15 Netherfield Road, London

Description

Three bedroom terraced house. Benefitting from a rear garden. Well located for the amenities of North Finchley Road. In need of modernisation. Vacant.

Accommodation

Ground Floor - Reception Room, Room, Kitchen, Utility; First Floor - Three Bedrooms, Bathroom/WC

Location

Conveniently located close to Woodside Park Underground Station, providing access to central London via the Northern line. Local amenities include Aldi, Waitrose and Sainsbury’s, alongside the shops, cafés and restaurants of North Finchley High Road. The area also benefits from a good selection of schools, leisure facilities and green spaces, with nearby sports facilities and parks providing opportunities for recreation. Transport Underground - Woodside Park (Northern).

Tenure / Property Information

Investment Analysis

The strongest evidence is 3 Netherfield Road, a same-road freehold terraced sale at £820,000 in February 2025. The £750,000 sale at 11 Netherfield Road is older, from 2017. Allowing for the subject being vacant and in need of modernisation, an indicative base GDV of £785,000 is used, with an evidence-based range of £750,000 to £820,000. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential value-add BTL or flip, subject to a full inspection, detailed modernisation quotation and confirmation that the achieved resale value supports the project. Do not rely on the headline GDV or asking-rent evidence without further due diligence.

Works Required

Modernisation of the existing three-bedroom terraced house, including updating the kitchen, bathroom, finishes and services as required. The evidence does not identify specific defects or provide a works budget, so the scope and cost remain unquantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £565,000 guide, 75% of the £785,000 base GDV would be approximately £588,750. However, the refurbishment cost, buyer costs and total project cost are not supplied, so cash required, refinance surplus and equity release cannot be reliably calculated. The strategy depends on achieving the indicated GDV after modernisation.

Buy-to-Let Analysis

The supplied relevant asking-rent evidence indicates £2,500–£2,750 pcm for three-bedroom houses in N12, equivalent to £30,000–£33,000 annually. On the £565,000 guide, this implies an estimated gross yield of 5.31%–5.84%, or approximately 5.58% using the midpoint rent. These are advertised asking rents, not achieved rents, and the yield before refurbishment, finance, tax, maintenance, voids and other costs cannot be established.

Flip Analysis

The base GDV estimate of £785,000 provides £220,000 of gross headroom above the £565,000 guide before refurbishment, selling, finance, tax and acquisition costs. A net flip surplus cannot be calculated because no works allowance, buyer costs or selling allowance is provided.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not quantified; the property is stated to need modernisation.

• The rental evidence comprises advertised asking rents rather than achieved rents.

• The comparable evidence is limited, with only one recent same-road sale supplied.

• Buyer premium, administration charges and other auction costs are not provided.

• GDV may differ from the selected comparables depending on the subject property's condition and specification.

• Finance, tax, maintenance, void and selling costs are not included in the yield or headroom calculations.

Recommendation

Potential value-add BTL or flip, subject to a full inspection, detailed modernisation quotation and confirmation that the achieved resale value supports the project. Do not rely on the headline GDV or asking-rent evidence without further due diligence.

Strategy Rating

Analysis Confidence

There is one recent same-road comparable and one older same-road comparable, plus relevant N12 asking-rent evidence. However, the property condition is only broadly described, refurbishment costs, achieved rent, EPC, council tax, buyer costs and selling costs are missing.