2 Bed Flat, Single Let, London, N22 8RW, £350,000

Palmerston Road, London, N22 8RW - 5 views - 7 months ago

Leasehold

BTL

ROI: 2%

~61 m²

+7 photos

ValuationUndervalued

Sold Prices	£210K - £585K
Sold Prices/m²	£3.3K/m² - £8.8K/m²

Square Metres	~60.67 m²
Price/m²	£5.8K/m²
Value Estimate	£394,771£394,771
BMV	13%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£87,500£87,500
Stamp Duty & Legal Fees	£16,700£16,700
Total Cash In	£104,200£104,200

Cash Out
Rent Range	£1,450 - £2,600£1,450 - £2,600
Rent Estimate	£1,581
Running Costs/mo	£1,430£1,430
Cashflow/mo	£151£151
Cashflow/yr	£1,813£1,813
ROI	2%2%
Gross Yield	5%5%

Local Sold Prices

50 sold prices from £210K to £585K, average is £433.8K. £3.3K/m² to £8.8K/m², average is £6.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£311K	04/21	0.09 mi	17, Collings Close, London, Greater London N22 8RL	£4,785	65	2	Flat
£492K	05/21	0.12 mi	56, Kelvin Avenue, London, Greater London N13 4TG	£7,130	69	2	Flat
£460K	01/21	0.13 mi	67, Kelvin Avenue, London, Greater London N13 4TH	£7,188	64	2	Flat
£345K	06/21	0.13 mi	231a, Whittington Road, London, Greater London N22 8YW	£5,000	69	2	Flat
£475K	02/24	0.14 mi	92, Palmerston Crescent, London, Greater London N13 4NH	£6,507	73	2	Flat
£375K	11/23	0.16 mi	93a, Bowes Road, London, Greater London N13 4RU	£4,464	84	2	Flat
£520K	12/22	0.18 mi	112d, Marlborough Road, London, Greater London N22 8NN	-	-	2	Flat
£420K	07/23	0.2 mi	22, Elmdale Road, London, Greater London N13 4UL	£6,320	66	2	Flat
£385K	04/23	0.22 mi	141a, Whittington Road, London, Greater London N22 8YP	£5,658	68	2	Flat
£500K	06/21	0.22 mi	4a, Elvendon Road, London, Greater London N13 4SJ	-	-	2	Flat
£522.2K	10/23	0.22 mi	48a, Elvendon Road, London, Greater London N13 4SJ	-	-	2	Flat
£230K	09/23	0.22 mi	28c, Lascotts Road, London, Greater London N22 8JN	-	-	2	Flat
£403K	06/21	0.22 mi	Flat A, 12, Lascotts Road, London, Greater London N22 8JN	£7,750	52	2	Flat
£390K	09/21	0.23 mi	13, Beech Road, London, Greater London N11 2DA	£6,842	57	2	Flat
£435K	01/23	0.23 mi	13, Beech Road, London, Greater London N11 2DA	£7,632	57	2	Flat
£425K	02/21	0.23 mi	21, Beech Road, London, Greater London N11 2DA	£6,746	63	2	Flat
£480K	06/21	0.23 mi	116d, Marlborough Road, London, Greater London N22 8NN	-	-	2	Flat
£370K	03/21	0.26 mi	39c, Palmerston Crescent, London, Greater London N13 4UE	-	-	2	Flat
£397K	01/23	0.26 mi	29a, Hardwicke Road, London, Greater London N13 4SL	£6,360	62	2	Flat
£285K	03/23	0.26 mi	21b, Hardwicke Road, London, Greater London N13 4SL	-	-	2	Flat
£437.5K	01/23	0.27 mi	34b, Palmerston Crescent, London, Greater London N13 4UA	-	-	2	Flat
£340K	05/23	0.28 mi	9, Davey Close, London, Greater London N13 4EX	£5,574	61	2	Flat
£375K	06/21	0.28 mi	13a, Cheshire Road, London, Greater London N22 8JJ	-	-	2	Flat
£540K	12/20	0.28 mi	5a, Westbury Road, London, Greater London N11 2DB	-	-	2	Flat
£210K	12/22	0.28 mi	5, Westbury Road, London, Greater London N11 2DB	£3,333	63	2	Flat
£370K	06/21	0.29 mi	2a, Parkhurst Road, London, Greater London N22 8JQ	-	-	2	Flat
£415K	02/21	0.29 mi	Garden Floor Flat, 28, Parkhurst Road, London, Greater London N22 8JQ	-	-	2	Flat
£422K	03/23	0.29 mi	42, Hardwicke Road, London, Greater London N13 4SG	£6,918	61	2	Flat
£446K	10/22	0.29 mi	38a, Hardwicke Road, London, Greater London N13 4SG	-	-	2	Flat
£443K	06/23	0.31 mi	67, Marlborough Road, London, Greater London N22 8NJ	£6,712	66	2	Flat
£585K	01/23	0.32 mi	138a, Brownlow Road, London, Greater London N11 2BP	£5,571	105	2	Flat
£475K	12/22	0.32 mi	102, Brownlow Road, London, Greater London N11 2BP	-	-	2	Flat
£485K	10/20	0.33 mi	15a, Belmont Avenue, Palmers Green, London, Greater London N13 4HD	-	-	2	Flat
£405K	03/21	0.34 mi	21a, Elmwood Avenue, London, Greater London N13 4HG	-	-	2	Flat
£440K	11/20	0.35 mi	32, Goring Road, London, Greater London N11 2DD	£6,377	69	2	Flat
£470K	01/23	0.35 mi	120, Lyndhurst Road, London, Greater London N22 5AT	£6,963	68	2	Flat
£350K	12/20	0.35 mi	7, Lyndhurst Road, London, Greater London N22 5AX	£8,750	40	2	Flat
£435K	07/23	0.35 mi	99, Lyndhurst Road, London, Greater London N22 5AX	£8,056	54	2	Flat
£440K	06/21	0.38 mi	44b, Natal Road, London, Greater London N11 2HX	-	-	2	Flat
£371.8K	12/20	0.38 mi	First Floor Flat B, 11, Arcadian Gardens, London, Greater London N22 5AA	-	-	2	Flat
£392.5K	11/22	0.39 mi	22, Pilgrims Close, London, Greater London N13 4HX	£5,947	66	2	Flat
£438.8K	10/21	0.39 mi	First Floor Flat, 2, Hampshire Road, London, Greater London N22 8LR	£7,977	55	2	Flat
£440K	06/23	0.39 mi	Ground Floor Flat, 71, Natal Road, London, Greater London N11 2HT	£5,641	78	2	Flat
£432.5K	02/23	0.42 mi	27, Palmerston Road, London, Greater London N22 8QH	£6,865	63	2	Flat
£422K	03/24	0.42 mi	5a, Palmerston Road, London, Greater London N22 8QH	£5,944	71	2	Flat
£450K	11/20	0.42 mi	41a, Palmerston Road, London, Greater London N22 8QH	£6,250	72	2	Flat
£515K	10/23	0.42 mi	21a, Palmerston Road, London, Greater London N22 8QH	£7,055	73	2	Flat
£417K	02/23	0.42 mi	7a, Sidney Road, London, Greater London N22 8LT	-	-	2	Flat
£480K	10/23	0.44 mi	4a, Woodside Road, London, Greater London N22 5HU	£6,761	71	2	Flat
£495K	02/21	0.44 mi	24a, Woodside Road, London, Greater London N22 5HU	£7,071	70	2	Flat

Local Rents

50 rents from £1.4K/mo to £2.6K/mo, average is £1.8K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,000	01/25	0.06 mi	-	2	Terraced House
£1,500	03/25	0.09 mi	-	2	Flat
£1,750	05/24	0.09 mi	-	2	House
£1,650	05/24	0.12 mi	-	2	House
£1,650	05/24	0.12 mi	Palmers Green, London, N13	2	Flat
£1,500	05/24	0.13 mi	Kelvin Avenue, London, N13	2	Flat
£2,100	07/24	0.14 mi	Palmerston Road, N22, Bowes Park, London, N22	2	Flat
£1,625	05/24	0.16 mi	Whittington Road, Bowes Park, N22 8YL	2	Flat
£1,550	12/24	0.21 mi	-	2	Flat
£1,450	05/24	0.21 mi	Lascotts Road, Wood Green, N22 8JN	2	Flat
£1,795	04/25	0.22 mi	-	2	Flat
£1,650	05/24	0.24 mi	Elvendon Road, London, N13	2	Flat
£1,750	06/24	0.24 mi	Lascotts Road ,Wood Green, London, N22	2	Flat
£1,750	06/24	0.24 mi	Lascotts Road ,Wood Green, London, N22	2	Flat
£1,650	06/24	0.24 mi	Palmerston House, Palmers Green, N13	2	Flat
£1,650	07/24	0.25 mi	Marlborough Road, Bowes Park, London, N22	2	Flat
£2,000	02/25	0.25 mi	-	2	Flat
£1,725	06/24	0.25 mi	-	2	Flat
£1,650	06/24	0.25 mi	-	2	Flat
£1,800	06/24	0.26 mi	-	2	Flat
£1,800	05/24	0.26 mi	Palmerston Crescent	2	Flat
£1,900	06/24	0.26 mi	Palmerston Crescent, Palmers Green, N13	2	Flat
£2,100	06/24	0.27 mi	Manor Road, Wood Green	2	Flat
£1,750	05/24	0.27 mi	Manor Road,	2	Flat
£1,850	05/24	0.28 mi	Davey Close Palmers Green N13	2	Flat
£2,495	05/24	0.28 mi	-	2	Flat
£2,600	05/24	0.28 mi	-	2	Flat
£2,495	05/24	0.28 mi	Bowes Park, London, N22	2	Flat
£2,600	05/24	0.28 mi	Whittington Road, London, N22	2	Flat
£1,850	06/24	0.28 mi	-	2	Flat
£1,600	05/24	0.28 mi	Davey Close, London, N13	2	Flat
£1,850	06/24	0.28 mi	Davey Close, London, N13	2	Flat
£1,700	12/24	0.28 mi	Davey Close, Palmers Green, London	2	Flat
£1,750	07/24	0.29 mi	Palmerston Road, Wood Green	2	Flat
£2,500	01/25	0.29 mi	-	2	Flat
£1,900	07/24	0.29 mi	-	2	Flat
£2,350	05/24	0.31 mi	-	2	House
£2,290	05/24	0.31 mi	-	2	House
£1,850	07/24	0.32 mi	Parkhurst Road, N22 8JQ	2	Flat
£1,675	06/24	0.32 mi	Brownlow Road, London, N11	2	Flat
£1,700	12/24	0.32 mi	-	2	Flat
£1,800	07/24	0.33 mi	Whittington Road, London, N22	2	Flat
£1,900	02/24	0.33 mi	-	2	Flat
£1,746	02/25	0.33 mi	High Road, Bounds Green, N22	2	Flat
£1,850	04/25	0.34 mi	-	2	Flat
£1,900	06/24	0.34 mi	Eleanor Road	2	Terraced House
£1,849	04/25	0.34 mi	-	2	Flat
£2,000	01/25	0.34 mi	-	2	Flat
£2,000	03/25	0.34 mi	-	2	Flat
£1,750	05/24	0.35 mi	Brownlow Road, Bounds Green	2	Flat

Local Area Statistics

Population in N22	42,99642,996
Population in London	4,771,9214,771,921
Town centre distance	5.76 miles away5.76 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	0.37 miles away0.37 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-2%-2%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+9%+9%

Property History

Listed for £350,000

September 18, 2024

Floor Plans

Description

Beautifully Presented Top Floor Apartment +
Bright & Well Proportioned Rooms +
Lounge/Dining Room +
Separate Modern Fitted Kitchen +
Stylish Bathroom +
Loft Storage Space +
Allocated Parking Space (Private Car Park To Rear) +
Long Lease +

Guide Price £350,000-£375,000.A beautifully presented two bedroom apartment, occupying the top floor of this low rise purpose built block. Bathed in natural light and offering well proportioned rooms with contemporary interior. Further comprising; spacious entrance hall with access to loft storage space, reception/dining room overlooking the rear communal garden and private car park, separate modern fitted kitchen and stylish three piece bathroom. Benefitting from long lease and allocated parking space. Ideally located on a residential turning and within walking distance of the popular Myddleton Road, with an array of coffee shops, bars and restaurants. Only 0.6 miles away (approx) to Bowes Park Overground station and 0.8 (approx) to Bounds Green Tube.

Agent Details

Castles Estate Agents, Palmers Green

020 3873 6768

Next Steps?

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

Similar Properties

Like this property? Maybe you'll like these ones close by too.

2 Bed Flat, Single Let, London, N22 8RJ

£330,000

3 views • 4 months ago • 68 m²

Sold STC

2 Bed Flat, Single Let, London, N13 4TG

£400,000

4 views • 6 months ago • 75 m²

6 Bed House, Single Let, London, N13 4TG

£1,000,000

2 months ago • 186 m²

Under Offer

3 Bed Flat, Single Let, London, N13 4UY