22c Burgoyne Road, Harringay Ladder, London

Description

A two bedroom third floor flat situated in an attractive end-of-terrace building in a highly sought after residential location. The property is presented in reasonable decorative order and is well located for the amenities of Harringay Ladder. To be sold with vacant possession.

Accommodation

Third floor - Two Bedrooms, Bathroom, Kitchen, Living Room.

Location

The property is located on Burgoyne Road which is situated between Wightman Road and Green Lane. Local amenities can be found on Green Lane, West Green Road and Stroud Green Road. Recreational amenities of Finsbury Park, Belmont Recreation Ground and Chestnuts Park are all easily accessible. Transport Harringay - National Rail.

Tenure / Property Information

Investment Analysis

The five supplied same-road leasehold flat sales range from £503,000 to £690,000, with a median of £611,750. A base GDV of £611,750 is used, with the observed sales range as low and high scenarios. Comparability is limited because floor areas, bedroom details, exact condition and specification are not provided.

Investment Snapshot

Strategy Recommendation

Consider as a potential long-term BTL or value-led purchase only after confirming the achieved rent, lease costs, condition, legal pack and all auction charges. Do not rely on the headline GDV spread for a flip without a detailed inspection and cost plan.

Works Required

The flat is described as being in reasonable decorative order. No specific defects or quantified works are evidenced; inspection should confirm whether only minor decoration or other works are required.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV estimate, 75% refinance would be approximately £458,813. However, refurbishment costs, buyer fees, seller charges, finance costs, service charges and other acquisition costs are not supplied, so cash left in and equity cannot be reliably calculated. The apparent valuation margin is substantial but depends heavily on comparability and final purchase price.

Buy-to-Let Analysis

The supplied nearby two-bedroom rental listing is advertised at £1,600 pcm, implying £19,200 annual gross rent. Against the £270,000 guide, this indicates a 7.11% gross yield before finance, voids, management, maintenance, service charge, taxes and auction costs. This is an asking rent from another property, not achieved rent or a confirmed rent for this flat, so the BTL case requires rent and lease-cost verification.

Flip Analysis

The guide is materially below the supplied same-road sale range, but a reliable flip surplus cannot be calculated because works, auction charges, selling costs and finance costs are unsupported. The flat is described as in reasonable decorative order, which may limit the value-add opportunity.

Investor Risks & Due Diligence

• The comparable sales do not provide floor areas, detailed specifications or condition, limiting GDV accuracy.

• The £1,600 pcm figure is an advertised asking rent for another nearby property, not achieved rent for this flat.

• Buyer fees, VAT applicability, seller charges and other auction costs are unspecified.

• Service charge, ground rent and other lease-related costs are not supplied.

• The condition is only described as reasonable decorative order; no inspection or quantified works schedule is provided.

Recommendation

Consider as a potential long-term BTL or value-led purchase only after confirming the achieved rent, lease costs, condition, legal pack and all auction charges. Do not rely on the headline GDV spread for a flip without a detailed inspection and cost plan.

Strategy Rating

Analysis Confidence

There are five same-road completed sales and one nearby advertised rental, but no floor areas, detailed comparability, EPC, service charge, ground rent, condition survey, buyer fee or seller-charge information.