26 Streamside Close, Edmonton

Description

A self-contained second floor flat requiring modernisation in a purpose-built block.

Accommodation

Entrance Hall; Living Room; Kitchen; Bedroom; Bathroom/WC.

Location

Situated on Streamside Close, close to local shopping and travelling facilities including Edmonton Green Train Station. Pymmes Park and Jubilee Park are also nearby.

Tenure / Property Information

Investment Analysis

The four 2024–2025 sold comparables excluding the £360,000 outlier range from £182,000 to £220,000, with an average of approximately £202,000. A base GDV of £202,000 is used, subject to the flat’s modernisation condition, specification and any leasehold charges, which are not provided.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a BTL or BRRR strategy only if the modernisation scope, leasehold charges and purchase price remain acceptable. Do not rely on the headline yield without obtaining a survey, lease information and refurbishment quotations.

Works Required

Modernisation is required, but the evidence does not specify the scope or condition of individual elements. Obtain a survey and contractor quotations before bidding; no refurbishment allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £120,000 guide, the £1,500 buyer fee gives a known pre-works acquisition cost of £121,500. A 75% refinance of the £202,000 base GDV would be approximately £151,500, but cash left in cannot be calculated because refurbishment costs, seller fees and other project costs are unknown. The refinance outcome also depends on the achieved valuation and lender criteria.

Buy-to-Let Analysis

Advertised asking rents of £1,349–£1,450 pcm imply approximately £16,188–£17,400 annual gross rent. Using the midpoint rent and the £120,000 guide gives an indicative gross yield of approximately 14.0%, before refurbishment, finance, service charges, management, voids and other costs. Yield on total cost cannot be established because refurbishment costs and leasehold charges are unavailable. Asking rents are not achieved rents.

Flip Analysis

The base GDV is estimated at £202,000 from the supplied sold comparables. A flip surplus cannot be calculated because refurbishment costs, selling costs and any additional seller fees are not provided. The £360,000 comparable is materially above the main evidence cluster and has not been used in the base estimate.

Investor Risks & Due Diligence

• Modernisation scope and refurbishment cost are unknown.

• Leasehold service charge, ground rent and other lease obligations are not provided.

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

• Rental figures are advertised asking rents rather than achieved or passing rents.

• Sold comparables vary materially, including a £360,000 outlier, creating valuation uncertainty.

• The £1,500 buyer fee is payable in addition to the purchase price and the deposit and buyer fee are due within 24 hours of the auction date.

Recommendation

Potentially suitable for a BTL or BRRR strategy only if the modernisation scope, leasehold charges and purchase price remain acceptable. Do not rely on the headline yield without obtaining a survey, lease information and refurbishment quotations.

Strategy Rating

Analysis Confidence

There are several relevant sold comparables and rental listings, but the property’s size, condition detail, refurbishment cost, service charges, ground rent, seller fees and achieved rental evidence are unavailable.