39 Bunnett Avenue, King's Lynn, Norfolk

Description

An end of terrace house in need of possible remedial work for cash buyers only. This three bedroom end of terrace house is conveniently located within walking distance of Kings Lynn town centre. The property requires possible remedial work and full renovation for cash buyers only.

Accommodation

Ground floor: lounge, kitchen and WC. First floor: three bedrooms and a bathroom.

Location

The house is located in South Lynn near to the town centre with its range of shopping facilities and mainline railway station.

Tenure / Property Information

Investment Analysis

Completed sales on the same avenue range from £123,000–£145,000 for terraced houses, with the latest supplied sale at £145,000 in October 2023. The comparables do not provide floor area, bedroom count or condition, while this property requires possible remedial work and full renovation. An indicative GDV range of £123,000–£145,000 is therefore used, with £135,000 as a cautious base estimate rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and obtaining a suitable inspection/contractor assessment. Treat this as a high-uncertainty cash renovation opportunity; do not rely on the guide price or GDV without a quantified works budget. No bid ceiling can be supported from the supplied evidence.

Works Required

Full renovation and any remedial works identified by a qualified inspection, including reviewing the kitchen, bathroom, decoration and general condition. No specific defects or quantified scope are evidenced, so a reliable works allowance cannot be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten reliably without a quantified refurbishment budget, rental evidence, finance costs and a confirmed post-works valuation. At the £135,000 base GDV, 75% refinance would be approximately £101,250, but total project cost and resulting cash left in are not calculable.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is also described as requiring possible remedial work and full renovation, so its lettable condition is uncertain. Known buyer premium and admin charge total £3,000 before any disbursements or other legal-pack costs.

Flip Analysis

The supplied same-street sales support an indicative resale range of £123,000–£145,000, subject to condition and comparability. A flip surplus cannot be calculated because refurbishment costs, selling costs and any additional auction/legal-pack charges are unsupported. The £60,000 guide plus known £3,000 buyer/admin charges is before works and other possible costs.

Investor Risks & Due Diligence

• Full renovation and possible remedial work are described but not quantified.

• No reliable rental evidence is available, preventing BTL yield analysis.

• Comparable sales lack confirmed bedroom count, floor area and condition details.

• Buyer premium and admin charge are known, but further disbursements and special-condition costs may apply.

• Cash buyers only may restrict financing options and increase completion funding risk.

Recommendation

Proceed only after reviewing the legal pack and obtaining a suitable inspection/contractor assessment. Treat this as a high-uncertainty cash renovation opportunity; do not rely on the guide price or GDV without a quantified works budget. No bid ceiling can be supported from the supplied evidence.

Strategy Rating

Analysis Confidence

Same-street completed sales and the guide-related buyer charges are supplied, but there is no quantified condition report, refurbishment estimate, rental evidence, floor area, detailed comparable specification or complete legal-pack cost information.