11 Howard Road, Ilford, Essex

Description

Freehold three bedroom terrace house. Full vacant possession.

Accommodation

First floor: Three bedrooms, shower room/WC. Ground floor: Two reception rooms, kitchen. Outside: Front and rear garden.

Location

The property is situated on Howard Road within a popular residential area close to local shopping amenities within Ilford. Public transport links include Ilford Mainline Rail station with East Ham Underground station (District and Hammersmith & City Lines) to the south and Gants Hill Underground station (Central Line) to the north. Further transport is provided by a network of local bus services serving the surrounding vicinity with road links including the A12 to the north, the A13 to the south and North Circular Road (A406) to the west. An extensive range of shops, bars and restaurants can be found locally within Ilford with recreational pursuits being found at the Wanstead Flats to the west with Little Ilford Park to the south and Valentines Park to the north.

Tenure / Property Information

Investment Analysis

The five supplied completed sales on Howard Road range from £430,000 to £495,000, with a simple average of £457,000. The most recent two sales were £430,000 and £450,000. A base GDV of £450,000 is used, with £430,000 low and £495,000 high scenarios. Condition-specific adjustment is not possible because no condition or refurbishment detail is supplied.

Investment Snapshot

Strategy Recommendation

Investigate as a potential BTL or BRRR purchase only after verifying the achievable rent, condition, parking/heating details and special conditions. Do not rely on the headline spread or bid without a completed cost and rent assessment.

Works Required

No specific works are evidenced. Inspection should establish whether any repairs, redecoration, kitchen or bathroom works, services, heating or parking-related matters are required before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £350,000 guide plus the known £1,800 buyer administration charge, and assuming no quantified works allowance because none is evidenced, the base cost is £351,800. A 75% refinance against the £450,000 base GDV is £337,500, leaving indicative cash left in of £14,300 before finance, tax and any works. Actual BRRR performance depends on verified condition, rent, valuation and lender costs.

Buy-to-Let Analysis

The supplied advertised rents range from £500 to £2,250 pcm. At the higher advertised rent, gross yield is approximately 7.71% on the £350,000 guide; at £500 pcm it is approximately 1.71%. The evidence is too inconsistent to establish a reliable market rent or dependable BTL yield. The calculation excludes finance, tax, insurance, maintenance, voids and management.

Flip Analysis

Against the £450,000 base GDV, the guide and known administration charge total £351,800 before works, selling costs, finance, tax and any seller-charged completion fees. The apparent £98,200 spread is not a supported flip surplus because refurbishment and selling allowances are unavailable.

Investor Risks & Due Diligence

• Refurbishment requirements and costs are unknown.

• Rental evidence is materially inconsistent, ranging from £500 to £2,250 pcm, and consists only of advertised asking rents.

• Council tax status is unclear, being stated as TBC and also Deleted.

• Parking and heating details require confirmation from the auction centre.

• Additional seller-charged completion fees may apply under the special conditions.

• Finance, tax, selling costs, insurance, maintenance and voids are excluded from the calculations.

Recommendation

Investigate as a potential BTL or BRRR purchase only after verifying the achievable rent, condition, parking/heating details and special conditions. Do not rely on the headline spread or bid without a completed cost and rent assessment.

Strategy Rating

Analysis Confidence

There are five directly comparable completed sales on the same road and clear tenure/occupancy details, but condition, refurbishment costs, council tax, parking, heating, seller fees and reliable achieved rent evidence are absent.