139 Carpenders Avenue, Watford, Hertfordshire, WD19 5BN

Description

A Vacant Three Bedroom End of Terrace Chalet Bungalow in Need of Modernisation. The property comprises a three bedroom end of terrace chalet bungalow arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom. First Floor: Bedroom. Exterior: Front and rear gardens and off street parking.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Greenfield Park Play Area are within easy reach. Transport links are provided by Bushey overground station and Carpenders Park rail station.

Tenure / Property Information

Investment Analysis

The £590,000 completed sale at 149 Carpenders Avenue provides relevant local evidence, but it is a terraced property rather than the subject end-of-terrace chalet bungalow and no adjustment evidence is supplied. £590,000 is therefore used as an indicative base GDV only, not a formal valuation. The £2,250 pcm figure is an advertised asking rent, not achieved rent.

Investment Snapshot

Strategy Recommendation

Proceed only subject to survey, legal-pack review and a firm refurbishment quotation. The guide-to-comparable gap is notable, but the incomplete cost evidence makes a firm strategy premature.

Works Required

Modernisation is required, but the evidence does not specify the scope, condition or cost of works. Obtain a survey and review the legal pack before pricing the refurbishment.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £590,000 base GDV, 75% refinance is £442,500. The strategy cannot be fully assessed because refurbishment costs, total acquisition costs and finance costs are not supplied. The apparent refinance headroom should not be relied upon until the works and valuation are verified.

Buy-to-Let Analysis

At the £290,000 guide, the advertised £2,250 pcm rent implies approximately 9.31% gross yield before refurbishment, finance, operating costs and fees. This is based on asking rent rather than achieved rent, and total-cost yield cannot be established because refurbishment costs are unavailable.

Flip Analysis

The £590,000 local completed sale suggests potential resale value, but the comparable is not identical and no refurbishment or selling-cost allowance is available. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but the scope and cost are unknown.

• The single comparable is terraced rather than an end-of-terrace chalet bungalow.

• The rental figure is an advertised asking rent, not achieved rent.

• Additional purchaser disbursements may be payable under the legal pack.

• No refurbishment, finance, operating or selling costs are supplied.

Recommendation

Proceed only subject to survey, legal-pack review and a firm refurbishment quotation. The guide-to-comparable gap is notable, but the incomplete cost evidence makes a firm strategy premature.

Strategy Rating

Analysis Confidence

One relevant completed sale and one advertised rent are supplied, but there is no quantified refurbishment scope, no low/high valuation evidence, and disbursements remain unspecified.