44 St. Omer Close, Mulbarton, Norwich, Norfolk

Description

An ex-local authority three bedroom semi-detached house in need of updating. This vacant, ex-local authority three bedroom semi-detached house now requires a program of updating and redecoration to reach its full potential. The property, which is in a popular location, has good size gardens to the front and rear, with the benefit of off-road parking, there is ample space for further extension if required subject to planning permission. We consider this an exciting project and would be ideal for first time buyers, home movers, developers or investors.

Accommodation

Ground Floor: Hall, lounge, dining room, kitchen, bathroom, separate WC. First Floor: Landing, three Bedrooms. Outside: Front and rear garden, off-road driveway parking.

Location

The property is in a popular location.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £220,000 in 2021 to £292,000 in 2024. The £292,000 sale is the strongest recent evidence, but the comparables' condition, size and specification are not supplied. A cautious evidence-based scenario range is £220,000–£292,000, with £256,000 used as an indicative midpoint rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain the legal pack, inspection findings, refurbishment quotes and local rental evidence before considering a refurbishment-led resale or investment purchase.

Works Required

Updating and redecoration are expressly required. The exact scope, specification and cost are not supplied. Any extension would be subject to planning permission.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £256,000 base GDV, 75% refinance is approximately £192,000. Refurbishment costs, total project cost and cash left in cannot be calculated from the supplied evidence, so BRRR viability is unproven.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is available, so rent and yield cannot be established. The vacant status and required updating would also require capital expenditure before letting.

Flip Analysis

A potential resale range is supported by same-street sales of £220,000–£292,000, but refurbishment costs, purchase price achieved and selling costs are unavailable. Flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Current EPC rating G.

• Property requires updating and redecoration, with no costed scope supplied.

• No sufficiently specific rental evidence is available.

• Potential extension is subject to planning permission.

• Buyer premium and admin charge total £2,340, with possible additional legal-pack disbursements.

• Comparable property condition, size and specification are not supplied.

Recommendation

Do not bid on current evidence alone. Obtain the legal pack, inspection findings, refurbishment quotes and local rental evidence before considering a refurbishment-led resale or investment purchase.

Strategy Rating

Analysis Confidence

Recent same-street sales support a broad GDV range, but property condition, floor area, refurbishment costs, achievable rent and legal-pack disbursements are not supplied.