2 Bed Flat, Refurb/BRRR, London, E4 6AY, £400,000

Forest House, Crescent Road, London, E4 6AY - a year ago

Sold STC

Refurb/BRRR

~75 m²

+7 photos

ValuationOvervalued

Sold Prices	£250K - £455K
Sold Prices/m²	£3.2K/m² - £6.8K/m²

Square Metres	~74.80 m²
Price/m²	£5.3K/m²
Value Estimate	£387,920£387,920

End Value (After Refurb)	£486,200£486,200
Uplift in Value	+22%+22%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£100,000£100,000
Stamp Duty & Legal Fees	£28,700£28,700
Refurb Costs	£39,572£39,572
Bridging Loan Interest	£10,500£10,500
Total Cash In	£180,522£180,522

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£486,200£486,200
Mortgage (After Refinance)	£364,650£364,650
Mortgage LTV	75%75%
Cash Released	£64,650£64,650
Cash Left In	£115,872£115,872
Equity	£121,550£121,550
Rent Range	£1,500 - £2,400£1,500 - £2,400
Rent Estimate	£1,779
Running Costs/mo	£1,895£1,895
Cashflow/mo	£-116£-116
Cashflow/yr	£-1,394£-1,394
Gross Yield	5%5%

Local Sold Prices

25 sold prices from £250K to £455K, average is £380K. £3.2K/m² to £6.8K/m², average is £5.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£390K	06/23	0.08 mi	Flat 2, Cavendish Court, Gordon Road, London, Greater London E4 6DL	-	-	2	Flat
£390K	06/21	0.12 mi	1a, Forest Avenue, London, Greater London E4 6AR	£5,270	74	2	Flat
£402.5K	08/21	0.25 mi	9, Farnley Road, London, Greater London E4 7AD	£6,289	64	2	Flat
£402.5K	08/21	0.25 mi	9, Farnley Road, London, Greater London E4 7AD	£6,289	64	2	Flat
£375K	10/21	0.41 mi	53, Queens Grove Road, London, Greater London E4 7BT	£6,818	55	2	Flat
£425K	10/20	0.43 mi	19b, Buxton Road, London, Greater London E4 7DP	-	-	2	Flat
£320K	05/21	0.45 mi	Flat 46, Seymour Court, Whitehall Road, London, Greater London E4 6DZ	-	-	2	Flat
£370K	12/22	0.59 mi	17, The Cedars, Buckhurst Hill, Essex IG9 5TS	£5,692	65	2	Flat
£380K	01/21	0.61 mi	21, The Cedars, Buckhurst Hill, Essex IG9 5TS	£6,479	59	2	Flat
£365K	02/21	0.61 mi	18, The Cedars, Buckhurst Hill, Essex IG9 5TS	£3,724	98	2	Flat
£345K	12/20	0.62 mi	19, Top House Rise, London, Greater London E4 7EE	£4,742	73	2	Flat
£360K	12/20	0.68 mi	42, Woodland Road, Chingford, London, Greater London E4 7EU	£5,538	65	2	Flat
£275K	12/20	0.7 mi	11, Woodland Road, London, Greater London E4 7ET	-	-	2	Flat
£395K	12/22	0.7 mi	Flat 10, Bowyer Court, The Ridgeway, Chingford, London, Greater London E4 6UH	-	-	2	Flat
£320K	02/21	0.78 mi	Flat 42, Forest Heights, Epping New Road, Buckhurst Hill, Essex IG9 5TE	-	-	2	Flat
£408K	09/22	0.78 mi	Flat 43, Forest Heights, Epping New Road, Buckhurst Hill, Essex IG9 5TE	-	-	2	Flat
£380K	07/23	0.82 mi	26, Shingly Place, London, Greater London E4 6AE	£5,352	71	2	Flat
£405K	02/23	0.82 mi	66, Shingly Place, London, Greater London E4 6AE	£5,192	78	2	Flat
£345K	02/23	0.84 mi	Flat 27, Block A, Ardmore Lane, Buckhurst Hill, Essex IG9 5RY	-	-	2	Flat
£250K	06/21	0.94 mi	14, Epping Glade, London, Greater London E4 7PQ	£3,247	77	2	Flat
£340K	05/23	0.94 mi	12, Epping Glade, London, Greater London E4 7PQ	-	-	2	Flat
£380K	03/21	0.96 mi	Flat 1, Knighton Green, High Road, Buckhurst Hill, Essex IG9 5HD	-	-	2	Flat
£380K	03/21	0.96 mi	Flat 1, Knighton Green, High Road, Buckhurst Hill, Essex IG9 5HD	-	-	2	Flat
£455K	02/23	0.99 mi	690, High Road, Buckhurst Hill, Greater London IG9 5HN	-	-	2	Flat
£320K	06/21	1 mi	Flat 21, Greenhill, High Road, Buckhurst Hill, Essex IG9 5SH	-	-	2	Flat

Local Rents

28 rents from £1.5K/mo to £2.4K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,750	05/24	0.02 mi	Chingford, E4	2	Flat
£2,100	12/24	0.1 mi	-	2	Flat
£1,850	12/24	0.1 mi	-	2	Flat
£1,750	03/24	0.13 mi	Crescent Road, North Chingford	2	Flat
£1,650	03/24	0.22 mi	Woodedge Close, London, E4	2	Flat
£1,650	03/24	0.24 mi	Farnley Road, London	2	Flat
£1,650	03/24	0.24 mi	Farnley Road, London, E4	2	Flat
£1,800	12/23	0.29 mi	-	2	Flat
£1,500	03/24	0.31 mi	The Drive, Chingford	2	Flat
£1,795	03/24	0.31 mi	north Chingford	2	Flat
£1,900	03/24	0.32 mi	Garfield Road, North Chingford, E4	2	Flat
£2,300	03/24	0.33 mi	Grosvenor Heights, Forest View, North Chingford	2	Flat
£2,300	04/24	0.33 mi	Grosvenor Heights, Forest View, North Chingford	2	Flat
£2,300	05/24	0.33 mi	Grosvenor Heights, Forest View, North Chingford	2	Flat
£1,750	02/25	0.37 mi	-	2	Flat
£1,750	02/25	0.38 mi	-	2	Flat
£1,575	04/24	0.39 mi	Whitehall Road, Chingford	2	Flat
£1,575	04/24	0.39 mi	Whitehall Road, Chingford	2	Flat
£1,575	05/24	0.4 mi	Thaxton Place, Chingford, E4	2	Flat
£2,400	04/24	0.43 mi	Buxton Road, Chingford E4	2	Terraced House
£1,595	03/24	0.45 mi	-	2	Flat
£1,600	05/24	0.45 mi	-	2	Flat
£1,600	12/24	0.45 mi	-	2	Flat
£1,600	12/24	0.45 mi	-	2	Flat
£1,600	04/24	0.45 mi	Seymour Court, London, E4	2	Flat
£1,600	04/24	0.46 mi	Seymour Court, Whitehall Road, Chingford	2	Flat
£1,650	12/24	0.47 mi	-	2	Flat
£1,650	03/24	0.51 mi	Friday Hill, The Croft, E4	2	Flat

Local Area Statistics

Population in E4	60,22560,225
Population in London	4,771,9214,771,921
Town centre distance	8.88 miles away8.88 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.20 miles away0.20 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+13%+13%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+26%+26%

Property History

Price changed to £400,000

November 14, 2024

Listed for £415,000

April 24, 2024

Floor Plans

Description

SHARE OF FREEHOLD +
GARAGE EN BLOC PLUS RESIDENT PARKING +
AMAZING VIEWS OVER EPPING FOREST AND CHINGFORD PLAINS +
MODERN DECOR THROUGHOUT +
TWO GENEROUS BEDROOMS +
EASY ACCESS MAINLINE STATION, SHOPS AND SCHOOLS +
FAVOURED RESIDENTIAL TURNING +

Situated in an enviable location with amazing forest views, a lovely two bedroom first floor flat with the advantage of SHARE OF FREEHOLD AND GARAGE EN BLOC.

The property has the benefit of direct access to its' own entrance door, resident parking plus plentiful parking on street and just a few minutes away from Chingford mainline station, shops, restaurants and schools in a favoured residential turning.

Once inside the property you will find a front facing lounge with large picture window overlooking forestland, a generous main bedroom with fitted wardrobes (and once again great views to wake up to!), a rear facing good size second bedroom, a modern fitted kitchen and shower room/wc.

The property has been subject to major modernisation over the past few years and offers a comfortable living space with neutral decor throughout.

The communal rear garden is peaceful and immaculately presented and residents have the benefit of GARAGE EN BLOC and RESIDENT PARKING. Additional parking is available on street too.

Please call to arrange your viewing!

Agent Details

Clarke Residential, Chingford

01992 661949

Next Steps?

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

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