6 Grove Gardens, Enfield, EN3 5PG

Description

Situated in a cul-de-sac off Eastfield Road, close to local shopping/travelling facilities including Turkey Street and Enfield Lock Train Stations. Albany Park is also nearby. A Semi-Detached House requiring modernisation. Note: There may be potential for a loft conversion and rear extension subject to the necessary consents being obtained.

Accommodation

Two floors. First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three), Bathroom/WC. Ground Floor: Entrance Hall, Living Room, Dining Room, Kitchen, Utility Room. Front Garden. Garden at Rear with Shed.

Location

Situated in a cul-de-sac off Eastfield Road, close to local shopping/travelling facilities including Turkey Street and Enfield Lock Train Stations. Albany Park is also nearby.

Tenure / Property Information

Investment Analysis

Five same-road completed sales range from £425,000 to £455,000, averaging approximately £441,999. The three most recent sales average approximately £434,332. Allowing for the subject property's stated need for modernisation, a base GDV of £435,000 is used, with an evidence-based low-to-high range of £425,000 to £455,000. This is not a formal valuation and no inspection evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after an inspection, measured works schedule and confirmation of all special-condition fees. The opportunity may suit a refurbishment-led BTL or flip, but the absence of cost evidence makes a firm bid or strategy selection premature.

Works Required

Modernisation is required, but the evidence does not identify specific defects or provide a costed scope. Inspect and budget the kitchen, bathroom, decoration, flooring, services and external areas only where required. Investigate the suggested loft conversion and rear extension separately; both are subject to necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £435,000, 75% refinance is approximately £326,250. The property is vacant and requires modernisation, but no refurbishment budget or full acquisition-cost figure is supplied. Consequently, cash left in, equity requirement and BRRR viability cannot be reliably calculated.

Buy-to-Let Analysis

The supplied advertised asking rent is £2,300 pcm, equivalent to £27,600 annually. Against the £270,000 guide, the headline gross yield is approximately 10.22%; against the £435,000 base GDV, it is approximately 6.34%. The rent is an advertised asking figure rather than achieved rent, and refurbishment, buyer-cost and seller-cost impacts are not quantified, so a net or total-cost yield cannot be established.

Flip Analysis

The evidence supports a base resale value of approximately £435,000, with a £425,000-£455,000 comparable range. A flip surplus cannot be calculated because refurbishment, acquisition, finance, selling and any applicable seller costs are not quantified. The guide-to-GDV spread alone should not be treated as profit.

Investor Risks & Due Diligence

• The house is stated to require modernisation, but the extent and cost of works are unknown.

• The suggested loft conversion and rear extension require the necessary consents and are not assumed in the valuation.

• The £2,300 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The seller may charge additional completion fees under the special conditions, but the amount is not supplied.

• EPC rating E may require consideration when planning the refurbishment and future letting strategy.

Recommendation

Proceed only after an inspection, measured works schedule and confirmation of all special-condition fees. The opportunity may suit a refurbishment-led BTL or flip, but the absence of cost evidence makes a firm bid or strategy selection premature.

Strategy Rating

Analysis Confidence

The analysis has five relevant completed same-road sales and one advertised rental listing, but lacks inspection findings, quantified refurbishment costs, achieved rent evidence, finance costs and confirmation of any additional seller fees.