3 Bed Semi-Detached House, Refurb/BRRR, London, NW7 2NU, £500,000

48 Salcombe Gardens, London NW7 2NU - 6 views - 6 months ago

Sold STC

Refurb/BRRR

ROI: 3%

~93 m²

+6 photos

ValuationFair Value

Sold Prices	£189.6K - £1.4M
Sold Prices/m²	£2.6K/m² - £10.7K/m²

Square Metres	~93 m²
Price/m²	£5.4K/m²
Value Estimate	£505,000£505,000

End Value (After Refurb)	£579,280£579,280
Uplift in Value	+16%+16%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£125,000£125,000
Stamp Duty & Legal Fees	£28,700£28,700
Refurb Costs	£49,200£49,200
Bridging Loan Interest	£13,125£13,125
Total Cash In	£217,775£217,775

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£579,280£579,280
Mortgage (After Refinance)	£434,460£434,460
Mortgage LTV	75%75%
Cash Released	£59,460£59,460
Cash Left In	£158,315£158,315
Equity	£144,820£144,820
Rent Range	£2,000 - £6,998£2,000 - £6,998
Rent Estimate	£3,051
Running Costs/mo	£2,440£2,440
Cashflow/mo	£611£611
Cashflow/yr	£7,327£7,327
ROI	3%3%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £189.6K to £1.4M, average is £650K. £2.6K/m² to £10.7K/m², average is £6.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£602.5K	06/21	0.03 mi	14, Salcombe Gardens, London, Greater London NW7 2NT	£6,494	93	3	Semi-Detached House
£625K	12/20	0.03 mi	26, Salcombe Gardens, London, Greater London NW7 2NT	£6,068	103	3	Semi-Detached House
£515K	07/23	0.03 mi	84, Salcombe Gardens, London, Greater London NW7 2NT	-	-	3	Semi-Detached House
£700K	06/21	0.03 mi	78, Engel Park, London, Greater London NW7 2HP	£6,604	106	3	Semi-Detached House
£770K	06/23	0.05 mi	49, Salcombe Gardens, London, Greater London NW7 2NX	£5,310	145	3	Semi-Detached House
£620K	05/23	0.06 mi	73, Engel Park, London, Greater London NW7 2HN	£7,654	81	3	Semi-Detached House
£615K	06/23	0.07 mi	33, Woodcote Avenue, London, Greater London NW7 2PG	-	-	3	Terraced House
£505K	12/22	0.07 mi	45, Woodcote Avenue, London, Greater London NW7 2PG	-	-	3	Terraced House
£545K	09/21	0.07 mi	5, Woodcote Avenue, London, Greater London NW7 2PG	-	-	3	Terraced House
£750K	03/21	0.11 mi	22, Bittacy Rise, London, Greater London NW7 2HG	£6,381	118	3	Detached House
£700K	06/21	0.11 mi	78, Engel Park, London, Greater London NW7 2HP	£6,604	106	3	Semi-Detached House
£480K	10/23	0.12 mi	47, Salcombe Gardens, London, Greater London NW7 2NU	-	-	3	Semi-Detached House
£660K	05/23	0.15 mi	67, Bittacy Rise, London, Greater London NW7 2HH	£6,947	95	3	Semi-Detached House
£690K	10/20	0.21 mi	38, Grants Close, London, Greater London NW7 1DD	£5,798	119	3	Semi-Detached House
£560K	09/21	0.24 mi	49, Grants Close, London, Greater London NW7 1DE	-	-	3	Semi-Detached House
£540K	05/21	0.25 mi	173, Bittacy Hill, London, Greater London NW7 1RT	£6,923	78	3	Terraced House
£810K	05/21	0.26 mi	15, Bittacy Park Avenue, London, Greater London NW7 2HA	-	-	3	Semi-Detached House
£725K	10/23	0.26 mi	161, Bittacy Hill, London, Greater London NW7 1RT	-	-	3	Terraced House
£690K	06/23	0.26 mi	163, Bittacy Hill, London, Greater London NW7 1RT	£7,931	87	3	Terraced House
£189.6K	04/23	0.3 mi	24, Honiton Gardens, London, Greater London NW7 1GF	£2,614	73	3	Terraced House
£580K	09/23	0.32 mi	156, Devonshire Road, London, Greater London NW7 1DJ	£6,374	91	3	Semi-Detached House
£625K	01/24	0.32 mi	154, Devonshire Road, London, Greater London NW7 1DJ	£6,944	90	3	Semi-Detached House
£600K	03/22	0.34 mi	4, Hatherleigh Close, London, Greater London NW7 1HZ	£8,219	73	3	Terraced House
£723.8K	01/21	0.34 mi	2, Hatherleigh Close, London, Greater London NW7 1HZ	£6,959	104	3	Terraced House
£960K	10/23	0.34 mi	Beech Tree Cottage, The Ridgeway, London, Greater London NW7 1RP	-	-	3	Detached House
£670K	04/23	0.35 mi	42, Pursley Road, London, Greater London NW7 2BS	-	-	3	Semi-Detached House
£660K	12/23	0.36 mi	8, Shirwell Close, London, Greater London NW7 1HW	£8,919	74	3	Terraced House
£499K	11/21	0.37 mi	30, Bittacy Road, London, Greater London NW7 1BP	£6,085	82	3	Terraced House
£653K	04/23	0.38 mi	95, Devonshire Road, London, Greater London NW7 1EA	£7,176	91	3	Semi-Detached House
£640K	01/21	0.38 mi	95, Devonshire Road, London, Greater London NW7 1EA	£7,033	91	3	Semi-Detached House
£530K	12/22	0.4 mi	4, Osborn Gardens, London, Greater London NW7 1DY	-	-	3	Semi-Detached House
£635K	04/21	0.42 mi	9, Devonshire Crescent, London, Greater London NW7 1DN	£6,684	95	3	Semi-Detached House
£612K	03/21	0.42 mi	98, Devonshire Road, London, Greater London NW7 1DL	£6,245	98	3	Semi-Detached House
£620K	11/20	0.42 mi	100, Devonshire Road, London, Greater London NW7 1DL	£6,739	92	3	Semi-Detached House
£750K	09/23	0.43 mi	32, Featherstone Road, London, Greater London NW7 2BN	£5,859	128	3	Semi-Detached House
£750K	09/23	0.43 mi	36, Featherstone Road, London, Greater London NW7 2BN	-	-	3	Semi-Detached House
£650K	02/21	0.44 mi	3, Kingsbridge Drive, London, Greater London NW7 1HJ	£6,190	105	3	Terraced House
£645K	09/23	0.46 mi	85, Devonshire Road, London, Greater London NW7 1DR	-	-	3	Semi-Detached House
£822.1K	10/22	0.46 mi	22, Arlington Green, London, Greater London NW7 1GW	£7,982	103	3	Terraced House
£620K	06/21	0.47 mi	4, Oakhampton Road, London, Greater London NW7 1NH	£6,843	91	3	Semi-Detached House
£630K	05/23	0.47 mi	28, Oakhampton Road, London, Greater London NW7 1NH	£8,077	78	3	Semi-Detached House
£692.5K	12/23	0.49 mi	11, Lee Road, London, Greater London NW7 1LJ	£6,595	105	3	Semi-Detached House
£650K	12/22	0.51 mi	89, Oakhampton Road, London, Greater London NW7 1NG	-	-	3	Semi-Detached House
£815K	07/23	0.55 mi	20, Eleanor Crescent, London, Greater London NW7 1AH	£10,724	76	3	Semi-Detached House
£1.4M	01/23	0.64 mi	Valmara, 15, Tudor Close, London, Greater London NW7 2BG	-	-	3	Detached House
£700K	10/22	0.65 mi	6, Morphou Road, London, Greater London NW7 1ED	£5,556	126	3	Terraced House
£625K	04/21	0.66 mi	9, Sebergham Grove, London, Greater London NW7 2AU	-	-	3	Terraced House
£702K	07/23	0.66 mi	8, Sebergham Grove, London, Greater London NW7 2AU	£6,382	110	3	Terraced House
£772K	05/21	0.7 mi	177, Holders Hill Road, London, Greater London NW7 1ND	£5,252	147	3	Semi-Detached House
£715K	03/24	0.7 mi	26, Bampton Drive, London, Greater London NW7 2AY	£5,861	122	3	Semi-Detached House

Local Rents

40 rents from £2K/mo to £7K/mo, average is £3K/mo.

Rent	Date	Distance	Address	Beds	Type
£3,012	06/24	0.03 mi	Engel Park, Mill Hill, London NW7	3	Detached House
£2,300	06/24	0.06 mi	Engel Park, Mill Hill, London NW7	3	Detached House
£2,400	08/24	0.13 mi	Bittacy Rise, Mill Hill, London, NW7	3	Bungalow
£2,600	06/24	0.24 mi	Bittacy Hill, Mill Hill East, London, NW7	3	House
£2,600	06/24	0.24 mi	Bittacy Hill, Mill Hill East, London, NW7	3	House
£2,450	07/24	0.26 mi	Bittacy Hill, Mill Hill, NW7	3	Terraced House
£2,300	06/24	0.27 mi	Bittacy Hill, Mill Hill East	3	Terraced House
£2,400	06/24	0.29 mi	Sanders Lane, London	3	Terraced House
£3,200	06/24	0.31 mi	Wilkes Close, London, NW7	3	Terraced House
£2,200	06/24	0.32 mi	-	3	Terraced House
£2,297	06/24	0.34 mi	Kingsbridge Drive, Mill Lane, NW7	3	Flat
£2,300	06/24	0.34 mi	Kingsbridge Drive, Mill Hill, NW7	3	Terraced House
£2,295	06/24	0.36 mi	Bittacy Road, Mill Hill, NW7	3	Terraced House
£2,350	09/24	0.37 mi	Bittacy Road, Mill Hill	3	Terraced House
£2,200	10/24	0.38 mi	-	3	Semi-Detached House
£3,995	06/24	0.43 mi	Henry Darlot Drive, Millbrook Park, NW7	3	Flat
£3,500	06/24	0.43 mi	Henry Darlot Drive London NW7	3	Terraced House
£3,995	07/24	0.43 mi	Henry Darlot Drive, Tufnell Park, London	3	Terraced House
£3,995	07/24	0.43 mi	Henry Darlot Drive, Mill Hill East, London	3	Terraced House
£3,995	08/24	0.43 mi	Henry Darlot Drive, Mill Hill East, London	3	Terraced House
£3,000	06/24	0.45 mi	Henry Darlot Drive, Mill Hill, London, NW7	3	Terraced House
£2,750	08/24	0.46 mi	Royal Engineers Way, Mill Hill	3	Flat
£3,400	08/24	0.48 mi	Ayrton House, Mill Hill, London, NW7	3	Flat
£3,250	08/24	0.49 mi	India Way, London, NW7	3	Terraced House
£3,250	08/24	0.49 mi	India Way, London, NW7	3	Terraced House
£3,250	08/24	0.49 mi	India Way, London, NW7	3	Terraced House
£3,250	08/24	0.49 mi	India Way, London, NW7	3	Terraced House
£3,500	06/24	0.5 mi	Henry Darlot Drive, Mill Hill	3	Terraced House
£2,600	07/24	0.5 mi	Medawar Drive, London	3	Flat
£3,000	08/24	0.5 mi	Royal Engineers Way, London, NW7	3	Terraced House
£3,000	08/24	0.5 mi	Royal Engineers Way, London, NW7	3	Terraced House
£4,000	07/24	0.52 mi	Milespit Hill, Mill Hill	3	Terraced House
£2,795	06/24	0.53 mi	-	3	Flat
£2,795	06/24	0.53 mi	Guardhouse Way, London, NW7	3	Detached House
£3,600	08/24	0.55 mi	Ayrton House, Mill Hill, Ridgeway Views London NW7	3	Flat
£2,000	09/24	0.58 mi	-	3	Flat
£2,700	06/24	0.58 mi	Devonshire Road, Mill Hill, NW7	3	Detached House
£3,600	08/24	0.62 mi	-	3	Semi-Detached House
£6,998	06/24	0.62 mi	Hillview Road, Mill Hill NW7	3	Semi-Detached House
£3,000	06/24	0.62 mi	St Vincents Lane, Mill Hill	3	Detached House

Local Area Statistics

Population in NW7	25,13125,131
Population in London	4,771,9214,771,921
Town centre distance	7.52 miles away7.52 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.46 miles away0.46 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+15%+15%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+5%+5%

Property History

Listed for £500,000

October 18, 2024

Floor Plans

Description

Semi Detached +
Three Bedrooms +
In Need Of Modernisation +
Two reception Rooms +
Separate WC +
Freehold +
EPC Rating D +
Council Tax Band D +
Chain Free +

Absolute Property are pleased to offer this well proportioned chain free three bedroom semi detached house in need of complete modernisation. situated in a residential turning off Devonshire Road, close to popular schools & local shops and approximately one mile from Mill Hill East tube station. Benefits include double glazing, gas central heating, guest wc, and own rear garden. Viewing is highly recommended to avoid disappointment.

Entrance: - Upvc double glazed front door opening to:

Hallway: - Doors to lounge, kitchen, radiator, stairs to first floor landing, upvc double glazed frosted window to side aspect.

Lounge: - 4.37m x 4.04m (14'4 x 13'3) - Upvc double glazed bay window to front aspect, gas fireplace, radiator, tv socket, double doors to:

Dining Room: - 2.95m x 2.92m (9'8 x 9'7) - Radiator, door to kitchen, upvc double glazed sliding door opening to rear garden.

Kitchen: - 3.23m x 2.87m (10'7 x 9'5) - Range of eye and base level units, radiator, stainless steel sink drainer unit, upvc double glazed window and single door opening to rear garden.

First Floor Landing: - Doors to bedroom one, bedroom two, bedroom three, bathroom, separate wc, loft access, upvc double glazed frosted window to side aspect.

Bedroom One: - 3.56m x 3.30m (11'8 x 10'10) - Upvc double glazed window to front aspect, radiator, storage cupboard.

Bedroom Two: - 4.01m x 2.69m (13'2 x 8'10) - Two built in cupboards, radiator, two upvc double glazed windows to rear aspect.

Bedroom Three: - 2.62m x 2.59m (8'7 x 8'6) - Built in wardrobe, radiator, upvc double glazed window to front aspect, radiator.

Bathroom: - Comprising of vanity unit hand wash basin, bath with electric shower unit, radiator, upvc double glazed frosted window to rear aspect.

Guest Wc: - Comprising of low flush wc, upvc double glazed frosted window to side aspect.

Front Aspect: - Laid to lawn with shrub borders, steps leading down to front door.

Rear Garden: - Paved patio, rest laid to lawn, shrub borders, brick built shed.

Agent Details

Absolute Property Agents, Cuffley - Sales

020 3897 4901

Next Steps?

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

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