2 Bed Flat, Refurb/BRRR, London, E9 5BN, £250,000

Bradstock Road, by Well Street, E9 5BN - 38 views - 4 months ago

Leasehold

Cash

Refurb/BRRR

~68 m²

+6 photos

ValuationUndervalued

Sold Prices	£260K - £950K
Sold Prices/m²	£4.9K/m² - £13K/m²

Square Metres	~68.11 m²
Price/m²	£3.7K/m²
Value Estimate	£257,500£257,500
BMV	3%

End Value (After Refurb)	£557,420£557,420
Uplift in Value	+123%+123%
You could potentially get back more cash than you put into this deal. All your cash out plus £115,020 extra. See the breakdown

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£62,500£62,500
Stamp Duty & Legal Fees	£8,700£8,700
Refurb Costs	£36,033£36,033
Bridging Loan Interest	£6,563£6,563
Total Cash In	£115,545£115,545

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£557,420£557,420
Agent Fees (1%)	£5,574£5,574
Bridging Loan	£187,500£187,500
Bridging Loan Interest	£6,563£6,563
Flip Profit	£248,801£248,801

Local Sold Prices

50 sold prices from £260K to £950K, average is £423.5K. £4.9K/m² to £13K/m², average is £7.8K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£385K	03/21	0.1 mi	109, Anderson Road, London, Greater London E9 6HJ	£4,936	78	2	Flat
£280K	06/23	0.11 mi	Flat 58, Vaine House, Cassland Road, London, Greater London E9 5BT	-	-	2	Flat
£327K	03/21	0.14 mi	Flat 23, Gadsden House, Digby Road, London, Greater London E9 6HS	-	-	2	Flat
£465K	06/21	0.16 mi	Flat 101, Gascoyne House, Gascoyne Road, London, Greater London E9 7BL	-	-	2	Flat
£520K	11/20	0.16 mi	Flat 127, Gascoyne House, Gascoyne Road, London, Greater London E9 7BN	-	-	2	Flat
£370K	04/23	0.2 mi	Flat 16, Nisbet House, Homerton High Street, London, Greater London E9 6AJ	-	-	2	Flat
£405K	01/21	0.23 mi	35a, Kenworthy Road, London, Greater London E9 5RB	£7,879	51	2	Flat
£373K	12/22	0.23 mi	Flat 94, Nisbet House, Homerton High Street, London, Greater London E9 6AN	-	-	2	Flat
£368.1K	02/21	0.24 mi	31b - 31c, Brookfield Road, Hackney, London, Greater London E9 5AH	-	-	2	Flat
£592K	05/23	0.24 mi	31a, Brookfield Road, Hackney, London, Greater London E9 5AH	£9,573	62	2	Flat
£420K	06/23	0.31 mi	Flat 288, Banister House, Homerton High Street, London, Greater London E9 6BS	-	-	2	Flat
£530K	04/23	0.31 mi	Ground Floor Flat, 1, Kemeys Street, London, Greater London E9 5RQ	£10,192	52	2	Flat
£422K	03/21	0.32 mi	7, Pickering Close, London, Greater London E9 7AW	£8,115	52	2	Flat
£483.5K	12/20	0.32 mi	1, Pickering Close, London, Greater London E9 7AW	£8,195	59	2	Flat
£430K	05/21	0.33 mi	Flat 16, Salisbury Court, Mabley Street, London, Greater London E9 5RW	-	-	2	Flat
£451K	01/23	0.34 mi	Flat 25, Priory Court, Brooksby's Walk, London, Greater London E9 6DG	-	-	2	Flat
£475K	11/20	0.34 mi	Flat 8, Salisbury Court, Mabley Street, London, Greater London E9 5RW	-	-	2	Flat
£400K	07/21	0.35 mi	Flat 42, Chelsfield Point, Penshurst Road, London, Greater London E9 7DY	-	-	2	Flat
£470K	01/21	0.38 mi	Flat 80, Scotney House, Mead Place, London, Greater London E9 6SW	-	-	2	Flat
£400K	06/21	0.4 mi	144, Mabley Street, London, Greater London E9 5RN	£6,194	65	2	Flat
£530K	12/22	0.42 mi	25, Lyneham Walk, London, Greater London E5 0HX	£6,735	79	2	Flat
£415K	03/21	0.43 mi	90, Buxhall Crescent, London, Greater London E9 5JZ	£6,792	61	2	Flat
£345K	12/22	0.44 mi	Flat 33, Exbury House, Brenthouse Road, London, Greater London E9 6PZ	-	-	2	Flat
£765.5K	01/21	0.45 mi	42a, Wetherell Road, London, Greater London E9 7DB	£8,506	90	2	Flat
£705K	12/22	0.45 mi	43a, Wetherell Road, London, Greater London E9 7DB	£7,646	92	2	Flat
£415K	08/21	0.45 mi	24, Barton Close, London, Greater London E9 6EZ	-	-	2	Flat
£425K	04/21	0.48 mi	20, Alpine Grove, London, Greater London E9 7SX	£8,860	48	2	Flat
£440K	12/20	0.48 mi	19, Alpine Grove, London, Greater London E9 7SX	£7,391	60	2	Flat
£368K	08/23	0.48 mi	14, Shalbourne Square, London, Greater London E9 5JN	£6,815	54	2	Flat
£530K	10/20	0.5 mi	36b, Adley Street, London, Greater London E5 0DY	£7,465	71	2	Flat
£550K	02/21	0.5 mi	3, Adley Street, London, Greater London E5 0DY	£7,746	71	2	Flat
£825K	06/21	0.5 mi	6b, Southborough Road, London, Greater London E9 7EF	£12,692	65	2	Flat
£390K	11/20	0.55 mi	Flat 19, Charles Burton Court, Ashenden Road, London, Greater London E5 0DU	-	-	2	Flat
£407.5K	11/20	0.55 mi	Flat 20, Egbert House, Homerton Road, London, Greater London E9 5QF	-	-	2	Flat
£740K	03/23	0.56 mi	Unit B, 1a, Connor Street, London, Greater London E9 7LG	-	-	2	Flat
£390K	05/21	0.57 mi	Flat 4, Valette House, Valette Street, London, Greater London E9 6NX	-	-	2	Flat
£524K	04/23	0.58 mi	21a, Meeson Street, London, Greater London E5 0EA	-	-	2	Flat
£612K	03/21	0.58 mi	5c, Dunlace Road, London, Greater London E5 0NF	-	-	2	Flat
£260K	04/21	0.58 mi	Flat 5, Georgian Court, Park Close, London, Greater London E9 7TW	-	-	2	Flat
£420K	05/21	0.59 mi	Flat 15, Regency Court, Park Close, London, Greater London E9 7TP	-	-	2	Flat
£389K	07/21	0.59 mi	Flat 23, Regency Court, Park Close, London, Greater London E9 7TP	-	-	2	Flat
£390K	01/23	0.6 mi	Flat 28, Watermead House, Homerton Road, London, Greater London E9 5RS	-	-	2	Flat
£686K	06/21	0.6 mi	10b, Dunlace Road, London, Greater London E5 0NE	-	-	2	Flat
£328.5K	02/21	0.61 mi	Flat 17, Kingsmead House, Homerton Road, London, Greater London E9 5QH	-	-	2	Flat
£350K	02/21	0.64 mi	78, Berkshire Road, London, Greater London E9 5LU	-	-	2	Flat
£950K	04/21	0.65 mi	4, Sylvester Path, London, Greater London E8 1EN	-	-	2	Flat
£495K	11/20	0.67 mi	68, Tryon Crescent, London, Greater London E9 7RY	£6,671	74	2	Flat
£300K	04/21	0.67 mi	Flat 12, Edred House, Homerton Road, London, Greater London E9 5PN	-	-	2	Flat
£715K	03/21	0.68 mi	3, Gould Terrace, London, Greater London E8 1JX	£13,000	55	2	Flat
£760K	03/23	0.69 mi	217, Graham Road, London, Greater London E8 1PE	£7,755	98	2	Flat

Local Rents

54 rents from £1.5K/mo to £8.9K/mo, average is £2.3K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,225	12/24	0.01 mi	-	2	Flat
£2,195	04/24	0.04 mi	Bradstock Road, London, E9	2	Flat
£2,350	04/24	0.07 mi	The Science Block, 7 Bradstock Road	2	Flat
£3,750	05/24	0.07 mi	Bramshaw Road, Hackney, London, E9	2	Flat
£2,250	03/24	0.08 mi	Bramshaw Road, Hackney	2	Flat
£3,575	03/24	0.09 mi	Bramshaw Road, Hackney, London, E9	2	Flat
£3,175	03/25	0.09 mi	-	2	Flat
£2,037	04/24	0.1 mi	Wick Road, Hackney, Homerton, London, E9 5AN	2	Flat
£2,015	05/24	0.11 mi	Musgrove House, Hassett Road, Homerton, Hackney Central, London, E9 5SP	2	Flat
£2,200	03/24	0.12 mi	Ballance Road, London, E9	2	Terraced House
£2,250	02/25	0.16 mi	-	2	Flat
£2,300	04/24	0.16 mi	Gascoyne House E9	2	Flat
£1,500	04/25	0.16 mi	-	2	Flat
£3,100	04/24	0.17 mi	-	2	Terraced House
£3,200	03/24	0.17 mi	Hassett Road, London, E9	2	Terraced House
£2,200	01/25	0.18 mi	-	2	Flat
£2,100	03/24	0.2 mi	Homerton High Street, Hackney, London	2	Flat
£2,150	02/25	0.2 mi	-	2	Flat
£2,000	04/24	0.2 mi	Homerton High Street, London	2	Flat
£2,000	04/24	0.2 mi	Homerton High Street, London	2	Flat
£2,500	02/25	0.21 mi	-	2	Flat
£5,000	04/24	0.21 mi	Valentine Road, London, E9	2	Terraced House
£2,250	03/25	0.21 mi	-	2	Flat
£1,875	12/24	0.22 mi	-	2	Flat
£2,300	03/24	0.22 mi	Kenworthy Road, Hackney, London, E9	2	Flat
£2,100	02/25	0.23 mi	-	2	Flat
£2,100	02/25	0.23 mi	-	2	Flat
£2,149	03/24	0.23 mi	Mackintosh Lane E9	2	Flat
£1,998	04/24	0.24 mi	Nisbet House, Homerton High Street, Hackney, E9	2	Flat
£1,998	04/24	0.24 mi	Nisbet House, Homerton High Street, Hackney, E9	2	Flat
£2,600	03/24	0.24 mi	Brookfield Road, Victoria Park, London, E9	2	Flat
£2,300	02/25	0.25 mi	-	2	Flat
£2,600	04/24	0.25 mi	Brookfield Road, London, E9	2	Flat
£2,600	04/24	0.25 mi	Brookfield Road, London, E9	2	Flat
£2,150	04/24	0.26 mi	Mackintosh Lane, London, E9	2	Flat
£2,980	03/25	0.26 mi	-	2	Flat
£2,050	04/25	0.27 mi	-	2	Flat
£8,883	03/24	0.27 mi	Mabley Street, London, E9	2	Flat
£2,200	03/25	0.28 mi	-	2	Flat
£2,250	04/25	0.28 mi	-	2	Flat
£2,100	03/25	0.28 mi	-	2	Flat
£3,300	05/24	0.28 mi	-	2	Flat
£2,700	02/25	0.28 mi	-	2	Flat
£2,550	12/24	0.28 mi	-	2	Flat
£2,500	04/24	0.28 mi	Hamella House, 7 Sadler Place, Homerton, Hackney, E9	2	Flat
£2,500	04/24	0.28 mi	Hamella House, 7 Sadler Place, Homerton, Hackney, E9	2	Flat
£2,500	04/24	0.28 mi	Hamella House, 7 Sadler Place, Homerton, Hackney, E9	2	Flat
£2,350	03/24	0.29 mi	Bushberry Road, Hackney	2	House
£2,150	03/24	0.29 mi	a Mabley Street, London	2	Flat
£2,400	03/24	0.31 mi	Pickering Close, London, E9	2	Flat
£2,396	03/24	0.32 mi	Collent Street, Hackney	2	Flat
£2,900	04/25	0.32 mi	-	2	Flat
£2,500	03/24	0.33 mi	Collent Street, Hackney, London, E9	2	Flat
£4,000	03/25	0.33 mi	-	2	Semi-Detached House

Local Area Statistics

Population in E9	38,23638,236
Population in London	4,771,9214,771,921
Town centre distance	3 miles away3 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.20 miles away0.20 miles away

Rental demand	Landlord's marketLandlord's market
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+16%+16%

Property History

Listed for £250,000

January 2, 2025

Floor Plans

Description

VIEWINGS AVAILABLE NOW +
CASH BUYERS ONLY +
LONDON SKYLINE VIEW +
SPLIT LEVEL WITH PRIVATE BALCONY +
MODERNISATION REQUIRED +
OVER 9% YIELD +
CLOSE TO VICTORIA PARK / WELL STREET +
CHAIN FREE +

CASH BUYERS ONLY (no mortgages)...

Located extremely close to Victoria Park and Well Street Common, set on the 5th and 6th floors of a purpose built development, this spacious, duplex, two bedroom flat will appeal to a variety of cash buyers, whether for investment or to live in, whilst being walking distance to acclaimed parks, well-loved amenities and excellent transport links throughout the City and afar.

The entrance level of this flat comprises of a porch, kitchen and a separate spacious living room / diner leading to a well sized balcony with stunning views across both London City and Canary Wharf including buildings such as The Gherkin and The Shard. The upper floor of this apartment comprises two large double bedrooms with a bathroom and separate W/C between. Other benefits include concierge service, lift access, far reaching views from all windows and it would be a lovely purchase for a cash buyer to live in or bring in a great rental income – after modernising first. It is beautifully located close to Victoria Park and Well Street Common, ever popular for dog walks, and variety of sports activities. Amenities are located nearby and offer an excellent variety of independent and large chain stores, cafes, pubs, bars, coffee shops and restaurants. Homerton Station is a 0.2 miles walk away with great transport links throughout the City. PLEASE NOTE: This property is only suitable for cash buyers. This means buyers who are getting a mortgage will not be able to proceed.

RENTAL INCOME EXPECTED OF OVER £2,000 PER MONTH ONCE MODERNISED. YIELD OF OVER 9% EXPECTED This property is being sold as part of the administration of an estate, meaning that it is a probate property. It is sold as seen and the sellers will not be able to answer queries asked. Lease: TBC Ground Rent: £9 per annum Service Charge: TBC

Agent Details

bigmove estate agents, Hackney

020 3897 1949

Next Steps?

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

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