2 Bed Flat, Motivated Seller, London, E3 2JJ, £515,000

417 Wick Lane, Tower Hamlets, London The Metropolis[8], E3 2JJ - 5 views - 4 months ago

Leasehold
Motivated
BTL
~100 m²
+6 photos

ValuationUndervalued

Sold Prices£275K - £1.2M
Sold Prices/m²£4.7K/m² - £11.9K/m²

 

 

Square Metres

~99.80 m²
Price/m²£5.2K/m²

Value Estimate

£628,300
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£128,750

Stamp Duty & Legal Fees

£29,900

Total Cash In

£158,650

 

 

Cash Out

 

Rent Range

£1,750 - £4,000

Rent Estimate

£1,900

Running Costs/mo

£2,009

Cashflow/mo

£-109

Cashflow/yr

£-1,312

Gross Yield

4%

Local Sold Prices

51 sold prices from £275K to £1.2M, average is £400K. £4.7K/m² to £11.9K/m², average is £6.8K/m².

PriceDateDistanceAddressBeds 
£360K02/230.28 miFlat 65, Winford House, Jodrell Road, London, Greater London E3 2LF2
£500K06/210.28 mi7, Eden Way, London, Greater London E3 2JD2
£555K09/210.28 mi8, Eden Way, London, Greater London E3 2JD2
£390K04/230.33 mi73, Hewison Street, London, Greater London E3 2HZ2
£320K04/230.39 mi34, Brymay Close, London, Greater London E3 2SY2
£365K02/210.5 miFlat 6, Barford House, Tredegar Road, London, Greater London E3 5HP2
£355K02/210.54 miFlat 17, Astra House, Alfred Street, London, Greater London E3 2BA2
£367K06/210.55 mi8, Otter Close, London, Greater London E15 2PZ2
£370K04/210.55 mi43, Otter Close, London, Greater London E15 2PZ2
£275K08/210.55 mi2, Otter Close, London, Greater London E15 2PZ2
£415K08/230.55 miFlat 13, Brine House, St Stephens Road, London, Greater London E3 5PG2
£372.5K06/230.57 mi79, Otter Close, London, Greater London E15 2PT2
£460K12/220.58 mi96, Hitchin Square, London, Greater London E3 5QF2
£393K06/210.59 mi144, Bow Road, London, Greater London E3 3AH2
£353K02/210.59 mi100, Otter Close, London, Greater London E15 2PX2
£412.7K12/220.6 mi82a, Bow Road, London, Greater London E3 4DL2
£572K06/210.6 mi23, Tredegar Road, London, Greater London E3 2EH2
£572K06/210.6 mi23, Tredegar Road, London, Greater London E3 2EH2
£323.7K12/200.6 miFlat 56, Corbin House, Bromley High Street, London, Greater London E3 3BQ2
£455K06/230.61 miFlat 22, Marina Court, Alfred Street, London, Greater London E3 2BH2
£550K04/210.61 mi20, Printers Mews, London, Greater London E3 5NZ2
£600K07/230.61 mi15, Printers Mews, London, Greater London E3 5NZ2
£379.5K10/200.63 mi73, Leabank Square, London, Greater London E9 5LR2
£400K06/210.63 mi68, Leabank Square, London, Greater London E9 5LR2
£300K11/200.65 miFlat 6, Dorrington Point, Bromley High Street, London, Greater London E3 3EL2
£500K05/230.65 mi128, Antill Road, London, Greater London E3 5BN2
£350K02/210.65 mi78, Berkshire Road, London, Greater London E9 5LU2
£330K10/200.67 mi20, Bisson Road, London, Greater London E15 2RD2
£430K12/210.67 mi7b, Tomlins Grove, London, Greater London E3 4NX2
£301.5K03/230.67 miFlat 32, Wellington Buildings, Wellington Way, London, Greater London E3 4NA2
£425K04/210.67 mi36, Leabank Square, London, Greater London E9 5LP2
£390K10/210.67 mi34, Leabank Square, London, Greater London E9 5LP2
£1.2M08/210.69 mi40, Medway Road, London, Greater London E3 5BY2
£420K02/230.71 mi419a, Roman Road, London, Greater London E3 5QS2
£417K04/230.72 mi1, Regal Place, London, Greater London E3 2BG2
£545K11/200.74 mi16a, Zealand Road, London, Greater London E3 5RB2
£812K03/210.78 mi342, Old Ford Road, London, Greater London E3 5TA2
£385K10/200.78 mi100, Buxhall Crescent, London, Greater London E9 5JZ2
£415K03/210.78 mi90, Buxhall Crescent, London, Greater London E9 5JZ2
£380K06/230.79 mi465, Mile End Road, London, Greater London E3 4PA2
£368.1K02/210.8 mi31b - 31c, Brookfield Road, Hackney, London, Greater London E9 5AH2
£592K05/230.8 mi31a, Brookfield Road, Hackney, London, Greater London E9 5AH2
£368K08/230.83 mi14, Shalbourne Square, London, Greater London E9 5JN2
£332K06/210.84 miFlat 22, Denbury House, Talwin Street, London, Greater London E3 3JB2
£660K10/200.87 mi39b, Wetherell Road, London, Greater London E9 7DB2
£765.5K01/210.87 mi42a, Wetherell Road, London, Greater London E9 7DB2
£705K12/220.87 mi43a, Wetherell Road, London, Greater London E9 7DB2
£520K11/200.9 miFlat 127, Gascoyne House, Gascoyne Road, London, Greater London E9 7BN2
£465K06/210.9 miFlat 101, Gascoyne House, Gascoyne Road, London, Greater London E9 7BL2
£280K06/230.9 miFlat 58, Vaine House, Cassland Road, London, Greater London E9 5BT2
£343K03/210.94 mi159, Fairfoot Road, London, Greater London E3 4EJ2

Local Rents

50 rents from £1.8K/mo to £4K/mo, average is £2.3K/mo.

RentDateDistanceAddressBeds 
£2,20005/240 mi-2
£2,20003/250 mi-2
£2,00002/240 mi-2
£2,20004/240 miWick Lane, London, E32
£2,20005/240 miWick Lane, London, E32
£2,19903/240.01 miWick Lane, London, E3 2
£2,70004/240.01 mi-2
£2,34903/240.03 miWick Lane, Hackney Wick2
£2,30005/240.03 miInk Court, Hackney Wick2
£2,80003/240.07 mi-2
£2,30003/240.07 mi-2
£2,70004/240.07 miHart Yard, Hackney Wick2
£2,50003/240.09 mi-2
£2,50004/240.09 miIron Works, 58 Dace Road2
£2,29705/240.1 miDace Road, Hackney Wick2
£2,49604/240.12 miDace Road, Hackney Wick2
£2,10002/250.18 mi-2
£2,90003/240.19 miWendon Street, Tower Hamlets, London, E32
£2,50003/240.19 mi-2
£2,36203/240.2 miFabian Bell Tower, Bow E32
£2,30105/240.2 miPancras Way, E32
£2,30002/240.21 mi-2
£1,80005/240.21 miEdward Heylyn House, London, E32
£1,75005/240.21 mi-2
£2,40004/240.21 miAltius Apartments, 714 Wick Lane, London, E3 2PZ2
£2,30012/240.22 mi-2
£2,00004/240.23 miJohn Bell Tower, Heart Of Bow, E32
£4,00004/240.24 mi-2
£1,90005/240.24 mi-2
£1,90005/240.24 miWick Lane, Bow, London, E32
£2,40004/240.24 miIceni Court, Bow, E32
£2,20103/240.24 miDouro Street, E32
£2,20003/240.25 miMenai Place, Bow, London, E32
£2,40004/240.25 miLefevre Walk, Bow, London, E32
£2,20003/240.26 miMenai Place, Bow, E32
£2,10005/240.26 miMenai Place, Blondin Street, Bow, E32
£2,23205/240.26 mi-2
£2,00004/240.26 miJodrell Road, London2
£2,25003/240.27 miPark East Building, The Bow Quarter2
£2,20104/240.27 miBow Quarter, E32
£2,05003/240.27 miMenai Place, Blondin Street, London, E32
£2,44804/240.27 mi-2
£2,75003/240.28 miLegacy House, Roach Road, London2
£2,25003/250.28 mi-2
£2,54803/240.28 miManhattan Building, London2
£3,50002/240.28 mi-2
£3,50002/240.28 mi-2
£3,80004/240.28 mi-2
£3,50004/240.28 mi-2
£3,99904/240.28 mi-2

Local Area Statistics

Population in E3

51,618

Population in London

4,771,921

Town centre distance

3.64 miles away

Nearest school

0.20 miles away

Nearest train station

0.39 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+13%

Sales demand

Buyer's market

Capital growth (5yrs)

+1%

Property History

Listed for £515,000

November 22, 2024

Floor Plans

Description

  • Council Tax Band D Leasehold 125 years from 25 March 2005 +
  • Ground Rent £250 p/a Service Charge £4000 p/a +
  • EWS1 Form Available A1 Rating +
  • Balcony Accessed from the Reception Room +
  • Large Open Plan Kitchen/Dining/Reception Room +
  • Two Bedrooms +
  • Family Bathroom +
  • Lifts to all Floors +
  • Convenient Location +
  • Viewing Advised +

*The property is currently undergoing repairs being paid for by the current owner, scheduled to be finished in January*

This spacious two bedroom apartment is not one to be missed out on. Situated within a prime area in Bow, London, offering easy reach to a wide range of amenities, transport and road links. Located on the second floor you will find a spacious lounge, and two double bedrooms. Call now to book!

This two bedroom apartment is located in Bow, London with close proximity to a range of amenities, schools, shopping facilities, food/drink establishments and more. The area also offers excellent road and transport links for travel both locally and further afield.

The accommodation briefly comprises a welcoming entrance way, a spacious living room, a fitted kitchen, two double bedrooms and a three-piece bathroom with tub-shower combination a hand wash basin and a WC.

Externally, you can benefit from parking for around £100 PCM.

This home is an excellent find. We anticipate a high amount of interest and as such we would recommend that any interested buyers inquire to arrange a viewing at the earliest convenience to ensure the opportunity is not missed.

Premium Fast Sale

The innovative Premium Fast Sale Plus method from Springbok Properties is a secure and straightforward way to buy property. It works like a typical sale, with a number of added benefits to the buyer.

Benefits

o Carefully implemented security measures
o A speedy process
o Realistically priced properties
o A Buy it Now option (ask for further information on this feature from our advisors)
o A significantly reduced chance of fall-throughs
o No risk of being "gazumped"
o The full focus of our highly motivated team

Springbok Properties' Premium Fast Sale Plus puts you in the driving seat thanks to our fast and secure methods.

All properties are competitively priced and carefully managed by motivated sellers for a quick, stress-free transaction.

Deposit

Sales can be secured with a reservation deposit of £5,000. This forms part of the final purchase price and is NOT an extra cost.

This deposit ensures that the property is taken off the market as soon as a sale is agreed. It is then exclusively reserved for you, eliminating gazumping, time wasting and financial loss.

An administration fee of £396 is required in order to draw up an exclusive legally binding contract between the buyer and seller. This gives the buyer exclusive rights to purchase within a pre-agreed timeframe.

Exclusivity

Following the payment of the above amount, Springbok Properties will facilitate a fixed exclusivity period (approximately 12 weeks). During this time, surveys should be arranged and preparations made for the exchange of contracts. The property will be reserved, so there will be no risk of gazumping.

Process

Our Premium Fast Sale Plus follows the below process:

STEP 1 - Register your interest
STEP 2 - Prepare your finances for the purchase
STEP 3 - Arrange a viewing
STEP 4 - Make an offer
STEP 5 - Secure your sale using our secure system
STEP 6 - Exchange and complete

Don't miss out on the chance to purchase this property. Call us today for further information and to arrange a viewing.

If you're interested in this property, we urge you to contact us immediately to arrange an early viewing and get the process started. This will help you to avoid missing out on this opportunity.

Springbok Properties' innovative Premium Fast Sale Plus is a secure and straightforward way to buy property.

Please note: to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Please call us now to book an appointment.

We highly recommend early viewing as this property is priced relatively low and is likely to generate quite an interest.

Please call us now to book an appointment.

Call Recording

Please note to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Disclaimer

Springbok Properties for itself and the Vendors or lessors of properties for whom they act give notice that:

The details shown on this website are a general outline for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract or sales particulars. All descriptions, dimensions, references to condition and other details are given in good faith and are believed to be correct but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection, searches, survey, enquiries or otherwise as to their correctness. We have not been able to test any of the building service installations and recommend that prospective purchasers arrange for a qualified person to check them before entering into any commitment. Further, any reference to, or use of any part of the properties is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

TENURE

To be confirmed by the Vendor's Solicitors

Note

The price given is a marketing price and not an indication of the property's market value. The vendor like any seller is looking to achieve the maximum price possible. Hence, by making an enquiry on this property, you recognise and understand that this property is strictly offers in excess of the marketing price provided.

How to View this Property

Viewing is strictly by appointment please call us now for bookings.

AML REGULATIONS & PROOF OF FUNDING: Any proposed purchasers will be asked to provide identification and proof of funding before any offer is accepted. We would appreciate your co-operation with this to ensure there are no delays in agreeing the sale.

Agent Details

Springbok Properties, Nationwide

0161 416 6302

Next Steps?

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