Pattinsons says ..

Property Oracle says ..

The property is located on Kirkley Cliff Road, Lowestoft, Suffolk. It’s a House of Multiple Occupation (HMO) currently listed for £390,000. The average house price in the area is £221,160, significantly lower than the list price. The average price per square foot is £244.00, but the property’s square footage is not provided, preventing a direct comparison.

The property appears to be a period property, showing features consistent with Victorian or Edwardian architecture. The exterior is predominantly brick, with some areas showing signs of recent repainting or rendering. However, the interior photos reveal that the property is in need of significant renovation. The rooms are largely stripped back to brickwork and require complete refurbishment. Flooring, plastering, and many fixtures are missing or damaged. The garden is present but appears unkempt and overgrown, containing debris and requiring considerable work.

The location is close to several schools, with St Mary’s Roman Catholic Primary School being the closest at 0.23 km. The proximity to Lowestoft train station (1.60 km) provides convenient access to public transportation. While the immediate surroundings appear to require some upkeep, the presence of nearby schools and transport links suggests a reasonably convenient location.

Given the condition of the property, requiring extensive renovation, the overgrown garden, and the significant difference between the list price and the average house price in the area, the list price of £390,000 appears high. Further investigation into the potential rental income from the property once renovated would be necessary to fully assess its value. However, based on the current state, the price seems less favorable compared to the average price in the area.

Therefore, we give this property 3 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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