2 Bed Semi-Detached House, Refurb/BRRR, Woodford Green, IG8 8NH, £300,000

Vicarage Road, Woodford Green, Essex, IG8 8NH - 1 views - 2 months ago

Sold STC
Auction
Refurb/BRRR
ROI: 2%
~68 m²
+1 photos

ValuationUndervalued

Sold Prices£340K - £670K
Sold Prices/m²£4K/m² - £9.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.4K/m²

Value Estimate

£363,600
BMV1%

 

 

End Value (After Refurb)

£403,737

Uplift in Value

+12%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£17,500

Refurb Costs

£36,033

Bridging Loan Interest

£7,875

Total Cash In

£138,158

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£403,737

Mortgage (After Refinance)

£302,803

Mortgage LTV

75%

Cash Released

£77,803

Cash Left In

£60,355

Equity

£100,934

Rent Range

£1,450 - £4,000

Rent Estimate

£1,949

Running Costs/mo

£1,671

Cashflow/mo

£278

Cashflow/yr

£3,330

ROI

2%

Gross Yield

8%

Local Sold Prices

50 sold prices from £340K to £670K, average is £452.5K. £4K/m² to £9.6K/m², average is £6.3K/m².

PriceDateDistanceAddressBeds 
£500K07/230.21 mi15, Canfield Road, Woodford Green, Greater London IG8 8JL2
£445K12/220.21 mi134, Uplands Road, Woodford Green, Greater London IG8 8JW2
£400K06/210.23 mi135, Uplands Road, Woodford Green, Greater London IG8 8JP2
£455K03/210.24 mi14, Uplands Road, Woodford Green, Greater London IG8 8JN2
£422K02/210.24 mi62, Uplands Road, Woodford Green, Greater London IG8 8JN2
£437.5K03/210.26 mi5, Roding Avenue, Woodford Green, Greater London IG8 8HZ2
£360K03/210.42 mi11, Rose Tree Mews, Woodford Green, Greater London IG8 8GJ2
£565K05/230.47 mi35, Atherton Road, Ilford, Greater London IG5 0PF2
£340K02/210.49 mi8, Hookstone Way, Woodford Green, Greater London IG8 7LF2
£340K02/210.49 mi8, Hookstone Way, Woodford Green, Greater London IG8 7LF2
£392K01/230.49 mi47, Hookstone Way, Woodford Green, Greater London IG8 7LF2
£410K07/230.51 mi26, Latchingdon Gardens, Woodford Green, Greater London IG8 8EA2
£390K03/210.51 mi26, Latchingdon Gardens, Woodford Green, Greater London IG8 8EA2
£420K01/230.51 mi23, Latchingdon Gardens, Woodford Green, Greater London IG8 8EA2
£365K09/210.52 mi49, Underwood Road, Woodford Green, Greater London IG8 7LD2
£361K06/210.52 mi43, Underwood Road, Woodford Green, Greater London IG8 7LD2
£355K12/200.55 mi15, Goldhaze Close, Woodford Green, Greater London IG8 7LE2
£430K02/210.59 mi28, Cheriton Avenue, Ilford, Greater London IG5 0QN2
£450K01/210.63 mi5, Caterham Avenue, Ilford, Greater London IG5 0QA2
£420K04/230.64 mi81, Caterham Avenue, Ilford, Greater London IG5 0QB2
£495K02/210.67 mi6, Brunel Road, Woodford Green, Essex IG8 8BE2
£465K01/210.69 mi22, Smeaton Road, Woodford Green, Essex IG8 8BD2
£450K06/210.69 mi45, Smeaton Road, Woodford Green, Essex IG8 8BD2
£530K11/220.7 mi35, Portman Drive, Woodford Green, Greater London IG8 8QR2
£433.2K12/220.71 mi12, Vienna Close, Ilford, Greater London IG5 0PU2
£430K01/210.72 mi1, Wansford Road, Woodford Green, Greater London IG8 7AD2
£385K07/230.72 mi39, Lechmere Avenue, Woodford Green, Greater London IG8 8QF2
£520K01/220.72 mi37, Marlborough Drive, Ilford, Greater London IG5 0JW2
£575K08/220.73 mi13, Basildon Avenue, Clayhall, Ilford, Greater London IG5 0QE2
£375K06/210.74 mi77, Ravensbourne Gardens, Ilford, Greater London IG5 0XQ2
£422.5K03/210.74 mi33, Ray Lodge Road, Woodford Green, Greater London IG8 7NX2
£510K06/210.75 mi55, Strafford Avenue, Ilford, Greater London IG5 0TJ2
£535K10/210.75 mi251, Clayhall Avenue, Ilford, Greater London IG5 0NY2
£510K08/220.75 mi251, Maybank Road, London, Greater London E18 1ER2
£537K05/220.76 mi79, Marlands Road, Ilford, Greater London IG5 0JJ2
£495K09/220.78 mi6, Basildon Avenue, Clayhall, Ilford, Greater London IG5 0QD2
£505K07/210.82 mi17, West Grove, Woodford Green, Greater London IG8 7NS2
£510K09/210.83 mi76, West Grove, Woodford Green, Greater London IG8 7NR2
£670K06/210.83 mi114, West Grove, Woodford Green, Greater London IG8 7NP2
£590K09/210.84 mi219, Maybank Road, London, Greater London E18 1EP2
£470K06/210.85 mi14, Berkeley Avenue, Ilford, Greater London IG5 0UP2
£481K02/210.87 mi106, West Grove, Woodford Green, Greater London IG8 7NP2
£480K04/210.87 mi115, West Grove, Woodford Green, Greater London IG8 7NP2
£515K05/230.87 mi134, West Grove, Woodford Green, Greater London IG8 7NP2
£485K06/230.87 mi2, Berkeley Avenue, Ilford, Greater London IG5 0UR2
£515K09/220.87 mi268, Clayhall Avenue, Ilford, Greater London IG5 0TD2
£425K03/210.88 mi6, Tiverton Avenue, Ilford, Greater London IG5 0LA2
£567.5K12/200.9 mi152, West Grove, Woodford Green, Greater London IG8 7NW2
£560K12/220.9 mi142, West Grove, Woodford Green, Greater London IG8 7NW2
£440K10/220.9 mi136, Maybank Road, London, Greater London E18 1EL2

Local Rents

43 rents from £1.4K/mo to £4K/mo, average is £1.8K/mo.

RentDateDistanceAddressBeds 
£1,60004/240.11 miClaybury Road2
£2,65004/240.21 miGaynes Hill Road, WOODFORD GREEN, IG82
£1,90004/240.27 miUplands Road, Woodford Green, IG82
£1,75004/240.29 miOak Wood Close, Chigwell, Essex, IG82
£1,85005/240.29 miWoodford Green2
£1,85005/240.29 miWoodford Green2
£1,85005/240.29 miOak Wood Close, Chigwell, Essex, IG82
£1,45004/240.3 mi-2
£1,70005/240.33 miCopford Close, Woodford Green2
£1,85005/240.33 miOak Wood Close, Woodford Green2
£1,60004/240.39 miWoodford Green, IG82
£1,60005/240.39 miWoodford Green, IG82
£1,45001/250.41 mi-2
£1,90004/240.44 miStoneycroft Road, Chigwell, Essex, IG82
£1,90006/240.44 miWoodford Green2
£1,90012/240.44 mi-2
£2,20005/240.47 miLatchingdon Gardens, Woodford Green2
£2,10004/240.48 miThe Manor, Repton Park, Woodford Green, IG82
£2,25005/240.48 miThe Manor, Regents Drive, Woodford Green, Greater London, IG82
£2,20012/240.48 mi-2
£1,75011/230.51 mi-2
£1,80005/240.52 mi-2
£1,70006/240.52 mi-2
£1,80004/240.52 miWoodford Green, IG82
£1,70004/240.52 miWoodford Green, IG82
£2,19504/240.52 miRosebury Square, Repton Park IG82
£1,80012/240.54 mi-2
£3,80004/240.55 mi-2
£4,00002/250.55 mi-2
£1,60004/240.55 miGoldhaze Close, Woodford Green, IG82
£1,80003/250.56 mi-2
£1,60004/240.57 mi-2
£1,80004/240.57 miThurlby House, Chigwell Road, Chigwell, Essex, IG82
£2,00005/240.57 mi-2
£1,80002/240.58 miThurlby House, Chigwell Road, Woodford Green, IG82
£1,85005/240.59 mi-2
£2,10003/250.59 mi-2
£2,00012/240.59 mi-2
£1,79012/240.6 mi-2
£1,79012/240.6 mi-2
£1,75003/250.6 mi-2
£1,75012/240.61 mi-2
£1,80004/240.62 miRavensbourne Gardens, Ilford, IG52

Local Area Statistics

Population in IG8

35,894

Town centre distance

0.94 miles away

Nearest school

0.20 miles away

Nearest train station

0.93 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+27%

Sales demand

Balanced market

Capital growth (5yrs)

+12%

Property History

Price changed to £300,000

March 8, 2025

Listed for £360,000

February 12, 2025

Floor Plans

Description

  • Buyers Fees apply - see brochure for details +
  • <b>OPEN HOUSE SATURDAY 22ND FEBRUARY 2025</b> - by appointment only +
  • Large rear garden +
  • No onward chain +
  • For sale by Modern Auction – T&Cs apply +
  • Subject to an undisclosed Reserve Price +

This semi detached house will make a lovely starter home, benefiting from a driveway, large rear garden and a great location. It is in need of modernisation so this is ideal for those who want to make it their own. This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer.  
Please refer to the footnote regarding the services and appliances.

Room sizes:

  • Entrance Hall
  • Lounge: 18'7 x 10'10 (5.67m x 3.30m)
  • Kitchen: 12'2 x 7'5 (3.71m x 2.26m)
  • Landing
  • Bedroom 1: 15'4 x 9'5 (4.68m x 2.87m)
  • Bedroom 2: 12'2 x 8'11 (3.71m x 2.72m)
  • Shower Room
  • Driveway
  • Rear Garden  
    AUCTIONEER'S COMMENTS This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee, this being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £349 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change. The seller can instruct iamsold to agree a sale without a bidding process taking place or prior to a closing date. No further bids can be accepted after a buyer has paid a Reservation Fee REFERRAL ARRANGEMENTS Douglas Allen and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Douglas Allen may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you. TO VIEW OR MAKE A BID - Contact Douglas Allen _
     
    The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures & fittings and, where the property has been extended/converted, planning/building regulation consents. All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose.
     
    We are pleased to offer our customers a range of additional services to help them with moving home. None of these services are obligatory and you are free to use service providers of your choice. Current regulations require all estate agents to inform their customers of the fees they earn for recommending third party services. If you choose to use a service provider recommended by Douglas Allen, details of all referral fees can be found at the link below. If you decide to use any of our services, please be assured that this will not increase the fees you pay to our service providers, which remain as quoted directly to you.
    _

Agent Details

Douglas Allen, Woodford Green

020 3870 5619

Next Steps?

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