3 Bed Terraced House, Refurb/BRRR, Potters Bar, EN6 3PZ, £950,000

St Giles Avenue, Potters Bar, EN6 3PZ - 1 views - 6 months ago

Refurb/BRRR
Planning
~104 m²
+11 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£237,500

Stamp Duty & Legal Fees

£84,950

Refurb Costs

£55,152

Bridging Loan Interest

£24,938

Total Cash In

£404,289

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£631,705

Mortgage (After Refinance)

£473,779

Mortgage LTV

75%

Cash Left In

£404,289

Equity

£157,926

Rent Range

£1,675 - £2,500

Rent Estimate

£2,149

Running Costs/mo

£2,424

Cashflow/mo

£-275

Cashflow/yr

£-3,299

Gross Yield

3%













Local Rents

23 rents from £1.7K/mo to £2.5K/mo, average is £2.2K/mo.

RentDateDistanceAddressBeds 
£2,30004/250.33 mi-3
£2,20004/240.37 miMimms Hall Road,Potters Bar,EN63
£2,20012/240.39 miMimms Hall Road, Potters Bar3
£2,00003/240.51 miCranborne Road, Potters Bar, Hertfordshire, EN63
£2,50002/240.52 mi-3
£2,30002/250.53 mi-3
£2,40004/240.54 miAuckland Road, Potters Bar3
£2,45002/250.61 mi-3
£2,00004/240.68 miRushfield, Potters Bar, EN6 3HW3
£2,25012/240.73 mi-3
£2,20002/240.73 mi-3
£1,99512/240.73 mi-3
£2,20003/240.73 miDugdale Hill Lane, Potters Bar, EN63
£2,25003/250.73 mi-3
£2,05002/240.75 mi-3
£2,25004/250.75 mi-3
£2,00003/240.82 miClive Close, Potters Bar, EN63
£2,20004/240.85 miMutton Lane, Potters Bar, EN63
£1,95004/240.9 miLaurel Avenue, Potters Bar, Hertfordshire, EN63
£1,85003/240.93 miBlanche Lane, South Mimms, EN6 3PD3
£1,67504/240.94 miBlanche Lane, South Mimms EN63
£2,00012/240.94 mi-3
£2,30001/251.07 mi-3

Local Area Statistics

Population in EN6

29,067

Population in Potters Bar

29,075

Town centre distance

1.37 miles away

Nearest school

0.10 miles away

Nearest train station

0.95 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+16%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Listed for £950,000

October 16, 2024

Floor Plans

Description

  • End Of Terrace House +
  • Three Bedrooms +
  • Lounge/Diner +
  • Conservatory +
  • Kitchen +
  • Ground Floor Cloakroom +
  • Gardens +
  • Additional Plot Of Land To Side +
  • Garage +
  • Chain Free +

A THREE BEDROOM END OF TERRACE HOUSE REQUIRING MODERNISATION WITH THE ADDED BENEFIT OF AN ADDITIONAL PLOT OF LAND INCUDED AS PART OF THIS SALE. We feel the property has a lot of potential to extend and much more (subject to planning permission). The M25 and A1M are within close proximity.

Entrance Hall
Via glazed multi pane entrance door, glazed window to front, stairs to first floor and landing, understairs storage cupboard housing the electrical isolating fuse board, electric and gas meter.

Lounge/Diner
Lounge Area; Double glazed bay window to front, radiator, decorative feature fireplace, open arch through to Dining Area; Double glazed window to rear and radiator.

Ground Floor WC
Double glazed windows, low flush close coupled WC, corner wall mounted wash hand basin, radiator.

Conservatory
Double glazed windows, Double glazed double doors to rear garden and two radiators.

Kitchen
Comprising of a number of wall and base units, worktop surface areas, one and half bowl single drainer sink with mixer tap, space for a free standing cooker, extractor above, built in storage cupboard, part glazed door to a lean to covered area with a door to the rear garden.

Stairs to First Floor and Landing
Access to a loft area, doors to;

Bedroom One
Double glazed window to front, decorative feature fireplace and radiator.

Bedroom Two
Double glazed window to rear and side, radiator, cupboard housing a radiator and shelving.

Bedroom Three
Double glazed window to rear and a radiator.

Bathroom
Comprising of a panel enclose bath with mixer tap and a wall mounted shower, wall mounted wash hand basin with a cupboard below, high flush WC, double glazed window to front, two radiators and part tiled walls.

Exterior
The garden area is mainly laid to lawn to the front, side and rear of the property with a number of shrubs and trees, a patio area to the rear of the house. A covered storage area and a number of garden sheds.

There is an additional plot of land to the side of the property of approximately 0.29 of an acre as well as a garage all on separate titles.

what3words /// showed.crisp.bronze

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Raine & Co, Potters Bar

01707 954070

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.