3 Bed Terraced House, Refurb/BRRR, Ilford, IG1 2QG, £500,000

Fairway Gardens, Ilford, IG1 2QG - 5 months ago

Sold STC
Refurb/BRRR
~125 m²
+12 photos

ValuationFair Value

Sold Prices£207K - £580K
Sold Prices/m²£2.9K/m² - £7.4K/m²

 

 

Square Metres

~124.80 m²
Price/m²£4K/m²

Value Estimate

£500,000

 

 

End Value (After Refurb)

£588,138

Uplift in Value

+18%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£125,000

Stamp Duty & Legal Fees

£38,700

Refurb Costs

£66,023

Bridging Loan Interest

£13,125

Total Cash In

£244,598

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£588,138

Mortgage (After Refinance)

£441,103

Mortgage LTV

75%

Cash Released

£66,103

Cash Left In

£178,495

Equity

£147,034

Rent Range

£2,000 - £3,100

Rent Estimate

£2,334

Running Costs/mo

£2,325

Cashflow/mo

£9

Cashflow/yr

£111

ROI

0%

Gross Yield

6%

Local Sold Prices

50 sold prices from £207K to £580K, average is £420K. £2.9K/m² to £7.4K/m², average is £4.9K/m².

PriceDateDistanceAddressBeds 
£260K03/210 mi17, Fairway Gardens, Ilford, Greater London IG1 2QG3
£560K07/230.05 mi30, Elstree Gardens, Ilford, Greater London IG1 2QQ3
£500K01/210.06 mi42, Vine Gardens, Ilford, Greater London IG1 2QJ3
£580K12/220.13 mi2, Tylehurst Gardens, Ilford, Greater London IG1 2QL3
£400K05/230.15 mi458, Ilford Lane, Ilford, Greater London IG1 2NF3
£382K11/200.18 mi31, Eton Road, Ilford, Greater London IG1 2UD3
£391K11/200.18 mi69, Eton Road, Ilford, Greater London IG1 2UD3
£367.5K12/200.18 mi12, Eton Road, Ilford, Greater London IG1 2UE3
£350K07/230.19 mi68, Hunter Road, Ilford, Greater London IG1 2NW3
£420K03/230.2 mi6, Norman Road, Ilford, Greater London IG1 2NG3
£430K02/210.2 mi23, Mortlake Road, Ilford, Greater London IG1 2SX3
£360K04/210.25 mi47, Roman Road, Ilford, Greater London IG1 2NZ3
£445K11/200.27 mi34, Fairfield Road, Ilford, Greater London IG1 2JL3
£480K08/230.27 mi28, Fairfield Road, Ilford, Greater London IG1 2JL3
£495K07/230.29 mi31, Staines Road, Ilford, Greater London IG1 2XA3
£207K04/230.29 mi69, Staines Road, Ilford, Greater London IG1 2XA3
£478K01/230.31 mi128, Staines Road, Ilford, Greater London IG1 2UY3
£420K11/200.31 mi69, Faircross Avenue, Barking, Greater London IG11 8QZ3
£410K03/210.31 mi39, Jasmine Close, Ilford, Greater London IG1 2BS3
£400K11/210.33 mi99, Fanshawe Avenue, Barking, Greater London IG11 8RF3
£325K01/210.35 mi49, Eton Road, Ilford, Greater London IG1 2UD3
£435K11/210.36 mi149, Hampton Road, Ilford, Greater London IG1 1PR3
£375K06/210.36 mi22, Azalea Close, Ilford, Greater London IG1 2BF3
£375K08/210.36 mi2, Bluebell Way, Ilford, Greater London IG1 2JH3
£371.5K05/210.39 mi33, Harpour Road, Barking, Greater London IG11 8RJ3
£440K02/210.39 mi55, Park Avenue, Barking, Greater London IG11 8QU3
£470K01/230.4 mi168, Henley Road, Ilford, Greater London IG1 2TR3
£425K03/210.41 mi41, Faircross Avenue, Barking, Greater London IG11 8RD3
£410K02/210.43 mi197, Kingston Road, Ilford, Greater London IG1 1PF3
£456K01/210.43 mi186, Kingston Road, Ilford, Greater London IG1 1PF3
£350K09/210.45 mi104, Grange Road, Ilford, Greater London IG1 1EX3
£370K04/210.46 mi212, Gurney Close, Barking, Greater London IG11 8LB3
£425K11/200.46 mi142, Eton Road, Ilford, Greater London IG1 2UJ3
£405K03/230.47 mi57, Sandyhill Road, Ilford, Greater London IG1 2ET3
£245.6K06/210.47 mi60, Sandyhill Road, Ilford, Greater London IG1 2ET3
£425K06/230.47 mi43, Sandyhill Road, Ilford, Greater London IG1 2ET3
£365K12/200.47 mi203, Gurney Close, Barking, Greater London IG11 8JZ3
£433K04/210.48 mi118, Richmond Road, Ilford, Greater London IG1 1JX3
£300K05/230.49 mi14, Cape Close, Barking, Greater London IG11 8NE3
£405K06/230.5 mi15, Thornton Road, Ilford, Greater London IG1 2ER3
£407K01/210.5 mi159, Windsor Road, Ilford, Greater London IG1 1HE3
£432K06/210.5 mi230, Henley Road, Ilford, Greater London IG1 2TW3
£460K11/210.51 mi275, Henley Road, Ilford, Greater London IG1 2TN3
£430K10/220.53 mi17, Cranleigh Gardens, Barking, Greater London IG11 9TJ3
£450K03/210.54 mi29, Cecil Road, Ilford, Greater London IG1 2EW3
£420K11/200.54 mi11, Eltisley Road, Ilford, Greater London IG1 2EP3
£420K11/200.54 mi11, Eltisley Road, Ilford, Greater London IG1 2EP3
£485K02/210.56 mi22, Aldersey Gardens, Barking, Greater London IG11 9UQ3
£408K02/210.57 mi9, Dore Avenue, London, Greater London E12 6JT3
£517.5K04/210.59 mi51, Bedford Road, Ilford, Greater London IG1 1EL3

Local Rents

36 rents from £2K/mo to £3.1K/mo, average is £2.3K/mo.

RentDateDistanceAddressBeds 
£2,30001/250.13 mi-3
£3,00003/250.16 mi-3
£2,40003/250.22 mi-3
£2,20005/240.27 miPark Avenue, Barking3
£2,30004/240.33 miBluebell Way, Ilford3
£2,40012/240.34 mi-3
£2,00004/240.35 mi-3
£2,20004/240.36 miBluebell Way, Ilford, Essex, IG13
£2,40004/250.39 mi-3
£2,60002/250.41 mi-3
£2,65003/250.41 mi-3
£2,50004/250.41 mi-3
£3,10004/240.45 mi-3
£2,50001/250.47 mi-3
£2,35004/240.47 miThornton Road, IG13
£2,70004/250.48 mi-3
£2,00004/240.49 mi-3
£2,20012/240.49 mi-3
£2,20001/250.5 mi-3
£2,40012/240.53 mi-3
£2,10002/250.53 mi-3
£2,20006/240.54 mi-3
£2,35006/240.54 mi-3
£2,20006/240.54 mi-3
£2,50012/240.55 mi-3
£2,20005/240.56 miSomerby Road, Barking3
£2,40004/240.59 mi-3
£2,20002/250.59 mi-3
£2,20003/250.59 mi-3
£2,20004/250.59 mi-3
£2,20003/240.59 miBedford Road, IG13
£2,39504/240.61 miHurstbourne Gardens,Barking,IG113
£2,30004/240.61 miMeath Road3
£2,20003/250.61 mi-3
£2,20003/250.61 mi-3
£2,20004/250.61 mi-3

Local Area Statistics

Population in IG1

63,569

Population in Ilford

181,468

Town centre distance

2.09 miles away

Nearest school

0.20 miles away

Nearest train station

0.58 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+28%

Property History

Listed for £500,000

November 19, 2024

Floor Plans

Description

Available to view now is this 3-bedroom end of terrace house with garage, in close proximity to Ilford Lane which is also being offered completely chain free.

The ground floor of property benefits from having 2 reception rooms one with bay window, a galley kitchen, conservatory, a full-length garage with rear access and a spacious garden.

The first floor offers 2 generously sized double bedrooms, the master having a feature bay window, with a supplementary single bedroom and a 3-piece family bathroom.

There is a lot of scope to extend and develop the property (STPP) so this would make a great project to realise its full potential.

The property has been priced to sell as there is some modernisation required.

Please call today to arrange a viewing.

Agent Details

Bairstow Eves, Barking

020 3835 3579

Next Steps?

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