6 Perth Road, Wood Green, London, N22 5RB

Description

A Vacant Three Bedroom Mid Terrace House in Need of Refurbishment. The property comprises a three bedroom mid terrace house arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen. First Floor: Three Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Lordship Recreation Ground are within easy reach. Transport links are provided by Turnpike Lane underground station (Piccadilly line) and Alexandra Palace rail station.

Tenure / Property Information

Investment Analysis

The latest supplied comparable, 20 Perth Road, sold for £555,000 in November 2024. This supports a cautious base GDV of £555,000, but property size, condition and specification differences are unknown. The 2019 sale at £714,000 is materially older and not directly relied upon.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the refurbishment scope, total acquisition costs and achievable rent. The property is potentially suitable for a refurbishment-led BTL or resale, but the guide alone does not establish a safe bid.

Works Required

General refurbishment is required, but the evidence does not specify defects or support a quantified works budget. Obtain a full survey and contractor quotations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR case exists if the property can be refurbished economically and the £555,000 comparable represents achievable post-works value. Refinance at 75% of that indicative GDV would be £416,250, but cash requirements cannot be calculated without works and full fee information.

Buy-to-Let Analysis

The advertised asking rent of £2,750 pcm implies £33,000 annual rent and a 9.43% gross yield against the £350,000 guide. This is not an achieved rent, and total-cost yield cannot be established without refurbishment and other purchase costs.

Flip Analysis

A flip may be viable against the £555,000 indicative GDV, but refurbishment cost, selling costs and special-condition disbursements are unavailable. No reliable flip surplus or maximum bid can therefore be calculated.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unspecified.

• The £2,750 pcm figure is an advertised asking rent, not achieved rent.

• Special-condition fees and disbursements may be payable but are not quantified.

• The EPC is rated E.

• Comparable property size, layout and condition are not supplied.

Recommendation

Proceed only after confirming the refurbishment scope, total acquisition costs and achievable rent. The property is potentially suitable for a refurbishment-led BTL or resale, but the guide alone does not establish a safe bid.

Strategy Rating

Analysis Confidence

There is one recent same-road completed sale and one advertised rental listing, but no property dimensions, detailed condition schedule, works quotations or complete fee schedule.