6 Cedar Avenue, Waltham Cross, EN8 8AU

Description

A three bedroom terraced house, in need of modernisation. The property benefits from a front and rear garden. Extension potential subject to requisite consents. Well located for the amenities of Waltham Cross. Vacant.

Accommodation

Ground Floor - Lounge, Dining Room, Kitchen, Conservatory. First Floor - Three Bedrooms, Bathroom/WC.

Location

Located on Cedar Avenue, accessed off Hedworth Avenue. A range of shopping amenities are available in the centre of Waltham Cross. The recreational amenities of Cedars Park and River Lee Country are nearby. Road links via the M25 and A10. Transport: Waltham Cross Station - National Rail; Thobalds Grove - Overground.

Tenure / Property Information

Investment Analysis

Two supplied same-street completed sales provide the strongest evidence: £390,000 on 16 August 2024 and £425,000 on 18 July 2025, both terraced freeholds. A base GDV of £407,500 is estimated as the midpoint, with a supported evidence range of £390,000–£425,000. The comparison is limited because the condition and specification of the sold properties are not supplied, while this property is described as needing modernisation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal-pack review and a priced modernisation schedule. The guide-to-comparable value gap and indicated rent are attractive, but the bid ceiling cannot be set responsibly without works and auction-cost evidence.

Works Required

Modernisation is required, but no detailed schedule or condition report is supplied. The works scope, cost and any extension works cannot be quantified from the evidence. Any extension remains subject to the requisite consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the estimated 75% refinance of the £407,500 base GDV is £305,625. However, total project cost and cash left in cannot be calculated because the modernisation allowance, buyer fee, VAT position and seller charges are unknown. The strategy requires a detailed inspection, legal-pack review and reliable works budget.

Buy-to-Let Analysis

The two rental listings indicate an advertised asking rent of £2,000 pcm, equivalent to £24,000 annually. This produces a gross yield of 10.43% against the £230,000 guide, before refurbishment, buyer fees, VAT, finance, maintenance, voids and other costs. Yield on total project cost cannot be established because refurbishment and auction charges are not quantified. Asking rent is not achieved or passing rent evidence.

Flip Analysis

The supplied comparable evidence supports a base resale value estimate of £407,500, versus the £230,000 guide. A net flip surplus cannot be calculated because refurbishment costs, buyer charges, VAT and selling costs are not supplied. The apparent value gap should not be treated as profit.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but no detailed condition or works-cost evidence is supplied.

• The guide excludes the buyer fee, whose amount is not stated.

• VAT may apply and seller charges may exist under the Special Conditions of Sale.

• The two rent figures are advertised asking rents, not achieved or passing rents.

• Extension potential is subject to the requisite consents.

• EPC, council tax, parking and heating details are not supplied; the legal pack should be reviewed.

Recommendation

Proceed only subject to inspection, legal-pack review and a priced modernisation schedule. The guide-to-comparable value gap and indicated rent are attractive, but the bid ceiling cannot be set responsibly without works and auction-cost evidence.

Strategy Rating

Analysis Confidence

Same-street completed sales and two advertised rental listings are available, but property condition, refurbishment costs, buyer/admin fees, VAT, seller charges and legal-pack information are incomplete.