83 Long John Hill, Norwich, Norfolk

Description

This 1930's semi detached house is now vacant and in need of general updating and decoration. The property has been tenanted for many years and would be ideal for investment again or as a private residence for owner occupiers.

Accommodation

Ground Floor: Entrance hall, lounge, dining room, kitchen. First Floor: Landing, two bedrooms, bathroom.

Location

The property is within a mile of Norwich City centre and has excellent access to the railway station and Norwich Southern Bypass.

Tenure / Property Information

Investment Analysis

Recent same-road sales range from £230,000 to £250,000 in 2024–2025. With no comparable condition detail, a base GDV of £240,000 is used, with £230,000–£250,000 as an evidence-based scenario range. This is indicative only and not a formal valuation.

Investment Snapshot

Strategy Recommendation

Investigate as a potential BTL or BRRR purchase, subject to survey, EPC assessment, legal-pack review and a firm refurbishment budget. Do not bid above a calculated limit until these costs are known.

Works Required

General updating and decoration, subject to survey. EPC F should be investigated and any required improvement works costed. No specific defects or works costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Potentially suitable for a buy-refurbish-refinance strategy because it is vacant and requires general updating, but refurbishment cost, total project cost and finance assumptions are unsupported. A 75% refinance of the £240,000 base GDV indicates £180,000 gross refinance proceeds before finance and transaction costs.

Buy-to-Let Analysis

At the £200,000 midpoint of the guide, the single advertised £1,925 pcm asking rent implies approximately 11.55% gross yield before works, fees, finance, voids and management. This is asking-rent evidence only, not achieved rent, and refurbishment costs are unknown.

Flip Analysis

The recent same-road sales support an indicative £230,000–£250,000 resale range, with £240,000 base GDV. A flip surplus cannot be calculated because works costs and selling costs are not evidenced.

Investor Risks & Due Diligence

• EPC rating F may require additional improvement works.

• The property needs general updating and decoration, but no costed scope is supplied.

• The rent evidence is one advertised asking rent rather than achieved rent.

• Comparable sale condition and specification are not provided.

• Additional legal-pack disbursements and other purchaser charges may apply.

Recommendation

Investigate as a potential BTL or BRRR purchase, subject to survey, EPC assessment, legal-pack review and a firm refurbishment budget. Do not bid above a calculated limit until these costs are known.

Strategy Rating

Analysis Confidence

Recent same-road sold comparables and one advertised rent are available, but property condition detail, refurbishment costs, achieved rent, selling costs and legal-pack disbursements are incomplete.