413 Whitehorse Road, Thornton Heath, Surrey CR7 8SD

Description

A vacant two-bedroom mid-terrace house with two reception rooms and kitchen on the ground floor, two bedrooms and bathroom above, plus a rear garden. Freehold.

Location

Whitehorse Road is close to Thornton Heath town-centre amenities, Thornton Heath Recreation Ground and Thornton Heath rail station.

Investment Analysis

Investment Snapshot

Property & Refurbishment

I would initially allow £20,000–£35,000 for the works indicated by the listing, investor-grade finishing and contingency. This is an HB/AI feasibility allowance rather than a contractor quotation and should be replaced by survey and itemised trade pricing before bidding.

Rental Analysis

For sensitivity testing I would use an HB market-rent estimate of £1,650–£1,850 pcm. This equates to approximately £19,800–£22,200 per annum and 11.0%–12.3% gross on the guide. At midpoint rent and works, gross yield on guide plus works is about 10.1% before finance, management, maintenance, insurance, compliance, voids and tax.

GDV / Resale Analysis

For feasibility I would use an indicative £330,000–£380,000 completed-value range. This is an AI-assisted investment appraisal estimate and not a formal RICS valuation. Using midpoint assumptions gives an estimated completed value of about £355,000 against guide-plus-midpoint-works of approximately £207,500.

Properties Sold Within Approx. 5 Miles

Recent same-postcode terraced sales cluster around £320,000–£375,000. Because the subject is two-bedroom, I would avoid relying on the upper end without matching floor area and condition.

Potential BRRR Position

At the midpoint GDV of approximately £355,000, a purely illustrative 75% LTV refinance would be around £266,250. Against guide plus midpoint works of approximately £207,500, this should be viewed only as a sensitivity test; lender valuation, construction, lease length, rental stress tests and borrower criteria determine the actual refinance.

Flip Analysis

A resale strategy should be tested against the conservative end of the £330,000–£380,000 GDV range and must deduct acquisition tax, the £1,800 auction administration charge, legal fees, finance, holding costs, refurbishment, contingency and selling costs. Headline uplift is not the same as net profit.

Investor Risks & Due Diligence

• Check the legal pack, title and all additional disbursements.




• Obtain a full building survey and contractor quotations.




• Verify achievable rent against current completed lettings.




• Verify GDV against recent like-for-like sold evidence.

Recommendation

Preferred strategy: BRRR / Refurbishment & Resale. The final decision should be based on verified works costs, rent, legal position and comparable-supported end value rather than guide price alone.

Strategy Rating

BRRR: ★★★★☆

Buy-to-Let: ★★★★☆

Flip: ★★★★☆

Development: ★★☆☆☆