71 Wisbech Road, King's Lynn, Norfolk

Description

A three bedroom semi-detached house on the outskirts of Kings Lynn for cash buyers only. The property is located in South Lynn, within walking distance of Kings Lynn town centre, and possibly requires remedial work.

Accommodation

Ground floor: lounge and kitchen. First floor: three bedrooms and bathroom.

Location

Located in South Lynn near King's Lynn town centre, with its range of shopping facilities and mainline railway station.

Tenure / Property Information

Investment Analysis

The two supplied same-road freehold semi-detached comparables sold for £93,750 in 2014 and £95,000 in 2005. These historic transactions do not provide a reliable current GDV, particularly with the property possibly requiring remedial work and no floor area, condition schedule or current comparable evidence supplied. The £60,000 guide is not a valuation and is stated to be plus fees.

Investment Snapshot

Strategy Recommendation

Treat as a due-diligence-led cash purchase only. Obtain and review the legal pack, inspect the property and quantify remedial work before bidding; do not rely on the historic comparables to set a maximum bid.

Works Required

Allow for investigation and completion of any remedial work identified through inspection and the legal pack. The evidence does not specify the defects, scope or cost, so no detailed works budget can be supported. The current EPC rating is E, but no energy-improvement works are assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost, rent and total project costs are unsupported. The £60,000 guide plus the stated £1,800 buyer premium and £1,200 admin charge already implies at least £63,000 before any works, disbursements or other acquisition costs, but the total cost remains unknown.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is cash buyers only, and unknown remedial costs and other possible disbursements materially limit underwriting.

Flip Analysis

A flip assessment cannot be quantified. The available comparables are historic same-road sales, with the latest from 2014, and there is no current GDV, condition scope, refurbishment budget or supported selling-cost allowance. Any resale margin would therefore be speculative.

Investor Risks & Due Diligence

• Possible remedial work is mentioned but not specified or costed.

• No sufficiently specific rental evidence is available, preventing a supported yield assessment.

• The property is cash buyers only, restricting finance options.

• The historic comparables are too old to establish a reliable current market value.

• Buyer premium and admin charge total £3,000, with further possible legal-pack disbursements and other costs.

• Current EPC rating is E; no costed improvement plan is supplied.

Recommendation

Treat as a due-diligence-led cash purchase only. Obtain and review the legal pack, inspect the property and quantify remedial work before bidding; do not rely on the historic comparables to set a maximum bid.

Strategy Rating

Analysis Confidence

Core underwriting evidence is missing: current comparable sales, floor area, detailed condition, refurbishment costs, rental evidence, legal-pack disbursements and a current GDV.