2 Bed Flat, Refurb/BRRR, London, N18 2DN, £285,000

Kimberley Road , Meridian Water, London, N18 2DN - 12 views - 8 months ago

BTL

Refurb/BRRR

ROI: 6%

~54 m²

+3 photos

ValuationOvervalued

Sold Prices	£230K - £415K
Sold Prices/m²	£4K/m² - £7.2K/m²

Square Metres	~53.50 m²
Price/m²	£5.3K/m²
Value Estimate	£229,500£229,500

End Value (After Refurb)	£285,000£285,000

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£71,250£71,250
Stamp Duty & Legal Fees	£11,500£11,500
Refurb Costs	£28,324£28,324
Bridging Loan Interest	£7,481£7,481
Total Cash In	£120,305£120,305

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£285,000£285,000
Mortgage (After Refinance)	£213,750£213,750
Mortgage LTV	75%75%
Cash Left In	£120,305£120,305
Equity	£71,250£71,250
Rent Range	£1,500 - £3,500£1,500 - £3,500
Rent Estimate	£1,931
Running Costs/mo	£1,297£1,297
Cashflow/mo	£634£634
Cashflow/yr	£7,610£7,610
ROI	6%6%
Gross Yield	8%8%

Local Sold Prices

38 sold prices from £230K to £415K, average is £272K. £4K/m² to £7.2K/m², average is £4.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£266K	12/21	0.17 mi	70, Leopold Road, London, Greater London N18 2HX	£5,216	51	2	Flat
£260K	04/21	0.18 mi	46, Leopold Road, London, Greater London N18 2EW	£4,409	59	2	Flat
£270K	11/21	0.18 mi	50, Leopold Road, London, Greater London N18 2HX	-	-	2	Flat
£275K	04/23	0.2 mi	26, Culpepper Close, London, Greater London N18 2DZ	£4,661	59	2	Flat
£270K	03/23	0.2 mi	12, Culpepper Close, London, Greater London N18 2DZ	£4,091	66	2	Flat
£300K	06/21	0.26 mi	106, Middleham Road, London, Greater London N18 2SD	£5,882	51	2	Flat
£250K	01/22	0.35 mi	56, Leopold Road, London, Greater London N18 2HX	£4,237	59	2	Flat
£270K	11/21	0.35 mi	50, Leopold Road, London, Greater London N18 2HX	-	-	2	Flat
£245K	02/22	0.36 mi	6, Inverness Road, London, Greater London N18 2EE	£5,000	49	2	Flat
£342K	02/23	0.38 mi	123, Northumberland Park, London, Greater London N17 0TL	£6,333	54	2	Flat
£285K	07/23	0.47 mi	Flat 3, Whittingham House, Northumberland Park, London, Greater London N17 0QG	£3,958	72	2	Flat
£245K	03/21	0.48 mi	Flat 14, Corbridge House, Northumberland Park, London, Greater London N17 0QE	-	-	2	Flat
£307K	03/21	0.48 mi	69, Northumberland Park, London, Greater London N17 0TG	£6,532	47	2	Flat
£285K	11/22	0.48 mi	1, Taylor Close, London, Greater London N17 0UB	£4,914	58	2	Flat
£233K	02/22	0.55 mi	Flat 7, Bridport House, Colyton Way, London, Greater London N18 2XJ	-	-	2	Flat
£318K	10/20	0.58 mi	24, Shelbourne Road, London, Greater London N17 9YH	£7,195	44	2	Flat
£265K	07/22	0.58 mi	28, Herne Mews, London, Greater London N18 2QZ	-	-	2	Flat
£274K	03/23	0.59 mi	10, Park Lane Close, London, Greater London N17 0HL	£4,281	64	2	Flat
£257.5K	09/21	0.63 mi	42, Grilse Close, London, Greater London N9 0UU	£4,952	52	2	Flat
£275K	03/22	0.63 mi	41, Jeremys Green, London, Greater London N18 2NB	£4,260	65	2	Flat
£262K	05/21	0.77 mi	Flat 4, Romany House, Beaconsfield Road, London, Greater London N9 0PY	-	-	2	Flat
£260K	12/22	0.81 mi	52, Pycroft Way, London, Greater London N9 9XY	£4,407	59	2	Flat
£335K	06/21	0.84 mi	157, Shelbourne Road, London, Greater London N17 9YD	-	-	2	Flat
£326K	06/21	0.84 mi	161a, Shelbourne Road, London, Greater London N17 9YD	£5,344	61	2	Flat
£270K	09/22	0.85 mi	49, Pycroft Way, London, Greater London N9 9XU	£5,348	50	2	Flat
£260K	03/21	0.85 mi	53, Pycroft Way, London, Greater London N9 9XU	£4,906	53	2	Flat
£321K	06/21	0.88 mi	28, Gascoigne Close, London, Greater London N17 8BA	£5,350	60	2	Flat
£310K	04/21	0.89 mi	17, Academia Way, London, Greater London N17 8HE	£4,559	68	2	Flat
£262K	03/21	0.9 mi	40, Siddons Road, London, Greater London N17 9UT	£4,596	57	2	Flat
£400K	11/22	0.9 mi	46, Siddons Road, London, Greater London N17 9UT	-	-	2	Flat
£320K	08/21	0.91 mi	Flat 37, Somerset Hall, Creighton Road, London, Greater London N17 8SH	-	-	2	Flat
£275K	11/20	0.91 mi	Flat 55, Somerset Hall, Creighton Road, London, Greater London N17 8SH	-	-	2	Flat
£290K	11/22	0.92 mi	Flat 46, Somerset Hall, Creighton Road, London, Greater London N17 8SH	-	-	2	Flat
£251K	10/21	0.92 mi	14, Dickens Lane, London, Greater London N18 1PH	-	-	2	Flat
£230K	06/22	0.93 mi	23, Dickens Lane, London, Greater London N18 1PH	£5,610	41	2	Flat
£315K	10/23	0.97 mi	16a, Sunnyside Road North, London, Greater London N9 9SW	-	-	2	Flat
£415K	04/23	0.97 mi	52, Pembury Road, London, Greater London N17 8LY	-	-	2	Flat
£263K	09/21	0.99 mi	128, Mandeville Court, London, Greater London E4 8JD	-	-	2	Flat

Local Rents

42 rents from £1.5K/mo to £3.5K/mo, average is £1.8K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,595	03/25	0.03 mi	-	2	Flat
£1,550	05/24	0.2 mi	Culpepper Close, Edmonton, London, N18	2	Flat
£1,800	03/25	0.22 mi	-	2	Flat
£1,500	01/25	0.31 mi	-	2	Flat
£1,600	03/25	0.31 mi	-	2	Flat
£1,600	01/25	0.33 mi	-	2	Flat
£1,850	06/24	0.35 mi	Leyburn Grove, Edmonton, London	2	House
£1,800	01/25	0.37 mi	-	2	Flat
£1,950	01/25	0.39 mi	-	2	Flat
£2,400	03/25	0.4 mi	-	2	Flat
£1,850	03/25	0.42 mi	-	2	Flat
£1,800	05/24	0.43 mi	Trulock Road, Northumberland Park, Tottenham, London, N17	2	Terraced House
£1,850	03/25	0.43 mi	-	2	Flat
£1,900	01/25	0.44 mi	-	2	Flat
£1,662	05/24	0.46 mi	Trulock Road, Tottenham, London, N17	2	Flat
£1,750	06/24	0.46 mi	Trulock Road, Tottenham, London, N17	2	Flat
£1,700	06/24	0.49 mi	Brantwood Road, Tottenham, London, N17	2	Flat
£3,500	02/25	0.49 mi	-	2	Flat
£1,850	02/25	0.5 mi	-	2	Flat
£1,900	05/24	0.5 mi	-	2	Flat
£1,800	12/24	0.51 mi	-	2	Flat
£2,495	01/25	0.52 mi	-	2	Bungalow
£2,495	02/25	0.52 mi	-	2	Bungalow
£2,395	02/25	0.52 mi	-	2	Bungalow
£2,345	02/25	0.52 mi	-	2	Bungalow
£2,345	02/25	0.52 mi	-	2	Bungalow
£2,345	02/25	0.52 mi	-	2	Bungalow
£2,195	03/25	0.52 mi	-	2	Bungalow
£1,750	03/25	0.52 mi	-	2	Flat
£2,150	12/24	0.53 mi	-	2	Semi-Detached House
£1,850	02/25	0.56 mi	-	2	Flat
£1,700	02/24	0.56 mi	-	2	Flat
£1,700	02/24	0.56 mi	-	2	Flat
£1,700	05/24	0.56 mi	-	2	Flat
£1,800	06/24	0.56 mi	Briaris Close, N17, Tottenham, London, N17	2	Flat
£1,700	05/24	0.58 mi	Denmark Street, London, N17	2	Flat
£1,700	06/24	0.58 mi	Swaythling Close, London	2	Flat
£1,650	06/24	0.59 mi	Park Lane, Tottenham, London, N17	2	Flat
£1,550	05/24	0.6 mi	Park Lane, TOTTENHAM, N17	2	Flat
£1,650	03/25	0.6 mi	-	2	Flat
£2,000	03/25	0.6 mi	-	2	Flat
£2,000	03/25	0.6 mi	-	2	Flat

Local Area Statistics

Population in N18	31,59831,598
Population in London	4,771,9214,771,921
Town centre distance	6.06 miles away6.06 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.16 miles away0.16 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+19%+19%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+10%+10%

Property History

Listed for £285,000

August 20, 2024

Floor Plans

Description

Share of Freehold with 999 Years on the lease +
No service Charges - No Ground Rent +
Two Bedroom Ground Floor flat 53 sqm +
Own Private Garden +
In need of modernisation +
Ideal for someone looking to add value +
Buy to let or to live in +
Walking distance to Meridian Water Station +
Chain Free +

EPC rated C. 999-year lease and Share of Freehold. Rest or Invest! Knights Residential are delighted to offer for sale this 53 sqm ground floor two-bedroom conversion flat with sole use of rear garden. The property is for someone looking for a doer-upper and wants to put their own stamp on it, maybe change the layout and add value. Offered Chain free. Call Knights to book your viewing.

The property is within walking distance of the new Meridian Water Train Station and the Newly Built Tottenham Stadium making it an ideal investment or residential purchase to any incoming buyer. Viewings Highly Advised! Chain Free!

Nearby attractions include the multi-use Tottenham Hotspur Stadium capable of staging major sporting and non-sporting events, including NFL, rugby and concerts, as well as Tottenham Hotspur football matches.

Registering your interest early is strongly recommended to avoid any disappointment.

Agent Details

Knights Residential, London

020 3889 9185

Next Steps?

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

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