2 Bed Flat, Single Let, CR8 2DZ, £235,000

23a High Street, Purley, Surrey, CR8 2AF - 3 months ago

Leasehold
BTL
ROI: 7%
~65 m²
+8 photos

ValuationUndervalued

Sold Prices£202K - £352K
Sold Prices/m²£3.6K/m² - £11.7K/m²

 

 

Square Metres

~65.30 m²
Price/m²£3.6K/m²

Value Estimate

£291,400
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£58,750

Stamp Duty & Legal Fees

£15,150

Total Cash In

£73,900

 

 

Cash Out

 

Rent Range

£1,400 - £2,450

Rent Estimate

£1,450

Running Costs/mo

£1,044

Cashflow/mo

£406

Cashflow/yr

£4,868

ROI

7%

Gross Yield

7%

Local Sold Prices

24 sold prices from £202K to £352K, average is £272.6K. £3.6K/m² to £11.7K/m², average is £5.1K/m².

PriceDateDistanceAddressBeds 
£295K12/200.03 mi46, The Pines, Purley, Greater London CR8 2DZ2
£269K06/210.39 mi74, Lower Barn Road, Purley, Greater London CR8 1HR2
£245K11/200.4 mi32, Olden Lane, Purley, Greater London CR8 2EH2
£290K04/210.62 miFlat 11, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PH2
£288K09/210.65 miFlat 48, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PJ2
£300K11/220.65 miFlat 45, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PJ2
£285K11/200.65 miFlat 50, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PJ2
£272K02/230.65 miFlat 77, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PJ2
£268K12/200.66 miFlat 7, French Apartments, Lansdowne Road, Purley, Greater London CR8 2PH2
£352K12/220.72 mi4b, Valley Road, Kenley, Greater London CR8 5DG2
£273.1K12/220.85 mi30a, Purley Park Road, Purley, Greater London CR8 2BS2
£225K11/210.86 mi10, Gomshall Gardens, Kenley, Greater London CR8 5AH2
£262.5K06/210.86 mi14, Gomshall Gardens, Kenley, Greater London CR8 5AH2
£262.5K06/210.86 mi14, Gomshall Gardens, Kenley, Greater London CR8 5AH2
£260K06/210.86 mi32, Gomshall Gardens, Kenley, Greater London CR8 5AH2
£202K11/200.86 mi4, Gomshall Gardens, Kenley, Greater London CR8 5AH2
£245K02/210.86 mi3, Gomshall Gardens, Kenley, Greater London CR8 5AH2
£288.9K03/210.86 mi31, Gomshall Gardens, Kenley, Greater London CR8 5AH2
£335K11/210.93 miFlat 20, Barrards Hall, Beech Avenue, South Croydon, Greater London CR2 0NL2
£250K03/210.93 miFlat 4, Whitefield House, Whitefield Avenue, Purley, Greater London CR8 4BP2
£278K01/210.95 mi7, Hawkhirst Road, Kenley, Greater London CR8 5DN2
£285K06/210.97 mi666, Brighton Road, Purley, Greater London CR8 2BB2
£275K11/200.97 mi646, Brighton Road, Purley, Greater London CR8 2BB2
£248K07/230.97 mi648, Brighton Road, Purley, Greater London CR8 2BB2

Local Rents

33 rents from £1.4K/mo to £2.5K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,85012/240.04 miSt James Road, Croydon, Purley, CR82
£1,80012/240.04 miJoyden Apartments, Croydon, Purley, CR82
£2,00012/240.04 miSt James Road, Croydon, Purley, CR82
£1,50002/240.08 mi-2
£1,52512/240.09 mi-2
£1,49502/240.11 mi-2
£1,75012/240.13 mi2 bedroom End Terrace House in Kenley2
£1,50012/240.18 miDowns Court Road, Purley, CR82
£1,72504/250.25 mi-2
£1,60012/240.26 miRedwing Court, Purley, CR82
£1,60012/240.26 mi-2
£1,75011/240.28 mi-2
£1,40012/240.28 miPurley, Surrey2
£1,77512/240.32 miNorthwood Avenue2
£1,50012/230.33 mi-2
£1,45002/250.33 mi-2
£1,67512/240.4 miHayes Lane Kenley CR82
£1,45012/240.41 miStunning Refurbished Flat!!2
£1,58502/250.43 mi-2
£1,55002/250.44 mi-2
£1,50002/250.44 mi-2
£1,45012/240.45 miLister Court, Godstone Road, Purley, CR82
£1,90012/240.48 mi 2 Bed Split Level Flat To Let in Purley2
£1,70012/240.53 mi-2
£1,65009/240.53 mi-2
£1,70012/240.53 miKendal Court, Kenley, CR82
£2,00012/240.57 miChurch Road, Kenley, Surrey, CR82
£1,75002/240.6 mi-2
£1,70002/240.6 mi-2
£1,89511/240.6 mi-2
£2,20012/240.61 miFirs Road, KENLEY2
£2,45012/240.61 miFirs Road Kenley CR82
£2,20012/240.61 miFirs Road Kenley CR82

Local Area Statistics

Population in CR8

32,301

Nearest school

0.10 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+6%

Property History

Listed for £235,000

January 21, 2025

Floor Plans

Description

  • Chain free ground floor apartment +
  • Garage en-bloc +
  • Long lease +
  • Service charge for 2025/26 expected to be reduced +
  • Excellent location for schools, transport and amenities +
  • In need of some modernisation +
  • Large entrance hall with versatile usage +

Chain free ground floor apartment, set within the first block of the popular development, The Pines. The flat offers a generous size and lots of potential for the next owner looking to put their own stamp on the property. It is situated perfectly for nearby transport links and the addition of a garage is always useful for storage or putting the car away safely.

The property will be vacated by the end of March, ready for the new owner. The property requires some updating internally, whilst the exterior has recently undergone some required works in 2024, which resulted in a higher service charge last year. This higher figure is to be reviewed by the management company in March 2025 now the works have been completed in full. A full historic statement of the last 5 years service charge is available on request and it is expected the service charge will reduce for 2025/26.

Ground Floor -

Hallway -

Reception Room - 4.50m x 4.04m (14'9 x 13'3) -

Kitchen - 5.59m x 2.29m (18'4 x 7'6) -

Bathroom -

Bedroom 1 - 4.32m x 2.82m (14'2 x 9'3) -

Bedroom 2 - 3.76m x 2.31m (12'4 x 7'7) -

Outside -

Communal Gardens -

Garage En Bloc -

Agent Details

LOFT Estate Agents, Surrey

020 8660 8070

Next Steps?

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