3 Bed Terraced House, Refurb/BRRR, Ilford, IG1 2QH, £500,000

Vine Gardens, ILFORD, IG1 2QH - 2 views - 2 months ago

Refurb/BRRR
ROI: 2%
~93 m²
+6 photos

ValuationOvervalued

Sold Prices£207K - £580K
Sold Prices/m²£2.7K/m² - £7.4K/m²

 

 

Square Metres

~93 m²
Price/m²£5.4K/m²

Value Estimate

£438,276

 

 

End Value (After Refurb)

£472,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£125,000

Stamp Duty & Legal Fees

£32,700

Refurb Costs

£49,200

Bridging Loan Interest

£13,125

Total Cash In

£221,775

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£472,500

Mortgage (After Refinance)

£354,375

Mortgage LTV

75%

Cash Left In

£221,775

Equity

£118,125

Rent Range

£1,850 - £3,100

Rent Estimate

£2,304

Running Costs/mo

£1,957

Cashflow/mo

£347

Cashflow/yr

£4,160

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £207K to £580K, average is £410K. £2.7K/m² to £7.4K/m², average is £4.9K/m².

PriceDateDistanceAddressBeds 
£560K07/230.04 mi30, Elstree Gardens, Ilford, Greater London IG1 2QQ3
£500K01/210.05 mi42, Vine Gardens, Ilford, Greater London IG1 2QJ3
£260K03/210.08 mi17, Fairway Gardens, Ilford, Greater London IG1 2QG3
£580K12/220.1 mi2, Tylehurst Gardens, Ilford, Greater London IG1 2QL3
£350K07/230.13 mi68, Hunter Road, Ilford, Greater London IG1 2NW3
£430K02/210.14 mi23, Mortlake Road, Ilford, Greater London IG1 2SX3
£382K11/200.14 mi31, Eton Road, Ilford, Greater London IG1 2UD3
£391K11/200.14 mi69, Eton Road, Ilford, Greater London IG1 2UD3
£367.5K12/200.16 mi12, Eton Road, Ilford, Greater London IG1 2UE3
£400K05/230.17 mi458, Ilford Lane, Ilford, Greater London IG1 2NF3
£420K03/230.17 mi6, Norman Road, Ilford, Greater London IG1 2NG3
£370K10/200.22 mi41, Saxon Road, Ilford, Greater London IG1 2PB3
£360K04/210.26 mi47, Roman Road, Ilford, Greater London IG1 2NZ3
£445K11/200.27 mi34, Fairfield Road, Ilford, Greater London IG1 2JL3
£480K08/230.27 mi28, Fairfield Road, Ilford, Greater London IG1 2JL3
£410K03/210.28 mi39, Jasmine Close, Ilford, Greater London IG1 2BS3
£495K07/230.32 mi31, Staines Road, Ilford, Greater London IG1 2XA3
£207K04/230.32 mi69, Staines Road, Ilford, Greater London IG1 2XA3
£375K06/210.32 mi22, Azalea Close, Ilford, Greater London IG1 2BF3
£435K11/210.33 mi149, Hampton Road, Ilford, Greater London IG1 1PR3
£478K01/230.33 mi128, Staines Road, Ilford, Greater London IG1 2UY3
£375K08/210.34 mi2, Bluebell Way, Ilford, Greater London IG1 2JH3
£325K01/210.36 mi49, Eton Road, Ilford, Greater London IG1 2UD3
£420K11/200.38 mi69, Faircross Avenue, Barking, Greater London IG11 8QZ3
£405K03/230.39 mi57, Sandyhill Road, Ilford, Greater London IG1 2ET3
£245.6K06/210.39 mi60, Sandyhill Road, Ilford, Greater London IG1 2ET3
£425K06/230.39 mi43, Sandyhill Road, Ilford, Greater London IG1 2ET3
£350K09/210.39 mi104, Grange Road, Ilford, Greater London IG1 1EX3
£400K11/210.4 mi99, Fanshawe Avenue, Barking, Greater London IG11 8RF3
£470K01/230.4 mi168, Henley Road, Ilford, Greater London IG1 2TR3
£405K06/230.42 mi15, Thornton Road, Ilford, Greater London IG1 2ER3
£410K02/210.42 mi197, Kingston Road, Ilford, Greater London IG1 1PF3
£456K01/210.42 mi186, Kingston Road, Ilford, Greater London IG1 1PF3
£371.5K05/210.44 mi33, Harpour Road, Barking, Greater London IG11 8RJ3
£433K04/210.45 mi118, Richmond Road, Ilford, Greater London IG1 1JX3
£370K04/210.45 mi212, Gurney Close, Barking, Greater London IG11 8LB3
£420K11/200.46 mi11, Eltisley Road, Ilford, Greater London IG1 2EP3
£420K11/200.46 mi11, Eltisley Road, Ilford, Greater London IG1 2EP3
£450K03/210.46 mi29, Cecil Road, Ilford, Greater London IG1 2EW3
£365K12/200.46 mi203, Gurney Close, Barking, Greater London IG11 8JZ3
£440K02/210.47 mi55, Park Avenue, Barking, Greater London IG11 8QU3
£407K01/210.48 mi159, Windsor Road, Ilford, Greater London IG1 1HE3
£425K03/210.49 mi41, Faircross Avenue, Barking, Greater London IG11 8RD3
£425K11/200.49 mi142, Eton Road, Ilford, Greater London IG1 2UJ3
£408K02/210.5 mi9, Dore Avenue, London, Greater London E12 6JT3
£300K05/230.51 mi14, Cape Close, Barking, Greater London IG11 8NE3
£432K06/210.52 mi230, Henley Road, Ilford, Greater London IG1 2TW3
£460K11/210.52 mi275, Henley Road, Ilford, Greater London IG1 2TN3
£517.5K04/210.53 mi51, Bedford Road, Ilford, Greater London IG1 1EL3
£370K06/230.55 mi185, Grantham Road, London, Greater London E12 5NB3

Local Rents

29 rents from £1.9K/mo to £3.1K/mo, average is £2.4K/mo.

RentDateDistanceAddressBeds 
£3,00003/250.1 mi-3
£2,40003/250.15 mi-3
£2,30001/250.2 mi-3
£2,30004/240.31 miBluebell Way, Ilford3
£2,20005/240.33 miPark Avenue, Barking3
£2,20004/240.33 miBluebell Way, Ilford, Essex, IG13
£2,60002/250.34 mi-3
£2,65003/250.34 mi-3
£2,50004/250.35 mi-3
£2,00004/240.37 mi-3
£2,35004/240.39 miThornton Road, IG13
£2,70004/250.4 mi-3
£2,40012/240.41 mi-3
£3,10004/240.41 mi-3
£2,50001/250.47 mi-3
£2,00004/240.48 mi-3
£2,20012/240.5 mi-3
£2,20001/250.51 mi-3
£2,40004/240.53 mi-3
£2,20003/240.53 miBedford Road, IG13
£2,10002/250.54 mi-3
£1,85003/240.56 miBritannia Road, Ilford, IG13
£2,40012/240.56 mi-3
£2,20006/240.57 mi-3
£2,35006/240.57 mi-3
£2,20006/240.57 mi-3
£2,50003/250.57 mi-3
£2,50012/240.58 mi-3
£2,30004/240.58 miMeath Road3

Local Area Statistics

Population in IG1

63,569

Population in Ilford

181,468

Town centre distance

2.05 miles away

Nearest school

0.20 miles away

Nearest train station

0.64 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+28%

Property History

Price changed to £500,000

March 20, 2025

Listed for £550,000

February 20, 2025

Floor Plans

Description

  • Three Bathrooms +
  • Extended +
  • Through Lounge +
  • No Onward Chain +
  • First Floor Bathroom +
  • Off Street Parking +
  • 34ft Garden +

Guide Price £550,000 - £575,000. Open House Saturday 1st of March. This terraced house, currently available, offers a fantastic opportunity for both first-time buyers and investors. With its three bedrooms, one reception room, and an extended kitchen, it provides ample space for living and dining. The property is in need of modernisation, providing an ideal canvas for those looking to put their own stamp on their new home. The single bathroom accommodates the necessities; however, its potential for upgrades adds to the charm of the property. The location is noteworthy, with public transport links, local amenities, and schools in close proximity, making it a highly convenient place to live. All in all, this house offers a blend of space, potential, and a great location. It's an opportunity not to be missed for those willing to embrace a little renovation project to create their dream home or a profitable investment.

Agent Details

Payne & Co, Ilford

020 3873 8289

Next Steps?

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