69 Mundesley Road, North Walsham, Norfolk

Description

A fantastic opportunity to acquire a substantial four-bedroom detached family home positioned on the sought-after Mundesley Road in North Walsham. Offering generous living accommodation and excellent potential, this property is ideal for families. The property provides well-proportioned and versatile accommodation arranged over two floors. To the ground floor, there is a welcoming entrance hall leading to a spacious living room, a separate dining room, and a fitted kitchen/diner, utility room, study, shower room and conservatory with access to the generous rear garden. Upstairs, the first floor comprises four bedrooms, including a generous principal bedroom, along with a family bathroom. Situated within short walk of the town centre where a variety of amenities can be found. This property is perfectly suited to a growing family or investment.

Accommodation

Ground Floor: Entrance Hall, kitchen/diner, utility room, lounge, dining area, study, shower room, conservatory. First Floor: Landing, four bedrooms, family bathroom. Exterior: Brick waved parking for numerous vehicles, pedestrian gated access to enclosed rear garden. To the rear of the property there is a generous enclosed rear garden, two storage sheds, raised garden pond, raised beds, mature trees and shrubs and lawned areas.

Location

North Walsham offers a variety of high street shops, supermarkets, banks, business and leisure facilities. Good road links provide access to the sought after North Norfolk coast and resorts of Cromer, Sheringham where a further array of facilities may be found and of course wonderful beaches.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Mundesley Road range from £420,000 to £550,000, with four of five sales between £420,000 and £450,000. A base GDV of £450,000 is used, with a low scenario of £425,000 and a high scenario of £550,000. The comparables are detached freehold properties on the same road, but no floor areas, condition details or direct comparability information are supplied. The £325,000 guide is below these completed sales, subject to auction terms, condition and any additional seller costs.

Investment Snapshot

Strategy Recommendation

Potentially suitable for owner occupation or BTL if condition is sound and the £3,000 pcm asking-rent evidence is independently validated. Obtain legal, survey and special-conditions information before bidding; do not rely on the headline GDV margin for a flip.

Works Required

No specific repair or refurbishment works are evidenced. Obtain a full survey, inspect the heating system, services, roof, windows, kitchen, bathrooms, conservatory and external areas before committing to works or a bid.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £325,000 guide, 75% of the £450,000 base GDV is £337,500. However, refurbishment costs, full acquisition costs, finance costs and actual achievable refinance value are not evidenced, so cash left in and equity cannot be reliably calculated. The strategy depends on survey results and lender valuation.

Buy-to-Let Analysis

The advertised asking rent of £3,000 pcm implies £36,000 annual gross rent and an 11.08% gross yield against the £325,000 guide. This is based on an advertised asking rent rather than achieved rent, and no operating costs, finance costs, refurbishment allowance or full acquisition costs are supplied, so net yield and yield on total cost cannot be established.

Flip Analysis

The base GDV is estimated at £450,000 against the £325,000 guide, but no refurbishment budget, complete purchase costs, finance costs or supported selling allowance are available. A reliable flip surplus therefore cannot be calculated. The apparent guide-to-GDV margin should not be treated as profit.

Investor Risks & Due Diligence

• Property condition and required works are not evidenced.

• The £3,000 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Seller-imposed completion fees may apply but are not quantified.

• Full purchase, finance, operating and selling costs are unavailable.

• Comparable sale sizes, specifications and condition are not supplied, limiting GDV precision.

• Auction purchase is subject to legal documentation and special conditions not provided.

Recommendation

Potentially suitable for owner occupation or BTL if condition is sound and the £3,000 pcm asking-rent evidence is independently validated. Obtain legal, survey and special-conditions information before bidding; do not rely on the headline GDV margin for a flip.

Strategy Rating

Analysis Confidence

Same-road completed sales, guide price and one advertised rental listing are supplied, but there is no condition report, floor area, achieved rent, refurbishment budget, full fee schedule or finance information.