3 Bed Bungalow, Refurb/BRRR, Bromley, BR1 5DQ, £525,000

Ridgeway Drive, Bromley, BR1 5DQ - 2 views - 2 months ago

Refurb/BRRR
Planning
ROI: 1%
~93 m²
+7 photos

ValuationOvervalued

Sold Prices£350K - £675K
Sold Prices/m²£4.1K/m² - £12K/m²

 

 

Square Metres

~93 m²
Price/m²£5.6K/m²

Value Estimate

£486,379

 

 

End Value (After Refurb)

£520,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£131,250

Stamp Duty & Legal Fees

£41,200

Refurb Costs

£49,200

Bridging Loan Interest

£13,781

Total Cash In

£237,181

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£520,000

Mortgage (After Refinance)

£390,000

Mortgage LTV

75%

Cash Left In

£237,181

Equity

£130,000

Rent Range

£1,700 - £3,000

Rent Estimate

£2,193

Running Costs/mo

£2,084

Cashflow/mo

£109

Cashflow/yr

£1,313

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £350K to £675K, average is £486.8K. £4.1K/m² to £12K/m², average is £5.5K/m².

PriceDateDistanceAddressBeds 
£455K06/210.03 mi31, Ridgeway Drive, Bromley, Greater London BR1 5DG3
£455K06/210.03 mi31, Ridgeway Drive, Bromley, Greater London BR1 5DG3
£525K07/230.05 mi21, Treewall Gardens, Bromley, Greater London BR1 5BT3
£487.5K06/230.09 mi24, Broadlands Road, Bromley, Greater London BR1 5DE3
£500K09/210.15 mi130, Ridgeway Drive, Bromley, Greater London BR1 5DD3
£495K01/210.15 mi111, Ridgeway Drive, Bromley, Greater London BR1 5DB3
£607.5K11/220.15 mi137, Ridgeway Drive, Bromley, Greater London BR1 5DB3
£595K07/230.16 mi35, Chatsworth Avenue, Bromley, Greater London BR1 5DP3
£495K01/210.16 mi23, Chatsworth Avenue, Bromley, Greater London BR1 5DP3
£490K11/200.16 mi20, Chatsworth Avenue, Bromley, Greater London BR1 5DP3
£485K09/210.17 mi33, Welbeck Avenue, Bromley, Greater London BR1 5DN3
£580K03/210.18 mi79, Oak Tree Gardens, Sundridge, Bromley, Greater London BR1 5BE3
£456K12/220.18 mi416, Baring Road, London, Greater London SE12 0EF3
£670K11/220.19 mi68, Oak Tree Gardens, Sundridge, Bromley, Greater London BR1 5BG3
£640K10/220.2 mi179, Burnt Ash Lane, Bromley, Greater London BR1 5DJ3
£465K04/210.2 mi45, Powster Road, Bromley, Greater London BR1 5HE3
£560K09/210.2 mi5, Powster Road, Bromley, Greater London BR1 5HE3
£530K10/230.2 mi49, Powster Road, Bromley, Greater London BR1 5HE3
£361.1K12/210.21 mi8, Galahad Road, Bromley, Greater London BR1 5DT3
£435K11/200.22 mi91, Geraint Road, Bromley, Greater London BR1 5DU3
£415K12/200.23 mi6, Woodbury Gardens, London, Greater London SE12 0ED3
£440K12/200.23 mi2, Woodbury Gardens, London, Greater London SE12 0ED3
£530K10/220.25 mi43, Powster Road, Bromley, Greater London BR1 5HE3
£436.9K04/210.25 mi73, Portland Road, Bromley, Greater London BR1 5BB3
£455K02/230.26 mi28, Portland Road, Bromley, Greater London BR1 5BD3
£675K11/220.28 mi144, Ridgeway Drive, Bromley, Greater London BR1 5BX3
£525K12/200.28 mi181, Ridgeway Drive, Bromley, Greater London BR1 5BX3
£560K02/210.29 mi2, Kynaston Road, Bromley, Greater London BR1 5AL3
£525K01/210.29 mi130, Amblecote Road, London, Greater London SE12 9TS3
£507.5K03/210.3 mi19, Thornton Road, Bromley, Greater London BR1 5AP3
£580K04/230.31 mi47, Leamington Avenue, Bromley, Greater London BR1 5BJ3
£480K04/230.31 mi73, Gareth Grove, Bromley, Greater London BR1 5EG3
£480K05/230.33 mi69, Hillcrest Road, Bromley, Greater London BR1 4SA3
£430K03/210.33 mi96, Mayeswood Road, London, Greater London SE12 9RU3
£403K12/200.34 mi85, Mayeswood Road, London, Greater London SE12 9RZ3
£486K05/230.35 mi96, Hillcrest Road, Bromley, Greater London BR1 4SD3
£515K03/230.35 mi76, Hillcrest Road, Bromley, Greater London BR1 4SD3
£475K02/230.35 mi46, Mayeswood Road, London, Greater London SE12 9RP3
£450K03/230.36 mi9, Mayeswood Road, London, Greater London SE12 9RR3
£350K01/210.36 mi21, Mayeswood Road, London, Greater London SE12 9RR3
£557K06/210.36 mi57, Chinbrook Road, London, Greater London SE12 9TT3
£388K06/210.37 mi4, Roseveare Road, London, Greater London SE12 9RY3
£453K07/230.37 mi44, Hillcrest Road, Bromley, Greater London BR1 4SB3
£444K01/210.37 mi58, Hillcrest Road, Bromley, Greater London BR1 4SB3
£492K12/200.37 mi8, Hillcrest Road, Bromley, Greater London BR1 4SB3
£408K04/230.38 mi17, Ryder Close, Bromley, Greater London BR1 5AH3
£435.5K06/210.38 mi28, Claybridge Road, London, Greater London SE12 9QU3
£520K02/210.39 mi90, Kynaston Road, Bromley, Greater London BR1 5AW3
£582K02/230.39 mi27, Kynaston Road, Bromley, Greater London BR1 5AN3
£427.8K05/210.39 mi11, Hillcrest Road, Bromley, Greater London BR1 4RX3

Local Rents

39 rents from £1.7K/mo to £3K/mo, average is £2.2K/mo.

RentDateDistanceAddressBeds 
£2,25009/240.1 mi-3
£2,85008/240.11 miArcane Mews, London3
£2,50003/240.16 miChatsworth Avenue, Bromley, BR13
£2,40001/240.16 mi-3
£2,50012/240.16 mi-3
£2,20001/250.18 mi-3
£2,60004/250.18 mi-3
£2,35003/250.18 mi-3
£1,70003/240.2 miPowster Road, Bromley. BR13
£2,00003/240.25 miPortland Road Bromley BR13
£2,40004/250.29 mi-3
£2,00003/240.31 miLeamington Avenue, Bromley, BR13
£2,00003/240.33 mi-3
£1,95008/240.35 miMayeswood Road, Grove Park, SE123
£2,15008/240.36 miLeafy Oak Road, Grove Park, London, SE123
£2,50002/250.36 mi-3
£2,00002/250.38 mi-3
£2,15008/240.39 mi-3
£2,15008/240.39 miLeafy Oak Road, Grove Park3
£2,00008/240.4 miCobland Road London SE123
£2,30012/240.41 mi-3
£3,00008/240.42 miLe May Avenue London SE123
£2,40008/240.42 miLe May Avenue, London, SE123
£2,34012/240.44 mi-3
£2,20008/240.48 miMarvels Lane, Lee, London, SE123
£1,95003/240.5 miNorthover, Bromley, BR13
£2,15003/240.52 miAutumn Grove, BROMLEY, BR13
£1,79501/250.52 mi-3
£1,85004/250.52 mi-3
£1,85008/240.52 miCharlesfield, London, SE93
£2,20012/240.55 mi-3
£2,20012/240.55 mi-3
£2,50008/240.56 miDunkery Road, Mottingham, SE93
£2,20008/240.59 miMarvels Lane London SE123
£2,30002/240.59 mi-3
£2,00002/240.6 mi-3
£2,00003/240.6 miPendragon Road, Bromley3
£1,75012/240.61 mi-3
£2,20012/240.62 mi-3

Local Area Statistics

Population in BR1

55,931

Population in Bromley

55,947

Town centre distance

1.79 miles away

Nearest school

0.30 miles away

Nearest train station

0.26 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Balanced market

Capital growth (5yrs)

+17%

Property History

Listed for £525,000

March 2, 2025

Floor Plans

Description

  • Central Heating +
  • Chain-Free +
  • Council Tax Band D +
  • Double Glazed +
  • Family bathroom +
  • Gas central heating +
  • Good size garden +
  • Off street parking +
  • Popular Location within easy reach of town centre and public transport +
  • Potential to extend subject to planning permission +

This spacious property offers an excellent opportunity for those looking to put their own stamp on a home.

Featuring a bright spacious lounge with direct access to the garden, kitchen, family bathroom, a utility room with WC, and plenty of off-street parking, this home offers ample space.

The large garden with decked area provides lovely outdoor space, perfect for relaxing or entertaining.

Situated close to public transport it is ideally located for commuting into London and local towns.

It is in need of some improvement but already offers a warm and comfortable environment to call home.

Don't miss out on this fantastic opportunity to unlock the full potential of this property!

Council Tax Band: D
Tenure: Freehold
EPC Band D
Tenure: Freehold
Property type: Bungalow
Property construction: Standard form
Solar Panels: No
Other electricity sources: No
Mobile coverage: O2 - Good, Vodafone - Great, Three - Good, EE - Good
Building safety issues: No
Restrictions - Listed Building: No
Restrictions - Conservation Area: No
Restrictions - Tree Preservation Orders: None
Public right of way: No
Long-term area flood risk: No
Coastal erosion risk: No
Planning permission issues: No
Accessibility and adaptations: None
Coal mining area: No

All information is provided without warranty. Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.

The information contained is intended to help you decide whether the property is suitable for you. You should verify any answers which are important to you with your property lawyer or surveyor or ask for quotes from the appropriate trade experts: builder, plumber, electrician, damp, and timber expert.

Agent Details

David James, Property Sales, Letting & Management, Bromley

020 8016 3686

Next Steps?

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