2 Bed Flat, Refurb/BRRR, CR8 2NL £275,000

Purley, Surrey, CR8 2NL - 1 views - 2 years ago
Sold STC
Refurb/BRRR
ROI: 1%
~74 m²
Property image

ValuationFair Value

Sold Prices£105K - £442.3K
Sold Prices/m²£2.1K/m² - £6.1K/m²

 

 

Square Metres

~74 m²
Price/m²£3.7K/m²

Value Estimate

£275,000

 

 

End Value (After Refurb)

£391,068

Uplift in Value

+42%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£68,750

Stamp Duty & Legal Fees

£18,700

Refurb Costs

£43,024

Bridging Loan Interest

£7,219

Total Cash In

£139,443

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£391,068

Agent Fees (1%)

£3,911

Bridging Loan

£206,250

Bridging Loan Interest

£7,219

Flip Profit

£41,465

Local Sold Prices

50 sold prices from £105K to £442.3K, average is £280.3K. £2.1K/m² to £6.1K/m², average is £4.5K/m².

Price
Date
Distance
Address
Beds
 
£315K06/250.03 mi14, Park View, Christchurch Road, Purley CR8 2NL2
£315K06/250.03 mi14, Park View, Christchurch Road, Purley CR8 2NL2
£325K08/250.07 miFlat 16, Gemini Court, Brighton Road, Purley CR8 2FD2
£200K08/250.14 miFlat 26, 11 Gresham Court, Pampisford Road, Purley CR8 2UU2
£130K11/240.16 mi75 Azalea Court, 30, Whytecliffe Road South, Purley CR8 2AX2
£139K04/250.16 mi29, 75 Azalea Court, Whytecliffe Road South, Purley CR8 2AX2
£139K04/250.16 mi29, 75 Azalea Court, Whytecliffe Road South, Purley CR8 2AX2
£280K06/250.18 mi16, Lansdowne Court, Brighton Road, Purley CR8 2BD2
£280K06/250.18 mi16, Lansdowne Court, Brighton Road, Purley CR8 2BD2
£273.1K12/220.26 mi30a, Purley Park Road, Purley, Greater London CR8 2BS2
£292K11/240.28 mi4, Flat 11, Foxley Lane, Purley CR8 3EP2
£105K11/240.32 mi10 Reynard Court, Flat 1, Foxley Lane, Purley CR8 3EN2
£285K06/210.32 mi666, Brighton Road, Purley, Greater London CR8 2BB2
£248K07/230.32 mi648, Brighton Road, Purley, Greater London CR8 2BB2
£442.3K01/250.33 mi7a Athena House, Flat 7, Edgehill Road, Purley CR8 2NB2
£270K01/250.34 mi660, Brighton Road, Purley CR8 2BB2
£260K05/250.35 miFlat 4, 14, Brighton Road, Purley CR8 3AA2
£356K04/250.35 miFlat 7, 14, Brighton Road, Purley CR8 3AA2
£337K03/250.35 miFlat 5, 14, Brighton Road, Purley CR8 3AA2
£356K04/250.35 miFlat 7, 14, Brighton Road, Purley CR8 3AA2
£260K05/250.35 miFlat 4, 14, Brighton Road, Purley CR8 3AA2
£268K03/250.39 mi119, Kingsdown Avenue, South Croydon CR2 6QL2
£335K10/240.4 mi10 Silvermere Court, Flat 10, Foxley Hill Road, Purley CR8 2HB2
£420K10/240.41 mi4, Flat 2, Woodcote Valley Road, Purley CR8 3AG2
£387.5K12/240.42 mi103, Flat 9, Montpelier Road, Purley CR8 2QF2
£272K02/230.53 miFlat 77, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PJ2
£288K09/210.54 miFlat 48, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PJ2
£300K11/220.54 miFlat 45, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PJ2
£270K06/250.56 mi22, French Apartments, Lansdowne Road, Purley CR8 2PH2
£265K04/250.56 mi28, French Apartments, Lansdowne Road, Purley CR8 2PH2
£265K04/250.56 mi28, French Apartments, Lansdowne Road, Purley CR8 2PH2
£270K06/250.56 mi22, French Apartments, Lansdowne Road, Purley CR8 2PH2
£275K03/250.58 mi3, French Apartments, Lansdowne Road, Purley CR8 2PH2
£275K03/250.58 mi3, French Apartments, Lansdowne Road, Purley CR8 2PH2
£262.5K06/230.59 mi538, Brighton Road, South Croydon, Greater London CR2 6AU2
£255K02/250.6 mi20, Beaumont Road, Purley CR8 2EG2
£340K07/250.6 mi54, Chancellor Gardens, South Croydon CR2 6WB2
£345K02/250.61 mi79l Cara House, Flat 2, Riddlesdown Road, Purley CR8 1DH2
£280.5K09/240.63 mi55a Walker House, Flat 20, Partridge Knoll, Purley CR8 1AY2
£279K03/250.66 mi37, Partridge Knoll, Purley CR8 1BS2
£382K06/250.67 miFlat 4, 57, Brighton Road, Purley CR8 2LR2
£382K06/250.67 miFlat 4, 57, Brighton Road, Purley CR8 2LR2
£275K11/240.71 miHurst View Grange, 15, Pampisford Road, South Croydon CR2 6DL2
£284K05/250.71 miFlat 9, 198 Milford House, Pampisford Road, South Croydon CR2 6DB2
£284K05/250.71 miFlat 9, 198 Milford House, Pampisford Road, South Croydon CR2 6DB2
£335K11/210.74 miFlat 20, Barrards Hall, Beech Avenue, South Croydon, Greater London CR2 0NL2
£285K12/210.74 mi11, Allder Way, South Croydon, Greater London CR2 6JZ2
£415K03/250.77 miFlat 2, 62 Hawthorne Court, Woodcote Valley Road, Purley CR8 3BD2
£275K02/250.79 mi50a, Blenheim Crescent, South Croydon CR2 6BP2
£330K06/250.82 miFlat 1, 38, Blenheim Crescent, South Croydon CR2 6BN2

Local Rents

50 rents from £1.3K/mo to £1.9K/mo, average is £1.7K/mo.

Rent
Date
Distance
Address
Beds
 
£1,47510/250.04 mi-2
£1,60009/250.04 miBourne Court, Purley, CR82
£1,45012/240.06 miBourne Court, 60 Pampisford Road, Purley, CR82
£1,57508/250.07 miGemini Court, Brighton Road, Purley2
£1,85011/250.08 miPampisford Road, Purley, Surrey, CR82
£1,65010/250.1 miPurley Heights,CR82
£1,60011/250.1 miHigh Street Purley CR82
£1,90009/250.12 miPampisford Road, Purley, CR82
£1,90010/250.12 miPampisford Road, Purley, CR82
£1,80012/240.12 miPampisford Road, Purley, CR82
£1,50007/250.12 miClose to Reedham Railway Station2
£1,70011/250.12 mi-2
£1,80011/250.12 miAstoria Court, Purley, CR82
£1,65012/240.13 miAstoria Court, Purley, Surrey2
£1,70011/250.13 miHigh Street Purley CR82
£1,65001/250.14 mi-2
£1,65001/250.14 mi-2
£1,65001/250.14 mi-2
£1,65002/250.14 mi-2
£1,65002/250.14 mi-2
£1,65002/250.14 mi-2
£1,85012/240.15 miGlenn Avenue Purley CR82
£1,60009/250.15 mi-2
£1,60008/250.15 miRussell Hill Place, Purley, CR82
£1,70002/250.15 mi-2
£1,70003/250.15 mi-2
£1,75003/250.15 mi-2
£1,90003/250.15 mi-2
£1,90003/250.15 mi-2
£1,90004/250.15 mi-2
£1,85004/250.15 mi-2
£1,80004/250.15 mi-2
£1,80004/250.15 mi-2
£1,80004/250.15 mi-2
£1,80005/250.15 mi-2
£1,80005/250.15 mi-2
£1,80005/250.15 mi-2
£1,80005/250.15 mi-2
£1,80005/250.15 mi-2
£1,80005/250.15 mi-2
£1,80005/250.15 mi-2
£1,80005/250.15 mi-2
£1,50006/250.16 miPurley Heights, 124 High Street, PURLEY, Surrey, CR82
£1,60003/250.17 mi-2
£1,65008/250.17 mi-2
£1,65012/240.17 miWoburn Avenue, Purley, CR82
£1,80004/250.17 mi-2
£1,30011/250.18 miHigh Street, Purley2
£1,70008/250.19 miPampisford Road Purley CR82
£1,89512/240.19 miMarvon Court, Russell Green Close, West Purley2

Local Area Statistics

Population in CR8

32,301

Nearest school

0.10 miles away

Nearest train station

0.28 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Price changed to £275,000

September 25, 2024

Listed for £300,000

May 24, 2024

Sold for £212,500

2005

Floor Plans

Property image

Description

  • Requiring Modernisation Throughout +
  • Spacious Interior +
  • Double Aspect Open Plan Lounge/Diner +
  • Fitted Kitchen +
  • Two Double Bedrooms +
  • Two Bath/Shower Rooms +
  • Balcony & Communal Gardens +
  • Garage & Off Street Parking +
  • Close to Local Amenities and Transport Links +

THE PROPERTY Requiring modernisation throughout, this spacious apartment offers heaps of potential and is situated in the heart of Purley, within close proximity to town and excellent transport links. The accommodation comprises a large double aspect lounge/diner, which is flooded with natural light and features large sliding doors which open out to the balcony. The kitchen is fitted with base and wall mounted units, and offers a great outlook to Rotary Park. Both double bedrooms offer built in storage, and are served by two bath/shower rooms. The property also benefits from a lock-up garage, two handy store cupboards, visitors parking to the rear, a lift to all floors and communal gardens. Please note that the property has electric heating, however there is a gas supply to the block.

Service Charge - £4,200 pa (Buildings insurance included)
Croydon London Borough Council - Band C £2,103.91 (£PA)  

THE LOCATION Education
Purley and the surrounding areas are well known for their very good choice of reputable schools including Cumnor House, St. David's, Margaret Roper Catholic, St. Nicholas, Beaumont and Oakwood. At senior level, there is John Fisher, Riddlesdown Collegiate and Whitgift, Trinity, Old Palace and Croydon High in South Croydon.

Sports & Leisure
There are numerous facilities in the area including Purley Sports Club with its squash, cricket and tennis courts and there are two golf courses in Purley as well as a number of individual tennis and bowls clubs. There are also plenty of opportunities to relax and socialise in the many local restaurants and cafes.

Transport
Purley station is a short walk away (0.3 of a mile) and provides rail services to London Bridge (from 25 minutes), London Victoria (from 24 minutes) and Gatwick (from 26 minutes). Numerous bus services provide transport to all the surrounding and the M25/M23 intersection at Hooley is approximately 4-5 miles away. Gatwick and Heathrow Airports are within about 30 and 60 minutes drive respectively.

Agent Details

Walter & Mair, Coulsdon

020 3834 8680

Next Steps?

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