Potential 4-Bed HMO, London, E16 3NT, £475,000

Mortlake Road, Canning Town, London, E16 3NT - 6 views - 7 months ago

Sold STC
HMO
ROI: 6%
~93 m²
+19 photos

ValuationUndervalued

Sold Prices£332.5K - £570K
Sold Prices/m²£3.5K/m² - £7K/m²

 

 

Square Metres

~93 m²
Price/m²£5.1K/m²

Value Estimate

£515,021
BMV8%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£118,750

Stamp Duty & Legal Fees

£26,700

Total Cash In

£145,450

 

 

Cash Out

 

Room Rate

£858

Gross Rent

£3,432

Running Costs/mo

£2,748

Cashflow/mo

£684

Cashflow/yr

£8,210

ROI

6%

Gross Yield

9%

Local Sold Prices

50 sold prices from £332.5K to £570K, average is £435K. £3.5K/m² to £7K/m², average is £5.5K/m².

PriceDateDistanceAddressBeds 
£380K01/210 mi2, Mortlake Road, London, Greater London E16 3NT3
£535K03/210.02 mi69, Varley Road, London, Greater London E16 3NR3
£478K03/210.02 mi103, Varley Road, London, Greater London E16 3NR3
£391K11/200.04 mi92, Varley Road, London, Greater London E16 3NS3
£360K03/230.04 mi64, Varley Road, London, Greater London E16 3NS3
£332.5K12/220.07 mi40, Devonshire Road, London, Greater London E16 3NB3
£415K01/230.15 mi21, Gresham Road, East Ham, London, Greater London E16 3DU3
£425K06/210.18 mi61, Shipman Road, London, Greater London E16 3DT3
£435K02/230.23 mi44, Young Road, London, Greater London E16 3RR3
£410K06/210.28 mi70, Colman Road, London, Greater London E16 3LY3
£520K10/220.32 mi20, South Molton Road, London, Greater London E16 1PE3
£447K03/210.33 mi46, Botha Road, London, Greater London E13 8PQ3
£442K06/210.36 mi116, Colman Road, London, Greater London E16 3LZ3
£555K02/210.36 mi3, Eclipse Road, London, Greater London E13 8LX3
£350K03/210.37 mi9, Randolph Approach, London, Greater London E16 3HU3
£520K01/230.37 mi34, Murray Square, Custom House, London, Greater London E16 3AL3
£411K07/230.38 mi35, Palmer Road, London, Greater London E13 8NU3
£405K02/210.39 mi24, Palmer Road, London, Greater London E13 8NT3
£360K02/210.42 mi37, Westport Road, London, Greater London E13 8NW3
£435K05/210.43 mi106, Cumberland Road, London, Greater London E13 8LR3
£435K05/210.43 mi6, Boreham Avenue, London, Greater London E16 3AG3
£436K11/200.43 mi50, Boreham Avenue, London, Greater London E16 3AG3
£425K12/220.43 mi5, Boreham Avenue, London, Greater London E16 3AG3
£380K09/210.44 mi66, Jenkins Road, London, Greater London E13 8NP3
£495K01/230.46 mi50, Fulmer Road, London, Greater London E16 3TF3
£440K12/200.46 mi78, Fulmer Road, London, Greater London E16 3TF3
£400K06/210.47 mi18, Giralda Close, London, Greater London E16 3SZ3
£500K12/220.47 mi27, Giralda Close, London, Greater London E16 3SZ3
£490K06/210.47 mi4, Long Mark Road, London, Greater London E16 3TH3
£490K06/210.47 mi4, Long Mark Road, London, Greater London E16 3TH3
£400K06/210.48 mi18, Giralda Close, London, Greater London E16 3SZ3
£500K05/230.49 mi3, High Meads Road, London, Greater London E16 3TN3
£505K03/230.49 mi2, High Meads Road, London, Greater London E16 3TN3
£461K12/210.51 mi7, Seaton Close, London, Greater London E13 8JJ3
£480K04/220.52 mi1, Fulmer Road, London, Greater London E16 3TE3
£435K03/230.54 mi52, Hayday Road, London, Greater London E16 4AZ3
£570K12/220.55 mi14, Scoulding Road, London, Greater London E16 1NT3
£520K05/230.56 mi93, Cumberland Road, London, Greater London E13 8LH3
£400K05/210.56 mi31, Avenons Road, London, Greater London E13 8HU3
£410K11/200.57 mi64, Wanlip Road, London, Greater London E13 8QP3
£380K03/210.58 mi6, Adine Road, London, Greater London E13 8LL3
£435K11/200.58 mi54, Avenons Road, London, Greater London E13 8HT3
£420K11/200.58 mi14, Pollard Close, London, Greater London E16 1LG3
£490K06/210.61 mi6, Appleby Road, London, Greater London E16 1LQ3
£485K02/210.61 mi58, Wigston Road, London, Greater London E13 8QW3
£470K12/220.62 mi6, Bernard Cassidy Street, London, Greater London E16 4DB3
£440K09/210.63 mi74, Belgrave Road, London, Greater London E13 8RS3
£406K02/210.63 mi34, Belgrave Road, London, Greater London E13 8RS3
£417K04/230.64 mi27, Belgrave Road, London, Greater London E13 8RT3
£450K11/220.64 mi71, Wigston Road, London, Greater London E13 8QN3

Local Area Statistics

Population in E16

44,880

Population in London

4,771,921

Town centre distance

5.89 miles away

Nearest school

0.10 miles away

Nearest train station

0.35 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Buyer's market

Capital growth (5yrs)

-3%

Property History

Listed for £475,000

August 27, 2024

Floor Plans

Description

  • EPC Rating C +
  • Freehold House +
  • 3/4 Bedrooms +
  • Open Plan Living +
  • Solar Power System Installed +
  • HMO Planning Approved +
  • No Onward Chain +

This well-located three-bedroom mid-terrace house on Mortlake Road offers a fantastic opportunity for first-time buyers or investors. Chain-free and in fair condition throughout, this property is ready for you to make it your own with minimal effort.

The home features a spacious living area, a functional kitchen, and three good-sized bedrooms, providing ample space for a growing family or shared living. One of the standout features is the solar panel system, which helps keep energy bills low—an excellent addition for the eco-conscious buyer.

The property had approved planning in July 2023 for a 6 person HMO (Use Class C4)

Located in the vibrant area of Canning Town, you'll enjoy easy access to local amenities, schools, and transport links, making this an ideal home for commuters. Don't miss the chance to view this property and envision the potential it offers.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
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. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

WLT240287/2

Agent Details

Your Move Sales & Lettings, Walthamstow

020 4538 5092

Next Steps?

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