7 Severn Road, Bury St. Edmunds, Suffolk, IP32 6NG

Description

Vacant freehold semi-detached house by order of a housing association. The property comprises two reception rooms, kitchen, three bedrooms, bathroom and rear garden. GIA approximately 82.77 sq m (891 sq ft).

Accommodation

Ground floor: two reception rooms and kitchen. First floor: three bedrooms and bathroom. Rear garden. GIA approximately 82.77 sq m (891 sq ft).

Location

Located on the south east side of Severn Road. Shops and amenities of Bury St Edmunds are to the south. Bury St Edmunds rail station is approximately 1.3 miles to the south east. The A14 is to the south. Hengrave Park is to the north west.

Tenure / Property Information

Investment Analysis

The available same-road sold evidence comprises £225,000 in November 2020 and £242,000 in June 2018, with older sales at £175,000, £145,000 and £166,000. A base GDV of £233,500 is used as the average of the two most recent supplied comparables, with a low-to-high evidence range of £225,000–£242,000. This is indicative only because the sales are historic and the subject property's condition is not provided.

Investment Snapshot

Strategy Recommendation

Conditional BTL or owner-occupier purchase subject to viewing, survey and confirmation that the achieved rent supports the price. Do not rely on the apparent GDV spread or BRRR refinance without current valuation and full costings.

Works Required

No specific repair or refurbishment works are evidenced. A viewing, survey and inspection of the vacant house, kitchen, bathroom, services and garden are required before allowing for works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, the 75% refinance indication on the £233,500 base GDV is £175,125. Cash retained or released cannot be calculated because refurbishment, acquisition and other project costs are unavailable. The dated comparable evidence and unknown condition make the refinance outcome uncertain.

Buy-to-Let Analysis

Using the supplied advertised asking rents of £975–£1,350 pcm, annual gross rent is £11,700–£16,200. Against the £195,000 guide, the gross yield range is approximately 6.00%–8.31%. These are asking rents rather than achieved rents, and no works, buyer costs, finance costs or operating costs are supplied, so net yield and total-cost yield cannot be established.

Flip Analysis

The indicative base GDV is £233,500 against the £195,000 guide, giving a gross price-to-GDV difference of £38,500 before refurbishment, acquisition, finance, selling and tax costs. A reliable flip surplus cannot be calculated because works and selling allowances are not supplied.

Investor Risks & Due Diligence

• Same-road comparable sales are historic, with the latest supplied sale dated November 2020.

• Property condition and required works are not evidenced despite the vacant sale.

• Rental figures are advertised asking rents, not achieved rents.

• Buyer, administration, finance, operating and selling costs are not supplied.

• EPC, council tax, parking and heating information are unavailable.

• Additional seller or third-party charges may apply.

Recommendation

Conditional BTL or owner-occupier purchase subject to viewing, survey and confirmation that the achieved rent supports the price. Do not rely on the apparent GDV spread or BRRR refinance without current valuation and full costings.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, guide price, two recent historic same-road sales and two advertised rents are supplied, but current valuation evidence, condition, refurbishment costs, buyer fees, EPC and achieved rental evidence are absent.