3 Langton Close, Norwich, Norfolk

Description

Opportunity for investment to purchase a 5 bedroom HMO situated close to University in the city of Norwich currently yielding £25,200 pa. This extended semi detached BISF house is situated in a small cul-de-sac close to the UEA in the city of Norwich. This licenced HMO is currently let to students until the middle of November and offers 5 bedrooms, two on the ground floor with shower room, kitchen, sitting room and on the first floor there are three bedrooms, bathroom and separate shower room. The front garden provides access to the property with timber storage shed/bike store and the rear garden has been gravelled for easy maintenance. The property is well maintained throughout and makes a ready to go investment purchase yielding £25,200 pa (£2,100 pcm).

Accommodation

Ground floor: Entrance hall, sitting room, bedroom, kitchen, shower room, further bedroom, inner hall providing access to rear garden. First floor: Landing, three bedrooms, bathroom and separate shower room. Exterior: Front garden with large timber storage shed/bike store, west-facing rear garden which is gravelled for easy maintenance.

Location

Situated in a small cul-de-sac close to the UEA and University in the city of Norwich.

Tenure / Property Information

Investment Analysis

Direct Langton Close comparables sold for £178,000 and £210,000 in 2021. A base GDV of £194,000 is indicated, but the evidence is dated and the comparable property descriptions are not fully consistent with this five-bedroom HMO. The stated rent is £2,100 pcm, although occupancy information conflicts with the description.

Investment Snapshot

Strategy Recommendation

Prioritise as a buy-to-let HMO only if the licence, rent and occupancy position are verified. Do not rely on a flip or BRRRR strategy without full cost and legal-pack review.

Works Required

No refurbishment works are evidenced. Verify HMO licence, condition, fire-safety compliance, tenancy position and legal-pack requirements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the £194,000 base GDV would provide an indicative £145,500. Cash left in cannot be calculated reliably because refurbishment, finance, tax and other acquisition costs are unsupported.

Buy-to-Let Analysis

At the £160,000 guide midpoint, the stated £25,200 annual rent implies a gross yield of approximately 15.75%, before fees, finance, operating costs and voids. The rent is attractive if verified, but the property is described as both vacant and let to students until mid-November.

Flip Analysis

The evidence indicates a base GDV of £194,000, but refurbishment, selling costs and finance costs are not supplied. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Conflict between stated vacant occupancy and the description of a student letting until mid-November.

• The £2,100 pcm rent is not independently evidenced as passing rent.

• Comparable sales are dated 2021 and may not reflect current value.

• HMO licence, fire-safety compliance and legal-pack disbursements require verification.

• Buyer premium and total acquisition costs are not supplied.

• EPC rating is D.

Recommendation

Prioritise as a buy-to-let HMO only if the licence, rent and occupancy position are verified. Do not rely on a flip or BRRRR strategy without full cost and legal-pack review.

Strategy Rating

Analysis Confidence

Direct local sold comparables and stated rent are available, but sales are from 2021, refurbishment costs are absent, and occupancy information conflicts.