2 Bed Flat, Refurb/BRRR, BR2 0NZ £325,000

Mays Hill Road, Bromley, BR2 0NZ - 34 views - a year ago
Refurb/BRRR
ROI: 1%
~63 m²
Property image

ValuationOvervalued

Sold Prices£270K - £535K
Sold Prices/m²£4.2K/m² - £10.4K/m²

 

 

Square Metres

~63.20 m²
Price/m²£5.1K/m²

Value Estimate

£316,000

 

 

End Value (After Refurb)

£385,102

Uplift in Value

+18%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£14,700

Refurb Costs

£33,600

Bridging Loan Interest

£8,531

Total Cash In

£139,831

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£385,102

Mortgage (After Refinance)

£288,826

Mortgage LTV

75%

Cash Released

£45,076

Cash Left In

£94,755

Equity

£96,275

Rent Range

£1,350 - £2,200

Rent Estimate

£1,734

Running Costs/mo

£1,570

Cashflow/mo

£164

Cashflow/yr

£1,965

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £270K to £535K, average is £370K. £4.2K/m² to £10.4K/m², average is £5.6K/m².

Price
Date
Distance
Address
Beds
 
£423K07/230.19 mi6, Pump House Close, Bromley, Greater London BR2 0LA2
£430K11/220.21 mi52a, Valley Road, Bromley, Greater London BR2 0HD2
£430K06/210.22 mi48a, Valley Road, Bromley, Greater London BR2 0HD2
£360K02/250.25 mi18 Hazelwood House, Flat 28, Church Road, Shortlands, Bromley BR2 0HE2
£442.5K02/230.26 mi28a, Durham Avenue, Bromley, Greater London BR2 0QB2
£370K06/210.28 mi13, Madison Gardens, Bromley, Greater London BR2 0SJ2
£400K12/240.28 mi1 Luca Court, Flat 6, Mays Hill Road, Shortlands, Bromley BR2 0AP2
£440K05/250.3 mi28, Spruce Park, Cumberland Road, Shortlands, Bromley BR2 0EH2
£440K05/250.3 mi28, Spruce Park, Cumberland Road, Shortlands, Bromley BR2 0EH2
£465K07/250.31 miFlat 1, 4 Caton Court, Beckenham Grove, Shortlands, Bromley BR2 0JU2
£280K08/210.31 mi37a, Martins Road, Bromley, Greater London BR2 0EE2
£385K04/250.32 mi18, Mill Vale, Bromley BR2 0EW2
£385K04/250.32 mi18, Mill Vale, Bromley BR2 0EW2
£420K03/250.37 miFlat 21, 76 Florida Court, Westmoreland Road, Bromley BR2 0TR2
£359K03/250.37 miFlat 3, 5 Fitzroy Hall, Shortlands Grove, Shortlands, Bromley BR2 0LS2
£517.5K06/230.37 miFlat 1, Linda Court, South Hill Road, Bromley, Greater London BR2 0RH2
£365K05/250.38 miFlat 26, 76 Florida Court, Westmoreland Road, Bromley BR2 0TR2
£365K05/250.38 miFlat 26, 76 Florida Court, Westmoreland Road, Bromley BR2 0TR2
£375K03/250.39 miFlat 5, 16 Arundel Court, Beckenham Grove, Shortlands, Bromley BR2 0XN2
£330K07/230.4 mi47c, Ravensbourne Road, Bromley, Greater London BR1 1HW2
£378K05/250.41 miFlat 5, 9 Squirrels Drey, Park Hill Road, Shortlands, Bromley BR2 0JX2
£378K05/250.41 miFlat 5, 9 Squirrels Drey, Park Hill Road, Shortlands, Bromley BR2 0JX2
£395K06/210.42 mi15, Hildenlea Place, Bromley, Greater London BR2 0YH2
£427.5K02/230.42 mi12, Foxes Dale, Bromley, Greater London BR2 0JS2
£300K06/210.43 mi3, Kingsleigh Walk, Bromley, Greater London BR2 0YE2
£270K10/210.43 miFlat 16, Pixfield Court, Beckenham Lane, Bromley, Greater London BR2 0DG2
£287.5K08/230.43 miFlat 15, Pixfield Court, Beckenham Lane, Bromley, Greater London BR2 0DG2
£350K06/250.43 miFlat 41, 9 Westpoint, Shortlands Grove, Shortlands, Bromley BR2 0ND2
£350K06/250.43 miFlat 41, 9 Westpoint, Shortlands Grove, Shortlands, Bromley BR2 0ND2
£290K04/250.44 miFlat 6, 5 Glebe Knoll, Beckenham Lane, Bromley BR2 0DA2
£450K03/250.44 miFlat 1, 5 Glebe Knoll, Beckenham Lane, Bromley BR2 0DA2
£290K04/250.44 miFlat 6, 5 Glebe Knoll, Beckenham Lane, Bromley BR2 0DA2
£330K12/240.44 mi5, Ethelbert Close, Bromley BR1 1JB2
£325K01/250.45 mi47 Warwick Court, Flat 6, Park Hill Road, Shortlands, Bromley BR2 0LB2
£335K08/250.45 miFlat 7, Curzon Court, Beckenham Grove, Shortlands, Bromley BR2 0JY2
£335K08/210.45 mi4a, Shortlands Gardens, Bromley, Greater London BR2 0EA2
£310K11/220.45 mi12, Whitehaven Close, Bromley, Greater London BR2 0YA2
£295K03/230.45 mi44, Whitehaven Close, Bromley, Greater London BR2 0YA2
£353K03/250.46 mi26c, Bromley Grove, Shortlands, Bromley BR2 0LN2
£400K03/250.46 miApartment 7, 7 Dewey Court, St Mark's Square, Bromley BR2 9UZ2
£435K06/210.46 mi27a, Meadow Road, Bromley, Greater London BR2 0DX2
£370K01/250.49 mi6, Flat 2, Farnaby Road, Bromley BR1 4BJ2
£360K02/250.5 miSt James Court, Flat 4, Edison Road, Bromley, Greater London BR2 0EZ2
£368.3K05/250.5 mi6, Hill House, Hill House Mews, Bromley BR2 0DE2
£368.3K05/250.5 mi6, Hill House, Hill House Mews, Bromley BR2 0DE2
£400K06/230.51 miFlat 1, Cranley Court, Beckenham Grove, Bromley, Greater London BR2 0JZ2
£535K01/250.57 mi78, Flat 2, Scotts Lane, Shortlands, Bromley BR2 0LX2
£475K12/240.66 mi14, Flat 5, Highland Road, Bromley BR1 4AD2
£446.5K06/230.68 mi52, Beadon Road, Bromley, Greater London BR2 9AT2
£370K02/250.69 mi38d, Madeira Avenue, Bromley BR1 4AY2

Local Rents

50 rents from £1.4K/mo to £2.2K/mo, average is £1.8K/mo.

Rent
Date
Distance
Address
Beds
 
£1,85003/240.16 miShortlands, Bromley, BR22
£1,35006/250.16 miCumberland Road, Bromley, BR22
£1,55004/250.17 mi-2
£1,85003/240.18 miPump House Close, BR22
£1,78008/250.18 miWinchester Road, Bromley, BR2 0PZ2
£1,85009/250.19 miPump House Close, Shortlands, Bromley, BR22
£1,55010/250.2 miCumberland Road, Shortlands, Bromley, BR22
£1,75008/250.2 miCoombe Dene, Bromley, BR22
£1,70010/250.2 miCoombe Dene, Bromley, BR22
£1,75012/240.2 mi-2
£1,85006/250.21 mi-2
£1,65007/250.21 miRydal Mount, Bromley, BR22
£1,65008/250.21 mi-2
£1,80012/240.22 miValley Road Bromley BR22
£2,00003/240.23 miQueens Mead Road Bromley BR22
£1,80002/250.24 mi-2
£1,75010/250.24 mi-2
£1,85005/250.25 mi26 Durham Avenue, Bromley, BR22
£1,57507/250.25 miDurham Avenue, Bromley, BR22
£1,55004/250.25 mi-2
£1,80011/250.27 miMays Hill Road, Bromley, BR22
£1,65007/250.27 miDurham Avenue, Bromley, BR22
£1,80003/240.28 miGwydyr Road, Bromley, BR22
£1,80004/240.28 miGwydyr Road, Bromley, BR22
£2,20007/250.28 miLuca Court, BR2 2
£2,20007/250.28 miLuca Court, BR2 2
£1,80011/250.28 miMadison Gardens, Bromley, BR2 0SJ2
£2,00003/240.29 mi39 Spruce Park, Cumberland Road, Bromley, Kent BR2 0EH2
£1,45010/250.29 miKingswood Road, Bromley2
£1,60010/250.29 miKingswood Road, Bromley2
£1,60011/250.29 miKingswood Road, Bromley2
£1,60004/240.29 miKingswood Road, Bromley, London, BR22
£1,70003/240.3 miCumberland Road, Bromley, BR22
£1,85006/250.3 miCumberland Road, Bromley, BR22
£1,60003/240.31 miThe Birches, Durham Road, Bromley, BR22
£1,60006/250.31 miThe Birches, Durham Road, Bromley, BR22
£1,75012/240.31 mi-2
£1,75004/240.31 miThe Knoll, Bromley, BR22
£1,55006/250.31 miMartins Road, Shortlands, Bromley, BR22
£1,50003/240.31 miMartins Road, Shortlands, Bromley, BR22
£1,90001/250.33 mi-2
£1,79504/250.33 mi-2
£1,95008/250.33 miShortlands Road, Bromley, BR22
£1,95009/250.33 miShortlands Road, Bromley, BR22
£1,65008/250.33 miBromley Grove, Bromley, Kent, BR22
£1,65003/240.33 miGlassmill Lane, Shortlands, Bromley, BR22
£1,90006/250.34 miDurham Avenue Bromley BR22
£1,70003/240.34 miBeckenham Grove, Bromley, BR22
£1,80008/250.35 miQueen Anne Avenue, Bromley, Kent, BR22
£1,80005/250.35 miQueen Anne Avenue, Bromley, Kent, BR22

Local Area Statistics

Population in BR2

44,903

Nearest school

0.10 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+2%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Listed for £325,000

June 27, 2024

Floor Plans

Property image

Description

  • Spacious 2 bedroom flat +
  • Communal Garden +
  • Garage +
  • Sought afer location +

jdm present to the market October Court, a property brimming with potential, ideally situated between both Bromley South and Shortlands Stations. In need of complete modernisation throughout, the property offers a blank canvas for creative renovation.

jdm present to the market October Court, a property brimming with potential, ideally situated between both Bromley South and Shortlands Stations. In need of complete modernisation throughout, the property offers a blank canvas for creative renovation.

The property comprises of two excellent sized bedrooms, both bedrooms provide ample space, and benefit from built in storage. The main bathroom is spacious, offering a great foundation for a luxurious and modern redesign, there is also an additional W/C. The kitchen is bright and spacious, with plenty of room and natural light, the kitchen has the potential to become the heart of the home. The large living area provides a versatile space for relaxation and entertaining, ready to be transformed into a contemporary haven.

Externally the property benefits from well kept communal gardens and a garage.

The property is ideally located in a quiet, tree lined road, the property is within walking distance of two stations, local shops and several schools.

Lease information:
Share of Freehold
999 years from 24 June 2005
Approx. 980 years remaining
Management Company fee: £100 pcm

Broadband and Mobile Coverage
For broadband and mobile phone coverage at the property in question please visit: checker.ofcom.org.uk/en-gb/broadband-coverage and checker.ofcom.org.uk/en-gb/mobile-coverage respectively.

IMPORTANT NOTE TO POTENTIAL PURCHASERS:
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 and a buyer is advised to obtain verification from their own solicitor or surveyor.

Agent Details

jdm, Bromley

020 3910 6349

Next Steps?

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