3 Bed Flat, Single Let, Ilford, IG2 6RJ, £240,000

Cranbrook Road, GANTS HILL, IG2 6RJ - 1 views - 7 months ago

Sold STC

Leasehold

BTL

ROI: 13%

~93 m²

+4 photos

ValuationUndervalued

Sold Prices	£90K - £1.8M
Sold Prices/m²	£1.1K/m² - £7.7K/m²

Square Metres	~93 m²
Price/m²	£2.6K/m²
Value Estimate	£297,600£297,600
BMV	24%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£60,000£60,000
Stamp Duty & Legal Fees	£13,200£13,200
Total Cash In	£73,200£73,200

Cash Out
Rent Range	£1,900 - £3,300£1,900 - £3,300
Rent Estimate	£1,950
Running Costs/mo	£1,160£1,160
Cashflow/mo	£790£790
Cashflow/yr	£9,480£9,480
ROI	13%13%
Gross Yield	10%10%

Local Sold Prices

20 sold prices from £90K to £1.8M, average is £352K. £1.1K/m² to £7.7K/m², average is £4.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£570K	05/22	0.52 mi	153, Quebec Road, Ilford, Greater London IG2 6AP	£7,724	74	3	Flat
£354K	11/22	0.52 mi	1, Barnardo Drive, Ilford, Greater London IG6 1EZ	£4,431	80	3	Flat
£220K	10/20	0.75 mi	782, Eastern Avenue, Ilford, Greater London IG2 7HY	£3,492	63	3	Flat
£220K	10/20	0.75 mi	782, Eastern Avenue, Ilford, Greater London IG2 7HY	£3,492	63	3	Flat
£290K	07/23	1.17 mi	54, Friars Close, Ilford, Greater London IG1 4AZ	£3,867	75	3	Flat
£320K	11/21	1.19 mi	1, Marlowe Close, Ilford, Greater London IG6 2LP	£6,154	52	3	Flat
£740K	11/22	1.53 mi	Flat 9, The Manor, Regents Drive, Woodford Green, Greater London IG8 8RT	-	-	3	Flat
£90K	05/23	1.6 mi	256a, Tomswood Hill, Ilford, Greater London IG6 2QS	£1,080	83	3	Flat
£807.5K	04/21	1.64 mi	Flat 18, Sutherland House, Rosebury Square, Woodford Green, Greater London IG8 8NS	-	-	3	Flat
£775K	03/21	1.66 mi	Flat 3, Goldsmith House, Brandesbury Square, Woodford Green, Greater London IG8 8RL	-	-	3	Flat
£315K	11/21	1.71 mi	16, Kingswood Road, Ilford, Greater London IG3 8UE	£4,632	68	3	Flat
£335K	06/21	1.73 mi	39, Claybury Road, Woodford Green, Greater London IG8 8JE	£4,589	73	3	Flat
£250K	12/20	1.76 mi	56, Daines Close, London, Greater London E12 5LQ	£5,952	42	3	Flat
£342K	06/21	1.77 mi	66, Roding Lane North, Woodford Green, Greater London IG8 8NN	£5,700	60	3	Flat
£366.5K	01/23	1.79 mi	Flat 22, Old Mill Court, Chigwell Road, London, Greater London E18 1NJ	-	-	3	Flat
£350K	01/21	1.81 mi	Flat 18, Old Mill Court, Chigwell Road, London, Greater London E18 1NJ	-	-	3	Flat
£362K	09/21	1.84 mi	Flat 24, Oakhall Court, Harrier Avenue, London, Greater London E11 2JF	-	-	3	Flat
£1.8M	01/21	1.95 mi	45, Stradbroke Drive, Chigwell, Essex IG7 5RA	£7,725	233	3	Flat
£364.5K	06/21	1.95 mi	36, Arundel Gardens, Ilford, Greater London IG3 9SX	£5,625	65	3	Flat
£785K	10/21	1.99 mi	Flat 5, Langham House, Makepeace Road, London, Greater London E11 1UX	-	-	3	Flat

Local Rents

50 rents from £1.9K/mo to £3.3K/mo, average is £2.3K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,400	12/24	0.11 mi	-	3	Terraced House
£2,250	04/24	0.12 mi	Icknield Drive, Gants Hill	3	Terraced House
£2,250	05/24	0.12 mi	Icknield Drive, Gants Hill	3	Terraced House
£2,250	05/24	0.12 mi	Icknield Drive, Gants Hill	3	Terraced House
£2,250	05/24	0.12 mi	Icknield Drive, Gants Hill	3	Terraced House
£2,500	03/25	0.12 mi	-	3	Flat
£2,150	04/24	0.12 mi	-	3	Bungalow
£2,200	04/24	0.12 mi	-	3	Bungalow
£2,350	08/24	0.15 mi	Ilford, IG6	3	Terraced House
£2,800	08/24	0.17 mi	-	3	Semi-Detached House
£2,800	07/24	0.17 mi	-	3	Terraced House
£2,600	12/24	0.18 mi	-	3	Terraced House
£2,200	12/24	0.19 mi	-	3	Flat
£1,900	04/24	0.21 mi	Little Gearies, Barkingside	3	Flat
£1,900	05/24	0.21 mi	Little Gearies, Barkingside	3	Flat
£2,200	09/24	0.22 mi	Bute Road, Ilford, Essex, IG6	3	Terraced House
£2,000	07/24	0.22 mi	-	3	Flat
£2,450	04/24	0.25 mi	-	3	Terraced House
£2,500	12/24	0.26 mi	-	3	Terraced House
£2,400	01/25	0.26 mi	-	3	Terraced House
£2,100	11/24	0.32 mi	-	3	Terraced House
£2,200	04/24	0.34 mi	-	3	Terraced House
£2,500	05/24	0.35 mi	Eastern Avenue, Gants Hill, Essex IG2	3	Terraced House
£2,700	03/25	0.35 mi	-	3	Terraced House
£2,750	04/24	0.36 mi	Otley Drive, Ilford, IG2	3	Semi-Detached House
£2,750	05/24	0.36 mi	-	3	Semi-Detached House
£2,050	08/24	0.39 mi	Emmott Avenue, Ilford, Essex. IG6	3	Terraced House
£2,050	08/24	0.39 mi	-	3	Terraced House
£2,500	03/25	0.4 mi	-	3	Flat
£2,200	05/24	0.42 mi	-	3	Flat
£2,000	12/24	0.43 mi	-	3	Flat
£2,300	01/25	0.45 mi	-	3	Semi-Detached House
£2,100	08/24	0.45 mi	Ardwell Avenue, Ilford, IG6	3	Terraced House
£2,100	08/24	0.45 mi	-	3	Terraced House
£1,900	04/25	0.45 mi	-	3	Terraced House
£2,500	03/25	0.46 mi	-	3	Terraced House
£2,300	12/24	0.47 mi	-	3	Semi-Detached House
£2,250	07/24	0.48 mi	Chase Lane, Barkingside	3	House
£2,200	05/24	0.49 mi	Tring Close, Ilford, IG2	3	Semi-Detached House
£2,600	12/24	0.5 mi	-	3	Terraced House
£2,500	03/25	0.5 mi	-	3	Terraced House
£2,500	04/24	0.5 mi	Beechwood Gardens, IG5 0AE	3	Terraced House
£2,495	12/24	0.51 mi	-	3	Semi-Detached House
£2,100	04/24	0.52 mi	Longwood Gardens, East London, IG5	3	Flat
£2,100	05/24	0.53 mi	-	3	Flat
£2,200	04/24	0.54 mi	-	3	Flat
£2,000	08/24	0.54 mi	-	3	Terraced House
£2,300	05/24	0.54 mi	Longwood Gardens, Ilford, IG5	3	House
£3,300	12/24	0.54 mi	-	3	Terraced House
£3,300	02/25	0.54 mi	-	3	Terraced House

Local Area Statistics

Population in IG2	28,25428,254
Population in Ilford	181,468181,468
Town centre distance	0.47 miles away0.47 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.40 miles away0.40 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+7%+7%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+24%+24%

Property History

Listed for £240,000

September 12, 2024

Floor Plans

Description

THREE BEDROOMS +
SECOND FLOOR FLAT +
BALCONY +
COUNCIL TAX - BAND B +
EPC - E +
LEASEHOLD +

A fantastic opportunity for buy-to-let investors. This second-floor flat, located above commercial premises, offers 3 bedrooms, 1 bathroom, a fitted kitchen, and a reception room. The property is ideally situated with nearby schools, local amenities, public transport links, and parks. Additionally, it features a balcony, adding an outdoor element to this property. Please call our sales team for an appointment to view. The current lease is 189 years from 25th December 1974, we have been advised by the vendor that the service charge is £2,850 per year and no ground rent.

Agent Details

Payne & Co, Ilford

020 3873 8289

Next Steps?

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

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3 Bed Flat, Single Let, Ilford, IG2 6RJ, £240,000

ValuationUndervalued

CashflowsOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

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Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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