176 Overton Drive, Romford

Description

This two-bedroom terraced house is situated in convenient location, with local shops, schools and transport links easily accessible.

Accommodation

Ground Floor: Entrance door, kitchen and lounge/dining room. First Floor: Two bedrooms, and bathroom with W.C. Outside: Rear garden.

Location

Close to local shops and schools; walking distance to Chadwell Heath Railway Station; suitable for letting or owner-occupation; improvement required.

Tenure / Property Information

Investment Analysis

The strongest evidence is 180 Overton Drive, a freehold terraced sale at £360,000 on 30 June 2026. Other same-road sales were £340,000 in 2021 and £324,000 in 2020, but are older. A base GDV of £360,000 is used, subject to the unknown condition, size and specification of the comparables and the subject's required improvement works. A lower evidence-supported scenario of £324,000 is used; no higher scenario than £360,000 is supported by the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not bid above a separately surveyed and costed figure. The property may suit a refurbishment-led BTL or resale, but the unknown works cost and limited rental evidence make the investment case unconfirmed.

Works Required

Improvement works are required, but the evidence does not specify the defects or scope. Obtain a full inspection and cost only evidenced works; the description identifies a kitchen, lounge/dining room, bathroom, two bedrooms and rear garden, with no specific replacement or repair items confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £280,000 guide, the indicated 75% refinance of the £360,000 base GDV is £270,000. However, refurbishment costs, buyer/admin fees and other acquisition costs are not quantified, so total project cost, cash required and cash left in cannot be calculated. BRRR viability remains unconfirmed.

Buy-to-Let Analysis

The supplied rental evidence comprises advertised asking rents for two-bedroom flats at £1,050 and £1,450 pcm, not achieved rents and not directly comparable to this two-bedroom terraced house. These imply gross rent of £12,600 to £17,400 annually and gross yields of approximately 4.5% to 6.2% against the £280,000 guide, before works, fees, finance, voids and operating costs. A reliable house rent cannot be established.

Flip Analysis

Using the £360,000 base GDV, the gross value uplift over the £280,000 guide is £80,000 before refurbishment, acquisition costs, finance, selling costs and tax. As the works scope and cost are unknown and no selling allowance is supplied, a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Improvement is required but the defects and refurbishment scope are unspecified.

• The rental evidence is for advertised flat rents rather than achieved rents for comparable houses.

• Buyer/admin charges and other non-optional fees are unspecified and may materially increase total cost.

• The comparable sales differ in date and their condition, size and specification are not supplied.

• Stamp Duty, Land Registry fees, VAT and finance costs may be payable but are not quantified.

Recommendation

Do not bid above a separately surveyed and costed figure. The property may suit a refurbishment-led BTL or resale, but the unknown works cost and limited rental evidence make the investment case unconfirmed.

Strategy Rating

Analysis Confidence

A recent same-road completed sale supports the base GDV and the guide price is known, but condition, floor area, refurbishment costs, house-specific rent and auction fees are not supplied.