24 Kings Walk, South Croydon, Surrey, CR2 9BS

Description

A Three Bedroom Semi Detached House Subject to a Periodic Tenancy Producing £30,000 Per Annum. The property comprises a three bedroom semi detached house arranged over ground and first floors. By Order of the LPA Receivers.

Accommodation

Ground Floor: Reception Room, Kitchen. First Floor: Three Bedrooms, Bathroom, Separate WC. Exterior: Off street parking and a rear garden.

Location

Situated on a residential road close to local shops and amenities. The open spaces of Riddlesdown Common are within easy reach. Transport links are provided by Whyteleafe rail station.

Tenure / Property Information

Investment Analysis

Same-street completed sales provide the strongest evidence: £370,000 for 31 Kings Walk in February 2025 and £425,000 for 33 Kings Walk in October 2025. The older sales were £405,000 and £423,000 in 2021. A cautious evidence-based range is £370,000–£425,000, with a base GDV of £397,500. This is not a formal valuation and the property's condition, internal specification and tenancy impact are not evidenced.

Investment Snapshot

Strategy Recommendation

Prioritise BTL, with BRRR considered only after verifying the periodic tenancy, rent receipts, legal pack and valuation. Do not rely on a flip case without condition and selling-cost evidence.

Works Required

No refurbishment works are evidenced. Allow for inspection and any required works only after reviewing the legal pack, tenancy information and survey; no numerical works allowance has been included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known admin charge, the analysed cost is £326,800 before any buyer premium, disbursements, finance, tax or works. A 75% refinance against the £397,500 base GDV indicates £298,125, leaving an indicative £28,675 before those excluded costs. The strategy depends on the tenancy being valid and sustainable, the property supporting the base valuation, and lender acceptance of the tenancy and condition.

Buy-to-Let Analysis

The property is subject to a periodic tenancy stated to produce £2,500 pcm (£30,000 annually). This gives 9.23% gross yield against the £325,000 guide, or 9.18% against the guide plus the known £1,800 admin charge. Rental listings evidence lower advertised asking rents of £1,900–£2,100 pcm, so the passing rent should be verified through the tenancy agreement, rent schedule and bank evidence. Net yield cannot be established because finance, management, maintenance, insurance, voids, tax and other acquisition costs are not supplied.

Flip Analysis

The base GDV is £397,500 against an analysed guide-plus-admin cost of £326,800. No refurbishment allowance or supported selling-cost allowance is available, so a reliable flip surplus cannot be calculated. The £370,000–£425,000 comparable range indicates potential gross headroom, but this is not a net profit estimate and excludes buyer premium, works, finance, tax and sale costs.

Investor Risks & Due Diligence

• The £2,500 pcm rent is stated as current rent but is materially above the supplied advertised asking rents of £1,900–£2,100 pcm and requires verification.

• The property is subject to a periodic tenancy; tenancy terms, possession position, arrears and compliance documents are not supplied.

• Buyer premium, seller-cost reimbursements, legal fees, transfer fees, search fees and other disbursements may be payable but are unquantified.

• No condition or refurbishment evidence is supplied, so works and maintenance costs cannot be estimated.

• The GDV range is based on limited same-street completed sales and is not a formal valuation.

• Finance costs, tax, insurance, management, maintenance and voids are excluded from the yield and refinance calculations.

Recommendation

Prioritise BTL, with BRRR considered only after verifying the periodic tenancy, rent receipts, legal pack and valuation. Do not rely on a flip case without condition and selling-cost evidence.

Strategy Rating

Analysis Confidence

The property description, current rent, tenure, known admin charge and several same-street completed sales are supplied. Confidence is reduced by missing condition, buyer premium, disbursements, council tax, heating, tenancy documentation and formal valuation evidence.