2 Bed Flat, Cash/Bridging Only, London, E15 1HH, £250,000

12A Albert Square, London, Greater London, E15 1HH - 21 views - a year ago

Cash
ROI: 8%
39 m²
+3 photos

ValuationOvervalued

Sold Prices£200K - £472.5K
Sold Prices/m²£2.6K/m² - £8.8K/m²

 

 

Square Metres

39 m²
Price/m²£6.4K/m²

Value Estimate

£235,773

 

 

End Value (After Refurb)

£244,375

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£20,632

Bridging Loan Interest

£6,563

Total Cash In

£100,145

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£244,375

Mortgage (After Refinance)

£183,281

Mortgage LTV

75%

Cash Left In

£100,145

Equity

£61,094

Rent Range

£1,495 - £3,000

Rent Estimate

£1,849

Running Costs/mo

£1,153

Cashflow/mo

£696

Cashflow/yr

£8,346

ROI

8%

Gross Yield

9%

Local Sold Prices

49 sold prices from £200K to £472.5K, average is £362K. £2.6K/m² to £8.8K/m², average is £6.1K/m².

PriceDateDistanceAddressBeds 
£410K01/230.04 mi61b, Albert Square, London, Greater London E15 1HJ2
£200K03/230.1 mi25, Carroll Close, London, Greater London E15 1RS2
£265K02/230.1 mi28, Carroll Close, London, Greater London E15 1RS2
£375K03/230.1 mi19, Gawsworth Close, London, Greater London E15 1RT2
£320K12/220.14 mi3, Globe Road, London, Greater London E15 1RF2
£332.5K05/210.16 mi39, Hatfield Road, London, Greater London E15 1RA2
£380K06/210.18 mi55b, Carnarvon Road, London, Greater London E15 4JW2
£324K01/230.23 mi23, Janson Close, London, Greater London E15 1TF2
£330K01/230.24 mi96, Maryland Street, London, Greater London E15 1JD2
£285K05/230.3 mi2d, Chobham Road, London, Greater London E15 1LU2
£365K02/230.3 mi47a, Earlham Grove, London, Greater London E7 9AN2
£370K10/200.37 mi25b, Maitland Road, London, Greater London E15 4EL2
£335K08/210.4 mi1, Waddington Street, London, Greater London E15 1QJ2
£325K02/230.43 mi28, Knox Road, London, Greater London E7 9HW2
£435K01/210.44 mi128, Chobham Road, London, Greater London E15 1LZ2
£406K02/210.45 mi4a, Bolton Road, London, Greater London E15 4JY2
£320K08/220.47 mi2a, Stork Road, London, Greater London E7 9HR2
£442.5K04/210.51 mi93, Clova Road, London, Greater London E7 9AG2
£415K01/210.53 mi119, Gerry Raffles Square, London, Greater London E15 1BQ2
£360K10/200.53 mi56, Gerry Raffles Square, London, Greater London E15 1BG2
£432.5K01/210.53 mi108, Earlham Grove, London, Greater London E7 9AS2
£390K06/210.54 mi6, Gerry Raffles Square, London, Greater London E15 1BG2
£380K06/210.54 mi31, Gerry Raffles Square, London, Greater London E15 1BG2
£375K12/220.54 mi9c, Macdonald Road, London, Greater London E7 0HE2
£367K10/210.56 mi1b, Aldworth Road, London, Greater London E15 4DN2
£385K02/210.56 mi1a, Aldworth Road, London, Greater London E15 4DN2
£341.5K06/210.56 mi1d, Aldworth Road, London, Greater London E15 4DN2
£435K07/210.56 miFlat A, 100, Selby Road, London, Greater London E11 3LR2
£365K06/230.63 mi9, Chopwell Close, London, Greater London E15 4RP2
£353K07/230.65 mi177a, Ham Park Road, London, Greater London E7 9LG2
£310K05/230.66 mi44, Moore Walk, London, Greater London E7 0HY2
£447.5K04/230.67 miFlat A, 122, Leslie Road, London, Greater London E11 4HG2
£472.5K05/230.67 mi112a, Millais Road, London, Greater London E11 4HA2
£362K11/210.73 mi108, Dames Road, London, Greater London E7 0EB2
£417K03/230.73 mi186, Dames Road, London, Greater London E7 0EB2
£215K10/210.74 mi239a, Ramsay Road, London, Greater London E7 9EX2
£400K12/220.75 mi1, Barnby Street, London, Greater London E15 4PY2
£325K08/210.75 mi9, Barnby Street, London, Greater London E15 4PY2
£305K04/230.76 mi100b, Portway, London, Greater London E15 3QJ2
£420K11/200.76 mi21a, Frith Road, London, Greater London E11 4EX2
£275K06/210.78 miFlat 5, Stafford Morris House, Church Street, Stratford, London, Greater London E15 3JY2
£360K06/210.79 mi29, Osborne Road, Forest Gate, London, Greater London E7 0PJ2
£360K12/200.8 mi75, Sidney Road, London, Greater London E7 0ED2
£432.5K06/210.8 mi39a, Avenue Road, London, Greater London E7 0LA2
£345K06/210.87 mi24, Park Road, London, Greater London E15 3QP2
£357.5K06/210.89 miGround Floor Flat, 18, St Georges Road, London, Greater London E7 8HY2
£338K08/210.99 mi14, Norman Road, London, Greater London E11 4PX2
£290K10/200.99 mi139b, Boleyn Road, London, Greater London E7 9QF2
£374K03/211 mi104b, Grove Green Road, London, Greater London E11 4EL2

Local Rents

50 rents from £1.5K/mo to £3K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£2,00003/240 mi-2
£1,75001/250.03 mi-2
£2,00003/250.03 mi-2
£1,85012/240.06 mi-2
£1,75004/240.09 miParkland Court, Maryland Park, Stratford, E152
£1,80003/240.09 miSaffron Court, Newham, London, E152
£1,80004/240.09 miSaffron Court, Newham, London, E152
£1,80004/240.09 miSaffron Court, Newham, London, E152
£1,80004/240.09 miSaffron Court, Newham, London, E152
£1,75005/240.09 mi-2
£1,75012/240.09 mi-2
£1,85002/250.09 mi-2
£1,90003/240.1 miKeogh Road, London2
£1,99512/240.1 mi-2
£2,10003/240.1 miMartha Road, Stratford, London, E152
£1,60003/240.12 miLuxembourg Mews, Stratford2
£2,00012/240.13 mi-2
£1,70004/240.13 miForest Lane, London, E152
£1,75004/240.13 miIbex House, Stratford, E152
£1,69003/250.15 mi-2
£1,85004/240.16 miHatfield Road, London, E152
£2,00004/240.17 miBarberry Court, Manbey Park, Stratford, E152
£2,05804/240.17 mi-2
£1,80004/240.18 miCarnarvon Road, Stratford, London, E152
£1,85003/240.19 miLeytonstone Road, London E152
£1,49502/240.19 mi-2
£3,00003/250.19 mi-2
£1,90003/240.19 miLeytonstone Road, London, E152
£1,85003/240.2 miLeytonstone Road, Stratford, London, E152
£2,00003/240.2 mi-2
£1,70004/240.21 mi-2
£1,80004/240.21 miJohn Barnes Walk, Stratford, E152
£1,80005/240.21 miJohn Barnes Walk, Stratford, E152
£1,80005/240.21 mi-2
£1,90004/240.23 mi-2
£2,40012/240.25 mi-2
£2,00001/250.25 mi-2
£1,90003/240.26 miMaldon Close, London, E15 1PR2
£1,70003/240.26 miMaldon Close, London, E15 1PR2
£1,60004/240.26 mi10 Maldon close, Lodnon, E15 1PR2
£2,80002/250.26 mi-2
£1,80004/240.26 miLeytonstone Road, Stratford, E152
£2,00003/240.26 miWell Street, Stratford, London, E152
£1,75012/240.27 mi-2
£1,95002/250.28 mi-2
£1,59503/240.29 miTrevelyan road, London, E152
£2,00002/240.3 mi-2
£1,90005/240.3 miFlat 6 1a Wingfield Road2
£2,80004/240.31 mi-2
£2,30002/250.32 mi-2

Local Area Statistics

Population in E15

52,199

Population in London

4,771,921

Town centre distance

5.14 miles away

Nearest school

0.10 miles away

Nearest train station

0.20 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Balanced market

Capital growth (5yrs)

+22%

Property History

Listed for £250,000

February 8, 2024

Sold for £166,500

2007

Sold for £131,000

2003

Sold for £79,650

2000

Floor Plans

Description

  • Share of freehold flat +
  • Moments from Maryland station +
  • A great project for DIY Enthusiasts +
  • Ideal opportunity for investors +
  • Access to a share of the garden +
  • EPC Grade D. Council Tax Band B. +

CASH BUYERS - TENANTS IN SITU. A first floor flat with a share of the freehold, located on the upper floor of a Period home is being offered for sale with no onward chain.

Set within walking distance of Maryland and Forest Gate overground stations, allowing commuters the freedom to travel into London's Liverpool Street within approximately 10 minutes, this home also provides access to Stratford International station, Westfield shopping centre and the various amenities available at Queen Elizabeth Olympic Park.

This home would make a fantastic purchase for those looking for a project. For further details and to arrange an internal inspection, call into the office today. EPC Grade D. Council Tax Band B.

This is a share of freehold. There is no service charge and the ground rent is £25/annum rising to £100/annum. Lease, ground rent and maintenance details have been provided by the seller, but their accuracy cannot be guaranteed, as we may not have seen a copy of the original lease. Should you proceed with the purchase of this property, lease details must be verified by the solicitor.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS: We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in every case.

PLA220222/2

Agent Details

Reeds Rains, Plaistow

020 3907 2697

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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