2 Bed Flat, Refurb/BRRR, Ilford, IG1 2EY, £280,000

Madras Road, Ilford, IG1 2EY - 4 views - 5 months ago

Leasehold
Refurb/BRRR
ROI: 4%
~68 m²
+5 photos

ValuationFair Value











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£70,000

Stamp Duty & Legal Fees

£16,700

Refurb Costs

£36,033

Bridging Loan Interest

£7,350

Total Cash In

£131,833

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£326,899

Mortgage (After Refinance)

£245,174

Mortgage LTV

75%

Cash Released

£35,174

Cash Left In

£96,659

Equity

£81,725

Rent Range

£750 - £2,200

Rent Estimate

£1,912

Running Costs/mo

£1,424

Cashflow/mo

£488

Cashflow/yr

£5,856

ROI

4%

Gross Yield

8%













Local Rents

50 rents from £750/mo to £2.2K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£1,80004/250.07 mi-2
£1,80004/240.1 mi-2
£1,90005/240.12 mi-2
£1,90012/240.12 mi-2
£1,85012/240.15 mi-2
£2,10003/250.16 mi-2
£1,95002/250.17 mi-2
£1,95003/250.18 mi-2
£1,85003/250.18 mi-2
£1,80002/250.18 mi-2
£75004/250.19 mi-2
£1,80004/250.19 mi-2
£1,85005/240.23 mi-2
£1,85012/240.23 mi-2
£1,95003/250.24 mi-2
£1,80004/240.27 mi-2
£1,80004/250.27 mi-2
£1,75004/240.28 mi-2
£2,20002/250.29 mi-2
£2,10004/240.33 miHenley Road, Ilford2
£2,00004/240.34 mi-2
£1,77504/240.35 mi-2
£2,05004/250.35 mi-2
£1,60012/240.35 mi-2
£2,20002/240.37 mi-2
£1,90002/240.37 mi-2
£2,00001/250.37 mi-2
£2,00003/250.37 mi-2
£1,99004/250.37 mi-2
£1,98004/240.37 miPioneer Point, Ilford, IG12
£2,00604/240.37 miPioneer Point, Ilford, IG12
£2,00604/240.37 miPioneer Point, Ilford, IG12
£1,99504/240.37 miPioneer Point, Ilford, IG12
£1,99505/240.37 miPioneer Point, Ilford, IG12
£1,99505/240.37 miPioneer Point, Ilford, IG12
£1,90003/240.38 miSpringate House, Walton Road, London, E122
£1,77005/240.38 mi-2
£1,70005/240.38 miLavender Place, Ilford, IG12
£1,65005/240.38 miLavender Place, Ilford, IG12
£1,65005/240.38 mi-2
£2,00003/250.38 mi-2
£1,80004/250.38 mi-2
£1,65005/240.38 miLavender Place, Ilford, IG12
£2,10010/210.39 miRoden Street, Ilford, London, IG12
£2,05002/240.39 miRoden Street, Ilford, London, IG12
£2,05005/240.39 miRoden Street, Ilford, London, IG12
£1,50004/240.39 mi-2
£1,95012/240.39 mi-2
£1,70004/250.4 mi-2
£1,80004/240.41 mi-2

Local Area Statistics

Population in IG1

63,569

Population in Ilford

181,468

Town centre distance

1.82 miles away

Nearest school

0.20 miles away

Nearest train station

0.47 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+28%

Property History

Listed for £280,000

November 12, 2024

Floor Plans

Description

  • Two bedrooms +
  • Private garden +
  • Ground floor +
  • Guide price £280,000 - £300,000 +
  • 104 years lease approx +
  • Off street parking +
  • Double glazing +
  • Close to local amenties +

Wentworth Estates is delighted to present this two-bedroom ground floor flat on Madras Road, offering both comfort and character in a prime location. Whether you're a first-time buyer or looking to expand your property portfolio, this flat is perfect for those who want to live in a well-connected area without compromising on space.

Ideally located just a short walk from Ilford Town Centre, which offers a wide range of amenities, including shops, cafes, restaurants, and supermarkets. For commuters, the property is conveniently situated just 10 minutes’ walk from Ilford Station, providing excellent transport links into central London via the Elizabeth Line and overground services to Liverpool Street, making it ideal for professionals.

The flat retains many period features and provides a blank canvas for modernisation if desired. It is offered chain-free making it an ideal choice for those looking to enjoy the best of suburban living with easy access to London’s amenities and attractions. Don't miss out on this fantastic opportunity-book your viewing today!

Agent Details

Wentworth Estates, London

020 3889 9106

Next Steps?

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