21 Watton Road, Swaffham, Norfolk

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

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 most relevant evidence is the £218,500 sale of 27 Watton Road in September 2025, with an earlier £190,000 sale of the same property in March 2020. These are nearby same-road terraced comparables but not the subject property, and no floor area, specification or post-refurbishment details are supplied. A base GDV of £218,500 is therefore indicative only, with £190,000 used as a lower evidence point. The £120,000 guide indicates potential value margin, but full refurbishment costs are wholly unsupported.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led investment or resale project, but only proceed after a detailed inspection, refurbishment quotation, heating assessment and review of the special conditions and seller fees.

Works Required

Full refurbishment is stated as necessary. The scope should be confirmed by inspection and may include general internal refurbishment, kitchen, bathroom, decoration, flooring, services and EPC-related improvements, but no specific defects or costs are evidenced. Heating details also require confirmation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £120,000 guide, the acquisition price is below the £218,500 same-road comparable, but the property requires full refurbishment and no works budget is supplied. A 75% refinance against the indicative £218,500 GDV would be £163,875, but total project cost and cash left in cannot be calculated without refurbishment and applicable completion-cost information.

Buy-to-Let Analysis

Advertised asking rents supplied range from £450 to £650 pcm. The £650 evidence is for Watton rather than Swaffham, while the £450 evidence is in the wider PE37 area. This implies an indicative gross yield range of 4.5%–6.5% on the £120,000 guide, before refurbishment, finance, voids, management, maintenance and compliance costs. Achieved rent cannot be established.

Flip Analysis

A potential resale margin is indicated by the £218,500 same-road sale compared with the £120,000 guide. However, refurbishment costs, selling costs, finance costs and any seller-charged completion fees are unknown, so a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Full refurbishment is required, but no cost estimate or detailed condition survey is supplied.

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

• Heating details are to be confirmed by the auction centre.

• Rental evidence consists of advertised asking rents rather than achieved rents and includes a Watton comparison outside Swaffham.

• GDV evidence relates to 27 Watton Road rather than the subject property.

• The seller may charge additional completion fees under the special conditions, but the amount is not supplied.

• No maximum bid can be established without works, selling, finance and completion-cost assumptions.

Recommendation

Potential refurbishment-led investment or resale project, but only proceed after a detailed inspection, refurbishment quotation, heating assessment and review of the special conditions and seller fees.

Strategy Rating

Analysis Confidence

The guide price, tenure, accommodation, condition statement, one recent nearby comparable and asking-rent evidence are supplied, but refurbishment costs, floor area, achieved rent, heating details, buyer premium and possible seller fees are incomplete.