2 Bed Flat, Refurb/BRRR, Enfield, EN1 4UZ, £225,000

132 Melling Drive, Enfield, EN1 4UZ - 35 views - 4 months ago

Leasehold

Refurb/BRRR

ROI: 3%

~60 m²

+6 photos

ValuationFair Value

Sold Prices	£135K - £500K
Sold Prices/m²	£4.1K/m² - £8K/m²

Square Metres	~59.50 m²
Price/m²	£3.8K/m²
Value Estimate	£229,500£229,500

End Value (After Refurb)	£325,713£325,713
Uplift in Value	+45%+45%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£56,250£56,250
Stamp Duty & Legal Fees	£7,950£7,950
Refurb Costs	£31,477£31,477
Bridging Loan Interest	£5,906£5,906
Total Cash In	£103,334£103,334

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£325,713£325,713
Agent Fees (1%)	£3,257£3,257
Bridging Loan	£168,750£168,750
Bridging Loan Interest	£5,906£5,906
Flip Profit	£50,373£50,373

Local Sold Prices

50 sold prices from £135K to £500K, average is £311.3K. £4.1K/m² to £8K/m², average is £5.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£257K	03/23	0.03 mi	80, Orton Grove, Enfield, Greater London EN1 4UY	£5,006	51	2	Flat
£270K	04/21	0.04 mi	17, Orton Grove, Enfield, Greater London EN1 4UE	-	-	2	Flat
£290K	11/22	0.04 mi	24, Orton Grove, Enfield, Greater London EN1 4UE	£5,370	54	2	Flat
£217.5K	04/21	0.11 mi	216, Magpie Close, Enfield, Greater London EN1 4JG	£4,531	48	2	Flat
£275K	03/21	0.13 mi	1, Linwood Crescent, Enfield, Greater London EN1 4UP	£5,729	48	2	Flat
£272K	04/21	0.13 mi	107, Linwood Crescent, Enfield, Greater London EN1 4UP	£4,060	67	2	Flat
£300K	12/20	0.18 mi	335, Carterhatch Lane, Enfield, Greater London EN1 4AW	£4,688	64	2	Flat
£317.5K	07/21	0.22 mi	15, Bridgenhall Road, Enfield, Greater London EN1 4AZ	-	-	2	Flat
£245K	05/21	0.26 mi	36, Russell Road, Enfield, Greater London EN1 4TW	£4,298	57	2	Flat
£340K	04/21	0.29 mi	3, Myddelton Close, Enfield, Greater London EN1 4AJ	£6,071	56	2	Flat
£320K	03/21	0.31 mi	60, Myddelton Avenue, Enfield, Greater London EN1 4AG	£4,571	70	2	Flat
£322.5K	04/21	0.31 mi	78, Myddelton Avenue, Enfield, Greater London EN1 4AG	£7,679	42	2	Flat
£325K	06/21	0.31 mi	80, Myddelton Avenue, Enfield, Greater London EN1 4AG	£5,702	57	2	Flat
£300K	12/20	0.31 mi	74, Myddelton Avenue, Enfield, Greater London EN1 4AG	£5,357	56	2	Flat
£280K	11/20	0.37 mi	36, Myddelton Avenue, Enfield, Greater London EN1 4AF	£4,746	59	2	Flat
£340K	02/21	0.37 mi	59, Bicknoller Road, Enfield, Greater London EN1 3NW	£5,667	60	2	Flat
£342K	03/21	0.38 mi	76, Inverness Avenue, Enfield, Greater London EN1 3NU	£5,607	61	2	Flat
£324.5K	11/20	0.39 mi	37, Myddelton Avenue, Enfield, Greater London EN1 4AQ	£5,500	59	2	Flat
£332K	07/23	0.39 mi	39, Myddelton Avenue, Enfield, Greater London EN1 4AQ	£5,724	58	2	Flat
£300K	02/21	0.39 mi	48, Severn Drive, Enfield, Greater London EN1 4LY	£4,690	64	2	Flat
£267.5K	08/21	0.53 mi	140, Maltby Drive, Enfield, Greater London EN1 4EW	£5,047	53	2	Flat
£220K	03/23	0.54 mi	259, Maltby Drive, Enfield, Greater London EN1 4ES	-	-	2	Flat
£322K	01/23	0.59 mi	10, Bridge Close, Enfield, Greater London EN1 4LH	-	-	2	Flat
£307.5K	04/21	0.68 mi	52, Pevensey Avenue, Enfield, Greater London EN1 3HT	£4,960	62	2	Flat
£500K	12/20	0.71 mi	14, Riversfield Road, Enfield, Greater London EN1 3DJ	-	-	2	Flat
£335K	04/21	0.73 mi	8a, Graeme Road, Enfield, Greater London EN1 3UX	-	-	2	Flat
£315K	10/21	0.76 mi	23, Cobham Close, Enfield, Greater London EN1 3SD	£5,431	58	2	Flat
£300K	06/21	0.76 mi	91, Cobham Close, Enfield, Greater London EN1 3SD	£4,839	62	2	Flat
£272K	02/21	0.76 mi	29, Cobham Close, Enfield, Greater London EN1 3SD	£4,459	61	2	Flat
£295K	06/21	0.77 mi	11, Weston Road, Enfield, Greater London EN2 0QD	-	-	2	Flat
£320K	12/20	0.77 mi	2, Weston Road, Enfield, Greater London EN2 0QD	£6,154	52	2	Flat
£297K	03/21	0.77 mi	13, Weston Road, Enfield, Greater London EN2 0QD	£6,907	43	2	Flat
£341K	04/21	0.77 mi	116, Gordon Road, Enfield, Greater London EN2 0QB	£8,025	42	2	Flat
£341K	04/21	0.77 mi	116, Gordon Road, Enfield, Greater London EN2 0QB	£8,025	42	2	Flat
£300K	04/21	0.77 mi	171, Gordon Road, Enfield, Greater London EN2 0QB	£4,545	66	2	Flat
£260K	02/21	0.78 mi	9, Cuba Drive, Enfield, Greater London EN3 5BB	£4,561	57	2	Flat
£330K	07/23	0.8 mi	20, Birkbeck Road, Enfield, Greater London EN2 0DX	£6,686	49	2	Flat
£315K	10/20	0.8 mi	14b, Ladysmith Road, Enfield, Greater London EN1 3AA	-	-	2	Flat
£257K	06/23	0.81 mi	55, Stainton Road, Enfield, Greater London EN3 5JP	£5,636	46	2	Flat
£325K	03/21	0.82 mi	27, Morley Hill, Enfield, Greater London EN2 0BN	-	-	2	Flat
£348K	12/22	0.83 mi	110a, Baker Street, Enfield, Greater London EN1 3EZ	£4,960	70	2	Flat
£275K	11/20	0.84 mi	458, Hertford Road, Enfield, Greater London EN3 5QH	£4,297	64	2	Flat
£352.5K	11/22	0.84 mi	Flat 14, Cheviot Court, Cheviot Close, Enfield, Greater London EN1 3UY	-	-	2	Flat
£339K	04/21	0.84 mi	30, Morley Hill, Enfield, Greater London EN2 0BJ	£5,136	66	2	Flat
£385K	02/21	0.84 mi	66, Drake Street, Enfield, Greater London EN2 0LQ	£6,875	56	2	Flat
£300K	02/21	0.84 mi	Upper Flat, 18, Drake Street, Enfield, Greater London EN2 0LQ	-	-	2	Flat
£365K	03/23	0.84 mi	Flat 27, Cheviot Court, Cheviot Close, Enfield, Greater London EN1 3UY	-	-	2	Flat
£135K	11/22	0.85 mi	46, Stainton Road, Enfield, Greater London EN3 5JS	-	-	2	Flat
£350K	10/22	0.85 mi	Flat 20, Cheviot Court, Cheviot Close, Enfield, Greater London EN1 3UY	-	-	2	Flat
£275K	03/21	0.87 mi	20, Riley Road, Enfield, Greater London EN3 5QB	-	-	2	Flat

Local Rents

26 rents from £1.4K/mo to £1.9K/mo, average is £1.7K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,750	03/24	0 mi	Melling Drive	2	Flat
£1,700	03/25	0.01 mi	-	2	Flat
£1,750	03/25	0.01 mi	-	2	Flat
£1,800	04/24	0.02 mi	-	2	Flat
£1,850	03/24	0.03 mi	Melling Drive, Enfield, EN1	2	Flat
£1,450	10/23	0.12 mi	Linwood Crescent, Enfield, Middlesex, EN1	2	Flat
£1,800	02/25	0.25 mi	-	2	Flat
£1,650	03/24	0.28 mi	Enfield, London, EN1	2	Flat
£1,650	03/24	0.28 mi	-	2	Flat
£1,675	03/24	0.31 mi	Bicknoller Road, London, EN1	2	Flat
£1,675	04/24	0.31 mi	-	2	Flat
£1,575	03/24	0.31 mi	Myddelton Avenue, Enfield	2	Flat
£1,700	12/24	0.35 mi	-	2	Flat
£1,600	03/24	0.36 mi	-	2	Flat
£1,600	03/24	0.38 mi	-	2	Flat
£1,500	03/24	0.38 mi	Adelaide Close, Enfield	2	Flat
£1,500	03/24	0.4 mi	Adelaide Close, Enfield EN1 4AA	2	Flat
£1,575	04/24	0.4 mi	Forty Hill, Enfield, Middlesex, EN2	2	Flat
£1,750	02/25	0.41 mi	-	2	Flat
£1,850	02/25	0.43 mi	-	2	Flat
£1,700	03/24	0.46 mi	Canonbury Road, Enfield, EN1	2	Flat
£1,500	02/24	0.47 mi	-	2	Flat
£1,500	11/24	0.51 mi	-	2	Flat
£1,800	05/24	0.52 mi	-	2	Semi-Detached House
£1,500	04/24	0.59 mi	Bridge Close, Enfield, Middlesex, EN1	2	Flat
£1,600	03/24	0.62 mi	Primrose Avenue, Enfield, EN2	2	Terraced House

Local Area Statistics

Population in EN1	45,67145,671
Population in Enfield	130,248130,248
Town centre distance	1.78 miles away1.78 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.94 miles away0.94 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+18%+18%

Property History

Listed for £225,000

November 27, 2024

Floor Plans

Description

PUBLIC NOTICE
132 Melling Drive, Enfield, EN1 4UZ
We are acting in the sale of the above property and have received an offer of £215,000
Any interested parties must submit any higher offers in writing to the selling agent before an exchange of contracts takes place
EPC Rating: C
CHAIN FREE two-bedroom ground floor apartment for buyers eager on redesigning this lovely property to their own taste to create their ideal home! Located in a quiet turning just a mile from Enfield Town and Turkey Street Stations (with direct links to Liverpool Street).

Additional nearby amenities include Enfield’s Retail Park, Sainsbury’s supermarket, and The David Lloyd Leisure Centre. The property benefits from excellent road links, with the A10 providing quick access to the M25 and A406, offering easy routes to and around Central London. Families will also appreciate the proximity to several 'Ofsted Outstanding' schools, including Russet House School, Enfield Heights Academy, and Forty Hill CofE Primary School.

This apartment offers a great potential for customization and modernisation in a desired are of Enfield.

Full property address including house name or number and the full postcode

We are acting in the sale of the above property and have received an offer of £215,000.

Agent Details

Bairstow Eves, Enfield

020 3910 6380

Next Steps?

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

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