172 Havering Road, Romford, Essex, RM1 4TD

Description

A Vacant Three Bedroom Mid Terrace House in Need of Refurbishment.

Accommodation

Ground Floor: Reception Room, Kitchen. First Floor: Three Bedrooms, Bathroom. Exterior: front yard and rear garden.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Lawns Park are within easy reach. Transport links are provided by Romford underground station (Elizabeth line) and rail station.

Tenure / Property Information

Investment Analysis

The supplied sold comparables on Havering Road range from £332,000 to £570,000. The £570,000 sale is materially above the other evidence and may not be representative. A cautious evidence-based scenario range is £367,500 to £445,000, with £410,000 used as the base GDV. The subject’s refurbishment requirement, accommodation size and specification are not detailed, so this is indicative only.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting the property and obtaining a detailed refurbishment budget. The guide appears supported by the supplied comparable sales, but the unknown works cost and auction charges prevent a reliable bid or profit calculation.

Works Required

Refurbishment is required, but the evidence does not specify the condition, defects or scope. Obtain a full survey and contractor quotations before allowing for internal, kitchen, bathroom, decoration or external works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £270,000 guide, 75% of the base GDV estimate would be £307,500. However, refurbishment costs, buyer costs beyond the known £1,800 administration charge, disbursements and finance costs are unavailable, so required equity and cash left in cannot be calculated. Refinance eligibility and valuation are not guaranteed.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £1,662 pcm, equivalent to £19,944 annually. Against the £270,000 guide, this indicates a gross yield of approximately 7.39%, before refurbishment, finance, management, voids, maintenance and purchase costs. Achieved rent and property condition are unverified, so net profitability cannot be established.

Flip Analysis

The base GDV estimate is £410,000, but refurbishment costs and the full acquisition/project cost are unsupported. A reliable flip surplus or maximum bid therefore cannot be calculated. The comparable range provides some resale support, but the subject’s condition and specification remain key unknowns.

Investor Risks & Due Diligence

• Refurbishment is confirmed but its scope and cost are unknown.

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

• Buyer premium is unspecified and legal-pack disbursements or other charges may be payable.

• The sold comparables show a wide price range, including a materially higher £570,000 sale that may not be representative.

• The property’s EPC, council tax, heating and parking information are not supplied.

• Refinance at 75% of GDV is an assumption and is not guaranteed by a lender or valuer.

Recommendation

Proceed only after reviewing the legal pack, inspecting the property and obtaining a detailed refurbishment budget. The guide appears supported by the supplied comparable sales, but the unknown works cost and auction charges prevent a reliable bid or profit calculation.

Strategy Rating

Analysis Confidence

There are several same-road freehold sold comparables and one advertised rental figure, but no property size, detailed condition report, refurbishment quotations, EPC, legal-pack costs or achieved-rent evidence.