2 Bed Flat, Single Let, London, SE17 2NJ, £400,000

Merrow Street, London, SE17 2NJ - 2 views - 3 months ago

Leasehold

BTL

ROI: 2%

~68 m²

+8 photos

ValuationUndervalued

Sold Prices	£180K - £650K
Sold Prices/m²	£5.6K/m² - £10K/m²

Square Metres	~68.11 m²
Price/m²	£5.9K/m²
Value Estimate	£490,630£490,630
BMV	23%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£100,000£100,000
Stamp Duty & Legal Fees	£20,700£20,700
Total Cash In	£120,700£120,700

Cash Out
Rent Range	£1,850 - £3,650£1,850 - £3,650
Rent Estimate	£1,898
Running Costs/mo	£1,650£1,650
Cashflow/mo	£248£248
Cashflow/yr	£2,981£2,981
ROI	2%2%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £180K to £650K, average is £392.5K. £5.6K/m² to £10K/m², average is £6.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£500K	01/21	0.02 mi	Flat 4, Spectrum Place, Lytham Street, London, Greater London SE17 2GP	-	-	2	Flat
£325K	12/20	0.05 mi	Flat 44, St. Peters House, Queens Row, London, Greater London SE17 2PU	-	-	2	Flat
£330K	03/23	0.06 mi	Flat 17, St. Johns House, Lytham Street, London, Greater London SE17 2PW	-	-	2	Flat
£640K	06/21	0.15 mi	9, Portland Street, London, Greater London SE17 2PF	£10,002	64	2	Flat
£426K	10/21	0.21 mi	29, Langdale Close, London, Greater London SE17 3UF	£7,607	56	2	Flat
£370K	02/21	0.21 mi	34, Langdale Close, London, Greater London SE17 3UF	£6,727	55	2	Flat
£425K	01/23	0.23 mi	166a, Trafalgar Street, London, Greater London SE17 2TP	£7,203	59	2	Flat
£335K	02/23	0.25 mi	26, Pilton Place, London, Greater London SE17 1DN	£5,877	57	2	Flat
£475K	10/21	0.26 mi	66, Wooler Street, London, Greater London SE17 2EF	£8,636	55	2	Flat
£387.5K	07/21	0.27 mi	Flat 18, Pascall House, Draco Street, London, Greater London SE17 3HP	-	-	2	Flat
£382K	07/23	0.27 mi	Flat 2, Penrose House, Penrose Street, London, Greater London SE17 3DU	-	-	2	Flat
£500K	06/21	0.28 mi	16b, Urlwin Street, London, Greater London SE5 0NF	£7,250	69	2	Flat
£425K	08/23	0.29 mi	Flat 19, Eglington Court, Lorrimore Road, London, Greater London SE17 3LY	-	-	2	Flat
£350K	03/21	0.29 mi	203, Olney Road, London, Greater London SE17 3HT	£5,645	62	2	Flat
£588.2K	12/20	0.3 mi	55, Carter Street, London, Greater London SE17 3EN	£9,337	63	2	Flat
£475K	11/20	0.31 mi	86c, Grosvenor Terrace, London, Greater London SE5 0NW	£6,884	69	2	Flat
£512K	04/23	0.32 mi	11, Borrett Close, London, Greater London SE17 3JF	£5,689	90	2	Flat
£325K	06/21	0.38 mi	Flat 79, Dawes House, Orb Street, London, Greater London SE17 1RD	-	-	2	Flat
£360K	06/21	0.38 mi	Flat 57, Dawes House, Orb Street, London, Greater London SE17 1RD	-	-	2	Flat
£362K	12/20	0.38 mi	Flat 25, Dawes House, Orb Street, London, Greater London SE17 1RE	-	-	2	Flat
£597K	12/20	0.38 mi	1b, Grosvenor Park, London, Greater London SE5 0NQ	£9,950	60	2	Flat
£390K	04/23	0.4 mi	15c, Southampton Way, London, Greater London SE5 7SW	£6,393	61	2	Flat
£650K	07/23	0.42 mi	128a, Grosvenor Terrace, London, Greater London SE5 0NL	£7,843	83	2	Flat
£450K	07/23	0.42 mi	28a, Berryfield Road, London, Greater London SE17 3QE	-	-	2	Flat
£190K	12/20	0.42 mi	Flat 66, Masterman House, Elmington Estate, London, Greater London SE5 7HX	-	-	2	Flat
£617.5K	11/20	0.43 mi	115b, Grosvenor Park, London, Greater London SE5 0NJ	£8,125	76	2	Flat
£624K	03/21	0.43 mi	115a, Grosvenor Park, London, Greater London SE5 0NJ	£9,905	63	2	Flat
£540K	11/20	0.45 mi	38, Fleming Road, London, Greater London SE17 3QR	£6,585	82	2	Flat
£330K	09/23	0.45 mi	81, Rodney Road, London, Greater London SE17 1RF	£6,346	52	2	Flat
£440K	02/23	0.46 mi	Flat 12, Suffield House, Alberta Estate, London, Greater London SE17 3QB	-	-	2	Flat
£465K	06/21	0.47 mi	149, Hillingdon Street, London, Greater London SE17 3JH	£5,649	82	2	Flat
£365K	03/23	0.48 mi	Flat 23, Knight House, Huntsman Street, London, Greater London SE17 1QN	-	-	2	Flat
£430K	02/21	0.49 mi	1, Salisbury Close, London, Greater London SE17 1BY	£6,719	64	2	Flat
£420K	06/23	0.49 mi	Flat 135, Edmund House, Doddington Grove, London, Greater London SE17 3TA	-	-	2	Flat
£365K	03/23	0.5 mi	Flat 19, Cameron House, Comber Grove, London, Greater London SE5 0UJ	-	-	2	Flat
£585K	06/21	0.52 mi	4, Ambergate Street, London, Greater London SE17 3RX	-	-	2	Flat
£285K	09/21	0.52 mi	Flat 14, Brawne House, Brandon Estate, London, Greater London SE17 3PJ	-	-	2	Flat
£390K	09/21	0.52 mi	Flat 269, Irving House, Doddington Grove, London, Greater London SE17 3TS	-	-	2	Flat
£395K	05/21	0.53 mi	34, Marlborough Close, London, Greater London SE17 3AP	£6,930	57	2	Flat
£285K	02/21	0.54 mi	Flat 28, Cornish House, Brandon Estate, London, Greater London SE17 3PE	-	-	2	Flat
£265K	09/21	0.54 mi	Flat 40, Cornish House, Brandon Estate, London, Greater London SE17 3PE	-	-	2	Flat
£355K	06/21	0.55 mi	143f, Cooks Road, London, Greater London SE17 3NS	£6,339	56	2	Flat
£470K	11/20	0.56 mi	139d, Chatham Street, London, Greater London SE17 1PA	£7,220	65	2	Flat
£380K	04/23	0.57 mi	Flat 8, Dekker House, Elmington Estate, London, Greater London SE5 7QR	-	-	2	Flat
£275K	04/21	0.57 mi	Flat 15, Walters House, Otto Street, London, Greater London SE17 3PG	-	-	2	Flat
£410K	02/21	0.58 mi	41, Hopewell Yard, London, Greater London SE5 7QS	-	-	2	Flat
£445K	03/21	0.58 mi	28, Hopewell Yard, London, Greater London SE5 7QS	-	-	2	Flat
£180K	05/21	0.58 mi	Flat 22, Bateman House, Otto Street, London, Greater London SE17 3PF	-	-	2	Flat
£180K	05/21	0.58 mi	Flat 22, Bateman House, Otto Street, London, Greater London SE17 3PF	-	-	2	Flat
£280K	12/20	0.59 mi	Flat 23, Arnot House, Comber Grove, London, Greater London SE5 0LA	-	-	2	Flat

Local Rents

48 rents from £1.9K/mo to £3.6K/mo, average is £2.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,850	08/24	0.02 mi	Queens Row, London, SE17	2	Flat
£1,850	08/24	0.04 mi	Walworth Road Walworth SE17	2	Flat
£2,300	08/24	0.05 mi	Horsley Street London SE17	2	Flat
£3,650	08/24	0.06 mi	Walton Heights, Elephant & Castle	2	Flat
£2,400	08/24	0.07 mi	Petram House, Walworth, London, SE17	2	Flat
£2,000	08/24	0.08 mi	Merrow Street, London, SE17 2NW	2	Flat
£1,993	08/24	0.1 mi	Westmoreland Road, SE17	2	Flat
£2,150	08/24	0.1 mi	Saltwood Grove, London	2	Flat
£2,253	08/24	0.11 mi	Empress Street, London, SE17	2	Flat
£2,400	12/24	0.11 mi	-	2	Flat
£2,600	01/25	0.11 mi	-	2	Flat
£3,500	01/25	0.11 mi	-	2	Flat
£2,200	03/25	0.11 mi	-	2	Flat
£2,400	03/25	0.11 mi	-	2	Flat
£2,400	02/25	0.11 mi	-	2	Flat
£2,400	03/25	0.11 mi	-	2	Flat
£2,300	03/25	0.11 mi	-	2	Flat
£2,500	04/25	0.11 mi	-	2	Flat
£2,290	04/25	0.12 mi	-	2	Flat
£1,898	08/24	0.12 mi	Phelp Street, London, SE17	2	Terraced House
£2,450	08/24	0.13 mi	Boyson Road Kennington SE17	2	Flat
£2,350	01/25	0.14 mi	-	2	Flat
£2,300	12/24	0.14 mi	-	2	Flat
£2,450	12/24	0.14 mi	-	2	Flat
£2,400	12/24	0.14 mi	-	2	Flat
£2,450	08/24	0.14 mi	Sondes Street, London, SE17	2	Terraced House
£3,097	08/24	0.15 mi	Park Central East	2	Flat
£3,120	08/24	0.15 mi	Park Central East	2	Flat
£2,100	08/24	0.15 mi	Camberwell Road, London, SE5	2	Flat
£2,349	12/24	0.16 mi	-	2	Flat
£2,499	12/24	0.17 mi	John Ruskin Street, London, SE5	2	Flat
£2,299	12/24	0.17 mi	-	2	Flat
£2,549	12/24	0.17 mi	-	2	Flat
£2,250	08/24	0.17 mi	15, Burton Grove, London	2	Flat
£2,500	08/24	0.18 mi	-	2	Flat
£2,500	08/24	0.18 mi	Arments Court, London, SE5	2	Flat
£2,750	08/24	0.18 mi	-	2	Flat
£2,050	12/24	0.18 mi	-	2	Flat
£2,750	08/24	0.18 mi	Albany Road, London, SE5	2	Flat
£3,050	08/24	0.19 mi	-	2	Flat
£1,950	03/25	0.19 mi	-	2	Flat
£2,250	11/23	0.19 mi	Grosvenor Terrace, London, SE5	2	Flat
£2,100	04/25	0.2 mi	-	2	Flat
£2,900	04/25	0.21 mi	-	2	Terraced House
£2,000	09/24	0.21 mi	-	2	Flat
£2,100	01/25	0.21 mi	-	2	Flat
£2,000	09/24	0.22 mi	Trafalgar Street, Elephant and Castle, SE17	2	Flat
£2,200	09/24	0.22 mi	Portland Street, SE17, Elephant and Castle, London, SE17	2	Flat

Local Area Statistics

Population in SE17	31,52231,522
Population in London	4,771,9214,771,921
Town centre distance	3.01 miles away3.01 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.59 miles away0.59 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+4%+4%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	-1%-1%

Property History

Listed for £400,000

February 4, 2025

Floor Plans

Description

Well Proportioned +
Good Decroative Order +
Ready To Move Into +
Two Double Bedrooms +
Chain Free +
Charming Building +
Cracking Location +
Energy Efficiency Rating: F +

Smart two double bedroom apartment located on a quiet side street in SE17 just off the vibrant Walworth Road.

The property benefits from a lovely semi-open plan reception room and kitchen, high ceilings, and two very generous double bedrooms, good storage and a handy separate cupboard located in the communal hallway with washing facilities. The property has the added benefit of NO ONWARD CHAIN!

Located within easy reach of Elephant and Castle, arguably one of the most exciting areas, with its rapid growth and vast array of local trendy amenities. Access to Northern and Bakerloo Lines provide easy access into the West End & City.

Lease Length: 111 Years
Service Charge: £755 Pa
Ground Rent: £275 Pa
Council Tax Band: C
Energy Efficiency Rating: F

Agent Details

Acorn, Kennington

020 7123 8490

Next Steps?

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

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