98 Norbury Avenue, Thornton Heath, Surrey CR7 8AF

Description

A freehold mid-terrace house arranged over ground and first floors beneath a pitched and tiled roof. The ground floor is arranged as a central hallway with living room, kitchen/dining and bathroom off. The first floor is arranged as three bedrooms. The rear is a private garden.

Accommodation

Ground Floor: Living Room; Kitchen / Dining Room; Bathroom with WC and wash basin. First Floor: Three Bedrooms. External: Generous Rear Garden.

Location

Norbury Avenue is a residential street in the heart of Thornton Heath. Thornton Heath Station is around an 11 minute walk away and is served by Southern services. The High Street’s shops, cafés and everyday conveniences are close by, with Croydon University Hospital commutable on foot. St James The Great School is located on Windsor Road. Thornton Heath and Upper Norwood provide green space, and Crystal Palace Park is within easy reach.

Tenure / Property Information

Investment Analysis

The only supplied sold comparables are historic: £225,000 for this address in 2007 and £90,500 for 96 Norbury Avenue in 1999. They do not provide a reliable current market value. No current comparable sales, rental evidence, condition assessment or EPC is supplied. The £350,000+ guide should therefore not be treated as supported market value. The buyer fee is 1.8% including VAT, equivalent to £6,300 at the guide price, with potentially additional special-condition fees.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain current comparable sales, a full inspection, rental evidence and the special conditions before considering purchase.

Works Required

No specific defects or refurbishment requirements are evidenced. The property should be inspected before bidding to establish whether any works are required to the living room, kitchen/dining room, bathroom, bedrooms, roof, services or garden.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is unsupported because current GDV, rent, refurbishment cost and refinance value are unavailable. The historic sold evidence is too old to establish a refinance valuation. At the £350,000 guide, the buyer fee alone would be £6,300 before any other costs.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Gross yield, operating margin and debt-service coverage cannot be established. The 1.8% buyer fee and any special-condition fees would also increase acquisition cost.

Flip Analysis

A flip appraisal cannot be completed reliably. There is no current GDV evidence, no supported works budget and no supported selling-cost allowance. The historic £225,000 sale of this address in 2007 cannot be used as a current resale value.

Investor Risks & Due Diligence

• No reliable current market value evidence is supplied.

• No rental evidence is available, so investment yield cannot be established.

• Property condition and refurbishment requirements are not evidenced.

• Additional fees may be stated in the Special Conditions of Sale.

• The 1.8% buyer fee is payable in addition to the purchase price.

• Historic sold comparables may not reflect current Thornton Heath values.

Recommendation

Do not bid on the supplied evidence alone. Obtain current comparable sales, a full inspection, rental evidence and the special conditions before considering purchase.

Strategy Rating

Analysis Confidence

The evidence lacks current comparable sales, rent, condition, EPC, running-cost information, GDV support and complete auction-cost details; the available sales are historic and insufficient for current underwriting.