2 Bed Flat, Single Let, Mitcham, CR4 4LT, £265,000

New Road, Mitcham, CR4 4LT - 22 days ago

Leasehold

BTL

ROI: 3%

~68 m²

+7 photos

ValuationUndervalued

Sold Prices	£150K - £367K
Sold Prices/m²	£3.8K/m² - £7K/m²

Square Metres	~68.11 m²
Price/m²	£3.9K/m²
Value Estimate	£328,600£328,600
BMV	24%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£66,250£66,250
Stamp Duty & Legal Fees	£15,200£15,200
Total Cash In	£81,450£81,450

Cash Out
Rent Range	£1,200 - £2,400£1,200 - £2,400
Rent Estimate	£1,349
Running Costs/mo	£1,118£1,118
Cashflow/mo	£231£231
Cashflow/yr	£2,773£2,773
ROI	3%3%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £150K to £367K, average is £275.5K. £3.8K/m² to £7K/m², average is £5.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£260K	08/21	0 mi	88, New Road, Mitcham, Greater London CR4 4LT	£4,127	63	2	Flat
£295K	07/23	0 mi	100, New Road, Mitcham, Greater London CR4 4LT	£4,836	61	2	Flat
£240K	01/21	0 mi	76, New Road, Mitcham, Greater London CR4 4LT	£4,875	49	2	Flat
£260K	12/20	0.04 mi	163, Mullards Close, Mitcham, Greater London CR4 4FF	£4,815	54	2	Flat
£310K	11/22	0.04 mi	155, Mullards Close, Hackbridge, Mitcham, Greater London CR4 4FF	£4,559	68	2	Flat
£280K	04/23	0.06 mi	2, Mullards Close, Hackbridge, Mitcham, Greater London CR4 4FE	£5,385	52	2	Flat
£283K	07/23	0.09 mi	137, Mullards Close, Hackbridge, Mitcham, Greater London CR4 4FD	£5,442	52	2	Flat
£290K	01/23	0.09 mi	90, Mullards Close, Hackbridge, Mitcham, Greater London CR4 4FD	£4,524	64	2	Flat
£305K	02/21	0.12 mi	9, New Road, Mitcham, Greater London CR4 4JN	£4,178	73	2	Flat
£270K	07/21	0.14 mi	18, Reynolds Close, Carshalton, Greater London SM5 2AY	£6,585	41	2	Flat
£280K	01/21	0.14 mi	14, Reynolds Close, Carshalton, Greater London SM5 2AY	£5,833	48	2	Flat
£310K	02/21	0.14 mi	31, Reynolds Close, Carshalton, Greater London SM5 2AY	£5,849	53	2	Flat
£297K	03/23	0.14 mi	7, Reynolds Close, Carshalton, Greater London SM5 2AY	£5,712	52	2	Flat
£269.9K	01/23	0.14 mi	16, Reynolds Close, Carshalton, Greater London SM5 2AY	£6,584	41	2	Flat
£272.5K	05/21	0.15 mi	66, Reynolds Close, Carshalton, Greater London SM5 2AZ	£5,561	49	2	Flat
£275K	07/21	0.16 mi	6, Philips Close, Carshalton, Greater London SM5 2FE	£4,741	58	2	Flat
£260K	03/21	0.16 mi	12, Philips Close, Carshalton, Greater London SM5 2FE	-	-	2	Flat
£275K	01/23	0.16 mi	3, Philips Close, Carshalton, Greater London SM5 2FE	-	-	2	Flat
£289K	03/23	0.17 mi	78, Reynolds Close, Carshalton, Greater London SM5 2AZ	£7,049	41	2	Flat
£270K	11/20	0.17 mi	68, Reynolds Close, Carshalton, Greater London SM5 2AZ	£5,889	46	2	Flat
£295K	10/20	0.17 mi	81, Reynolds Close, Carshalton, Greater London SM5 2AZ	£5,364	55	2	Flat
£275K	12/20	0.17 mi	90, Reynolds Close, Carshalton, Greater London SM5 2AZ	£6,111	45	2	Flat
£150K	05/23	0.17 mi	18, Percy Road, Mitcham, Greater London CR4 4JU	-	-	2	Flat
£256.5K	02/21	0.21 mi	141, Culvers Avenue, Carshalton, Greater London SM5 2BA	£5,839	44	2	Flat
£285K	04/21	0.22 mi	56, Otter Drive, Carshalton, Greater London SM5 2FH	£4,914	58	2	Flat
£237.5K	10/21	0.25 mi	Flat 5c, Oakley Court, London Road, Mitcham Junction, Mitcham, Greater London CR4 4HS	-	-	2	Flat
£280K	04/23	0.25 mi	Flat 5f, Oakley Court, London Road, Mitcham Junction, Mitcham, Greater London CR4 4HS	-	-	2	Flat
£280K	06/21	0.28 mi	43, Millside, Carshalton, Greater London SM5 2BQ	£3,784	74	2	Flat
£302K	02/21	0.29 mi	25, Longfield Avenue, Wallington, Greater London SM6 7AZ	£5,808	52	2	Flat
£265K	07/21	0.52 mi	37, Tavern Close, Carshalton, Greater London SM5 1JE	£4,907	54	2	Flat
£285K	08/21	0.54 mi	119a, Green Wrythe Lane, Carshalton, Greater London SM5 2ST	-	-	2	Flat
£285K	11/20	0.54 mi	129, Green Wrythe Lane, Carshalton, Greater London SM5 2ST	£5,700	50	2	Flat
£244K	12/20	0.55 mi	19, Groveside Close, Carshalton, Greater London SM5 2EQ	£4,692	52	2	Flat
£290K	06/21	0.66 mi	76, Green Wrythe Lane, Carshalton, Greater London SM5 2DP	£5,577	52	2	Flat
£267K	12/22	0.66 mi	82f, Green Wrythe Lane, Carshalton, Greater London SM5 2DP	£4,525	59	2	Flat
£270K	01/21	0.67 mi	48, Shaftesbury Road, Carshalton, Greater London SM5 1HN	£5,000	54	2	Flat
£250K	04/21	0.68 mi	50, Devana End, Carshalton, Greater London SM5 2NL	£4,032	62	2	Flat
£270K	01/21	0.68 mi	28, Devana End, Carshalton, Greater London SM5 2NL	£4,500	60	2	Flat
£367K	10/23	0.69 mi	30, Strawberry Lane, Carshalton, Greater London SM5 2NQ	£6,220	59	2	Flat
£335K	03/21	0.69 mi	18, Strawberry Lane, Carshalton, Greater London SM5 2NQ	£5,038	67	2	Flat
£330K	03/21	0.7 mi	48, Strawberry Lane, Carshalton, Greater London SM5 2NQ	£4,648	71	2	Flat
£225K	08/21	0.72 mi	24a, Green Wrythe Lane, Carshalton, Greater London SM5 2DW	£4,631	49	2	Flat
£320K	03/23	0.74 mi	90, Denmark Road, Carshalton, Greater London SM5 2JW	£5,270	61	2	Flat
£335K	11/20	0.74 mi	80, Denmark Road, Carshalton, Greater London SM5 2JW	£6,442	52	2	Flat
£321.3K	05/21	0.81 mi	Apartment 7, Manor Court, Millpond Place, Carshalton, Greater London SM5 2JT	-	-	2	Flat
£274.5K	10/21	0.81 mi	61, Caraway Place, Wallington, Greater London SM6 7AG	£4,733	58	2	Flat
£276K	10/20	0.81 mi	59, Caraway Place, Wallington, Greater London SM6 7AG	£6,732	41	2	Flat
£275K	12/21	0.82 mi	58a, Wrythe Lane, Carshalton, Greater London SM5 2RP	£6,506	42	2	Flat
£262K	10/20	0.82 mi	66a, Wrythe Lane, Carshalton, Greater London SM5 2RP	£5,955	44	2	Flat
£260K	01/21	0.84 mi	16, Wrythe Lane, Carshalton, Greater London SM5 2RN	£4,906	53	2	Flat

Local Rents

36 rents from £1.2K/mo to £2.4K/mo, average is £1.7K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,400	03/24	0.04 mi	Mullards Close, Mitcham, CR4	2	Flat
£1,400	01/25	0.06 mi	-	2	Flat
£1,399	03/24	0.09 mi	Mullards Close, Hackbridge, Surrey, CR4	2	Flat
£1,750	03/24	0.09 mi	Mullards Close, Mitcham	2	Terraced House
£1,475	08/24	0.14 mi	Reynolds Close, CARSHALTON	2	Flat
£1,500	03/24	0.16 mi	Close to Watercress Park	2	Flat
£1,200	01/25	0.17 mi	-	2	Flat
£1,950	02/25	0.19 mi	-	2	Terraced House
£1,650	09/24	0.21 mi	Otter Drive Carshalton SM5	2	Flat
£1,600	03/24	0.21 mi	Wolseley Road, Mitcham, CR4	2	Detached House
£1,600	02/24	0.21 mi	-	2	Semi-Detached House
£2,400	02/25	0.23 mi	-	2	Terraced House
£1,600	03/24	0.27 mi	-	2	Terraced House
£1,600	03/24	0.27 mi	Oakdale Way, Mitcham, CR4	2	Flat
£1,850	08/24	0.34 mi	-	2	Semi-Detached House
£1,850	08/24	0.34 mi	Clover Way, Wallington, SM6	2	Detached House
£1,400	11/24	0.35 mi	-	2	Flat
£1,800	04/25	0.37 mi	-	2	Flat
£1,750	12/24	0.38 mi	-	2	Flat
£2,000	11/24	0.38 mi	-	2	Flat
£1,650	09/24	0.38 mi	Saxon House, 170 London Road, WALLINGTON	2	Flat
£1,750	09/24	0.38 mi	London Road, Wallington, SM6	2	Flat
£1,699	02/24	0.38 mi	London Road, Wallington, Surrey. SM6	2	Flat
£1,850	09/24	0.39 mi	-	2	Flat
£1,694	04/25	0.39 mi	-	2	Flat
£1,800	09/24	0.4 mi	Foxglove Way, Wallington, SM6	2	Terraced House
£1,700	09/24	0.45 mi	London Road Wallington SM6	2	Flat
£1,850	01/25	0.45 mi	-	2	Flat
£1,600	09/24	0.49 mi	Rossignol Gardens, Carshalton, SM5	2	Flat
£1,600	08/24	0.49 mi	-	2	Flat
£1,600	09/24	0.49 mi	Winchcombe Road, Carshalton, SM5	2	Terraced House
£2,097	09/24	0.52 mi	Crypton House, Thimle Crescent, London, SM6	2	Flat
£1,950	12/24	0.52 mi	-	2	Flat
£2,000	11/24	0.53 mi	-	2	Flat
£1,900	12/24	0.59 mi	-	2	Terraced House
£1,999	03/25	0.59 mi	-	2	Flat

Local Area Statistics

Population in CR4	58,28658,286
Town centre distance	1.27 miles away1.27 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.50 miles away0.50 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+4%+4%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+18%+18%

Property History

Listed for £265,000

March 11, 2025

Floor Plans

Description

2 Bedrooms +
EPC rating E +
Council Tax Band C +
Lease remaining 159 Years +

This property presents an excellent opportunity for first time buyers, investors or those seeking a comfortable home in a well connected and vibrant community.

Property consists of two bedrooms, living room and separate kitchen.

This property also benefits from having electric heating and parking on a first come first serve basis and entry phone system.

Call today to arrange a viewing!

This property presents an excellent opportunity for first time buyers, investors or those seeking a comfortable home in a well connected and vibrant community.

Property consists of two bedrooms, living room and separate kitchen.

This property also benefits from having electric heating and parking on a first come first serve basis and entry phone system.

Call today to arrange a viewing!

New to Market! Chain free two bed apartment situated on a popular development in Mitcham.

Agent Details

Andrews Estate Agents, Mitcham

020 3856 3994

Next Steps?

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

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