2 Bed Terraced House, Planning Permission, London, SE27 9ND, £535,000

Elder Road, West Norwood, SE27 9ND - 4 months ago

Planning
~68 m²
+5 photos

ValuationFair Value

Sold Prices£393K - £815K
Sold Prices/m²£5.6K/m² - £10.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£7.9K/m²

Value Estimate

£533,536

 

 

End Value (After Refurb)

£470,854

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£133,750

Stamp Duty & Legal Fees

£44,700

Refurb Costs

£36,044

Bridging Loan Interest

£14,044

Total Cash In

£230,288

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£470,854

Mortgage (After Refinance)

£353,141

Mortgage LTV

75%

Cash Left In

£230,288

Equity

£117,714

Rent Range

£1,395 - £3,995

Rent Estimate

£1,841

Running Costs/mo

£1,860

Cashflow/mo

£-19

Cashflow/yr

£-223

Gross Yield

4%

Local Sold Prices

51 sold prices from £393K to £815K, average is £525K. £5.6K/m² to £10.4K/m², average is £7.8K/m².

PriceDateDistanceAddressBeds 
£578K03/210.04 mi40, Elder Road, London, Greater London SE27 9ND2
£500K10/220.04 mi58, Elder Road, West Norwood, London, Greater London SE27 9ND2
£600K06/210.13 mi59, Tivoli Road, London, Greater London SE27 0ED2
£570K03/210.15 mi55, Tivoli Road, London, Greater London SE27 0ED2
£600K06/210.15 mi33, Tivoli Road, London, Greater London SE27 0ED2
£460K07/230.15 mi7, Tivoli Road, London, Greater London SE27 0ED2
£561K01/210.2 mi35, Ladas Road, London, Greater London SE27 0UP2
£523.5K03/210.2 mi25, Ladas Road, London, Greater London SE27 0UP2
£565K07/230.2 mi74, Ladas Road, London, Greater London SE27 0UW2
£525K11/200.21 mi10, Finch Avenue, London, Greater London SE27 9TX2
£545K09/220.29 mi21, St Louis Road, London, Greater London SE27 9QN2
£393K11/200.31 mi141b, Central Hill, London, Greater London SE19 1RT2
£435K06/210.33 mi36, Moore Road, London, Greater London SE19 3RA2
£505K04/230.35 mi39, Bloomhall Road, London, Greater London SE19 1JH2
£515K12/220.36 mi164, Rommany Road, London, Greater London SE27 9PT2
£438K09/220.37 mi4, Edge Point Close, London, Greater London SE27 0QS2
£499.5K11/200.37 mi31, St Cloud Road, London, Greater London SE27 9PN2
£400K02/230.39 mi30a, Queen Mary Road, Upper Norwood, London, Greater London SE19 3NW2
£625K06/210.39 mi51, Rommany Road, London, Greater London SE27 9PY2
£690K06/230.39 mi31, Rommany Road, London, Greater London SE27 9PY2
£475K10/210.42 mi52, Durban Road, London, Greater London SE27 9RP2
£435K06/230.42 mi22, Durban Road, London, Greater London SE27 9RP2
£477K09/220.42 mi130, Salters Hill, London, Greater London SE19 1QZ2
£725K06/210.45 mi32, Rommany Road, London, Greater London SE27 9PX2
£650K03/230.47 mi13, Hermitage Road, London, Greater London SE19 3QW2
£650K03/230.47 mi13, Hermitage Road, London, Greater London SE19 3QW2
£600K09/230.51 mi28, Berry Lane, London, Greater London SE21 8AR2
£537.5K01/210.53 mi193a, South Croxted Road, London, Greater London SE21 8AY2
£670K06/210.54 mi3, Thorsden Way, London, Greater London SE19 1RA2
£815K06/230.56 mi39, Greenhurst Road, London, Greater London SE27 0LH2
£563.5K01/230.56 mi10, Chalford Road, London, Greater London SE21 8BX2
£635K01/230.56 mi23, Chalford Road, London, Greater London SE21 8BX2
£693.5K07/220.56 mi7, Chalford Road, London, Greater London SE21 8BX2
£446K01/210.59 mi1, Mountbatten Close, London, Greater London SE19 1AP2
£513K12/220.62 mi35a, Martell Road, West Dulwich, London, Greater London SE21 8ED2
£485K06/220.63 mi122, St Julian's Farm Road, London, Greater London SE27 0RR2
£445K02/210.63 mi26, Bloom Grove, London, Greater London SE27 0HZ2
£435K01/230.64 mi38, Prioress Road, London, Greater London SE27 0NW2
£520K10/210.65 mi5, Robson Road, London, Greater London SE27 9LA2
£550K09/220.65 mi12, Robson Road, London, Greater London SE27 9LA2
£480K03/230.65 mi13, Robson Road, London, Greater London SE27 9LA2
£450K03/210.65 mi10, Robson Road, London, Greater London SE27 9LA2
£640K06/210.68 mi39, Robson Road, London, Greater London SE27 9LB2
£621K02/230.68 mi38, Robson Road, London, Greater London SE27 9LB2
£580K09/220.68 mi64, Robson Road, London, Greater London SE27 9LB2
£690K04/230.68 mi39, Robson Road, London, Greater London SE27 9LB2
£495K03/230.69 mi85, Biggin Hill, London, Greater London SE19 3HT2
£510K11/200.71 mi21, Chichester Mews, London, Greater London SE27 0NS2
£470K05/210.71 mi22, Chichester Mews, London, Greater London SE27 0NS2
£555K11/220.71 mi12, Chichester Mews, London, Greater London SE27 0NS2
£500K07/230.71 mi33, Chichester Mews, London, Greater London SE27 0NS2

Local Rents

49 rents from £1.4K/mo to £4K/mo, average is £1.8K/mo.

RentDateDistanceAddressBeds 
£3,99508/240.12 mi-2
£1,60004/250.15 mi-2
£1,90003/250.15 mi-2
£1,82503/250.17 mi-2
£2,10001/250.19 mi-2
£2,00008/240.2 miLadas Road West Norwood SE272
£1,50008/240.22 miClytha Court, Gipsy Road, West Norwood, SE272
£1,80010/240.27 mi-2
£2,00008/240.3 miKnights Hill London SE272
£1,50002/250.31 mi-2
£2,00008/240.31 miCentral Hill London SE192
£1,90008/240.31 miCedar Tree Grove, London2
£1,80008/240.32 miAuckland Hill, West Norwood, London, SE272
£1,65008/240.32 miAuckland Hill, West Norwood, London, SE272
£1,74502/250.32 mi-2
£1,55003/250.33 mi-2
£1,55002/250.33 mi-2
£1,85008/240.33 miCedar Tree Grove, SE272
£1,50008/240.33 miNorwood High Street, London, SE272
£1,60008/240.34 mi-2
£1,45008/240.34 mi-2
£1,45003/250.34 mi-2
£1,45003/250.34 mi-2
£1,80011/240.35 mi-2
£2,00008/240.37 miKnights Hill, West Norwood, London, SE272
£2,20008/240.37 miSt. Cloud Road London SE272
£2,30002/250.39 mi-2
£1,50008/240.39 mi-2
£1,50008/240.39 miBeulah Hill, London, SE192
£1,75008/240.39 miQueen Mary Road, London, SE192
£1,90001/250.4 mi-2
£1,75010/240.41 mi-2
£1,39502/240.41 mi-2
£1,90008/240.41 miWhiteley Road, London, SE192
£1,90008/240.42 miCentral Hill, Crystal Palace, SE192
£1,95008/240.43 mi-2
£1,70008/240.44 miCentral Hill, London, SE192
£1,95011/240.44 mi-2
£1,90011/240.44 mi-2
£1,90003/250.45 mi-2
£1,90002/250.45 mi-2
£1,94002/250.45 mi-2
£1,65003/250.45 mi-2
£1,95009/240.46 mi-2
£1,95002/250.46 mi-2
£1,85008/240.46 miClive Road, West Dulwich, London, SE212
£1,70008/240.46 miClive Road, West Dulwich, London, SE212
£2,00008/240.47 miThornlaw Road London SE272
£1,60008/240.47 miGipsy Road, London, SE272

Local Area Statistics

Population in SE27

21,358

Population in London

4,771,921

Town centre distance

7.14 miles away

Nearest school

0.10 miles away

Nearest train station

0.52 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-20%

Sales demand

Balanced market

Capital growth (5yrs)

-4%

Property History

Listed for £535,000

December 9, 2024

Floor Plans

Description

  • TWO DOUBLE BEDROOMS +
  • CHARMING VICTORIAN TERRACED HOUSE +
  • FREEHOLD +
  • REAR GARDEN +
  • GREAT LOCATION +
  • GAS CENTRAL HEATING +
  • MODERN FITTED KITCHEN +
  • OPPOSITE NORWOOD PARK +
  • WITHIN WALKING DISTANCE TO WEST NORWOOD HIGH STREET +
  • WITHIN WALKING DISTANCE TO WEST NORWOOD TRAIN STATION +

Nestled in the heart of West Norwood, this charming Victorian terraced house on Elder Road presents an excellent opportunity for both first-time buyers and investors alike. With two well-proportioned bedrooms, a separate kitchen and reception room, and a thoughtfully designed bathroom, this property is both functional and inviting.

The interior is well-presented throughout, offering a blank canvas for you to personalise and make your own. The potential for extension exists, subject to planning permission, allowing you to enhance the living space to suit your needs.

Location is key, and this property does not disappoint. It is conveniently situated within walking distance of a fantastic array of local amenities, ensuring that everything you need is just a stone's throw away. Additionally, West Norwood train station and bus station are nearby, providing excellent transport links to central London and beyond. The property also benefits from being opposite Norwood Park and is the catchment area of some outstanding schools.

This delightful home combines the charm of Victorian architecture with the potential for modern living, making it a must-see for anyone looking to settle in a vibrant and well-connected community. Don’t miss the chance to explore the possibilities this property has to offer.

Tenure: Freehold
Lambeth Council
Council Tax Band: D (£1865.00)

Safeguarding Your Information
Important information regarding cybercrime. It has come to our attention that computer hackers are seeking to target property transactions to access funds. As we understand it, they will either hack a phone, tablet, or PC, maybe by sending out a random email that mistakenly gets opened, or even whilst opening a website, which gives them access to that machine. The reason for us mentioning this to you is to alert you that once they have gained access, they can monitor email correspondence, without you knowing, throughout a transaction. Then, at a relevant point, e.g. just before the exchange of contracts, they can send an email to a client mirroring that of their solicitor asking for funds to be transferred to a certain bank account. That money then, of course, disappears. Fortunately, we have not had such an instance but, feel it important to highlight the fact that if you do receive an email requesting funds, it is worth checking with the person concerned by phone that it is genuine and the bank details are correct, before sending money. This could, of course, affect other areas of finance beyond the property. Solicitors are starting to highlight this point now, but for safety, we would urge you to be vigilant and check before sending money or passing on any personal details regarding any bank or credit card information.
The Property Misdescriptions Act 1991
These particulars are set out as a general outline in accordance with the Property Misdescriptions Act (1991) only for the guidance of intending purchasers or lessees and do not constitute any part of an offer or contract. Details are given without any responsibility, and any intending purchasers, lessees or third parties should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. We have not carried out a structural survey and the services, appliances and specific fittings have not been tested. All photographs, measurements, floor plans, and distances referred to are given as a guide only and should not be relied upon for the purchase of carpets or any other fixtures or fittings. Gardens, roof terraces, balconies as well as tenure and lease details cannot have their accuracy guaranteed for intending purchasers. Lease details, service charge, ground rent are given as a guide only and should be checked and confirmed by your solicitor. No person in the employment of Galloways has any authority to make any representation or warranty in relation to this property. Purchase prices, rents, or other prices quoted are correct at the date of publication and, unless otherwise stated, exclusive of VAT.
Data Protection
We retain the copyright in all advertising material used to market this Property.
Disclosure of Referral Fees
As well as your obligation to pay Galloway's commission or fees where applicable we may also receive a commission, payment, fee, or other reward or other benefits (known as a Referral Fee) from ancillary service providers for recommending their service to you. We believe you may benefit from using the services of our solicitors, independent financial advisors, Galloways Concierge and surveyors, the Providers, who are known as Lewis Nedas Law, Setfords Solicitors, Emin Read solicitors, Taylor Rose Solicitors, Just Move In, Eternity Financial Services and Reliable Surveyors, MAP Surveyors. Galloways always refer sellers and purchasers to Lewis Nedas Law, Setfords solicitors, Emin Read and Taylor Rose solicitors. It is your decision whether you choose to deal with the named companies. Should you decide to use Lewis Nedas Law, Setfords solicitors, Emid Read solicitors or Taylor Rose solicitors you should know that we would receive a referral fee of £180.00 inc VAT from them for recommending you to them. Galloways routinely refer all potential purchasers and vendors to Eternity Financial Services. It is your decision whether you choose to deal with Eternity Financial Services. In making that decision, you should know that we receive benefits from Eternity Financial Services. The amount depends on the property value and level of mortgage. A share of this fee is received by Galloways, the details of which are available upon request.
Galloways offer all of our customers the opportunity to use the services of Reliable surveyor and MAP surveyors. It is your decision whether you choose to deal with Reliable surveyors or MAP surveyors. You should know that Galloways receives a referral fee of £50.00 inc VAT from Reliable surveyors or MAP Surveyors for recommending you to them. You are not under any obligation to use the services of any of the recommended providers, though should you accept our recommendation the provider is expected to pay us the corresponding Referral Fee. The Referral fee is separate from your obligation to pay our own fees or commission.
TENANT FEE INFORMATION
Applicable to all new assured shorthold Tenancies (ASTs) signed on or after 1st June 2019
Holding Deposit: Capped at One weeks rent
Paid by you to reserve the Property. This will only be retained by us if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days.
Deposit:
Capped at 5 weeks rent where the annual rent is under £50,000 and 6 weeks rent where the annual rent is £50,000 or higher.
This will cover damages and defaults by the tenant as detailed in the AST during the tenancy.
Late payment of Rent:
Interest will be charged at 3% above the Bank of England Base Rate from Rent Due date until paid in full. This will not be levied until the rent is more than 14 days in arrears with the interest calculated back from the first day of the arrears.
Lost Keys or security devices:
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant.
Variation or changes to an existing tenancy agreement:
£50.00 (inc. VAT) per change.

This charge will cover the costs associated with taking landlord's instructions as well as the preparation and execution of new legal documents. This also covers costs in change of sharer situations and covers the landlord's costs in securing a new sharing and associated legal requirements in processing that new sharers application.
Early Termination as requested by Tenant:
Should you wish to leave the property before the end of your tenancy agreement, and should the landlord agree to this, then you will be liable to cover the landlord's costs of re-letting the property as well as any rent due under the terms of your tenancy agreement up until the point the replacement tenancy commences.
Utility Payments:
Tenants will remain responsible, unless agreed otherwise, for all utility payments, TV licence and Council Tax accounts. Please refer to your AST for full information.
Galloways are registered members of Propertymark (ARLA & NAEA), TPO (The Property Ombudsman), and CMP Client Money Protection is in place.

Agent Details

Galloways, West Norwood

020 3870 2926

Next Steps?

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