22 Station Road, Ten Mile Bank, Downham Market, Norfolk PE38 0ES

Description

A three bedroom semi-detached house in need of remedial work for cash buyers only. This semi-detached house is in need of remedial work and would appeal to cash buyers only. The property requires full modernisation.

Accommodation

Ground floor: lounge, kitchen, study and bathroom. First floor: three bedrooms. Outside: gardens to front and rear.

Location

Ten Mile Bank is located approximately 6 miles from Downham Market with its range of amenities and train station on the King’s Lynn to London Kings Cross line via Cambridge.

Tenure / Property Information

Investment Analysis

Sold evidence ranges from £160,000 to £230,000 for semi-detached properties on Station Road, but sales are dated and property-specific size/condition details are unavailable. A cautious midpoint scenario is £195,000, with £160,000 low and £230,000 high. Full modernisation costs cannot be established from the evidence.

Investment Snapshot

Strategy Recommendation

Proceed only as a cash-funded refurbishment opportunity after inspection and legal-pack review; do not rely on the indicative GDV or rent without costing the works.

Works Required

Full modernisation and remedial work as described, including updating the accommodation and finishes. Specific defects and costs are not evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A refinance at 75% of the indicative £195,000 base GDV would be £146,250. However, refurbishment costs, total project cost and finance assumptions are unavailable, so cash left in and BRRR viability cannot be calculated.

Buy-to-Let Analysis

The only rental evidence is an advertised £1,051 pcm for a three-bedroom house in Nordelph, not an achieved rent and not the subject location. This implies £12,612 annual gross rent and 31.53% against the £40,000 guide, but a reliable yield cannot be established without refurbishment and total-cost figures.

Flip Analysis

The dated local sold evidence supports an indicative £160,000–£230,000 GDV range, with £195,000 as a cautious midpoint. Flip surplus cannot be calculated because refurbishment costs and selling costs are unsupported.

Investor Risks & Due Diligence

• Property requires full modernisation and remedial work.

• Sale is stated to be for cash buyers only.

• Buyer premium and administration charge total £3,000, with possible additional disbursements and special-condition fees.

• Comparable sales are dated and may not reflect the subject property's condition or current market value.

• Rental evidence is an advertised asking rent in Nordelph rather than an achieved rent for the subject property.

Recommendation

Proceed only as a cash-funded refurbishment opportunity after inspection and legal-pack review; do not rely on the indicative GDV or rent without costing the works.

Strategy Rating

Analysis Confidence

There is local sold-price evidence and one rental asking figure, but no refurbishment quote, detailed condition survey, achieved rent, current comparable sales or complete fee schedule.