3 Bed Terraced House, Refurb/BRRR, London, N18 1HQ, £450,000

4 Somerset Road, London, Greater London, N18 1HQ - 5 views - 9 months ago

Sold STC
Refurb/BRRR
ROI: 2%
~80 m²
+3 photos

ValuationOvervalued

Sold Prices£235K - £530K
Sold Prices/m²£2.8K/m² - £6.5K/m²

 

 

Square Metres

~80 m²
Price/m²£5.6K/m²

Value Estimate

£335,750

 

 

End Value (After Refurb)

£427,400

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£112,500

Stamp Duty & Legal Fees

£24,700

Refurb Costs

£42,353

Bridging Loan Interest

£11,813

Total Cash In

£193,115

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£427,400

Mortgage (After Refinance)

£320,550

Mortgage LTV

75%

Cash Left In

£193,115

Equity

£106,850

Rent Range

£1,900 - £2,995

Rent Estimate

£2,192

Running Costs/mo

£1,794

Cashflow/mo

£398

Cashflow/yr

£4,776

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £235K to £530K, average is £407.5K. £2.8K/m² to £6.5K/m², average is £4.6K/m².

PriceDateDistanceAddressBeds 
£305K06/210 mi4, Somerset Road, London, Greater London N18 1HQ3
£305K06/210 mi4, Somerset Road, London, Greater London N18 1HQ3
£235K11/200.07 mi75, Somerset Road, London, Greater London N18 1HH3
£380K12/200.07 mi78, Somerset Road, London, Greater London N18 1HG3
£390K12/200.07 mi98, Somerset Road, London, Greater London N18 1HG3
£427.4K02/230.07 mi24, Somerset Road, London, Greater London N18 1HG3
£410K01/210.1 mi5, Gloucester Road, London, Greater London N18 1HW3
£405K06/230.1 mi11, Gloucester Road, London, Greater London N18 1HW3
£400K06/210.11 mi81, Somerset Road, London, Greater London N18 1HH3
£310K12/220.12 mi3, Lancaster Road, Edmonton, London, Greater London N18 1HP3
£266K05/210.14 mi221, College Close, London, Greater London N18 2XS3
£385K06/210.2 mi60, Hawthorn Road, London, Greater London N18 1EZ3
£415.6K08/230.2 mi19, Pretoria Road North, London, Greater London N18 1EU3
£390K07/230.25 mi54, Sheldon Road, London, Greater London N18 1RW3
£405K06/210.32 mi36, Haselbury Road, London, Greater London N18 1QA3
£405K02/230.33 mi56, Haselbury Road, London, Greater London N18 1QA3
£452.5K11/200.35 mi25, Sweet Briar Walk, London, Greater London N18 1RZ3
£495K03/210.35 mi51, Sweet Briar Walk, London, Greater London N18 1RZ3
£457.5K08/230.35 mi37, Sweet Briar Walk, London, Greater London N18 1RZ3
£414K07/230.35 mi131, Warwick Road, Edmonton, London, Greater London N18 1RS3
£467K06/210.36 mi1, Cuthbert Road, London, Greater London N18 2QL3
£385K11/200.38 mi34, Alpha Road, London, Greater London N18 2RL3
£480K10/200.38 mi211, Silver Street, London, Greater London N18 1PL3
£360K12/200.38 mi10, Buckstone Road, London, Greater London N18 2RH3
£530K06/220.39 mi16, Hinton Road, London, Greater London N18 1PW3
£436.2K08/230.39 mi98, Bulwer Road, London, Greater London N18 1QQ3
£490K12/220.4 mi115, Raynham Avenue, London, Greater London N18 2BT3
£375K06/210.4 mi26, Hewish Road, London, Greater London N18 1PS3
£400K10/200.42 mi61, Morley Avenue, London, Greater London N18 2QU3
£437K02/220.42 mi14, Clarendon Road, London, Greater London N18 2AJ3
£415K03/210.43 mi61, Henley Road, London, Greater London N18 1NU3
£520K03/230.43 mi14, Oakfield Gardens, London, Greater London N18 1PP3
£465K03/230.44 mi50, Park Lane, London, Greater London N9 9BG3
£377K09/210.44 mi141, Haselbury Road, London, Greater London N18 1QE3
£452K01/230.45 mi91, Amersham Avenue, Edmonton, London, Greater London N18 1DU3
£395K02/210.45 mi19, Huxley Road, London, Greater London N18 1NW3
£475K07/230.49 mi43a, Oakfield Gardens, London, Greater London N18 1NY3
£420K07/230.49 mi19, Kings Road, London, Greater London N18 2QR3
£455K10/210.49 mi188, Haselbury Road, London, Greater London N9 9BL3
£475.5K01/210.49 mi7, Pymmes Gardens South, London, Greater London N9 9NT3
£430K04/210.49 mi32, Sweet Briar Green, London, Greater London N9 9NJ3
£445K06/210.5 mi46, Windmill Road, London, Greater London N18 1PA3
£510K12/200.5 mi47, Brantwood Road, Tottenham, London, Greater London N17 0DT3
£397.5K02/210.5 mi22, Dunholme Road, London, Greater London N9 9NW3
£390K03/210.5 mi94, Kings Road, London, Greater London N18 2PN3
£412K08/210.5 mi66, Kings Road, London, Greater London N18 2PN3
£400K10/200.5 mi13, Hazelbury Green, London, Greater London N9 9BJ3
£403K08/210.5 mi57, Barclay Road, London, Greater London N18 1EH3
£335K03/210.52 mi4, Edinburgh Road, London, Greater London N18 2EQ3
£380K04/210.52 mi8, Edinburgh Road, London, Greater London N18 2EQ3

Local Rents

40 rents from £1.9K/mo to £3K/mo, average is £2.3K/mo.

RentDateDistanceAddressBeds 
£2,10006/240.07 miSomerset Road, London, N183
£2,00006/240.07 miSomerset Road, London, N183
£2,00007/240.07 mi-3
£2,10012/240.07 mi-3
£2,00006/240.07 mi-3
£1,90005/240.07 miSomerset Road, Edmonton, N183
£2,10005/240.1 mi-3
£2,00012/240.1 mi-3
£2,15005/240.1 miSomerset Road, London, N183
£2,00006/240.19 miHawthorn Road, London3
£2,10012/240.2 miPretoria Road North, Edmonton, London, N183
£2,35003/250.22 mi-3
£2,35001/250.23 mi-3
£2,40005/240.23 miTanners End Lane, London, N183
£2,19505/240.24 miWarwick Road, Edmonton, N183
£2,50003/250.27 mi-3
£2,50007/240.33 mi-3
£2,70012/240.34 mi-3
£2,50012/240.35 miQuandrant Court, Park Avenue, Edmonton,N183
£2,40005/240.41 miClarendon Road, London, N183
£2,40005/240.41 mi-3
£2,20005/240.42 miHenley Road, N18, Edmonton, London, N183
£2,25003/250.44 mi-3
£2,20002/250.46 mi-3
£2,10003/250.47 mi-3
£2,30012/240.47 mi-3
£2,30005/240.47 mi-3
£2,10006/240.51 mi-3
£2,19906/240.51 mi-3
£2,40001/250.52 mi-3
£2,30005/240.52 mi-3
£2,20005/240.56 miLeyburn Road, Edmonton, N183
£2,35001/250.57 mi-3
£2,99502/250.62 mi-3
£2,99502/250.62 mi-3
£2,89502/250.62 mi-3
£2,94502/250.62 mi-3
£2,84502/250.62 mi-3
£2,84502/250.62 mi-3
£2,35006/240.62 mi-3

Local Area Statistics

Population in N18

31,598

Population in London

4,771,921

Town centre distance

6.12 miles away

Nearest school

0.30 miles away

Nearest train station

0.12 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Buyer's market

Capital growth (5yrs)

+10%

Property History

Listed for £450,000

June 28, 2024

Sold for £305,000

2021

Sold for £69,700

1997

Floor Plans

Description

  • Three-bedroom Victorian Terraced House +
  • With a spacious private garden +
  • Boasting a total area of 857SQFT +
  • Minutes' walk from Silver Street Overground station +
  • FREEHOLD +

Discover this delightful three-bedroom Victorian terraced house, boasting a total area of 857SQFT. The property boasts a spacious private garden and a delightful patio, perfect for enjoying outdoor activities and entertaining guests. Situated just a few minutes' walk from Silver Street Overground station, the property offers convenient direct access to the city centre. A wealth of local amenities surrounds the area, ensuring all your needs are met.

THE PROPERTY

Step inside to discover a massive-sized reception area, ideal for relaxing and socializing. The large kitchen, also with access to the rear garden, offers ample space for dining and family gatherings. Upstairs, the house features three expansive bedrooms, each providing a comfortable retreat. The first floor also includes a family bathroom.

While this charming house is move-in ready, it does offer an exciting opportunity for those looking to add their personal touch. Some renovations are needed, allowing you to customize and modernize the space to suit your taste and lifestyle.

THE LOCATION & AMENITIES

The location has a lot to talk about. Getting around the city is a breeze, you are a short walk from Silver Street Overground which has a direct route into London Liverpool Street. The patch also connects easily to Edmonton's hub Fore Street. Here you have a whole host of shops and restaurants to pick from. Whether you need household goods, groceries, great food or clothing nothing is missed here! Fore Street directly leads onto Tottenham High Road; similar amenities are found here plus loads more!

THE FUTURE

Edmonton is widely known to be a great place to buy in North London. Neighbouring areas have seen a huge boom in prices and demand has naturally lead to N18. The area ticks all major boxes that buyers look for from their search. It is a given that this patch will do very well in the future.

Do not miss your opportunity to see this amazing property. Call us now!

‘Think…Property Inc’

Agent Details

Property Inc, Harringay

020 3840 3672

Next Steps?

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