2 Bed Flat, Refurb/BRRR, London, E18 1RE, £275,000

Gordon Road, London, E18 1RE - 2 views - 5 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 4%
~56 m²
+2 photos

ValuationFair Value

Sold Prices£200K - £495K
Sold Prices/m²£4.3K/m² - £8.6K/m²

 

 

Square Metres

~56.39 m²
Price/m²£4.9K/m²

Value Estimate

£275,000

 

 

End Value (After Refurb)

£330,883

Uplift in Value

+20%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£68,750

Stamp Duty & Legal Fees

£16,200

Refurb Costs

£29,791

Bridging Loan Interest

£7,219

Total Cash In

£123,710

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£330,883

Mortgage (After Refinance)

£248,163

Mortgage LTV

75%

Cash Released

£41,913

Cash Left In

£81,797

Equity

£82,721

Rent Range

£1,500 - £2,750

Rent Estimate

£1,878

Running Costs/mo

£1,430

Cashflow/mo

£448

Cashflow/yr

£5,381

ROI

4%

Gross Yield

8%

Local Sold Prices

50 sold prices from £200K to £495K, average is £367.5K. £4.3K/m² to £8.6K/m², average is £5.7K/m².

PriceDateDistanceAddressBeds 
£410K02/210.03 miGround Floor Flat, 57, Gordon Road, South Woodford, London, Greater London E18 1DT2
£289K06/210.07 mi9, Roycroft Close, London, Greater London E18 1DZ2
£352K09/210.13 mi33, Avondale Court, London, Greater London E18 2RD2
£352.5K11/200.13 mi2, Avondale Court, London, Greater London E18 2RD2
£305K03/210.13 mi26, Avondale Court, London, Greater London E18 2RD2
£327.4K05/210.13 mi15, Avondale Court, London, Greater London E18 2RD2
£325K05/210.14 mi39, Avondale Court, London, Greater London E18 2RD2
£285.1K11/200.21 mi12, Lynwood Close, London, Greater London E18 1DP2
£430K11/220.22 mi37, Crescent Road, London, Greater London E18 1JA2
£380K04/210.24 miFlat 1, Mitre Court, Churchfields, London, Greater London E18 2TJ2
£450K08/210.31 mi60a, Mulberry Way, London, Greater London E18 1ED2
£215K02/230.32 miFlat 90, Blenheim Court, Navestock Crescent, Woodford Green, Greater London IG8 7BB2
£420K06/210.32 miFlat 5, Hanover House, Eastwood Road, London, Greater London E18 1BN2
£200K12/220.34 miFlat 182, Lambourne Court, Navestock Crescent, Woodford Green, Greater London IG8 7BD2
£340K11/220.38 mi241, Chigwell Road, Woodford Green, Greater London IG8 8PP2
£210K03/230.38 miFlat 266, Sunset Court, Navestock Crescent, Woodford Green, Greater London IG8 7BE2
£330K12/210.39 mi98, St Barnabas Road, Woodford Green, Greater London IG8 7DE2
£375K11/200.39 mi108, St Barnabas Road, Woodford Green, Greater London IG8 7DE2
£450K01/210.41 mi59a, Cowslip Road, London, Greater London E18 1JN2
£395K03/210.44 mi7a, Daisy Road, London, Greater London E18 1EA2
£405K11/220.46 mi31, Fyfield Road, Woodford Green, Greater London IG8 7JU2
£390K12/220.46 mi30, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£341K11/210.46 mi32, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£370K11/210.46 mi64, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£345K10/220.47 mi38, St Anthonys Avenue, Woodford Green, Greater London IG8 7EW2
£415K06/210.47 mi24, Alveston Square, London, Greater London E18 1AQ2
£300K05/210.48 mi333, Chigwell Road, Woodford Green, Greater London IG8 8PL2
£350K03/210.49 mi25, St Anthonys Avenue, Woodford Green, Greater London IG8 7EP2
£305K06/210.49 mi53, St Anthonys Avenue, Woodford Green, Greater London IG8 7EP2
£455K03/210.5 mi20a, Victoria Road, London, Greater London E18 1LG2
£280K11/210.51 mi42, Chalford Walk, Woodford Green, Greater London IG8 8PH2
£375K08/210.52 mi13, Lechmere Avenue, Woodford Green, Greater London IG8 8QF2
£365K08/210.52 mi17, Lechmere Avenue, Woodford Green, Greater London IG8 8QF2
£437.5K09/210.54 mi50, George Lane, London, Greater London E18 1LW2
£370K10/200.54 miFlat 12, Woburn Court, Bedford Road, London, Greater London E18 2RS2
£335.5K07/230.54 miFlat 3, Deborah Court, Victoria Road, London, Greater London E18 1LF2
£345K02/210.54 mi54, Lechmere Avenue, Woodford Green, Greater London IG8 8QQ2
£370K10/200.55 mi90, Finchingfield Avenue, Woodford Green, Greater London IG8 7JR2
£390K05/230.55 mi92, Lechmere Avenue, Woodford Green, Greater London IG8 8QG2
£300K03/230.55 miFlat 8, Swift House, Chigwell Road, London, Greater London E18 1TP2
£300K11/210.56 miFlat 29, Old Mill Court, Chigwell Road, London, Greater London E18 1NJ2
£410K11/220.56 mi78a, Marlborough Road, London, Greater London E18 1AP2
£375K08/210.57 mi5, Roxwell Way, Woodford Green, Greater London IG8 7JY2
£495K01/210.57 miGround Floor Flat, 28, Chelmsford Road, South Woodford, London, Greater London E18 2PL2
£394K10/200.57 miFlat 3, Dorchester Court, Buckingham Road, London, Greater London E18 2NG2
£325K05/210.57 mi30, Tamar Square, Woodford Green, Greater London IG8 0EA2
£330K12/200.57 mi27, Tamar Square, Woodford Green, Greater London IG8 0EA2
£408K12/220.58 mi35, Finchingfield Avenue, Woodford Green, Greater London IG8 7JZ2
£377.5K06/210.58 mi33, Finchingfield Avenue, Woodford Green, Greater London IG8 7JZ2
£415K02/230.6 miFlat 3, Millbrook, Woodford Road, London, Greater London E18 2EB2

Local Rents

50 rents from £1.5K/mo to £2.8K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£1,75004/240.07 miGordon Road, South Woodford, E182
£1,60003/240.13 miChurchfields, London, E182
£1,70004/240.13 miAvondale Court, South Woodford, E182
£1,50005/240.13 miFirst Floor Flat, Avondale Court2
£1,80005/240.14 mi-2
£1,75001/250.14 mi-2
£1,80005/240.14 miGordon Road, London, E182
£1,75003/240.15 miDiana Close, South Woodford2
£1,75004/240.16 miDiana Close, South Woodford, E182
£1,55004/240.16 miDiana Close, South Woodford2
£1,75003/240.17 miGordon Road, London2
£1,85004/240.17 miLynwood Close, South Woodford2
£1,85005/240.17 miLynwood Close, South Woodford2
£1,75003/240.18 miDiana Close, South Woodford2
£1,85003/240.19 miKingswood Heights, Queen Marys Gate, South Woodford, E182
£2,35012/240.21 mi-2
£1,79012/240.21 mi-2
£1,75002/250.21 mi-2
£1,70005/240.21 miThe Firs, St. Barnabas Road, Woodford Green, Essex, IG82
£2,00012/240.23 mi-2
£1,99503/240.24 miQueen Mary Avenue, London, E182
£1,99503/240.24 miQueen Mary Avenue, London2
£1,85005/240.26 miQueen Mary Avenue, London, E182
£1,85004/240.26 mi-2
£1,85003/240.26 miQueen Mary Avenue, London, E182
£1,85002/250.27 mi-2
£1,95003/250.27 mi-2
£1,95002/250.28 mi-2
£1,80005/240.29 miQueen Mary Avenue, E182
£2,20003/240.29 miQueen Mary Avenue, London, E182
£2,15004/240.29 miQueen Mary Avenue, London, E182
£2,15005/240.29 miQueen Mary Avenue, London, E182
£2,75003/240.29 mi-2
£2,15005/240.29 mi-2
£1,90005/240.3 mi-2
£1,90004/240.3 miQueen Mary Avenue, London, E182
£1,90004/240.31 miQueen Mary Gate, South Woodford E182
£1,85005/240.31 miPemberton Court, South Woodford, E182
£1,75004/240.32 miEastwood Road, London, E182
£1,75005/240.32 miQueen Mary Avenue, London, E182
£2,00003/240.32 miQueen Mary Avenue, E182
£1,65012/240.33 mi-2
£1,90004/240.33 mi-2
£1,80003/240.33 miGlebe House, South Woodford, E182
£1,85002/250.34 mi-2
£2,00002/250.34 mi-2
£2,10004/250.35 mi-2
£1,80002/250.36 mi-2
£1,92503/240.37 miMulberry Way, South Woodford, London, E182
£1,80003/240.37 miMulberry Way, South Woodford, E182

Local Area Statistics

Population in E18

19,022

Population in London

4,771,921

Town centre distance

7.63 miles away

Nearest school

0.20 miles away

Nearest train station

0.48 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-1%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Listed for £275,000

November 26, 2024

Floor Plans

Description

  • Guide Price - £275,000 +
  • No Onward Chain +
  • Two Bedrooms +
  • Private Gated Development +
  • Communal Car Park +
  • Communal Gardens +
  • Entry Phone Security +
  • Extended Lease +
  • Located Within Popular Location Close To Elmhurst Park +
  • Redbridge Council Tax Bracket - C +

Churchill estates are pleased to present this chain free modernisation opportunity. This two bedroom ground floor apartment requires complete refurbishment in order to fulfil its true potential but benefits from a newly extended lease and is located within this popular gated development in Gordon road directly opposite Elmhurst Park.

Accommodation - Entrance Hall, Spacious Lounge, Two bedrooms and a family bathroom.
Exterior - Communal Gardens and car park.

Location - Directly opposite Elmhurst Gardens (park), ideal for strolls and also home to tennis courts and a playground. Approximately 10 minutes walk from South Woodford underground station, George lane shopping area and various amenities including pubs and restaurants.

Agent Details

Churchill Estates, South Woodford

020 3870 2096

Next Steps?

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