41 Warwick Street, Norwich, Norfolk

Description

An over the passage terrace house just a short walk from the city centre. This three bedroom terrace house has an over the passage style layout and is situated within the Golden Triangle. Having previously been a student let, the property has been well looked after and is now vacant and ready for immediate occupation.

Accommodation

Ground floor: living room, dining room, kitchen and shower room. First floor: three bedrooms and bathroom. Outside: small rear bisected garden with shed.

Location

Located within the Golden Triangle, just 1 mile from Norwich City Centre, within easy reach of local amenities, schooling and regular public transport.

Tenure / Property Information

Investment Analysis

Same-street freehold terraced comparables range from £190,000 to £415,000. The strongest recent cluster is £275,000–£310,000, but bedroom count, floor area and condition are not supplied for the comparables. A base GDV of £305,000 is therefore indicative only.

Investment Snapshot

Strategy Recommendation

Potential owner-occupier purchase or value-led resale, subject to survey, legal-pack review and confirmation of achievable resale value. Do not underwrite as a BTL without rental evidence.

Works Required

No specific refurbishment works are evidenced. The property is described as well looked after and ready for occupation; inspection and legal-pack review remain necessary.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the indicative £305,000 base GDV is £228,750. Purchase, works and total project costs cannot be established because refurbishment costs, finance costs and other completion costs are unsupported.

Buy-to-Let Analysis

BTL underwriting cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property’s previous student-let use is historical information, not evidence of current rent or occupancy demand.

Flip Analysis

The indicative base GDV is £305,000 against the £225,000 guide, but refurbishment, selling and total project costs are unavailable. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Wide spread in same-street comparable sales, from £190,000 to £415,000.

• No sufficiently specific rental evidence is available.

• Refurbishment requirements and costs are not evidenced.

• Additional legal-pack disbursements may be payable.

• Previous student-let use does not establish current rental income or demand.

Recommendation

Potential owner-occupier purchase or value-led resale, subject to survey, legal-pack review and confirmation of achievable resale value. Do not underwrite as a BTL without rental evidence.

Strategy Rating

Analysis Confidence

There are five same-street completed sales and a clear guide price, but comparable property details, rental evidence, condition survey, refurbishment costs and legal-pack disbursements are unavailable.