2 Bed Flat, Single Let, London, N22 8RJ, £330,000

Palmerston Road, London, N22 8RJ - 2 views - 4 months ago

Leasehold

BTL

ROI: 2%

~68 m²

+9 photos

ValuationUndervalued

Sold Prices	£210K - £585K
Sold Prices/m²	£3.3K/m² - £8.8K/m²

Square Metres	~68.42 m²
Price/m²	£4.8K/m²
Value Estimate	£405,900£405,900
BMV	23%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£82,500£82,500
Stamp Duty & Legal Fees	£21,700£21,700
Total Cash In	£104,200£104,200

Cash Out
Rent Range	£1,450 - £2,600£1,450 - £2,600
Rent Estimate	£1,544
Running Costs/mo	£1,360£1,360
Cashflow/mo	£184£184
Cashflow/yr	£2,207£2,207
ROI	2%2%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £210K to £585K, average is £423.5K. £3.3K/m² to £8.8K/m², average is £6.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£475K	02/24	0.1 mi	92, Palmerston Crescent, London, Greater London N13 4NH	£6,507	73	2	Flat
£492K	05/21	0.13 mi	56, Kelvin Avenue, London, Greater London N13 4TG	£7,130	69	2	Flat
£311K	04/21	0.14 mi	17, Collings Close, London, Greater London N22 8RL	£4,785	65	2	Flat
£460K	01/21	0.14 mi	67, Kelvin Avenue, London, Greater London N13 4TH	£7,188	64	2	Flat
£420K	07/23	0.15 mi	22, Elmdale Road, London, Greater London N13 4UL	£6,320	66	2	Flat
£375K	11/23	0.17 mi	93a, Bowes Road, London, Greater London N13 4RU	£4,464	84	2	Flat
£345K	06/21	0.17 mi	231a, Whittington Road, London, Greater London N22 8YW	£5,000	69	2	Flat
£370K	03/21	0.21 mi	39c, Palmerston Crescent, London, Greater London N13 4UE	-	-	2	Flat
£437.5K	01/23	0.22 mi	34b, Palmerston Crescent, London, Greater London N13 4UA	-	-	2	Flat
£520K	12/22	0.23 mi	112d, Marlborough Road, London, Greater London N22 8NN	-	-	2	Flat
£340K	05/23	0.23 mi	9, Davey Close, London, Greater London N13 4EX	£5,574	61	2	Flat
£500K	06/21	0.25 mi	4a, Elvendon Road, London, Greater London N13 4SJ	-	-	2	Flat
£522.2K	10/23	0.25 mi	48a, Elvendon Road, London, Greater London N13 4SJ	-	-	2	Flat
£230K	09/23	0.25 mi	28c, Lascotts Road, London, Greater London N22 8JN	-	-	2	Flat
£403K	06/21	0.25 mi	Flat A, 12, Lascotts Road, London, Greater London N22 8JN	£7,750	52	2	Flat
£385K	04/23	0.26 mi	141a, Whittington Road, London, Greater London N22 8YP	£5,658	68	2	Flat
£390K	09/21	0.26 mi	13, Beech Road, London, Greater London N11 2DA	£6,842	57	2	Flat
£435K	01/23	0.26 mi	13, Beech Road, London, Greater London N11 2DA	£7,632	57	2	Flat
£425K	02/21	0.27 mi	21, Beech Road, London, Greater London N11 2DA	£6,746	63	2	Flat
£480K	06/21	0.28 mi	116d, Marlborough Road, London, Greater London N22 8NN	-	-	2	Flat
£397K	01/23	0.28 mi	29a, Hardwicke Road, London, Greater London N13 4SL	£6,360	62	2	Flat
£285K	03/23	0.28 mi	21b, Hardwicke Road, London, Greater London N13 4SL	-	-	2	Flat
£485K	10/20	0.29 mi	15a, Belmont Avenue, Palmers Green, London, Greater London N13 4HD	-	-	2	Flat
£422K	03/23	0.31 mi	42, Hardwicke Road, London, Greater London N13 4SG	£6,918	61	2	Flat
£446K	10/22	0.31 mi	38a, Hardwicke Road, London, Greater London N13 4SG	-	-	2	Flat
£405K	03/21	0.31 mi	21a, Elmwood Avenue, London, Greater London N13 4HG	-	-	2	Flat
£540K	12/20	0.32 mi	5a, Westbury Road, London, Greater London N11 2DB	-	-	2	Flat
£210K	12/22	0.32 mi	5, Westbury Road, London, Greater London N11 2DB	£3,333	63	2	Flat
£375K	06/21	0.32 mi	13a, Cheshire Road, London, Greater London N22 8JJ	-	-	2	Flat
£370K	06/21	0.32 mi	2a, Parkhurst Road, London, Greater London N22 8JQ	-	-	2	Flat
£415K	02/21	0.32 mi	Garden Floor Flat, 28, Parkhurst Road, London, Greater London N22 8JQ	-	-	2	Flat
£585K	01/23	0.33 mi	138a, Brownlow Road, London, Greater London N11 2BP	£5,571	105	2	Flat
£475K	12/22	0.34 mi	102, Brownlow Road, London, Greater London N11 2BP	-	-	2	Flat
£392.5K	11/22	0.34 mi	22, Pilgrims Close, London, Greater London N13 4HX	£5,947	66	2	Flat
£443K	06/23	0.35 mi	67, Marlborough Road, London, Greater London N22 8NJ	£6,712	66	2	Flat
£350K	12/20	0.37 mi	7, Lyndhurst Road, London, Greater London N22 5AX	£8,750	40	2	Flat
£435K	07/23	0.37 mi	99, Lyndhurst Road, London, Greater London N22 5AX	£8,056	54	2	Flat
£470K	01/23	0.37 mi	120, Lyndhurst Road, London, Greater London N22 5AT	£6,963	68	2	Flat
£440K	11/20	0.39 mi	32, Goring Road, London, Greater London N11 2DD	£6,377	69	2	Flat
£440K	06/23	0.4 mi	Ground Floor Flat, 71, Natal Road, London, Greater London N11 2HT	£5,641	78	2	Flat
£440K	06/21	0.4 mi	44b, Natal Road, London, Greater London N11 2HX	-	-	2	Flat
£371.8K	12/20	0.41 mi	First Floor Flat B, 11, Arcadian Gardens, London, Greater London N22 5AA	-	-	2	Flat
£438.8K	10/21	0.43 mi	First Floor Flat, 2, Hampshire Road, London, Greater London N22 8LR	£7,977	55	2	Flat
£297.5K	01/23	0.45 mi	93, Pilgrims Close, London, Greater London N13 4HU	£6,198	48	2	Flat
£405K	01/21	0.45 mi	155, Lyndhurst Road, London, Greater London N22 5AY	£8,100	50	2	Flat
£418K	06/21	0.46 mi	222, Lyndhurst Road, London, Greater London N22 5AU	£7,085	59	2	Flat
£450K	01/23	0.46 mi	174, Lyndhurst Road, London, Greater London N22 5AU	£6,865	66	2	Flat
£416.5K	03/21	0.46 mi	Ground Floor Maisonette, 142, Lyndhurst Road, London, Greater London N22 5AU	-	-	2	Flat
£432.5K	02/23	0.46 mi	27, Palmerston Road, London, Greater London N22 8QH	£6,865	63	2	Flat
£450K	11/20	0.46 mi	41a, Palmerston Road, London, Greater London N22 8QH	£6,250	72	2	Flat

Local Rents

50 rents from £1.4K/mo to £2.6K/mo, average is £1.8K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,000	01/25	0.1 mi	-	2	Terraced House
£1,650	05/24	0.1 mi	-	2	House
£1,650	05/24	0.1 mi	Palmers Green, London, N13	2	Flat
£1,750	05/24	0.13 mi	-	2	House
£1,500	03/25	0.13 mi	-	2	Flat
£1,500	05/24	0.14 mi	Kelvin Avenue, London, N13	2	Flat
£2,100	07/24	0.18 mi	Palmerston Road, N22, Bowes Park, London, N22	2	Flat
£1,625	05/24	0.2 mi	Whittington Road, Bowes Park, N22 8YL	2	Flat
£1,650	06/24	0.2 mi	Palmerston House, Palmers Green, N13	2	Flat
£1,725	06/24	0.21 mi	-	2	Flat
£1,650	06/24	0.21 mi	-	2	Flat
£1,800	05/24	0.21 mi	Palmerston Crescent	2	Flat
£1,900	06/24	0.21 mi	Palmerston Crescent, Palmers Green, N13	2	Flat
£1,850	05/24	0.23 mi	Davey Close Palmers Green N13	2	Flat
£1,850	06/24	0.24 mi	-	2	Flat
£1,600	05/24	0.24 mi	Davey Close, London, N13	2	Flat
£1,850	06/24	0.24 mi	Davey Close, London, N13	2	Flat
£1,700	12/24	0.24 mi	Davey Close, Palmers Green, London	2	Flat
£1,795	04/25	0.24 mi	-	2	Flat
£2,000	02/25	0.25 mi	-	2	Flat
£1,450	05/24	0.25 mi	Lascotts Road, Wood Green, N22 8JN	2	Flat
£1,550	12/24	0.25 mi	-	2	Flat
£1,650	05/24	0.27 mi	Elvendon Road, London, N13	2	Flat
£1,750	06/24	0.28 mi	Lascotts Road ,Wood Green, London, N22	2	Flat
£1,750	06/24	0.28 mi	Lascotts Road ,Wood Green, London, N22	2	Flat
£1,800	06/24	0.28 mi	-	2	Flat
£1,650	07/24	0.29 mi	Marlborough Road, Bowes Park, London, N22	2	Flat
£2,100	06/24	0.31 mi	Manor Road, Wood Green	2	Flat
£1,750	05/24	0.32 mi	Manor Road,	2	Flat
£2,000	01/25	0.32 mi	-	2	Flat
£2,000	03/25	0.32 mi	-	2	Flat
£2,495	05/24	0.32 mi	-	2	Flat
£2,600	05/24	0.32 mi	-	2	Flat
£2,495	05/24	0.32 mi	Bowes Park, London, N22	2	Flat
£2,600	05/24	0.32 mi	Whittington Road, London, N22	2	Flat
£2,200	04/25	0.32 mi	-	2	Flat
£1,750	07/24	0.33 mi	Palmerston Road, Wood Green	2	Flat
£2,250	02/25	0.33 mi	-	2	Flat
£1,900	07/24	0.33 mi	-	2	Flat
£2,500	01/25	0.33 mi	-	2	Flat
£1,675	06/24	0.34 mi	Brownlow Road, London, N11	2	Flat
£1,849	04/25	0.35 mi	-	2	Flat
£1,850	04/25	0.35 mi	-	2	Flat
£2,350	05/24	0.35 mi	-	2	House
£2,290	05/24	0.35 mi	-	2	House
£1,850	07/24	0.35 mi	Parkhurst Road, N22 8JQ	2	Flat
£1,700	12/24	0.36 mi	-	2	Flat
£1,746	02/25	0.37 mi	High Road, Bounds Green, N22	2	Flat
£1,900	02/24	0.37 mi	-	2	Flat
£1,750	05/24	0.37 mi	Brownlow Road, Bounds Green	2	Flat

Local Area Statistics

Population in N22	42,99642,996
Population in London	4,771,9214,771,921
Town centre distance	5.80 miles away5.80 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.41 miles away0.41 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-2%-2%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+9%+9%

Property History

Price changed to £330,000

March 20, 2025

Listed for £340,000

January 2, 2025

Floor Plans

Description

Modern fitted Kitchen +
Double glazed +
Low service Charge +
Modern Bathroom +
Chain Free +
Separate WC +
Second Floor (Top Floor) +

Ideal first time or investment buy: located on a quiet turning on Myddleton Road is this charming Two bedroom second floor apartment in this well maintained purpose built block. CHAIN FREE!

Prickett & Ellis are pleased to offer this well presented two bedroom second floor apartment in a well maintained purpose-built block. The flat comprises a rational and well proportioned plan layout of approximately 663 sqft floor area, with both bedrooms, a generous sized modern 3 piece bathroom suite & living room leading off from a central rectangular entrance hall. There is a spacious double bedroom with fitted wardrobes and a large single bedroom, a bright reception room and separate modern fitted kitchen. The Block also boasts a large communual garden where each resident is allocated their own private section.

Annadale is located close to the many amenities of Myddleton Road as well as being a short walk from Bowes Park Train Station. The property also has transport links to Bounds Green underground station

Leasehold: 134 years remaining
Service Charge: £700 pa
Ground Rent: peppercorn
Council Tax: band C

Agent Details

Prickett & Ellis, Muswell Hill

020 3869 5336

Next Steps?

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

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