2 Bed Flat, Refurb/BRRR, London, SE28 8RZ, £195,000

Redbourne Drive, London, SE28 8RZ - 15 views - 2 months ago

Leasehold
Refurb/BRRR
ROI: 5%
~68 m²
+1 photos

ValuationFair Value

Sold Prices£125K - £440K
Sold Prices/m²£2.1K/m² - £8.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.9K/m²

Value Estimate

£195,000

 

 

End Value (After Refurb)

£310,282

Uplift in Value

+59%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£48,750

Stamp Duty & Legal Fees

£10,950

Refurb Costs

£36,000

Bridging Loan Interest

£5,119

Total Cash In

£102,569

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£310,282

Agent Fees (1%)

£3,103

Bridging Loan

£146,250

Bridging Loan Interest

£5,119

Flip Profit

£58,360

Local Sold Prices

50 sold prices from £125K to £440K, average is £232.3K. £2.1K/m² to £8.5K/m², average is £4K/m².

PriceDateDistanceAddressBeds 
£185K11/200.05 mi18, Fairway Drive, London, Greater London SE28 8QL2
£200K11/200.1 mi19, Woburn Close, London, Greater London SE28 8QZ2
£200K02/210.17 mi16, Sunningdale Close, London, Greater London SE28 8QR2
£230K02/230.29 mi35, Drake Crescent, London, Greater London SE28 8PZ2
£230K02/230.59 mi178, Greenhaven Drive, Thamesmead, London, Greater London SE28 8FU2
£170K03/210.67 mi237, Greenhaven Drive, London, Greater London SE28 8FX2
£210K06/210.67 mi242, Greenhaven Drive, London, Greater London SE28 8FX2
£215K05/210.67 mi211, Greenhaven Drive, London, Greater London SE28 8FX2
£229K05/210.67 mi245, Greenhaven Drive, London, Greater London SE28 8FX2
£247K01/230.72 mi279, Greenhaven Drive, Thamesmead, London, Greater London SE28 8FY2
£185K07/230.85 miFlat 29, Osney House, Hartslock Drive, London, Greater London SE2 9XA2
£232.5K06/211.04 mi73, Ampleforth Road, London, Greater London SE2 9BE2
£270K01/231.04 miFlat 12, Victory Court, Atlantis Close, Barking, Greater London IG11 0GP2
£240K03/231.05 miFlat 14, Arncroft Court, Great Galley Close, Barking, Greater London IG11 0XP2
£265K11/201.07 mi21, Marine Drive, Barking, Greater London IG11 0GJ2
£238K07/231.07 mi69, Marine Drive, Barking, Greater London IG11 0GJ2
£267K11/221.15 miFlat 5, Poseidon Court, Spinnaker Close, Barking, Greater London IG11 0GR2
£255K04/231.25 miFlat 16, Admiral Court, Stern Close, Barking, Greater London IG11 0YA2
£235K03/231.26 mi104, Waterside Close, London, Greater London SE28 0GS2
£200K01/211.3 mi11a, Julia Gardens, Barking, Greater London IG11 0UQ2
£213K02/211.37 mi37, Cookhill Road, London, Greater London SE2 9PD2
£193K02/211.41 mi13, Leatherbottle Green, Erith, Greater London DA18 4HS2
£220K05/211.45 mi7, Horse Bridge Close, Dagenham, Greater London RM9 6YQ2
£210K03/221.45 mi5, Horse Bridge Close, Dagenham, Greater London RM9 6YQ2
£315K01/231.46 mi25, Tunstock Way, Belvedere, Greater London DA17 5RU2
£235K09/221.48 mi13a, Florence Road, London, Greater London SE2 9HB2
£255K05/211.49 mi4, Bylands Close, London, Greater London SE2 9PQ2
£265K02/231.5 mi106, Chalcombe Road, London, Greater London SE2 9QP2
£220K06/211.5 miFlat 5, Belvedere Court, Laymarsh Close, Belvedere, Greater London DA17 5QX2
£240K09/211.54 mi41, Butteridges Close, Dagenham, Greater London RM9 6YD2
£232K04/221.56 miFlat 2, Castle Court, Goresbrook Road, Dagenham, Greater London RM9 6XG2
£220K05/211.56 mi44, Farr Avenue, Barking, Greater London IG11 0NZ2
£205K12/211.57 mi21, Burdetts Road, Dagenham, Greater London RM9 6XZ2
£240K05/231.57 mi9, Burdetts Road, Dagenham, Greater London RM9 6XZ2
£260K04/231.57 mi4, Marathon Way, London, Greater London SE28 0JH2
£125K04/221.6 mi131, Goresbrook Road, Dagenham, Greater London RM9 6YG2
£215K05/211.65 mi38, Combwell Crescent, London, Greater London SE2 9NB2
£205K06/211.66 mi36, Combwell Crescent, London, Greater London SE2 9NB2
£277K08/211.66 mi50, Stanley Avenue, Barking, Greater London IG11 0LE2
£270K10/221.67 mi4, Knee Hill Crescent, London, Greater London SE2 0YL2
£230K03/241.69 miReview Lodge, Flat 27, Review Road, Dagenham, Greater London RM10 9DG2
£250K11/231.69 miFlat 20, Review Lodge, Review Road, Dagenham, Greater London RM10 9DG2
£234K03/211.69 mi62, Coleman Road, Belvedere, Greater London DA17 5AN2
£255K12/221.69 mi60, Knee Hill Crescent, London, Greater London SE2 0YN2
£190K08/211.7 mi43, Hattersfield Close, Belvedere, Greater London DA17 5QT2
£248K09/231.7 mi139b, Mcleod Road, London, Greater London SE2 0BN2
£440K04/211.77 mi14, Urswick Road, Dagenham, Greater London RM9 6EA2
£260K08/211.78 mi10, Hill View Drive, London, Greater London SE28 0LH2
£227.5K02/211.79 mi88, Clive Road, Belvedere, Greater London DA17 5BZ2
£273K09/221.81 mi43, Battery Road, London, Greater London SE28 0JL2

Local Rents

47 rents from £1.4K/mo to £3K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,85008/240.04 miThamesmead, Thamesmead, SE282
£1,75002/240.04 mi-2
£1,64008/240.04 mi-2
£1,80002/250.06 mi-2
£1,70003/250.06 mi-2
£1,57508/240.08 mi-2
£1,55008/240.08 mi-2
£1,75004/250.09 mi-2
£1,67504/250.1 mi-2
£1,75008/240.11 mi-2
£1,75004/250.11 mi-2
£1,80003/250.15 mi-2
£1,60008/240.19 mi-2
£1,40001/250.22 mi-2
£1,40003/250.22 mi-2
£1,65009/240.23 miManordene Road, London, SE282
£1,65009/240.23 mi-2
£1,65010/240.23 mi-2
£1,65008/240.24 miCourtland Grove, London, SE282
£1,60008/240.25 miMartham Close, London2
£1,60008/240.25 miMartham Close, London, SE282
£2,90008/240.26 mi-2
£1,69408/240.26 mi-2
£1,69408/240.26 mi-2
£1,69412/240.26 mi-2
£1,90008/240.29 mi-2
£1,80008/240.29 mi-2
£1,80009/240.29 mi-2
£1,70012/240.29 mi-2
£1,55002/250.31 mi-2
£1,65008/240.31 miGrange Crescent, Thamesmead, SE28 8EX2
£1,40004/250.31 mi-2
£1,64502/250.32 mi-2
£1,70008/240.34 mi-2
£3,00008/240.39 mi-2
£2,85009/240.39 mi-2
£1,65011/240.39 mi-2
£1,69508/240.4 miGreenhaven Drive, Thamesmead, London2
£1,67509/240.4 miGreenhaven Drive, Thamesmead, London2
£1,79509/240.41 mi-2
£1,79509/240.41 mi-2
£1,70010/240.43 mi-2
£1,65008/240.44 miFantail Close, Thamesmead London SE282
£1,60008/240.51 miGreenhaven Drive, London2
£1,80008/240.54 mi-2
£1,45008/240.55 miBertrand Way, London, SE282
£1,69508/240.59 mi-2

Local Area Statistics

Population in SE28

29,318

Population in London

4,771,921

Town centre distance

10.13 miles away

Nearest school

0.30 miles away

Nearest train station

0.76 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+11%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £195,000

March 8, 2025

Floor Plans

Description

  • Spacious 2-bedroom flat +
  • Convenient location with excellent transport links +
  • Requires renovation - ideal for customization +
  • Generous separate reception room +
  • Well-sized kitchen with potential +
  • Two double bedrooms for ample space +
  • Family bathroom for convenience +
  • Proximity to nearby schools +
  • Beautiful green spaces close by +
  • Council tax band D +

We are delighted to present this spacious 2-bedroom 2nd floor flat, located in the desirable area of North Thamesmead. Situated in a convenient location with excellent public transport links, this property offers easy access for commuters.

This flat requires renovation, giving you the opportunity to create your dream home. The property features a generous reception room, providing a separate space for relaxation or entertaining. The flat also includes a well-sized kitchen, awaiting your personal touch. Electric heating and hot water and Double glazing.

The two double bedrooms provide ample space for a growing family or those looking for additional storage. The property also benefits from a family bathroom, providing all the essential facilities.

Located in a vibrant neighbourhood, this flat offers proximity to nearby schools, making it an excellent choice for families. The area also boasts beautiful green spaces, perfect for outdoor activities and enjoying leisurely walks.

The council tax band for this property is D.

Don't miss this chance to transform this property into your ideal home. Contact us today to arrange a viewing and explore the potential this flat has to offer.

Lease 105 years
Service Charge £1969.27
Ground Rent 250 per annum
EPC Grade C

Agents Address: Your Move, 1 Wilton Road, Abbey Wood, SE2 9RH

Agents Telephone Number:

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

ABB250044/2

Agent Details

Your Move, Abbey Wood

020 3835 5226

Next Steps?

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