184, Parsonage Road, GRAYS, Essex, RM20 4AW

Description

Leasehold one bedroom flat. Full vacant possession. 3D Tour available.

Accommodation

Bedroom, reception room, kitchen, bathroom/WC

Location

Situated on Parsonage Road. Transport options include local bus routes and Chafford Hundred Rail Station. Shopping amenities are available within Grays, Chafford Hundred and West Thurrock, with recreational pursuits along the River Thames, local parks or Chafford Gorges Nature Reserve.

Tenure / Property Information

Investment Analysis

Recent same-road completed sales range from £105,638 to £132,000, with an older £170,000 sale and a £115,000 sale. A base GDV of £115,000 is used as an estimate, but the comparables do not confirm matching size, condition, lease length or charges. The subject has only 62 years remaining, while service charge and ground rent details are unavailable, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional value opportunity at or below the guide, subject to satisfactory legal, leasehold and physical due diligence. Do not rely on BTL or BRRR returns until rent, charges, leaseability and works are confirmed.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a physical inspection and confirm the lease, service charge, ground rent, repair liabilities and any required works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £70,000 guide, the known auction administration charge is £1,800, but total project cost cannot be calculated because works, leasehold charges and any seller fees are unknown. A 75% refinance against the £115,000 base GDV would be approximately £86,250, subject to lender valuation, lease acceptability and finance costs.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Service charge, ground rent and other lease costs are also unknown. The flat is vacant, but achievable rent and operating costs require further evidence.

Flip Analysis

The evidence supports an estimated resale range of £105,638 to £132,000, with £115,000 as the base GDV. A reliable flip surplus cannot be calculated because refurbishment costs, leasehold charges, selling costs and potential seller fees are not supplied.

Investor Risks & Due Diligence

• Only 62 years remain on the lease, which may affect mortgageability, resale and extension cost.

• Annual service charge, ground rent and review provisions are not supplied.

• The seller may charge additional completion fees under the special conditions.

• No specific condition or refurbishment information is provided.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• Comparable sale prices vary materially and do not confirm matching size, condition or lease terms.

Recommendation

Proceed only as a conditional value opportunity at or below the guide, subject to satisfactory legal, leasehold and physical due diligence. Do not rely on BTL or BRRR returns until rent, charges, leaseability and works are confirmed.

Strategy Rating

Analysis Confidence

There are several same-road completed sales, but comparable attributes are incomplete and key inputs including condition, rent, lease charges, seller fees and refurbishment costs are unavailable.