2 Bed Flat, Refurb/BRRR, Woodford Green, IG8 8AN, £325,000

Chigwell Road, Woodford Green, IG8 8AN - 3 views - 6 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 4%
~68 m²
+6 photos

ValuationFair Value

Sold Prices£200K - £670K
Sold Prices/m²£4.2K/m² - £8.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.8K/m²

Value Estimate

£328,250

 

 

End Value (After Refurb)

£388,393

Uplift in Value

+20%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£14,700

Refurb Costs

£36,033

Bridging Loan Interest

£8,531

Total Cash In

£142,264

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£388,393

Mortgage (After Refinance)

£291,295

Mortgage LTV

75%

Cash Released

£47,545

Cash Left In

£94,719

Equity

£97,098

Rent Range

£1,450 - £5,500

Rent Estimate

£2,111

Running Costs/mo

£1,656

Cashflow/mo

£455

Cashflow/yr

£5,461

ROI

4%

Gross Yield

8%

Local Sold Prices

50 sold prices from £200K to £670K, average is £342K. £4.2K/m² to £8.6K/m², average is £5.5K/m².

PriceDateDistanceAddressBeds 
£375K06/210.16 mi62, Chapelmount Road, Woodford Green, Greater London IG8 8HW2
£375K06/210.16 mi62, Chapelmount Road, Woodford Green, Greater London IG8 8HW2
£325K12/210.19 mi9, Westfield Park Drive, Woodford Green, Greater London IG8 8FD2
£355K10/220.19 mi22, Chapelmount Road, Woodford Green, Greater London IG8 8HW2
£305K11/220.2 mi17, Wallers Close, Woodford Green, Greater London IG8 8BL2
£295K03/230.21 mi1, Love Lane, Woodford Green, Essex IG8 8BH2
£350K11/220.25 mi11, Oakwood Close, Woodford Green, Greater London IG8 8EQ2
£285K10/210.25 mi6, Copford Close, Woodford Green, Greater London IG8 8EH2
£630K11/200.51 miFlat 20, Sutherland House, Rosebury Square, Woodford Green, Greater London IG8 8NS2
£575K03/210.53 miFlat 2, Osborne House, Hampstead Avenue, Woodford Green, Greater London IG8 8RE2
£450K03/210.53 miFlat 5, The Manor, Regents Drive, Woodford Green, Greater London IG8 8RT2
£477.5K02/210.55 miFlat 1, Bradfield House, The Boulevard, Woodford Green, Greater London IG8 8GR2
£480K11/200.55 miFlat 16, The Manor, Regents Drive, Woodford Green, Greater London IG8 8RT2
£600K03/210.56 miFlat 15, Wentworth House, Hampstead Avenue, Woodford Green, Greater London IG8 8QB2
£670K04/210.56 miFlat 9, Wentworth House, Hampstead Avenue, Woodford Green, Greater London IG8 8QB2
£640K06/210.64 miFlat 7, Kensington House, Richmond Drive, Woodford Green, Greater London IG8 8RJ2
£460K02/210.65 miFlat 12, Kensington House, Richmond Drive, Woodford Green, Greater London IG8 8RJ2
£408K12/220.7 mi35, Finchingfield Avenue, Woodford Green, Greater London IG8 7JZ2
£377.5K06/210.7 mi33, Finchingfield Avenue, Woodford Green, Greater London IG8 7JZ2
£370K10/200.72 mi90, Finchingfield Avenue, Woodford Green, Greater London IG8 7JR2
£375K08/210.73 mi5, Roxwell Way, Woodford Green, Greater London IG8 7JY2
£300K06/210.76 mi23, Wedmore Avenue, Ilford, Greater London IG5 0XF2
£280K11/210.77 mi42, Chalford Walk, Woodford Green, Greater London IG8 8PH2
£300K05/210.79 mi333, Chigwell Road, Woodford Green, Greater London IG8 8PL2
£343K09/220.79 mi344, Fullwell Avenue, Ilford, Greater London IG5 0RY2
£300K12/220.79 mi92a, Snakes Lane East, Woodford Green, Greater London IG8 7HX2
£405K11/220.81 mi31, Fyfield Road, Woodford Green, Greater London IG8 7JU2
£305K01/210.81 mi139a, Ravensbourne Gardens, Ilford, Greater London IG5 0XG2
£310K12/200.81 mi123, Ravensbourne Gardens, Ilford, Greater London IG5 0XG2
£315K02/220.81 mi113, Ravensbourne Gardens, Ilford, Greater London IG5 0XG2
£400K05/210.82 mi4, Cherry Tree Rise, Buckhurst Hill, Greater London IG9 6EX2
£336K04/210.82 mi5, Cherry Tree Rise, Buckhurst Hill, Greater London IG9 6ET2
£310K06/210.82 mi31, Cherry Tree Rise, Buckhurst Hill, Greater London IG9 6ET2
£385K10/220.82 mi1, Cherry Tree Rise, Buckhurst Hill, Greater London IG9 6ET2
£275K06/210.84 mi43a, Caernarvon Drive, Ilford, Greater London IG5 0XE2
£310K02/220.84 mi68, Caernarvon Drive, Ilford, Greater London IG5 0XE2
£285K10/200.86 mi40a, Station Way, Buckhurst Hill, Essex IG9 6LN2
£320K01/210.86 mi32, Station Way, Buckhurst Hill, Essex IG9 6LN2
£210K03/230.87 miFlat 266, Sunset Court, Navestock Crescent, Woodford Green, Greater London IG8 7BE2
£350K03/210.87 mi25, St Anthonys Avenue, Woodford Green, Greater London IG8 7EP2
£305K06/210.87 mi53, St Anthonys Avenue, Woodford Green, Greater London IG8 7EP2
£345K10/220.88 mi38, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£390K12/220.89 mi30, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£341K11/210.89 mi32, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£370K11/210.89 mi64, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£200K12/220.91 miFlat 182, Lambourne Court, Navestock Crescent, Woodford Green, Greater London IG8 7BD2
£232K02/220.92 mi257a, Fullwell Avenue, Ilford, Greater London IG5 0RD2
£300K07/220.92 mi28a, Caernarvon Drive, Ilford, Greater London IG5 0XD2
£215K02/230.93 miFlat 90, Blenheim Court, Navestock Crescent, Woodford Green, Greater London IG8 7BB2
£325K01/210.93 miFlat 4, Highview House, Hornbeam Road, Buckhurst Hill, Essex IG9 6HH2

Local Rents

25 rents from £1.4K/mo to £5.5K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£1,80004/240.11 miThurlby House, Chigwell Road, Chigwell, Essex, IG82
£1,80002/240.12 miThurlby House, Chigwell Road, Woodford Green, IG82
£2,20005/240.12 miLatchingdon Gardens, Woodford Green2
£1,90004/240.14 miStoneycroft Road, Chigwell, Essex, IG82
£1,90006/240.14 miWoodford Green2
£1,80003/250.2 mi-2
£1,85005/240.2 miOak Wood Close, Woodford Green2
£1,70005/240.21 miCopford Close, Woodford Green2
£1,45004/240.22 mi-2
£1,75004/240.25 miOak Wood Close, Chigwell, Essex, IG82
£1,85005/240.25 miWoodford Green2
£1,85005/240.25 miWoodford Green2
£1,85005/240.25 miOak Wood Close, Chigwell, Essex, IG82
£1,60004/240.25 miWoodford Green, IG82
£1,60005/240.25 miWoodford Green, IG82
£2,65004/240.27 miGaynes Hill Road, WOODFORD GREEN, IG82
£1,60004/240.36 miClaybury Road2
£1,90004/240.37 miUplands Road, Woodford Green, IG82
£5,50005/240.47 miManor Road, Chigwell2
£2,19504/240.53 miRosebury Square, Repton Park IG82
£2,25005/240.55 miThe Manor, Regents Drive, Woodford Green, Greater London, IG82
£2,10004/240.55 miThe Manor, Repton Park, Woodford Green, IG82
£2,20012/240.55 mi-2
£2,30012/240.59 mi-2
£2,30012/240.59 mi-2

Local Area Statistics

Population in IG8

35,894

Town centre distance

0.85 miles away

Nearest school

0.20 miles away

Nearest train station

0.86 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+27%

Sales demand

Balanced market

Capital growth (5yrs)

+12%

Property History

Listed for £325,000

October 30, 2024

Sold for £56,000

1995

Description

  • Ground Floor +
  • 2 Bedrooms +
  • In Need Of Modernasation +

Situated in a sought-after location, this two-bedroom ground floor flat presents a rare opportunity for homeowners and investors alike. Boasting a chain-free status, this property offers the potential to create a bespoke living space tailored to the new owner's preferences. The flat comprises two well-proportioned bedrooms and ample living space, all situated conveniently on the ground floor, allowing for easy access and comfortable living. Although in need of modernisation, this blank canvas provides a perfect opportunity for those seeking to add their personal touch and enhance the property's potential.

Stepping outside, residents can enjoy a private outdoor space measuring 4.9 by 2.4 metres, perfect for creating a tranquil sanctuary in the bustling city. This compact yet versatile outdoor area offers the potential for a charming patio, a lush garden retreat, or a stylish entertaining space, providing endless possibilities for outdoor living and enjoyment. Additionally, the property benefits from its convenient location, offering easy access to local amenities, transportation links, and green spaces, making it an ideal choice for those seeking a balance of urban convenience and peaceful surroundings. Don't miss the chance to transform this property into your dream home or a lucrative investment opportunity.

Agent Details

Birchills, London

020 3909 9252

Next Steps?

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