2 Bed Flat, Refurb/BRRR, Ilford, IG3 8SA, £274,995

600 Green Lane, Ilford, IG3 9SQ - 10 views - 9 months ago

Leasehold
BTL
Refurb/BRRR
ROI: 4%
~68 m²
+2 photos

ValuationUndervalued

Sold Prices£114.8K - £405K
Sold Prices/m²£2.1K/m² - £7.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4K/m²

Value Estimate

£282,800
BMV1%

 

 

End Value (After Refurb)

£310,454

Uplift in Value

+11%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£68,749

Stamp Duty & Legal Fees

£11,100

Refurb Costs

£36,033

Bridging Loan Interest

£7,219

Total Cash In

£124,850

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£310,454

Mortgage (After Refinance)

£232,841

Mortgage LTV

75%

Cash Released

£26,594

Cash Left In

£98,256

Equity

£77,614

Rent Range

£1,500 - £2,300

Rent Estimate

£1,829

Running Costs/mo

£1,356

Cashflow/mo

£473

Cashflow/yr

£5,676

ROI

5%

Gross Yield

8%

Local Sold Prices

50 sold prices from £114.8K to £405K, average is £270K. £2.1K/m² to £7.6K/m², average is £4.7K/m².

PriceDateDistanceAddressBeds 
£320K06/230.16 mi39, Gartmore Road, Ilford, Greater London IG3 9XG2
£225K08/220.19 mi46, Goodmayes Avenue, Ilford, Greater London IG3 8TW2
£360K11/220.2 mi8, Ashgrove Road, Ilford, Greater London IG3 9XE2
£202K12/200.22 mi110a, Pembroke Road, Ilford, Greater London IG3 8PF2
£285K08/220.22 mi110a, Pembroke Road, Ilford, Greater London IG3 8PF2
£270K01/210.34 mi18a, Nutfield Gardens, Ilford, Greater London IG3 9TB2
£405K01/230.35 mi80, Fenman Gardens, Ilford, Greater London IG3 9TS2
£240K02/210.42 miFirst Floor Flat, 25, Oakwood Gardens, Ilford, Greater London IG3 9TY2
£340K03/210.45 mi28, Audley Gardens, Ilford, Greater London IG3 9LB2
£305K02/210.46 mi161, Aldborough Road South, Ilford, Greater London IG3 8HU2
£218.2K12/220.48 mi139, Aldborough Road South, Ilford, Greater London IG3 8HT2
£385K10/220.49 mi17, Aberdour Road, Ilford, Greater London IG3 9SA2
£350K10/220.49 mi17a, Aberdour Road, Ilford, Greater London IG3 9SA2
£278K09/220.5 mi83, Douglas Road, Ilford, Greater London IG3 8UZ2
£270K02/210.52 mi14, Budoch Drive, Ilford, Greater London IG3 9NX2
£282.5K07/210.61 mi58a, Vicarage Lane, Ilford, Greater London IG1 4AN2
£257K02/230.65 mi79, Avenue Road, Chadwell Heath, Romford, Greater London RM6 4JF2
£265K02/230.67 mi74, Avenue Road, Chadwell Heath, Romford, Greater London RM6 4JF2
£215K02/210.68 mi4, Friars Close, Ilford, Greater London IG1 4AZ2
£305K10/220.68 mi19, Friars Close, Ilford, Greater London IG1 4AZ2
£277K12/220.68 mi50, Friars Close, Ilford, Greater London IG1 4AZ2
£280K06/230.68 mi61, Friars Close, Ilford, Greater London IG1 4AZ2
£283K07/210.7 mi61, Piper Way, Ilford, Greater London IG1 4FE2
£290K05/220.72 mi65, Stainforth Road, Ilford, Greater London IG2 7EL2
£322K03/230.76 miFlat 38, De Havilland Square, Piper Way, Ilford, Greater London IG1 4DE2
£255K08/210.78 mi56, Pedley Road, Dagenham, Greater London RM8 1XE2
£265K09/210.8 mi9, Jade Close, Dagenham, Greater London RM8 1XG2
£261K10/210.81 mi20, Capstan Close, Romford, Greater London RM6 4PY2
£185K09/220.81 mi30, Capstan Close, Romford, Greater London RM6 4PY2
£210K10/220.82 mi263, Dawlish Drive, Ilford, Greater London IG3 9EH2
£245K03/210.83 mi114, Burns Avenue, Chadwell Heath, Romford, Greater London RM6 4DG2
£227.5K06/210.83 mi75, Burns Avenue, Chadwell Heath, Romford, Greater London RM6 4DG2
£260K02/230.83 mi77, Burns Avenue, Chadwell Heath, Romford, Greater London RM6 4DG2
£286K10/220.83 mi75, Burns Avenue, Chadwell Heath, Romford, Greater London RM6 4DG2
£273.4K01/230.83 miFlat 4, Marvell Court, Quarles Park Road, Chadwell Heath, Romford, Greater London RM6 4DY2
£260K12/200.85 mi15, Overton Drive, Chadwell Heath, Romford, Greater London RM6 4EN2
£240K07/210.87 mi71, Pedley Road, Dagenham, Greater London RM8 1XQ2
£240K06/210.87 mi141, Millhaven Close, Romford, Greater London RM6 4PW2
£270K12/220.87 miFlat 152, Courtney Towers, Glebelands Avenue, Ilford, Greater London IG2 7DJ2
£230K10/210.89 mi12, Sapphire Close, Dagenham, Greater London RM8 1UF2
£278K04/230.89 mi2, Westfield Gardens, Chadwell Heath, Romford, Greater London RM6 4BY2
£260K02/210.89 mi16, Westfield Gardens, Chadwell Heath, Romford, Greater London RM6 4BY2
£114.8K05/210.89 mi3, Madeleine Close, Romford, Greater London RM6 4BJ2
£264K11/220.89 mi21, Madeleine Close, Romford, Greater London RM6 4BJ2
£220K04/210.89 mi45, Madeleine Close, Romford, Greater London RM6 4BJ2
£270K06/210.91 mi10, Oaks Lane, Ilford, Greater London IG2 7PL2
£291K08/220.91 mi862, Eastern Avenue, Ilford, Greater London IG2 7HY2
£250K12/200.92 mi63, Lynn Road, Ilford, Greater London IG2 7DU2
£275K05/230.92 mi75, Dellow Close, Ilford, Greater London IG2 7ED2
£272K09/210.92 mi1000, High Road, Romford, Greater London RM6 4BA2

Local Rents

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

RentDateDistanceAddressBeds 
£1,75012/240.12 mi-2
£1,75012/240.12 mi-2
£1,80004/240.16 miPembroke Road, Seven Kings2
£1,70005/240.17 miCharter House, 450 High Road, Ilford IG12
£1,75012/240.19 mi-2
£1,70012/240.19 mi-2
£1,95012/240.2 mi-2
£1,90012/240.2 mi-2
£1,90012/240.2 mi-2
£1,65012/240.21 mi-2
£1,51712/240.24 mi-2
£1,85012/240.25 mi-2
£1,85004/250.26 mi-2
£1,65012/240.28 mi-2
£2,10012/240.28 mi-2
£2,00001/250.29 mi-2
£1,80002/250.29 mi-2
£1,80004/250.31 mi-2
£1,75012/240.32 mi-2
£1,75012/240.32 mi-2
£1,85003/250.32 mi-2
£1,70005/240.32 mi-2
£2,00005/240.32 mi-2
£1,80004/240.33 miCameron Road, Ilford2
£1,80005/240.34 miCameron Road, Seven Kings, IG32
£1,60005/240.35 mi-2
£1,60002/240.35 mi-2
£1,60002/240.35 mi-2
£1,60006/240.35 mi-2
£1,57512/240.35 mi-2
£1,60005/240.35 mi-2
£1,85003/250.36 mi-2
£2,20004/240.38 miMeads Lane, Ilford, Essex, IG32
£1,70012/240.39 mi-2
£1,80012/240.39 mi-2
£1,90012/240.42 mi-2
£1,60001/250.42 mi-2
£1,75004/250.43 mi-2
£1,65012/240.43 mi-2
£1,65012/240.43 mi-2
£1,55012/240.43 mi-2
£1,55012/240.43 mi-2
£2,10012/240.45 mi-2
£1,65001/240.46 miBreamore Road, Ilford, Essex, IG32
£1,80002/250.46 mi-2
£2,30012/240.47 mi-2
£1,60012/240.49 mi-2
£1,60012/240.49 mi-2
£1,70004/240.52 miilford, ig3 9ry2
£1,50002/250.52 mi-2

Local Area Statistics

Population in IG3

35,543

Population in Ilford

181,468

Town centre distance

1.21 miles away

Nearest school

0.20 miles away

Nearest train station

0.28 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-19%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Price changed to £274,995

December 4, 2024

Listed for £280,000

July 4, 2024

Description

  • Ground Floor +
  • Chain Free +
  • Garden +
  • High Ceilings +
  • Spacious Accomodation +
  • A Must View +

Kurtis Property present this spacious ground floor flat located on Westwood Road, Seven Kings, Ilford. In need of modernisation, boasting high ceilings with additional features including two bedrooms, lounge, kitchen, lean to, bathroom and garden. Located within close proximity to local parks, schools, amenities and transport links.

In our opinion, this property would be ideal for first time buyers and buy to let investors.

Contact us now to arrange your internal inspection

EPC Rating: D
Council Tax Band: B

Bedroom 1 - 4.42 into bay x 4.08 (14'6" into bay x 13'4") -

Bedroom 2 - 3.54 x 2.81 (11'7" x 9'2") -

Lounge - 3.81 x 2.97 (12'5" x 9'8") -

Kitchen - 3.61 x 2.82 (11'10" x 9'3") -

Lean To - 4.17 x 2.48 max (13'8" x 8'1" max) -

Agent Details

Kurtis Property, Ilford

020 3834 8602

Next Steps?

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