2 Bed Flat, Refurb/BRRR, London, N17 0BW, £320,000

42 Altair Close, London, Greater London, N17 0BW - 4 views - 4 months ago

Sold STC

Leasehold

Refurb/BRRR

ROI: 3%

70 m²

+10 photos

ValuationUndervalued

Sold Prices	£230K - £491K
Sold Prices/m²	£3.2K/m² - £8.3K/m²

Square Metres	70 m²
Price/m²	£4.6K/m²
Value Estimate	£328,932£328,932
BMV	3%

End Value (After Refurb)	£342,437£342,437
Uplift in Value	+7%+7%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£80,000£80,000
Stamp Duty & Legal Fees	£14,300£14,300
Refurb Costs	£37,032£37,032
Bridging Loan Interest	£8,400£8,400
Total Cash In	£141,482£141,482

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£342,437£342,437
Mortgage (After Refinance)	£256,828£256,828
Mortgage LTV	75%75%
Cash Released	£16,828£16,828
Cash Left In	£124,654£124,654
Equity	£85,609£85,609
Rent Range	£1,450 - £3,500£1,450 - £3,500
Rent Estimate	£1,834
Running Costs/mo	£1,457£1,457
Cashflow/mo	£377£377
Cashflow/yr	£4,525£4,525
ROI	3%3%
Gross Yield	7%7%

Local Sold Prices

48 sold prices from £230K to £491K, average is £275K. £3.2K/m² to £8.3K/m², average is £4.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£307K	03/21	0.18 mi	69, Northumberland Park, London, Greater London N17 0TG	£6,532	47	2	Flat
£285K	11/22	0.21 mi	1, Taylor Close, London, Greater London N17 0UB	£4,914	58	2	Flat
£300K	06/21	0.29 mi	106, Middleham Road, London, Greater London N18 2SD	£5,882	51	2	Flat
£342K	02/23	0.32 mi	123, Northumberland Park, London, Greater London N17 0TL	£6,333	54	2	Flat
£233K	02/22	0.32 mi	Flat 7, Bridport House, Colyton Way, London, Greater London N18 2XJ	-	-	2	Flat
£310K	04/21	0.34 mi	17, Academia Way, London, Greater London N17 8HE	£4,559	68	2	Flat
£320K	08/21	0.36 mi	Flat 37, Somerset Hall, Creighton Road, London, Greater London N17 8SH	-	-	2	Flat
£275K	11/20	0.36 mi	Flat 55, Somerset Hall, Creighton Road, London, Greater London N17 8SH	-	-	2	Flat
£290K	11/22	0.38 mi	Flat 46, Somerset Hall, Creighton Road, London, Greater London N17 8SH	-	-	2	Flat
£274K	03/23	0.42 mi	10, Park Lane Close, London, Greater London N17 0HL	£4,281	64	2	Flat
£321K	06/21	0.51 mi	28, Gascoigne Close, London, Greater London N17 8BA	£5,350	60	2	Flat
£245K	03/21	0.55 mi	Flat 14, Corbridge House, Northumberland Park, London, Greater London N17 0QE	-	-	2	Flat
£251K	10/21	0.56 mi	14, Dickens Lane, London, Greater London N18 1PH	-	-	2	Flat
£230K	06/22	0.56 mi	23, Dickens Lane, London, Greater London N18 1PH	£5,610	41	2	Flat
£285K	07/23	0.57 mi	Flat 3, Whittingham House, Northumberland Park, London, Greater London N17 0QG	£3,958	72	2	Flat
£245K	07/22	0.57 mi	82, Wigston Close, London, Greater London N18 1XF	£4,737	52	2	Flat
£245K	02/22	0.59 mi	6, Inverness Road, London, Greater London N18 2EE	£5,000	49	2	Flat
£275K	04/23	0.6 mi	26, Culpepper Close, London, Greater London N18 2DZ	£4,661	59	2	Flat
£270K	03/23	0.6 mi	12, Culpepper Close, London, Greater London N18 2DZ	£4,091	66	2	Flat
£415K	04/23	0.61 mi	52, Pembury Road, London, Greater London N17 8LY	-	-	2	Flat
£250K	08/22	0.65 mi	55, Tanners End Lane, London, Greater London N18 1PQ	£3,571	70	2	Flat
£255K	06/22	0.65 mi	49, Tanners End Lane, London, Greater London N18 1PQ	£5,835	44	2	Flat
£270K	11/21	0.65 mi	50, Leopold Road, London, Greater London N18 2HX	-	-	2	Flat
£266K	12/21	0.66 mi	70, Leopold Road, London, Greater London N18 2HX	£5,216	51	2	Flat
£260K	04/21	0.66 mi	46, Leopold Road, London, Greater London N18 2EW	£4,409	59	2	Flat
£265K	07/22	0.66 mi	28, Herne Mews, London, Greater London N18 2QZ	-	-	2	Flat
£243K	02/23	0.66 mi	38, Tanners End Lane, London, Greater London N18 1PG	£3,197	76	2	Flat
£262K	03/21	0.73 mi	40, Siddons Road, London, Greater London N17 9UT	£4,596	57	2	Flat
£400K	11/22	0.73 mi	46, Siddons Road, London, Greater London N17 9UT	-	-	2	Flat
£250K	01/22	0.74 mi	56, Leopold Road, London, Greater London N18 2HX	£4,237	59	2	Flat
£270K	11/21	0.74 mi	50, Leopold Road, London, Greater London N18 2HX	-	-	2	Flat
£260K	12/22	0.75 mi	52, Pycroft Way, London, Greater London N9 9XY	£4,407	59	2	Flat
£270K	09/22	0.79 mi	49, Pycroft Way, London, Greater London N9 9XU	£5,348	50	2	Flat
£260K	03/21	0.79 mi	53, Pycroft Way, London, Greater London N9 9XU	£4,906	53	2	Flat
£380K	12/22	0.82 mi	First Floor Flat, 42, Bruce Grove, London, Greater London N17 6RN	£5,672	67	2	Flat
£262K	05/21	0.83 mi	Flat 4, Romany House, Beaconsfield Road, London, Greater London N9 0PY	-	-	2	Flat
£335K	06/21	0.84 mi	157, Shelbourne Road, London, Greater London N17 9YD	-	-	2	Flat
£326K	06/21	0.84 mi	161a, Shelbourne Road, London, Greater London N17 9YD	£5,344	61	2	Flat
£365K	06/21	0.84 mi	4b, Linley Road, London, Greater London N17 6RP	-	-	2	Flat
£320K	04/23	0.85 mi	25b, Forest Gardens, London, Greater London N17 6XA	-	-	2	Flat
£370K	05/21	0.87 mi	3b, Radley Road, London, Greater London N17 6RH	£6,379	58	2	Flat
£375K	06/23	0.88 mi	Flat 9, Gaven House, Broadwater Road, London, Greater London N17 6JB	-	-	2	Flat
£257.5K	09/21	0.89 mi	42, Grilse Close, London, Greater London N9 0UU	£4,952	52	2	Flat
£400K	10/20	0.94 mi	Ground Floor Flat, 271, Mount Pleasant Road, London, Greater London N17 6HD	£5,797	69	2	Flat
£315K	10/23	0.94 mi	16a, Sunnyside Road North, London, Greater London N9 9SW	-	-	2	Flat
£275K	03/22	0.97 mi	41, Jeremys Green, London, Greater London N18 2NB	£4,260	65	2	Flat
£374K	03/21	0.99 mi	28b, The Avenue, Tottenham, London, Greater London N17 6TD	-	-	2	Flat
£491K	06/23	0.99 mi	14, The Avenue, Tottenham, London, Greater London N17 6TD	£8,322	59	2	Flat

Local Rents

52 rents from £1.4K/mo to £3.5K/mo, average is £1.9K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,700	06/24	0.07 mi	Brantwood Road, Tottenham, London, N17	2	Flat
£1,900	05/24	0.09 mi	-	2	Flat
£1,650	03/25	0.13 mi	-	2	Flat
£2,150	12/24	0.14 mi	-	2	Semi-Detached House
£2,200	03/25	0.15 mi	-	2	Flat
£2,050	12/24	0.15 mi	-	2	Flat
£1,950	03/25	0.15 mi	-	2	Flat
£1,850	03/25	0.16 mi	-	2	Flat
£3,500	02/25	0.16 mi	-	2	Flat
£2,495	02/25	0.17 mi	-	2	Bungalow
£2,495	01/25	0.17 mi	-	2	Bungalow
£2,395	02/25	0.17 mi	-	2	Bungalow
£2,345	02/25	0.17 mi	-	2	Bungalow
£2,345	02/25	0.17 mi	-	2	Bungalow
£2,345	02/25	0.17 mi	-	2	Bungalow
£2,195	03/25	0.17 mi	-	2	Bungalow
£1,850	04/25	0.18 mi	-	2	Flat
£1,750	03/25	0.2 mi	-	2	Flat
£1,850	06/24	0.22 mi	Leyburn Grove, Edmonton, London	2	House
£1,800	05/24	0.25 mi	-	2	Flat
£1,662	05/24	0.28 mi	Trulock Road, Tottenham, London, N17	2	Flat
£1,750	06/24	0.28 mi	Trulock Road, Tottenham, London, N17	2	Flat
£1,800	05/24	0.29 mi	Trulock Road, Northumberland Park, Tottenham, London, N17	2	Terraced House
£1,950	01/25	0.3 mi	-	2	Flat
£2,400	04/25	0.31 mi	-	2	Flat
£1,800	03/25	0.34 mi	-	2	Flat
£1,800	05/24	0.34 mi	2 Bedroom Flat – Academia Way, White Hart Lane N17	2	Flat
£1,950	06/24	0.35 mi	Lancaster Road, Edmonton	2	Terraced House
£1,900	01/25	0.36 mi	-	2	Flat
£1,600	06/24	0.36 mi	Somerset Hall, Creighton Road, Tottenham N17	2	Flat
£1,700	12/24	0.37 mi	-	2	Flat
£1,900	04/25	0.37 mi	-	2	Flat
£1,975	03/25	0.37 mi	-	2	Flat
£2,500	06/24	0.37 mi	Creighton Road, N17	2	Flat
£1,750	03/25	0.37 mi	-	2	Flat
£2,000	06/24	0.37 mi	-	2	Flat
£1,850	02/24	0.45 mi	-	2	Flat
£1,850	02/24	0.45 mi	-	2	Flat
£1,850	02/24	0.45 mi	-	2	Flat
£3,000	05/24	0.45 mi	-	2	Flat
£1,800	02/25	0.45 mi	-	2	Flat
£1,650	06/24	0.46 mi	Park Lane, Tottenham, London, N17	2	Flat
£1,550	05/24	0.46 mi	Park Lane, TOTTENHAM, N17	2	Flat
£1,850	03/25	0.47 mi	-	2	Flat
£1,450	12/24	0.49 mi	-	2	Flat
£1,700	02/24	0.5 mi	-	2	Flat
£1,700	02/24	0.5 mi	-	2	Flat
£1,700	05/24	0.5 mi	-	2	Flat
£1,600	04/25	0.51 mi	-	2	Flat
£1,700	12/24	0.52 mi	-	2	Flat
£2,000	12/24	0.52 mi	-	2	Flat
£1,800	04/25	0.52 mi	-	2	Flat

Local Area Statistics

Population in N17	62,84362,843
Population in London	4,771,9214,771,921
Town centre distance	5.79 miles away5.79 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.30 miles away0.30 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+3%+3%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+14%+14%

Property History

Listed for £320,000

December 10, 2024

Sold for £66,000

1999

Floor Plans

Description

Two Bedroom Flat +
Second Floor +
In Need Of Modernisation +
Double Bedrooms +
Ample Storage Space Throughout +
Chain Free +
Double Glazed +
Top Floor +
Excellent Location +
EPC Rating : D +

Kings Group are pleased to present this two bedroom second floor flat for sale. The property is in need of modernisation throughout and benefits from a spacious light and airy lounge, separate fitted kitchen with dining space, two double bedrooms with built in wardrobes, three piece bathroom suite and ample storage space throughout. This would be an ideal opportunity for a first time buyer or investor.

Situated minutes away from the regeneration, the property is 0.4 miles to White Hart Lane Station with trains going directly to Liverpool Street Station and excellent bus routes connecting Central London and the surrounding areas. The property is moments away from local schools, amenities and restaurants and there is further development with new shops being built alongside the stadium. The High Road West project proposes a new public square with new restaurants and shops creating new jobs and growth within the local area.

Agent Details

Kings Group, Tottenham

020 3870 6388

Next Steps?

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