Cobden Cottage, Mellis Road, Eye, Suffolk, IP23 8DB

Description

An attractive semi detached house with garage and further parking. Situated in the delightful village of Yaxley just off the A140 and some 5 miles from Diss is this semi detached house requiring only superficial updating. The property offers two double bedroom accommodation with double glazing, oil central heating, and a good size garage to the rear along with further parking space. A first class investment opportunity priced keenly for the auction market.

Accommodation

Two double bedrooms; double glazing; garage to the rear; further parking space.

Location

Situated in the village of Yaxley, just off the A140 and approximately 5 miles from Diss.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Mellis Road range from £235,000 to £325,000, with other evidence at £260,000. However, bedroom counts, floor areas, condition and specification are not supplied, so direct comparison with this two-bedroom cottage is limited. A broad evidence-led GDV range of £235,000–£325,000 is used, with £260,000 as the base scenario rather than a formal valuation. The guide midpoint is £150,000, before the £1,200 buyer premium and £1,200 administration charge.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming condition, title, access, garage/parking arrangements and a local rental appraisal. At the guide midpoint the price appears potentially value-led against the supplied sales, but the weak rental evidence and unquantified costs make this unsuitable for a firm BTL or BRRRR decision without further due diligence.

Works Required

The description states that only superficial updating is required. Potential works are therefore limited to cosmetic updating, subject to inspection; no specific defects, repair scope or cost evidence is supplied. The garage, parking, double glazing and oil central heating should be checked during due diligence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £260,000 base GDV scenario, 75% refinance is £195,000. The acquisition guide midpoint plus the known £2,400 buyer and administration charges is £152,400 before works and other possible auction costs. Because no refurbishment cost or full acquisition-cost budget is supplied, cash left in and equity cannot be calculated reliably. The apparent refinance headroom is therefore indicative only and dependent on valuation, lending terms and condition.

Buy-to-Let Analysis

BTL economics cannot be reliably established. The only rental evidence is an advertised £625 pcm asking rent for a two-bedroom house in Beccles, not achieved rent for this property or Yaxley. Applying it directly would be unreliable, and no operating costs, finance costs or refurbishment budget are supplied. The guide price appears materially below the supplied local sales evidence, but this does not establish a rental yield.

Flip Analysis

The supplied comparable sales suggest potential resale value above the auction guide, but they are not sufficiently detailed to confirm comparability. A flip surplus cannot be calculated because no works cost, selling allowance, legal costs, finance costs or final purchase price is supplied. The £235,000–£325,000 evidence range should not be treated as a guaranteed resale value.

Investor Risks & Due Diligence

• Comparable sales may not be directly comparable because bedroom counts, floor areas, condition and specification are not provided.

• The only rental evidence is an advertised asking rent in Beccles rather than achieved rent in Yaxley.

• Superficial updating is described, but no inspection-based works scope or cost is available.

• Oil heating, garage, parking and double glazing require verification during due diligence.

• Buyer premium and administration charge total £2,400, with further possible auction and completion costs.

• Refinance depends on the lender's valuation, loan terms and property condition; the 75% GDV figure is illustrative only.

Recommendation

Proceed only after confirming condition, title, access, garage/parking arrangements and a local rental appraisal. At the guide midpoint the price appears potentially value-led against the supplied sales, but the weak rental evidence and unquantified costs make this unsuitable for a firm BTL or BRRRR decision without further due diligence.

Strategy Rating

Analysis Confidence

There are several recent same-road completed sales and clear auction charges, but the comparables lack bedroom, size and condition details; rental evidence is from another location, and no works budget, passing rent or full acquisition costs are supplied.