Summary - 1 RACHEL CLOSE NORWICH NR5 8JF
4 bed 1 bath Semi-Detached
Close-to-campus rental with immediate income and clear upgrade potential.
- Immediate income: currently let at £1,300 pcm until Sept 2025
- Extremely close to UEA and Norwich University Hospital
- Freehold with detached concrete garage and off-street parking
- Gas central heating (recent combi boiler) and double glazing
- Attic boarded and insulated with retractable ladder for storage
- Requires internal modernisation to reach higher rental value
- Non-standard construction; may limit mortgage lending (cash buyers suitable)
- Located in a deprived area with higher local crime rate
An immediately income-producing semi-detached house in NR5, currently tenanted until September 2025 and let to four medical staff producing £1,300 pcm. The location — extremely close to the University of East Anglia and Norwich University Hospital — keeps demand high from students and workers, supporting steady lettings and letting-room flexibility.
The property requires internal modernisation; the vendor describes dated fittings and reduced rent historically because of condition. Renovating kitchens/bathrooms and updating decor would materially increase rental yield — comparable refurbished homes nearby achieve over £1,800 pcm. The attic is boarded and insulated, providing practical storage, and a recent combi boiler supplies central heating.
Practical positives include freehold tenure, detached concrete garage, off-street parking for two vehicles, front and rear gardens, double glazing and fast broadband/mobile signal. Notable constraints: the house is non-standard construction (cash buyer recommended), is in a deprived area with a higher local crime rate, and needs renovation works and possible compliance checks depending on future use.
For an investor this is a clearly defined value play: buy with immediate income, carry modest upgrades to push rents to market levels, or retain as-is for hands-off tenancy income. For buyers who require mortgage finance, check lending eligibility early because of the non-standard construction note.
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