6 Bed HMO, Ilford, IG3 8TW £700,000

Goodmayes Avenue, Ilford, IG3 8TW - 5 views - 10 months ago
Sold STC
HMO
ROI: 4%
~186 m²
Property image

ValuationUndervalued

Sold Prices£220K - £1.5M
Sold Prices/m²£1.3K/m² - £5.7K/m²

 

 

Square Metres

~186 m²
Price/m²£3.8K/m²

Value Estimate

£757,503
BMV8%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£175,000

Stamp Duty & Legal Fees

£61,200

Total Cash In

£236,200

 

 

Cash Out

 

Room Rate

£776

Gross Rent

£4,656

Running Costs/mo

£3,961

Cashflow/mo

£695

Cashflow/yr

£8,345

ROI

4%

Gross Yield

8%

Local Sold Prices

29 sold prices from £220K to £1.5M, average is £740K. £1.3K/m² to £5.7K/m², average is £4K/m².

Price
Date
Distance
Address
Beds
 
£710K01/230.05 mi10, Goodmayes Avenue, Ilford, Greater London IG3 8TW6
£831K03/250.52 mi60, Elgin Road, Seven Kings, Ilford IG3 8LN6
£680K11/240.68 mi1, Conway Crescent, Chadwell Heath, Romford RM6 4XP6
£850K03/230.72 mi136, Goodmayes Lane, Goodmayes, Ilford IG3 9PS6
£850K03/230.72 mi136, Goodmayes Lane, Goodmayes, Ilford IG3 9PS6
£900K07/250.74 mi48, Gyllyngdune Gardens, Seven Kings, Ilford IG3 9HY6
£620K04/240.75 mi22, Water Lane, Seven Kings, Ilford IG3 9HN6
£620K04/240.75 mi22, Water Lane, Seven Kings, Ilford IG3 9HN6
£850K03/230.75 mi136, Goodmayes Lane, Ilford, Greater London IG3 9PS6
£810K04/230.88 mi168, Goodmayes Lane, Ilford, Greater London IG3 9PP6
£595K09/230.92 mi177, South Park Drive, Ilford, Greater London IG3 9AD6
£627K11/211.05 mi37, Clifton Road, Ilford, Greater London IG2 7DG6
£860K08/241.07 mi45, Lancing Road, Newbury Park, Ilford IG2 7DP6
£635K01/231.12 mi8, Monarch Way, Newbury Park, Ilford, Greater London IG2 7NY6
£670K09/241.49 mi10, Cavendish Gardens, Barking IG11 9DR6
£874K03/221.54 mi23, Beccles Drive, Barking, Greater London IG11 9HX6
£725K03/251.6 mi90, Westrow Drive, Barking IG11 9BN6
£725K03/251.6 mi90, Westrow Drive, Barking IG11 9BN6
£220K03/251.62 mi107, Beccles Drive, Barking IG11 9HY6
£220K03/251.62 mi107, Beccles Drive, Barking IG11 9HY6
£740K12/241.65 mi57, Hamilton Avenue, Ilford, Greater London IG6 1AD6
£740K10/211.65 mi79, Upney Lane, Barking, Greater London IG11 9LD6
£620K12/241.81 mi20, Elstree Gardens, Ilford IG1 2QQ6
£1.5M01/251.87 mi4, Holcombe Road, Ilford IG1 4XE6
£1.5M01/251.87 mi4, Holcombe Road, Ilford IG1 4XE6
£275.3K11/211.87 mi32, Aldersey Gardens, Barking, Greater London IG11 9UQ6
£987.5K01/231.91 mi17, Cavendish Gardens, Ilford, Greater London IG1 3EA6
£1.1M08/231.91 mi12, The Drive, Ilford, Greater London IG1 3HT6
£958K11/211.95 mi22, Brandville Gardens, Ilford, Greater London IG6 1JF6

Local Area Statistics

Population in IG3

35,543

Population in Ilford

181,468

Town centre distance

1.36 miles away

Nearest school

0.10 miles away

Nearest train station

0.09 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+28%

Property History

Price changed to £700,000

February 16, 2025

Listed for £750,000

January 21, 2025

Floor Plans

Property image

Description

  • Cellar +
  • Chain Free +
  • Character Property +
  • Crossrail +
  • Driveway +
  • Garage +
  • High Ceilings +
  • Location +
  • Spacious +

* Guide Price: £700,000 - £750,000

Location! Location! Location! & Space!

A fantastic location, a few minutes walk to Goodmayes Station on the Elizabeth Line and close to many shops such as Tesco Extra, places of worship like the Singh Sabha London East Gurdwara and the Eman Foundation Mosque, Goodmayes High Rd has a variety of restaurants and takeaways. Everything is pretty much withing walking distance.

This property will suit a large family or maybe someone looking for a HMO opportunity or maybe to change its use to a nursery or care home.

The property has been extended to the rear and the side. It has a good layout, six bedrooms and 3 washroom facilities. 3 reception areas. The internal garage is great for safe storage of your car, there is also a workshop to the rear garden that could be used in a variety of ways, not to forget the cellar and ample loft space as well .

You really need to view the pics, floorplan and our virtual walk through to understand how big the property is. Then contact us to book a viewing.

Council Tax Band: D (LB Redbridge)
Tenure: Freehold

Agent Details

Highcastle Estates, Ilford

024 7542 6094

Next Steps?

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