2 Bed Flat, Single Let, London, N3 1XY, £499,000

Ballards Lane, Finchley. N3 1XY - 4 months ago

Leasehold

BTL

~92 m²

+13 photos

ValuationUndervalued

Sold Prices	£235K - £931K
Sold Prices/m²	£3.7K/m² - £9.4K/m²

Square Metres	~92 m²
Price/m²	£5.4K/m²
Value Estimate	£603,790£603,790
BMV	21%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£124,750£124,750
Stamp Duty & Legal Fees	£38,600£38,600
Total Cash In	£163,350£163,350

Cash Out
Rent Range	£1,600 - £2,492£1,600 - £2,492
Rent Estimate	£1,700
Running Costs/mo	£1,919£1,919
Cashflow/mo	£-219£-219
Cashflow/yr	£-2,632£-2,632
Gross Yield	4%4%

Local Sold Prices

50 sold prices from £235K to £931K, average is £440K. £3.7K/m² to £9.4K/m², average is £7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£475K	06/21	0.04 mi	10, Falkland Avenue, London, Greater London N3 1QR	-	-	2	Flat
£472K	04/21	0.04 mi	2a, Falkland Avenue, London, Greater London N3 1QR	£6,941	68	2	Flat
£580K	03/21	0.11 mi	66, Princes Avenue, London, Greater London N3 2DB	-	-	2	Flat
£550K	12/22	0.11 mi	62b, Princes Avenue, London, Greater London N3 2DB	-	-	2	Flat
£565K	09/21	0.2 mi	34, Redbourne Avenue, London, Greater London N3 2BS	£5,090	111	2	Flat
£620K	06/21	0.22 mi	4, Howcroft Crescent, London, Greater London N3 1PB	£7,045	88	2	Flat
£405K	03/23	0.23 mi	Flat 17, Norman Court, Nether Street, London, Greater London N3 1QQ	-	-	2	Flat
£400K	03/21	0.24 mi	14a, Brownlow Road, London, Greater London N3 1NA	£6,452	62	2	Flat
£398K	06/23	0.28 mi	Flat 13, Western Court, Huntly Drive, London, Greater London N3 1NX	-	-	2	Flat
£237.4K	01/23	0.3 mi	Flat 5, The Fountains, Ballards Lane, Finchley, London, Greater London N3 1NL	-	-	2	Flat
£460K	04/21	0.33 mi	18, Grosvenor Road, London, Greater London N3 1EX	£7,077	65	2	Flat
£454K	10/22	0.34 mi	Flat 33, Finchley Court, Ballards Lane, Finchley, London, Greater London N3 1NH	-	-	2	Flat
£412.5K	02/21	0.34 mi	Flat 1, Finchley Court, Ballards Lane, Finchley, London, Greater London N3 1NH	-	-	2	Flat
£450K	06/21	0.34 mi	61, Grosvenor Road, London, Greater London N3 1EY	£7,258	62	2	Flat
£575K	05/21	0.34 mi	45, Grosvenor Road, London, Greater London N3 1EY	£9,271	62	2	Flat
£415K	04/21	0.34 mi	15a, Dollis Road, London, Greater London N3 1RB	-	-	2	Flat
£425K	04/21	0.34 mi	Flat 11, Dollis Court, Crescent Road, London, Greater London N3 1HR	-	-	2	Flat
£490K	06/21	0.35 mi	Flat A, 3, Etchingham Park Road, London, Greater London N3 2DU	£7,758	63	2	Flat
£500K	06/21	0.35 mi	57, Dollis Park, London, Greater London N3 1HJ	£7,042	71	2	Flat
£415K	11/20	0.35 mi	51, Grosvenor Road, London, Greater London N3 1EY	£6,684	62	2	Flat
£590K	12/20	0.36 mi	Ground Floor Flat, 25, Elm Park Road, London, Greater London N3 1EG	£8,939	66	2	Flat
£423K	07/23	0.36 mi	Flat 76, Finchley Court, Ballards Lane, Finchley, London, Greater London N3 1NJ	-	-	2	Flat
£460K	06/21	0.36 mi	70a, Elm Park Road, London, Greater London N3 1EB	-	-	2	Flat
£235K	12/20	0.37 mi	70, Eversleigh Road, London, Greater London N3 1JA	£3,730	63	2	Flat
£390K	05/21	0.37 mi	55, Long Lane, London, Greater London N3 2HY	£5,065	77	2	Flat
£515K	06/21	0.37 mi	95a, Long Lane, London, Greater London N3 2HY	£6,719	77	2	Flat
£380K	05/23	0.37 mi	83a, Long Lane, London, Greater London N3 2HY	-	-	2	Flat
£400K	04/21	0.38 mi	47a, Lichfield Grove, London, Greater London N3 2JJ	-	-	2	Flat
£472K	12/22	0.38 mi	Flat 21, Etchingham Court, Etchingham Park Road, London, Greater London N3 2EA	-	-	2	Flat
£273.8K	03/21	0.39 mi	Flat 5, Spencer Court, Granville Road, London, Greater London N12 0HN	-	-	2	Flat
£440K	03/21	0.4 mi	7a, Woodlands Avenue, London, Greater London N3 2NS	-	-	2	Flat
£489K	12/20	0.4 mi	11, Woodlands Avenue, London, Greater London N3 2NS	-	-	2	Flat
£450K	12/22	0.41 mi	28, Gordon Road, London, Greater London N3 1EJ	£5,921	76	2	Flat
£450K	08/23	0.42 mi	55a, Dollis Road, London, Greater London N3 1RD	-	-	2	Flat
£436K	03/21	0.42 mi	55b, Dollis Road, London, Greater London N3 1RD	£7,267	60	2	Flat
£410K	04/21	0.42 mi	Ground Floor Maisonette, 83, Dollis Road, London, Greater London N3 1RD	-	-	2	Flat
£415K	09/23	0.42 mi	18, Burnbrae Close, London, Greater London N12 8PH	£6,103	68	2	Flat
£390K	11/20	0.42 mi	18, Burnbrae Close, London, Greater London N12 8PH	£5,735	68	2	Flat
£535K	05/23	0.42 mi	22, Woodlands Avenue, London, Greater London N3 2NR	£9,386	57	2	Flat
£347K	10/20	0.42 mi	214c, Ballards Lane, London, Greater London N3 2LX	£5,422	64	2	Flat
£440K	11/20	0.44 mi	190a, Squires Lane, London, Greater London N3 2QT	£6,769	65	2	Flat
£470K	11/20	0.44 mi	196, Squires Lane, London, Greater London N3 2QT	£7,705	61	2	Flat
£931K	05/21	0.44 mi	93, Lichfield Grove, London, Greater London N3 2JL	£7,000	133	2	Flat
£368.1K	11/21	0.44 mi	261b, Ballards Lane, London, Greater London N3 1NG	£6,347	58	2	Flat
£430K	01/21	0.44 mi	Flat 8, The Laurels, Nether Street, London, Greater London N3 1NP	-	-	2	Flat
£485K	10/23	0.46 mi	27b, Granville Road, London, Greater London N12 0HP	£7,647	63	2	Flat
£500K	11/22	0.47 mi	2, Woodberry Gardens, London, Greater London N12 0HD	£8,197	61	2	Flat
£385K	01/23	0.47 mi	165, Squires Lane, London, Greater London N3 2AA	-	-	2	Flat
£360K	04/21	0.48 mi	61, Bow Lane, London, Greater London N12 0JL	-	-	2	Flat
£308K	08/23	0.5 mi	170d, Long Lane, London, Greater London N3 2RA	-	-	2	Flat

Local Rents

50 rents from £1.6K/mo to £2.5K/mo, average is £2K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,200	06/24	0.04 mi	-	2	Flat
£2,199	07/24	0.04 mi	-	2	Flat
£2,200	07/24	0.04 mi	-	2	Flat
£2,150	05/24	0.04 mi	Cornwall Avenue, Finchley	2	Flat
£2,150	08/24	0.05 mi	Cornwall Works, London, N3	2	Flat
£2,150	08/24	0.05 mi	-	2	Flat
£1,900	05/24	0.05 mi	-	2	Flat
£1,900	05/24	0.05 mi	Long Lane, London, N3	2	Flat
£2,200	07/24	0.05 mi	-	2	Flat
£2,200	08/24	0.05 mi	-	2	Flat
£1,950	05/24	0.06 mi	-	2	Flat
£1,950	05/24	0.06 mi	Ballards Lane, London, N3	2	Flat
£1,846	09/24	0.07 mi	Princes Avenue, Finchley Central N3	2	Flat
£1,950	07/24	0.08 mi	Ballards Lane, Finchley	2	Flat
£1,950	09/24	0.08 mi	Ballards Lane, Finchley	2	Flat
£2,050	09/24	0.09 mi	-	2	Flat
£2,050	04/25	0.09 mi	-	2	Flat
£2,050	08/24	0.09 mi	Princes Avenue, London, N3	2	Flat
£2,050	08/24	0.09 mi	-	2	Flat
£1,700	03/25	0.09 mi	-	2	Flat
£1,750	08/24	0.11 mi	Ballards Lane, London, N3	2	Flat
£1,750	06/24	0.11 mi	Princes Avenue, Finchley Central, London	2	Flat
£2,200	05/24	0.11 mi	-	2	House
£2,000	06/24	0.12 mi	Ballards Lane, Church End, London, N3	2	Flat
£1,950	06/24	0.13 mi	Dorset Mews, London, N3	2	Flat
£2,100	06/24	0.13 mi	Dorset Mews London N3	2	Flat
£1,750	06/24	0.15 mi	Long Lane, Finchley, London	2	Flat
£2,200	05/24	0.17 mi	Ballards Lane, London, N3	2	Flat
£1,725	08/24	0.17 mi	Princes Avenue, Finchley Central, N3	2	Flat
£2,250	05/24	0.18 mi	Princes Avenue, Finchley, N3	2	Flat
£2,000	07/24	0.18 mi	Ballards Lane, Finchley	2	Flat
£1,850	02/24	0.19 mi	-	2	House
£1,800	06/24	0.19 mi	Nether Close, (MS072), Finchley, N3	2	Flat
£1,900	08/24	0.19 mi	The Grove, Finchley Central, London	2	Flat
£1,700	07/24	0.19 mi	The Grove, Finchley Central, London, N3 1QT	2	Flat
£2,300	07/24	0.19 mi	Shakespeare Road, London, N3	2	Flat
£1,850	05/24	0.2 mi	Nether Close, N3 1AA	2	Flat
£1,900	08/24	0.2 mi	Ballards Lane, Finchley Central, N3	2	Flat
£1,900	09/24	0.2 mi	Ballards Lane, Finchley Central, N3	2	Flat
£1,900	08/24	0.2 mi	Ballards Lane, Finchley Central, N3	2	Flat
£1,700	11/24	0.21 mi	-	2	Flat
£2,295	05/24	0.21 mi	Ballards Lane, Finchley	2	Flat
£2,350	07/24	0.21 mi	Ballards Lane, Finchley	2	Flat
£1,900	01/25	0.22 mi	-	2	Flat
£1,900	02/25	0.22 mi	-	2	Flat
£2,000	05/24	0.22 mi	Ballards Lane, Finchley Central, N3	2	Flat
£2,492	04/25	0.22 mi	-	2	Bungalow
£2,450	08/24	0.22 mi	-	2	Flat
£1,600	05/24	0.22 mi	Nether Street, Finchley, N3	2	Flat
£2,000	05/24	0.24 mi	Nether Street, Finchley, London, N3	2	Flat

Local Area Statistics

Population in N3	26,58426,584
Population in London	4,771,9214,771,921
Town centre distance	6.38 miles away6.38 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	0.27 miles away0.27 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-30%-30%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+19%+19%

Property History

Listed for £499,000

December 3, 2024

Floor Plans

Description

TWO DOUBLE BEDROOMS DRESSING AREA +
TWO BATHROOMS - (ONE EN-SUITE) +
RECEPTION ROOM OPENING TO EQUIPPED KITCHEN +
DOUBLE GLAZING +
BALCONY / TERRACE +
GAS CENTRAL HEATING +
OFF STREET CAR PARKING SPACE +
NEUTRAL DECORATIONS & FLOORING +
120 YEAR LEASE +
CHAIN FREE +

TWO DOUBLE BEDROOM & TWO BATHROOM first floor flat forming part of recently refurbished development of ten units, located above shopping parade, just a short walk from Finchley Central underground station. Victoria Park is also nearby.
The property extends just under 1000sq ft (92sq m), benefits from balcony / terrace, lift & off street car parking space. Chain free with 120 year lease.

* TWO DOUBLE BEDROOMS
* TWO BATHROOMS - (ONE EN-SUITE)
* RECEPTION ROOM OPENING TO FITTED & EQUIPPED KITCHEN
* DOUBLE GLAZING
* BALCONY / TERRACE
* GAS CENTRAL HEATING
* OFF STREET CAR PARKING SPACE
* NEUTRAL DECORATIONS & FLOORING
* 120 YEAR LEASE
* DRESSING AREA

Communal entrance. Lift to all floors. 1st floor. Own front door to:

ENTRANCE HALL Door to:

KITCHEN / RECEPTION ROOM 37'10 x 12' (11.54m x 3.67m) max. Reception area leading to kitchen with range of fitted base & wall units. Worktops & sink. Oven, hob & hood. Washing machine. Integrated fridge / freezer. Integrated dishwasher. Window to side. Double doors to:

BALCONY / TERRACE

BATHROOM/WC Three piece suite.

LOBBY Doors to:

BEDROOM ONE 16'1 x 13'1 (4.91m x 3.98m). Windows to front. Door to dressing area. Door to:

EN-SUITE SHOWER ROOM / WC Shower. Wash basin. Low level wc.

BEDROOM TWO 14'1 x 11'11 (4.29m x 3.64m). Window to front.

EXTERIOR

OFF STREET CAR PARKING SPACE In gated car park to rear. Access via Falkland Avenue. Pedestrian access from Lovers Walk.

LEASE 125 years from 2019 ie 120 years remaining.

GROUND RENT £350 PA

SERVICE CHARGE We are advised circa £1,730.00pa. Building insurance circa £350pa.

COUNCIL TAX BAND F - BARNET

The agent has not tested any apparatus, equipment, fixtures, fittings or services, and so cannot verify they are in working order, or fit for their purpose, nor has the agent checked the legal documentation to verify the tenure of the property. The buyer is advised to obtain verification from their solicitor or surveyor. Photographs are for illustration only and may depict items which are not for sale or included in the sale of the property. All measurements quoted are approximate and their accuracy should not be relied upon. A prospective purchaser must check the availability of any property and make an appointment to view before embarking on any journey.

Agent Details

Bennett & Hall, London

020 8346 2208

Next Steps?

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