2 Bed Terraced House, Refurb/BRRR, London, N3 3TX, £475,000

Spencer Close, Finchley, N3 3TX - 6 views - 9 months ago

Refurb/BRRR

~68 m²

+5 photos

ValuationFair Value

Sold Prices	£191.9K - £1.7M
Sold Prices/m²	£3K/m² - £12.1K/m²

Square Metres	~68.11 m²
Price/m²	£7K/m²
Value Estimate	£484,500£484,500

End Value (After Refurb)	£477,399£477,399
Uplift in Value	+1%+1%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£118,750£118,750
Stamp Duty & Legal Fees	£26,700£26,700
Refurb Costs	£36,033£36,033
Bridging Loan Interest	£12,469£12,469
Total Cash In	£195,702£195,702

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£477,399£477,399
Mortgage (After Refinance)	£358,049£358,049
Mortgage LTV	75%75%
Cash Released	£1,799£1,799
Cash Left In	£193,902£193,902
Equity	£119,350£119,350
Rent Range	£1,525 - £2,500£1,525 - £2,500
Rent Estimate	£1,957
Running Costs/mo	£1,903£1,903
Cashflow/mo	£54£54
Cashflow/yr	£645£645
ROI	0%0%
Gross Yield	5%5%

Local Sold Prices

52 sold prices from £191.9K to £1.7M, average is £667.5K. £3K/m² to £12.1K/m², average is £9.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£450K	02/21	0.19 mi	6, College Terrace, London, Greater London N3 1DT	£9,375	48	2	Semi-Detached House
£1.7M	08/23	0.37 mi	4, Kingsgate Avenue, London, Greater London N3 3BH	-	-	2	Detached House
£191.9K	10/20	0.46 mi	46, The Grove, London, Greater London N3 1QJ	£2,952	65	2	Detached House
£657K	01/21	0.58 mi	125, Long Lane, London, Greater London N3 2HY	£7,628	86	2	Terraced House
£560K	09/22	0.58 mi	111, Long Lane, London, Greater London N3 2HY	-	-	2	Terraced House
£685K	12/22	0.6 mi	115, Long Lane, London, Greater London N3 2HY	£9,133	75	2	Terraced House
£810K	09/23	0.61 mi	3, Thomas More Way, London, Greater London N2 0UL	£9,759	83	2	Terraced House
£785K	09/22	0.65 mi	34, Addison Way, London, Greater London NW11 6AS	-	-	2	Semi-Detached House
£1.2M	03/22	0.66 mi	20, Hurstwood Road, London, Greater London NW11 0AT	£6,200	200	2	Terraced House
£800K	08/21	0.68 mi	15, Creswick Walk, London, Greater London NW11 6AN	£10,959	73	2	Terraced House
£675K	02/23	0.68 mi	7, Creswick Walk, London, Greater London NW11 6AN	£8,562	79	2	Terraced House
£675K	02/23	0.68 mi	7, Creswick Walk, London, Greater London NW11 6AN	£8,562	79	2	Terraced House
£397.5K	03/21	0.69 mi	84, Gordon Road, London, Greater London N3 1EP	£6,737	59	2	Terraced House
£660K	08/23	0.75 mi	4, Wordsworth Walk, London, Greater London NW11 6AU	£10,271	64	2	Terraced House
£750K	09/23	0.75 mi	9, Wordsworth Walk, London, Greater London NW11 6AU	-	-	2	Terraced House
£670K	12/20	0.75 mi	52, Hamilton Road, London, Greater London N2 0SW	£8,072	83	2	Terraced House
£640K	05/21	0.75 mi	68, Hamilton Road, London, Greater London N2 0SW	£9,143	70	2	Terraced House
£520K	06/21	0.75 mi	175, Falloden Way, London, Greater London NW11 6LG	£9,352	56	2	Terraced House
£685K	10/22	0.75 mi	25, Abercorn Road, London, Greater London NW7 1JH	-	-	2	Detached House
£650K	10/20	0.78 mi	155, Willifield Way, London, Greater London NW11 6XY	£10,484	62	2	Terraced House
£615K	03/21	0.79 mi	86, Brackenbury Road, London, Greater London N2 0ST	£8,662	71	2	Terraced House
£610K	05/21	0.79 mi	44, Brackenbury Road, London, Greater London N2 0ST	£10,126	60	2	Terraced House
£625K	07/23	0.79 mi	88, Brackenbury Road, London, Greater London N2 0ST	£9,191	68	2	Terraced House
£625K	07/23	0.79 mi	88, Brackenbury Road, London, Greater London N2 0ST	£9,191	68	2	Terraced House
£665K	01/24	0.79 mi	64, Brackenbury Road, London, Greater London N2 0ST	£10,391	64	2	Terraced House
£458.3K	12/22	0.79 mi	25a, Brownlow Road, London, Greater London N3 1NA	-	-	2	Terraced House
£625K	01/23	0.79 mi	96, Falloden Way, London, Greater London NW11 6JD	£9,615	65	2	Semi-Detached House
£365K	03/22	0.8 mi	18a, Bittacy Hill, London, Greater London NW7 1LB	£5,448	67	2	Terraced House
£705K	11/22	0.8 mi	3, Oakwood Road, London, Greater London NW11 6QU	£10,144	70	2	Terraced House
£950K	07/24	0.81 mi	51, Denman Drive North, London, Greater London NW11 6RD	-	-	2	Semi-Detached House
£575.1K	08/21	0.82 mi	209, Falloden Way, London, Greater London NW11 6LP	£8,584	67	2	Terraced House
£770K	04/22	0.83 mi	44, Asmuns Hill, London, Greater London NW11 6EU	-	-	2	Terraced House
£462.5K	09/23	0.84 mi	68b, Holdenhurst Avenue, London, Greater London N12 0HX	£7,115	65	2	Detached House
£285K	09/22	0.86 mi	12, Linksway, London, Greater London NW4 1JR	-	-	2	Terraced House
£405K	01/24	0.87 mi	194, Falloden Way, London, Greater London NW11 6JE	£5,063	80	2	Terraced House
£520.9K	12/22	0.87 mi	56, Manor Park Road, London, Greater London N2 0SJ	£7,892	66	2	Semi-Detached House
£870K	12/22	0.88 mi	8, West Avenue, London, Greater London N3 1AX	£7,982	109	2	Semi-Detached House
£775K	06/21	0.88 mi	62, Oakwood Road, London, Greater London NW11 6RL	-	-	2	Terraced House
£895K	10/22	0.88 mi	109, Willifield Way, London, Greater London NW11 6YH	£12,095	74	2	Semi-Detached House
£880K	11/20	0.9 mi	93, Willifield Way, London, Greater London NW11 6YH	£10,732	82	2	Semi-Detached House
£706K	04/24	0.91 mi	31, Asmuns Place, London, Greater London NW11 7XE	£10,475	67	2	Semi-Detached House
£541K	08/23	0.93 mi	29, Lee Road, London, Greater London NW7 1LJ	-	-	2	Semi-Detached House
£610K	01/24	0.94 mi	2, Red Lion Hill, London, Greater London N2 8ED	£10,893	56	2	Terraced House
£615K	12/20	0.94 mi	17, Heath View, London, Greater London N2 0QD	£7,500	82	2	Terraced House
£680K	08/23	0.94 mi	29, Heath View, London, Greater London N2 0QD	-	-	2	Terraced House
£680K	08/23	0.94 mi	29, Heath View, London, Greater London N2 0QD	-	-	2	Terraced House
£680K	10/23	0.94 mi	17, Heath View, London, Greater London N2 0QD	£8,293	82	2	Terraced House
£745K	03/21	0.95 mi	430, Long Lane, London, Greater London N2 8JL	£8,663	86	2	Semi-Detached House
£500K	05/21	0.96 mi	81, Willifield Way, London, Greater London NW11 6YL	£5,849	85	2	Semi-Detached House
£825K	09/21	0.97 mi	154, Hampstead Way, London, Greater London NW11 7XD	£9,612	86	2	Semi-Detached House
£715K	06/21	0.99 mi	23, Temple Fortune Hill, London, Greater London NW11 7XL	£10,362	69	2	Terraced House
£810K	10/22	0.99 mi	21, Temple Fortune Hill, London, Greater London NW11 7XL	£11,571	70	2	Semi-Detached House

Local Rents

50 rents from £1.5K/mo to £2.5K/mo, average is £2K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,500	06/24	0 mi	Spencer Close, Finchley, N3	2	Flat
£2,200	05/24	0.06 mi	East End Road, London, N3	2	Flat
£1,700	07/24	0.06 mi	East End Road, Finchley, N3	2	Flat
£2,000	05/24	0.07 mi	Spencer Close, Finchley	2	Flat
£2,200	06/24	0.07 mi	Spencer Close, Regents Park Road, London N3	2	Flat
£1,751	02/25	0.09 mi	-	2	Flat
£2,100	08/24	0.09 mi	Cavendish Avenue, Finchley Central, London	2	Flat
£2,100	06/24	0.1 mi	East End Road, London	2	Flat
£2,500	08/24	0.1 mi	Spencer Close, Finchley, N3	2	Flat
£1,850	07/24	0.11 mi	Regents Park Road, Finchley, London, N3	2	Flat
£2,050	07/24	0.13 mi	Stanhope Avenue, Finchley, N3	2	Flat
£2,000	08/24	0.14 mi	Regents Park Road, Finchley Central	2	Flat
£2,100	10/24	0.14 mi	-	2	Flat
£1,800	05/24	0.14 mi	Glenhill Close, Finchley, N3	2	Flat
£1,800	07/24	0.15 mi	Glenhill Close, Finchley, N3	2	Flat
£1,800	05/24	0.15 mi	Glenhill Close, Finchley, N3	2	Flat
£2,200	05/24	0.16 mi	Regents Park Road, Finchley Central, N3	2	Flat
£2,000	12/24	0.16 mi	-	2	Flat
£1,750	07/24	0.16 mi	Glenhill Close (MS075), Finchley. N3	2	Flat
£2,175	01/25	0.16 mi	-	2	Flat
£2,175	01/25	0.16 mi	-	2	Flat
£2,350	07/24	0.16 mi	Mountfield Road, Finchley, N3	2	Flat
£2,100	02/24	0.16 mi	-	2	House
£1,950	06/24	0.17 mi	-	2	Terraced House
£1,800	07/24	0.17 mi	Glenhill Close, Finchley, N3	2	Flat
£1,800	03/25	0.17 mi	-	2	Flat
£1,750	06/24	0.17 mi	College Terrace, Finchley Central, N3	2	Terraced House
£1,700	03/25	0.18 mi	-	2	Flat
£2,200	02/25	0.19 mi	-	2	Flat
£1,750	07/24	0.19 mi	-	2	Flat
£1,800	04/25	0.19 mi	-	2	Flat
£1,600	06/24	0.19 mi	Mountfield Road, Finchley, N3	2	Flat
£2,100	11/24	0.19 mi	-	2	Flat
£2,200	02/25	0.19 mi	-	2	Flat
£1,525	06/24	0.19 mi	Lichfield Grove, Finchley Central, N3	2	Flat
£1,950	05/24	0.19 mi	-	2	Flat
£2,000	06/24	0.2 mi	Mountfield Road, Finchley	2	Flat
£2,200	02/25	0.2 mi	-	2	Flat
£1,850	05/24	0.2 mi	Lichfield Grove, Finchley Central, N3	2	Flat
£1,800	03/25	0.2 mi	-	2	Flat
£1,895	12/24	0.2 mi	-	2	Flat
£1,800	09/24	0.21 mi	-	2	Flat
£2,100	01/25	0.21 mi	-	2	Flat
£1,850	08/24	0.21 mi	The Avenue, Finchley Central	2	Flat
£1,900	08/24	0.22 mi	Lichfield Grove, Finchley Central, N3	2	Flat
£2,000	02/24	0.22 mi	Lichfield Grove, Finchley, London, N3	2	Flat
£1,750	03/25	0.23 mi	-	2	Flat
£1,900	08/24	0.23 mi	Fabian Court, 57-59 Station Road, Finchley Central	2	Flat
£2,000	08/24	0.23 mi	Station Road ,Finchley Central, N3	2	Flat
£1,975	09/24	0.23 mi	-	2	Flat

Local Area Statistics

Population in N3	26,58426,584
Population in London	4,771,9214,771,921
Town centre distance	6.11 miles away6.11 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.29 miles away0.29 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-30%-30%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+19%+19%

Property History

Listed for £475,000

July 18, 2024

Floor Plans

Description

Share of Freehold Term 125 years from 29/03/1983 +
Entrance Hall +
Dining Room open plan to +
Double Aspect Lounge, Access to Own Patio and Garden +
Fitted Kitchen +
Two Double Bedrooms +
Shower Room and Walk-in Closet En-Suite to Bedroom 1 +
Bathroom/WC +
Communal Gardens +
Reserved Parking Bay and Entryphone +

Property Description

Two bedroom ground floor flat with own westerly-facing terrace and direct access to gardens. This purpose-built block is set in landscaped grounds and has the benefit of new elevators, 3 porters, security camera system and soft water to each block. The flat is in need of some updating.

Property Details

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Agent Details

Chancellors, Finchley

020 3871 3815

Next Steps?

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