38 Rochester Drive, Watford, Hertfordshire, WD25 9BJ

Description

A Vacant Second Floor One Bedroom Flat. The property comprises a second floor one bedroom flat situated within a purpose built block arranged over ground and two upper floors.

Accommodation

Second Floor: Reception Room, Kitchen, Bedroom, Bathroom.

Location

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

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £195,000 to £207,000, with the two latest sales at £205,000 and £207,000. However, bedroom count, condition and lease terms of the comparables are not supplied; the subject has approximately 66 years unexpired, so applying the full range carries uncertainty.

Investment Snapshot

Strategy Recommendation

Do not bid without confirming the lease position, legal-pack costs, condition and achievable rent. The opportunity is not currently underwritable as BTL, BRRR or a flip.

Works Required

No specific works are evidenced. Inspect the flat and lease before bidding; only evidenced or legally required works should be budgeted.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV of £205,000, a 75% refinance is approximately £153,750. Total project cost cannot be calculated because refurbishment, disbursement and other potential buyer costs are unspecified.

Buy-to-Let Analysis

The flat is vacant and no sufficiently specific rental evidence or auctioneer rent estimate is provided. Rent and gross yield cannot therefore be established. The 66-year lease may affect mortgageability, resale and value.

Flip Analysis

The comparable evidence indicates a potential base GDV of £205,000, but no refurbishment budget, resale allowance or complete acquisition-cost figure is available. Flip profit cannot be reliably calculated.

Investor Risks & Due Diligence

• Approximately 66 years remain on the lease.

• No rental evidence is available to establish yield.

• Property condition and refurbishment requirements are not evidenced.

• Buyer disbursements and other special-condition charges are unknown.

• Comparable bedroom counts and lease terms are not supplied.

Recommendation

Do not bid without confirming the lease position, legal-pack costs, condition and achievable rent. The opportunity is not currently underwritable as BTL, BRRR or a flip.

Strategy Rating

Analysis Confidence

Recent same-road completed sales support a broad GDV range, but rental evidence, condition, comparable lease details, refurbishment costs and full purchase costs are missing.