21, Watton Road, Swaffham, Norfolk, PE37 7EJ

Description

Three-bedroom end of terrace house situated close to Swaffham town centre in need of full refurbishment. The property benefits from off road parking, enclosed rear garden and wood burning stove. It needs full refurbishment and would make an ideal investment purchase.

Accommodation

Entrance Hall, Lounge/Dining Room, Kitchen, Utility, WC, Garden Room, Landing, Bedroom 1, Bedroom 2, Bathroom, Bedroom 3 through bathroom

Location

Situated close to Swaffham town centre and local amenities including shops, school and restaurants.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-road freehold terraced sale at 27 Watton Road for £218,500 in September 2025, with an earlier sale at £190,000 in March 2020. The subject is also a three-bedroom freehold terrace, but its full-refurbishment requirement and differing accommodation mean this is not a formal valuation. An evidence-led indicative post-refurbishment GDV range is £190,000–£218,500, with £204,250 used as the base scenario.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, full refurbishment quotations, heating and EPC assessment, title review and confirmation of all special-condition fees. Do not rely on the guide-to-GDV difference alone; the current evidence is insufficient to set a defensible maximum bid.

Works Required

Full refurbishment is stated as required. Obtain a full survey and contractor quotations before bidding. Review the EPC F rating and identify required energy improvements; verify the condition and operation of the wood-burning stove, heating arrangements, kitchen, bathroom, WC, utility, garden room, finishes and external areas. No specific defects or work costs are supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £120,000 guide, the known purchase price plus the £1,800 inclusive-of-VAT contract documentation fee is £121,800 before refurbishment and any seller-charged fees. A 75% refinance against the £204,250 base GDV would be approximately £153,188, but the cash left in cannot be calculated because works and other acquisition costs are unknown. The strategy depends on obtaining a confirmed refurbishment budget and lender-acceptable post-works valuation.

Buy-to-Let Analysis

The supplied asking-rent evidence is £650–£1,000 pcm, producing an indicative gross yield on the £120,000 guide of 6.5%–10.0% before refurbishment, finance, voids, management, maintenance and tax. The evidence is asking-rent data rather than achieved rent and is not clearly specific to this property, so the rental assessment is low confidence. Full refurbishment expenditure is unknown, preventing a reliable net-yield or total-cost calculation.

Flip Analysis

The base GDV is estimated at £204,250 from the supplied same-road sales, with a £190,000–£218,500 scenario range. A flip surplus cannot be calculated because no refurbishment cost, finance cost, selling cost or applicable seller fee is supplied. The apparent difference between guide price and GDV should not be treated as profit.

Investor Risks & Due Diligence

• Full refurbishment is stated as required, but no scope, survey or cost estimate is supplied.

• EPC rating is F and the required improvement works are unknown.

• Heating information is incomplete despite reference to a wood-burning stove.

• The £1,800 contract documentation fee applies, while additional seller-charged completion fees may also apply.

• Rental figures are advertised asking rents, not achieved rents, and may not be directly comparable to this property.

• The strongest comparable is a different terraced house at 27 Watton Road, so size, condition and specification differences are unverified.

• No occupancy information is supplied.

• No formal valuation, finance costs or selling costs are supplied.

Recommendation

Proceed only subject to inspection, full refurbishment quotations, heating and EPC assessment, title review and confirmation of all special-condition fees. Do not rely on the guide-to-GDV difference alone; the current evidence is insufficient to set a defensible maximum bid.

Strategy Rating

Analysis Confidence

There is useful same-road completed-sale evidence and supplied rental asking data, but the comparable is a different property, the subject needs full refurbishment, no works budget or detailed condition report is provided, rental evidence is not clearly property-specific, and possible seller fees are unknown.