24 Dunkery Road, Mottingham, London, SE9 4HZ

Description

A Vacant Three Bedroom Semi Detached House. Potential for Rear Extension (Subject to Obtaining all Relevant Consents)

Accommodation

Ground Floor: Through Reception Room, Kitchen. First Floor: Three Bedrooms, Bathroom. Exterior: Front and rear gardens and a garage.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Chinbrook Meadows are within easy reach. Transport links are provided by Grove Park rail station.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of 46 Dunkery Road at £498,000 in September 2020. Other supplied sales are from 2005–2007 and are not reliable indicators of current value. A current GDV cannot be established without more recent comparable evidence, floor area, condition detail and confirmation of the extension potential. The £290,000+ guide is before the £1,800 administration charge and any additional legal-pack or special-condition costs.

Investment Snapshot

Strategy Recommendation

Proceed only with conservative BTL underwriting and full legal, structural and cost due diligence. Do not rely on the extension or the 2020 comparable to justify a higher bid.

Works Required

No specific defects or refurbishment requirements are supplied. Allow for inspection-led repairs only. The stated rear-extension potential should not be assumed in the appraisal and would require all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR underwriting is not supportable from the evidence because current GDV, refurbishment allowance, total project cost and refinance value are unavailable. The 2020 £498,000 same-road sale provides context only and should not be treated as a current valuation.

Buy-to-Let Analysis

The supplied £2,000 pcm figure is an advertised asking rent, not achieved rent or a passing rent. Against the £290,000 guide, this indicates an 8.28% gross yield before the £1,800 administration charge, other purchaser costs, finance, voids, management, maintenance and tax. A net yield cannot be established.

Flip Analysis

A flip appraisal cannot be completed reliably. The available £498,000 comparable completed in 2020 is too dated to establish current resale value, while works, selling costs and any extension value are unsupported.

Investor Risks & Due Diligence

• The property is vacant, so the supplied rent is not passing rent and may not be achieved.

• The £2,000 pcm figure is an advertised asking rent from one listing.

• The property has an EPC rating of E, with no improvement-cost evidence supplied.

• The potential rear extension is subject to obtaining all relevant consents and has no supported value or cost allowance.

• The £290,000+ guide excludes the £1,800 administration charge and may exclude disbursements and other special-condition costs.

• Current market value cannot be established from the mainly historic comparable evidence.

Recommendation

Proceed only with conservative BTL underwriting and full legal, structural and cost due diligence. Do not rely on the extension or the 2020 comparable to justify a higher bid.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, guide, administration charge, one advertised rent and historic same-road sales are supplied, but current valuation, floor area, condition, refurbishment costs, purchaser disbursements and achieved rental evidence are missing.