2 Bed Flat, Refurb/BRRR, Ilford, IG1 4SF, £250,000

Auckland Road, Ilford, IG1 4SF - 6 views - a year ago

Sold STC
Leasehold
Cash
Refurb/BRRR
ROI: 5%
~64 m²
+12 photos

ValuationFair Value

Sold Prices£138K - £554.8K
Sold Prices/m²£3.2K/m² - £7.6K/m²

 

 

Square Metres

~64.40 m²
Price/m²£3.9K/m²

Value Estimate

£255,000

 

 

End Value (After Refurb)

£312,548

Uplift in Value

+25%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£34,070

Bridging Loan Interest

£6,563

Total Cash In

£113,582

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£312,548

Mortgage (After Refinance)

£234,411

Mortgage LTV

75%

Cash Released

£46,911

Cash Left In

£66,671

Equity

£78,137

Rent Range

£1,500 - £2,300

Rent Estimate

£1,832

Running Costs/mo

£1,363

Cashflow/mo

£469

Cashflow/yr

£5,627

ROI

5%

Gross Yield

9%

Local Sold Prices

43 sold prices from £138K to £554.8K, average is £290K. £3.2K/m² to £7.6K/m², average is £5.1K/m².

PriceDateDistanceAddressBeds 
£554.8K06/210.23 mi81, Wellesley Road, Ilford, Greater London IG1 4LJ2
£325K04/210.25 mi16b, Valentines Road, Ilford, Greater London IG1 4SA2
£305K12/200.35 mi16a, Bathurst Road, Ilford, Greater London IG1 4LA2
£400K09/220.38 mi115a, Thorold Road, Ilford, Greater London IG1 4EZ2
£296K08/210.4 mi78a, Wellesley Road, Ilford, Greater London IG1 4JZ2
£360K06/210.41 mi73, Balfour Road, Ilford, Greater London IG1 4HR2
£350K06/230.41 mi61a, Balfour Road, Ilford, Greater London IG1 4HR2
£250K12/200.43 mi63, Lynn Road, Ilford, Greater London IG2 7DU2
£230K04/230.43 mi46, Dellow Close, Ilford, Greater London IG2 7EB2
£275K05/230.47 mi75, Dellow Close, Ilford, Greater London IG2 7ED2
£322K03/230.52 miFlat 38, De Havilland Square, Piper Way, Ilford, Greater London IG1 4DE2
£215K02/210.55 mi4, Friars Close, Ilford, Greater London IG1 4AZ2
£305K10/220.55 mi19, Friars Close, Ilford, Greater London IG1 4AZ2
£277K12/220.55 mi50, Friars Close, Ilford, Greater London IG1 4AZ2
£280K06/230.55 mi61, Friars Close, Ilford, Greater London IG1 4AZ2
£283K07/210.57 mi61, Piper Way, Ilford, Greater London IG1 4FE2
£375K09/220.58 mi6, Bramley Crescent, Ilford, Greater London IG2 6DA2
£160K02/210.58 mi12, Centreway, Ilford, Greater London IG1 1ND2
£295K06/210.6 mi24a, Cowley Road, Ilford, Greater London IG1 3JL2
£305K03/230.61 mi8, Royal Crescent, Newbury Park, Ilford, Greater London IG2 7NH2
£305K04/230.61 mi2, Royal Crescent, Newbury Park, Ilford, Greater London IG2 7NH2
£290K05/220.62 mi65, Stainforth Road, Ilford, Greater London IG2 7EL2
£515K05/210.64 mi115, Northbrook Road, Ilford, Greater London IG1 3BL2
£291K08/220.65 mi862, Eastern Avenue, Ilford, Greater London IG2 7HY2
£282.5K07/210.65 mi58a, Vicarage Lane, Ilford, Greater London IG1 4AN2
£266.5K04/220.68 miFlat 54, Hastingwood Court, Youngs Road, Ilford, Greater London IG2 7LF2
£295K12/200.7 mi45b, Endsleigh Gardens, Ilford, Greater London IG1 3EQ2
£270K12/220.71 miFlat 152, Courtney Towers, Glebelands Avenue, Ilford, Greater London IG2 7DJ2
£138K07/210.72 mi33d, Grosvenor Road, Ilford, Greater London IG1 1LD2
£290K11/220.74 mi21, Connaught Road, Ilford, Greater London IG1 1RL2
£218.2K12/220.75 mi139, Aldborough Road South, Ilford, Greater London IG3 8HT2
£200K05/220.75 mi44a, Gaysham Avenue, Ilford, Greater London IG2 6TJ2
£360K03/210.78 mi40c, York Road, Ilford, Greater London IG1 3AF2
£305K02/210.78 mi161, Aldborough Road South, Ilford, Greater London IG3 8HU2
£235K06/210.81 miFlat 30, Beehive Court, Beehive Lane, Ilford, Greater London IG1 3RR2
£280K01/210.81 mi78a, Devere Gardens, Ilford, Greater London IG1 3EE2
£290K12/220.82 mi25, Meath Road, Ilford, Greater London IG1 1JA2
£290K10/220.82 miFlat 2, Foresters, Veronique Gardens, Ilford, Greater London IG6 1AR2
£280.3K06/210.82 mi11, Abbey Road, Ilford, Greater London IG2 7NE2
£325K07/210.84 mi4a, Loudoun Avenue, Ilford, Greater London IG6 1AT2
£325K03/210.87 mi12, Charles Church Walk, Ilford, Greater London IG1 3RZ2
£270K06/210.99 mi10, Oaks Lane, Ilford, Greater London IG2 7PL2
£320K08/221 mi37, Poplar Way, Ilford, Greater London IG6 1EN2

Local Rents

50 rents from £1.5K/mo to £2.3K/mo, average is £1.8K/mo.

RentDateDistanceAddressBeds 
£1,70004/250.25 mi-2
£2,00002/250.28 mi-2
£2,00002/250.28 mi-2
£2,00002/250.28 mi-2
£2,00003/250.28 mi-2
£2,00003/250.28 mi-2
£1,50004/250.33 mi-2
£1,90012/240.37 mi-2
£1,80004/240.37 mi-2
£1,50003/250.37 mi-2
£1,80002/250.39 mi-2
£2,30002/250.4 mi-2
£1,95004/240.41 mi-2
£2,15012/240.41 mi-2
£1,80012/240.42 mi-2
£1,80003/250.42 mi-2
£1,80004/250.42 mi-2
£1,50004/240.42 miEastern Avenue, Gants Hill, Newbury Park, Ilford, Essex, IG22
£1,75012/240.43 mi-2
£1,85004/250.44 mi-2
£2,00006/240.46 mi-2
£1,70003/250.47 mi-2
£1,70002/240.47 mi-2
£1,62512/240.47 mi-2
£1,70012/240.47 mi-2
£1,70012/240.47 mi-2
£1,54502/250.48 mi-2
£1,80012/240.49 mi-2
£1,75002/250.49 mi-2
£1,75003/250.5 mi-2
£1,75003/250.5 mi-2
£1,50004/240.52 miIlford, IG42
£1,55012/240.52 miIlford2
£1,90004/250.52 mi-2
£1,80004/250.52 mi-2
£1,65003/250.53 mi-2
£1,65002/250.53 mi-2
£1,50004/250.54 mi-2
£1,60012/240.54 mi-2
£2,00004/250.54 mi-2
£1,82502/250.55 mi-2
£1,95012/240.55 mi-2
£2,20012/240.55 mi-2
£2,30004/240.55 miCityview Centreway Apartments, Ilford, IG12
£1,80003/250.55 mi-2
£1,90004/250.55 mi-2
£1,72501/250.55 mi-2
£2,00012/240.55 mi-2
£1,72512/240.55 mi-2
£1,80003/250.55 mi-2

Local Area Statistics

Population in IG1

63,569

Population in Ilford

181,468

Town centre distance

0.72 miles away

Nearest school

0.30 miles away

Nearest train station

0.73 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+28%

Property History

Listed for £250,000

April 3, 2024

Floor Plans

Description

  • Ideally Cash Buyers! +
  • Two Bedroom First Floor Flat +
  • Spacious Lounge / Diner +
  • Off Street Parking For One Car +
  • Own Section Of Garden +
  • 139 Year Lease +
  • Needs Some Modernisation +
  • Blank Canvas +
  • Valentines Park +
  • Gants Hill & Ilford Stations +

Guide Price £250,000 - £275,000 This two bedroom first floor conversion flat, backing onto Valentines Park in need of some modernisation and selling chain free.

This property comprise of a spacious lounge / diner, two bedrooms, modern bathroom, kitchen with a balcony, own section of rear garden and off street parking to front. The property overall requires some modernisation and would be ideal for anyone looking for a property to put their own stamp on.

The location is Prime for Valentines Park, Gants Hill & Ilford Stations and an Outstanding School Catchment.

For more information or to arrange a viewing please get in touch.

Agent Details

haart, Ilford

020 3840 3859

Next Steps?

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