2 Bed Flat, Refurb/BRRR, Watford, WD17 4LR, £325,000

Elizabeth Court, 170 Hempstead Road, WD17 4LR - 5 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 2%
~74 m²
+3 photos

ValuationFair Value

Sold Prices£115K - £820K
Sold Prices/m²£2.3K/m² - £7.6K/m²

 

 

Square Metres

~74.23 m²
Price/m²£4.4K/m²

Value Estimate

£325,000

 

 

End Value (After Refurb)

£408,048

Uplift in Value

+26%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£21,200

Refurb Costs

£39,281

Bridging Loan Interest

£8,531

Total Cash In

£152,012

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£408,048

Mortgage (After Refinance)

£306,036

Mortgage LTV

75%

Cash Released

£62,286

Cash Left In

£89,726

Equity

£102,012

Rent Range

£1,200 - £3,050

Rent Estimate

£1,914

Running Costs/mo

£1,678

Cashflow/mo

£236

Cashflow/yr

£2,832

ROI

2%

Gross Yield

7%

Local Sold Prices

50 sold prices from £115K to £820K, average is £309.5K. £2.3K/m² to £7.6K/m², average is £5K/m².

PriceDateDistanceAddressBeds 
£350K06/210.22 mi19, Bromet Close, Watford, Hertfordshire WD17 4LP2
£340K12/200.22 mi41, Bromet Close, Watford, Hertfordshire WD17 4LP2
£325K11/200.22 mi14, Bellamy Close, Watford, Hertfordshire WD17 4YJ2
£342.5K09/200.25 miFlat 47, Roseberry Court, Grandfield Avenue, Watford, Hertfordshire WD17 4PQ2
£365K04/210.25 miFlat 33, Roseberry Court, Grandfield Avenue, Watford, Hertfordshire WD17 4PQ2
£330K11/230.25 miFlat 7, Roseberry Court, Grandfield Avenue, Watford, Hertfordshire WD17 4PQ2
£250K05/210.32 mi172, Cassiobury Drive, Watford, Hertfordshire WD17 3AJ2
£340K11/220.38 miTop Flat, 77, Sussex Road, Watford, Hertfordshire WD24 5HR2
£355K09/210.39 mi31, The Spinney, Watford, Hertfordshire WD17 4QF2
£310K07/210.39 mi28, The Spinney, Watford, Hertfordshire WD17 4QF2
£297K10/200.39 mi2, The Spinney, Watford, Hertfordshire WD17 4QF2
£350K04/230.39 mi31, The Spinney, Watford, Hertfordshire WD17 4QF2
£335K02/210.39 mi23, The Spinney, Watford, Hertfordshire WD17 4QF2
£410K02/230.43 mi11, Woodgate Mews, Watford, Hertfordshire WD17 4PG2
£290K06/210.43 mi9, Leaford Crescent, Watford, Hertfordshire WD24 5JQ2
£420K06/210.44 mi6, Woodgate Mews, Watford, Hertfordshire WD17 4PG2
£400K08/230.44 mi16, Woodgate Mews, Watford, Hertfordshire WD17 4PG2
£258.5K02/230.46 miFlat 15, Branscombe House, Gisburne Way, Watford, Hertfordshire WD24 5HQ2
£252.5K01/210.47 miFlat 19, Branscombe House, Gisburne Way, Watford, Hertfordshire WD24 5HQ2
£280K04/230.47 miFlat 26, Branscombe House, Gisburne Way, Watford, Hertfordshire WD24 5HQ2
£250K05/210.47 miFlat 21, Branscombe House, Gisburne Way, Watford, Hertfordshire WD24 5HQ2
£275K05/230.47 miFlat 24, Branscombe House, Gisburne Way, Watford, Hertfordshire WD24 5HQ2
£255K11/230.47 miFlat 25, Branscombe House, Gisburne Way, Watford, Hertfordshire WD24 5HQ2
£200K12/200.61 mi12, Church Road, Watford, Hertfordshire WD17 4PU2
£200K12/200.61 mi12, Church Road, Watford, Hertfordshire WD17 4PU2
£305K01/230.61 mi84b, Courtlands Drive, Watford, Hertfordshire WD17 4HT2
£330K01/230.64 mi125, Ridge Lane, Watford, Hertfordshire WD17 4SX2
£200K02/240.66 miMalden Lodge, Flat 9, Alexandra Road, Watford, Hertfordshire WD17 4BS2
£377.5K12/220.69 mi34a, Hempstead Road, Watford, Hertfordshire WD17 4ER2
£315K06/210.7 mi53a, Courtlands Drive, Watford, Hertfordshire WD17 4HX2
£365K01/230.7 mi59a, Courtlands Drive, Watford, Hertfordshire WD17 4HX2
£594K03/210.72 mi17, Rosecroft Drive, Watford, Hertfordshire WD17 4JG2
£310K12/200.77 mi17a, Essex Road, Watford, Hertfordshire WD17 4EL2
£408K02/230.77 mi4b, Essex Road, Watford, Hertfordshire WD17 4EP2
£237.5K06/230.8 mi326a, St Albans Road, Watford, Hertfordshire WD24 6PQ2
£235K09/210.8 mi25, Brushrise, Watford, Hertfordshire WD24 6SZ2
£211K12/220.8 mi45, Brushrise, Watford, Hertfordshire WD24 6SZ2
£272.5K03/230.81 mi15, Sandringham Road, Watford, Hertfordshire WD24 7AY2
£390K11/220.83 mi12, Mulberry Close, Watford, Hertfordshire WD17 4UZ2
£820K10/210.86 miFlat 1, Russells House, Greenbank Road, Watford, Hertfordshire WD17 4RJ2
£274K02/210.86 mi396b, St Albans Road, Watford, Hertfordshire WD24 6PJ2
£309K09/210.88 mi2, Beechwood Rise, Watford, Hertfordshire WD24 6SF2
£435K04/210.9 mi35, St Johns Road, Watford, Hertfordshire WD17 1QB2
£220K07/210.92 mi31, Gladesmere Court, Watford, Hertfordshire WD24 6LX2
£115K02/210.92 mi11, Gladesmere Court, Watford, Hertfordshire WD24 6LX2
£280.5K10/220.93 miFlat 12, Rugby Lodge, Courtlands Close, Watford, Hertfordshire WD24 5GQ2
£247K11/200.94 miFlat 12, Rugby Lodge, Courtlands Close, Watford, Hertfordshire WD24 5GQ2
£278.8K03/210.95 mi441, North Western Avenue, Watford, Hertfordshire WD24 5NX2
£290K03/230.95 mi437, North Western Avenue, Watford, Hertfordshire WD24 5NX2
£315K01/230.96 mi435, North Western Avenue, Watford, Hertfordshire WD24 5NX2

Local Rents

39 rents from £1.2K/mo to £3K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,65510/240.06 mi-2
£1,55002/250.06 mi-2
£1,89510/240.11 mi-2
£1,30003/250.11 mi-2
£2,95012/240.22 mi-2
£3,05003/250.22 mi-2
£1,59912/240.25 mi-2
£1,65010/240.25 mi-2
£1,70001/250.26 mi-2
£1,50010/240.27 mi-2
£1,80010/240.27 mi-2
£1,59502/250.27 mi-2
£1,80003/250.34 mi-2
£1,65012/240.34 mi-2
£1,89503/250.38 mi-2
£1,65002/240.39 mi-2
£1,20003/240.39 miWillow Grange, Watford, Hertfordshire2
£1,80010/240.4 mi-2
£1,65011/240.4 mi-2
£1,65011/240.4 mi-2
£1,77501/250.41 mi-2
£1,60010/240.43 mi-2
£1,75010/240.43 mi-2
£2,65003/250.47 mi-2
£2,20610/240.48 mi-2
£2,08603/250.48 mi-2
£1,65003/250.52 mi-2
£1,50001/240.52 mi-2
£1,55010/240.53 miParker Street, Watford2
£1,60002/240.55 mi-2
£1,70002/250.56 mi-2
£1,70001/250.56 miParker Street, Watford, WD242
£2,75003/250.57 mi-2
£1,55001/250.58 mi-2
£2,70010/240.58 mi-2
£2,95012/240.58 mi-2
£2,95012/240.58 mi-2
£2,55001/250.58 mi-2
£2,55003/250.58 mi-2

Local Area Statistics

Population in WD17

15,825

Population in Watford

117,094

Town centre distance

0.84 miles away

Nearest school

0.10 miles away

Nearest train station

0.89 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £325,000

October 23, 2024

Floor Plans

Description

  • Chain Free +
  • Two Bedrooms +
  • Garage +
  • Long Lease +

Situated within a secure, gated development off Hempstead Road, this first floor, two bedroom apartment is offered for sale with no onward chain, presenting a fantastic opportunity for those looking to modernise a home to their taste.

In need of complete renovation, the property offers excellent potential, featuring two generously sized double bedrooms, both equipped with fitted cupboards. The apartment includes a well proportioned 17ft reception room, providing ample space for seating and dining whilst offering pleasant views of the landscaped communal gardens. Additionally, the property is fitted with a three-piece bathroom and kitchen.

Other key features of the apartment include off street parking, double glazing, gas central heating, and a garage offering further parking or extra storage space.

Elizabeth Court enjoys an excellent location with easy access to a variety of local amenities. Families will appreciate its proximity to reputable schools such as Nascot Wood and Cassiobury Junior Schools. Everyday convenience is ensured with local shops nearby, while Watford Junction and the Metropolitan Station are easily accessible for commuting. The vibrant Watford town centre, with its wide range of shops, restaurants, and leisure facilities, is also just a short distance away

Agent Details

Dey King and Haria Estate Agents, Watford

01923 961351

Next Steps?

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