reach of Swaffham town centre and all its amenities. To be sold with vacant possession.

Accommodation

Entrance Hall, Kitchen, Dining Room, Lounge, Sun Room, Bedroom 1, Jack and Jill En suite, Bedroom 2, Bedroom 3, Bedroom 4, Family Bathroom

Location

Exclusive development in peaceful location; within easy reach of Swaffham town centre and all its amenities.

Tenure / Property Information

Investment Analysis

The strongest evidence is 7 Peddars Rise in the same development, a detached freehold property sold for £430,000 in August 2022. Other same-development sales range from £225,000 to £320,000 but are materially older. A base GDV of £430,000 is supportable from the most recent comparable, although current market movement, floor area and specification differences are unknown. The £325,000 guide is approximately £105,000 below that comparable, before buyer costs, any works and possible seller fees.

Investment Snapshot

Strategy Recommendation

Consider only at or near the guide after confirming current valuation, condition and all special-condition fees. The evidence supports potential value, but the property is better suited to an owner-occupier or value-led purchase than a fully underwritten flip or BRRR without further cost and valuation information.

Works Required

No refurbishment works are identified in the supplied description, which describes the bungalow as beautifully presented. A viewing and survey should verify condition, services, heating, parking and any maintenance requirements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, 75% of the £430,000 base GDV would be approximately £322,500. A BRRR cash-left-in calculation cannot be completed reliably because refurbishment costs, finance costs and possible seller fees are unknown. The apparent value gap is dependent on a 2022 comparable and requires current valuation and lender confirmation.

Buy-to-Let Analysis

Using the advertised asking rent of £1,550 pcm, gross rent is £18,600 annually and the gross yield on the £325,000 guide is approximately 5.72%. This is based on one advertised rental listing, not achieved rent, and excludes finance, management, maintenance, voids, tax, works and any seller fees. Yield on total project cost cannot be established because refurbishment costs and possible completion fees are not supplied.

Flip Analysis

The base GDV exceeds the guide by £105,000, but this is only a gross guide-to-GDV difference. A reliable flip surplus cannot be calculated because works, selling costs, finance costs and possible seller fees are not supplied. The most relevant comparable is from August 2022 rather than the current market.

Investor Risks & Due Diligence

• The principal comparable sold in August 2022 and may not reflect current market value.

• The £1,550 pcm figure is an advertised asking rent rather than achieved rent.

• The seller may charge additional completion fees under the special conditions.

• Condition beyond the presented description, including heating and services, is not evidenced.

• Parking and heating details are not supplied.

• Refurbishment, finance, selling and tax costs are not supplied, preventing a reliable total-cost or flip-surplus calculation.

Recommendation

Consider only at or near the guide after confirming current valuation, condition and all special-condition fees. The evidence supports potential value, but the property is better suited to an owner-occupier or value-led purchase than a fully underwritten flip or BRRR without further cost and valuation information.

Strategy Rating

Analysis Confidence

There is a strong same-development sale from 2022 and one advertised rent, but no floor area, current comparable evidence, achieved rent, refurbishment budget, finance assumptions or complete fee schedule.