21B Ripple Road, Barking, Essex

Description

A second floor three-bedroom flat, benefitting from a balcony. Presented in clean decorative order. Vacant.

Accommodation

Second Floor - Lounge/Diner, Kitchen, Three Bedrooms, Bathroom/WC, Utility Room, Balcony

Location

The property is situated on Ripple Road in the heart of Barking town centre, close to a wide range of shopping facilities, restaurants, cafés and local amenities. The nearby Vicarage Field Shopping Centre and town centre provide extensive retail and leisure facilities. Transport links are provided by Barking Station, offering District, Hammersmith & City, London Overground and National Rail services, together with a number of local bus routes.

Tenure / Property Information

Investment Analysis

The most relevant evidence is the £214,000 sale of 21A Ripple Road in July 2018 and the £140,000 sale of the subject 21B in September 2014. These are dated comparables and no current valuation, service-charge information or directly comparable rental evidence for this flat is supplied. A £214,000 base GDV is therefore indicative only, with £140,000 used as a conservative historic exact-property reference.

Investment Snapshot

Strategy Recommendation

Potential resale-led purchase only if the legal pack confirms acceptable charges and the buyer fee, seller costs, VAT position and condition support sufficient margin. Do not rely on the supplied house rent as flat income evidence.

Works Required

No specific refurbishment works are evidenced. The flat is described as being in clean decorative order. Inspection should confirm condition, balcony, kitchen, bathroom, utility room and statutory/compliance matters before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £175,000 guide, 75% of the indicative £214,000 base GDV would be £160,500 before finance, tax and transaction costs. The refinance outcome and cash left in cannot be calculated because refurbishment, buyer and seller costs are unavailable. The dated valuation evidence creates material refinance risk.

Buy-to-Let Analysis

BTL yield cannot be established reliably. The only rental evidence is a £2,301 pcm advertised asking rent for three-bedroom houses, not a three-bedroom flat, and is not an achieved rent. Buyer fees, seller charges, VAT position and other ownership costs are also unknown.

Flip Analysis

Using the indicative £214,000 base GDV, the gross difference against the £175,000 guide is £39,000 before buyer fees, seller charges, VAT if applicable, finance, tax, selling costs and any works. This is not a reliable net profit estimate because those costs are not supplied.

Investor Risks & Due Diligence

• Dated comparable evidence may not represent current Barking flat values.

• The exact property sold for £140,000 in 2014, materially below the £214,000 nearby 2018 comparable.

• Buyer fee is excluded from the guide and is not quantified.

• Seller charges and any VAT election are unknown until the Special Conditions of Sale are reviewed.

• The only rental evidence is an advertised asking rent for three-bedroom houses, not this flat.

• EPC is rated D.

• Council tax, parking, heating and ownership/service-charge information are not supplied.

Recommendation

Potential resale-led purchase only if the legal pack confirms acceptable charges and the buyer fee, seller costs, VAT position and condition support sufficient margin. Do not rely on the supplied house rent as flat income evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy and two relevant historic sales are supplied, but the comparables are dated, the exact-property sale is from 2014, and buyer fees, seller charges, VAT, works, service costs and directly comparable flat rents are unavailable.