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2 Bed Flat, Refurb/BRRR, Ilford, IG1 4JZ, £350,000

211 Wellesley Road, Ilford, IG1 4JZ - 3 views - 5 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 3%
~68 m²
+2 photos

ValuationOvervalued

Sold Prices£129K - £554.8K
Sold Prices/m²£2.3K/m² - £7.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£5.1K/m²

Value Estimate

£334,858

 

 

End Value (After Refurb)

£330,434

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£16,700

Refurb Costs

£36,033

Bridging Loan Interest

£9,188

Total Cash In

£151,170

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£330,434

Mortgage (After Refinance)

£247,825

Mortgage LTV

75%

Cash Left In

£151,170

Equity

£82,608

Rent Range

£1,650 - £2,300

Rent Estimate

£1,838

Running Costs/mo

£1,420

Cashflow/mo

£418

Cashflow/yr

£5,014

ROI

3%

Gross Yield

6%

Local Sold Prices

41 sold prices from £129K to £554.8K, average is £290K. £2.3K/m² to £7.6K/m², average is £5.2K/m².

PriceDateDistanceAddressBeds 
£296K08/210 mi78a, Wellesley Road, Ilford, Greater London IG1 4JZ2
£360K06/210.03 mi73, Balfour Road, Ilford, Greater London IG1 4HR2
£350K06/230.03 mi61a, Balfour Road, Ilford, Greater London IG1 4HR2
£305K12/200.06 mi16a, Bathurst Road, Ilford, Greater London IG1 4LA2
£140K10/200.18 miFlat 32, Heron Court, Morland Road, Ilford, Greater London IG1 4EW2
£400K09/220.2 mi115a, Thorold Road, Ilford, Greater London IG1 4EZ2
£325K04/210.21 mi16b, Valentines Road, Ilford, Greater London IG1 4SA2
£160K02/210.26 mi12, Centreway, Ilford, Greater London IG1 1ND2
£554.8K06/210.27 mi81, Wellesley Road, Ilford, Greater London IG1 4LJ2
£138K07/210.39 mi33d, Grosvenor Road, Ilford, Greater London IG1 1LD2
£515K05/210.41 mi115, Northbrook Road, Ilford, Greater London IG1 3BL2
£360K03/210.41 mi40c, York Road, Ilford, Greater London IG1 3AF2
£290K12/220.55 mi25, Meath Road, Ilford, Greater London IG1 1JA2
£295K12/200.58 mi45b, Endsleigh Gardens, Ilford, Greater London IG1 3EQ2
£290K11/220.58 mi21, Connaught Road, Ilford, Greater London IG1 1RL2
£322K03/230.6 miFlat 38, De Havilland Square, Piper Way, Ilford, Greater London IG1 4DE2
£280K01/210.62 mi78a, Devere Gardens, Ilford, Greater London IG1 3EE2
£240K02/210.63 mi104, Riverdene Road, Ilford, Greater London IG1 2EB2
£295K06/210.65 mi24a, Cowley Road, Ilford, Greater London IG1 3JL2
£283K07/210.65 mi61, Piper Way, Ilford, Greater London IG1 4FE2
£129K04/230.68 mi1027, Romford Road, Manor Park, London, Greater London E12 5LH2
£215K02/210.69 mi4, Friars Close, Ilford, Greater London IG1 4AZ2
£305K10/220.69 mi19, Friars Close, Ilford, Greater London IG1 4AZ2
£277K12/220.69 mi50, Friars Close, Ilford, Greater London IG1 4AZ2
£280K06/230.69 mi61, Friars Close, Ilford, Greater London IG1 4AZ2
£310K10/220.7 mi6, Lowbrook Road, Ilford, Greater London IG1 2HD2
£282.5K07/210.74 mi58a, Vicarage Lane, Ilford, Greater London IG1 4AN2
£247K05/210.76 mi26, Lowbrook Road, Ilford, Greater London IG1 2HB2
£250K12/200.76 mi63, Lynn Road, Ilford, Greater London IG2 7DU2
£245K11/220.77 miFlat 46, Charlbury House, Grantham Road, Manor Park, London, Greater London E12 5NR2
£230K04/230.78 mi46, Dellow Close, Ilford, Greater London IG2 7EB2
£275K05/230.81 mi75, Dellow Close, Ilford, Greater London IG2 7ED2
£375K09/220.86 mi6, Bramley Crescent, Ilford, Greater London IG2 6DA2
£295K08/220.91 mi86b, Sheringham Avenue, London, Greater London E12 5PE2
£290K05/220.91 mi65, Stainforth Road, Ilford, Greater London IG2 7EL2
£218.2K12/220.92 mi139, Aldborough Road South, Ilford, Greater London IG3 8HT2
£207.5K06/210.94 mi56, Pretoria Road, Ilford, Greater London IG1 2HW2
£305K02/210.97 mi161, Aldborough Road South, Ilford, Greater London IG3 8HU2
£305K03/230.98 mi8, Royal Crescent, Newbury Park, Ilford, Greater London IG2 7NH2
£305K04/230.98 mi2, Royal Crescent, Newbury Park, Ilford, Greater London IG2 7NH2
£265K01/230.99 mi4 Vicarage Court, Baxter Road, Ilford, Greater London IG1 2HN2

Local Rents

50 rents from £1.6K/mo to £2.3K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£2,30002/250.03 mi-2
£2,15012/240.11 mi-2
£2,00002/250.12 mi-2
£2,00002/250.12 mi-2
£2,00002/250.12 mi-2
£2,00003/250.12 mi-2
£2,00003/250.12 mi-2
£1,75003/250.15 mi-2
£1,75003/250.15 mi-2
£1,70004/250.17 mi-2
£2,00004/250.18 mi-2
£1,99501/250.22 mi-2
£1,70003/250.23 mi-2
£1,75003/250.23 mi-2
£1,80003/250.23 mi-2
£1,70002/240.23 mi-2
£1,92504/240.23 mi-2
£1,65005/240.23 mi-2
£1,85003/250.23 mi-2
£1,65005/240.23 miSpectrum Tower, 2-20 Hainault Street, Ilford, Essex, IG12
£1,95004/250.23 mi-2
£1,80002/240.24 miSpectrum Tower, 2-20 Hainault Street, Ilford, IG12
£2,20012/240.24 mi-2
£2,30004/240.24 miCityview Centreway Apartments, Ilford, IG12
£1,80003/250.24 mi-2
£1,70004/240.24 miCity View, Centreway Apartments, IG12
£1,72501/250.24 mi-2
£2,00012/240.24 mi-2
£1,72512/240.24 mi-2
£1,80003/250.24 mi-2
£1,90004/250.24 mi-2
£1,95003/250.24 mi-2
£1,90004/250.24 mi-2
£1,85004/250.24 mi-2
£1,90004/250.25 mi-2
£1,87503/250.25 mi-2
£1,82502/250.25 mi-2
£1,90002/250.25 mi-2
£1,76005/240.25 mi-2
£1,85004/250.25 mi-2
£2,30004/240.26 mi-2
£1,90012/240.26 mi-2
£1,90004/240.27 mi-2
£2,05004/250.27 mi-2
£1,65004/240.27 mi-2
£2,10001/250.28 mi-2
£2,10001/250.29 mi-2
£1,90004/240.3 miRaphael House, 250 High Street, Ilford, IG12
£1,80005/240.31 miRaphael House, 250 High Street, Ilford, Essex, IG12
£2,00005/240.31 miRaphael House, High Road, IG12

Links

Local Area Statistics

Population in IG1

63,569

Population in Ilford

181,468

Town centre distance

1.11 miles away

Nearest school

0.20 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+28%

Property History

Listed for £350,000

November 26, 2024

Floor Plans

Description

  • GROUND FLOOR FLAT +
  • TWO BEDROOMS +
  • REAR GARDEN +
  • LEASEHOLD +
  • COUNCIL TAX - BAND C +
  • EPC - D +

NO ONWARD CHAIN!! This charming flat in the Commonwealth Estate is now available for sale. The property is in need of modernising, offering a great opportunity for those looking to add their personal touch to a home. Situated near Valentines Park, this flat features one reception room, ideal for relaxing or entertaining guests. The flat comprises two bedrooms, providing space for a small family or for those in need of a guest room or office space. There is also a well-appointed bathroom and a kitchen ready for renovation to suit your tastes. Additional benefits of this property include a rear garden for outdoor enjoyment and convenient access to the Ilford Elizabeth Line links for commuting. The current Lease is 128 Years remaining. We have been advised a NIL service charge and £150 pa Ground Rent, property to be offered with Share of Freehold. Don't miss out on the chance to transform this property into your dream home. Contact us today to arrange a viewing and explore the potential of this flat in a desirable location.

Agent Details

Payne & Co, Ilford

020 3873 8289

Next Steps?

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

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