77 High Road, Tilney Cum Islington, King's Lynn, Norfolk

Description

A three bedroom semi-detached house in possible need of remedial work for cash buyers only. This semi-detached house requires full modernisation and possible remedial work for cash buyers only.

Accommodation

Ground floor: lounge, kitchen and shower room. First floor: three bedrooms. Outside: gardens to front and rear.

Location

Situated within the rural village of Tilney Cum Islington, approximately six miles from King's Lynn. King's Lynn offers a wide range of facilities including a shopping centre, restaurants, cinema and leisure facilities. There is a main line rail link to Cambridge and London King's Cross.

Tenure / Property Information

Investment Analysis

Indicative GDV is based on the closest same-road semi-detached comparables: £205,000 in 2021 and £256,500–£265,000 in 2022. The £375,000 and £647,500 sales are materially higher and are not sufficiently supported as representative for this property. No floor area, internal condition detail or current-market evidence is supplied, so the GDV range is indicative only.

Investment Snapshot

Strategy Recommendation

Do not bid without a full inspection, remedial assessment and contractor quotations. The apparent value gap may offer potential, but the cash-buyer requirement, full-modernisation wording and missing rental and cost evidence make this unsuitable for an uncosted purchase.

Works Required

Full modernisation is stated as required, with possible remedial work. The scope and cost should be established by a detailed inspection and contractor quotations before bidding. No specific defects or works can be assumed from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative base GDV of £256,500, 75% refinancing equates to £192,375. However, refurbishment costs, finance costs, valuation criteria and total acquisition costs are unknown, so the residual cash requirement and viability cannot be calculated. Cash purchase funding is specifically required by the auction description.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The property requires full modernisation and is offered for cash buyers only, so refurbishment and funding costs would materially affect the investment case.

Flip Analysis

The indicative resale value is supported by same-road semi-detached sales between £205,000 and £265,000, excluding the materially higher £375,000 and £647,500 transactions as insufficiently representative. A flip surplus cannot be calculated because refurbishment costs, selling costs and other completion costs are unsupported.

Investor Risks & Due Diligence

• Full modernisation is stated as required.

• Possible remedial work is identified but not defined or costed.

• Cash buyers only, potentially restricting funding and requiring substantial upfront capital.

• No sufficiently specific rental evidence is available.

• Buyer premium and admin charge total £3,000, with further possible legal, search, seller-cost, transfer and other disbursements.

• Comparable sale evidence is widely varied and does not establish a precise current GDV.

• Current EPC rating is E.

Recommendation

Do not bid without a full inspection, remedial assessment and contractor quotations. The apparent value gap may offer potential, but the cash-buyer requirement, full-modernisation wording and missing rental and cost evidence make this unsuitable for an uncosted purchase.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and clear tenure/property-type evidence, but the comparables vary significantly, are dated, and there is no floor area, detailed condition report, rental evidence, refurbishment budget or complete fee schedule.