61 Ching Way, Chingford, London

Description

Vacant long leasehold self-contained ground floor flat with a reception room, bedroom, kitchen, shower room, rear garden and GIA approximately 45.6 sq m (491 sq ft). The vendor will not accept offers prior to auction.

Accommodation

Reception room, bedroom, kitchen and shower room; rear garden; GIA approximately 45.6 sq m (491 sq ft)

Location

The property is situated on the south west side of Ching Way. The shops and amenities of Chingford Mount are to the north. Meridian Water rail station is approximately 1.7 miles to the west. The A406 (North Circular Road) is to the south. Cheney Row Park is to the south.

Tenure / Property Information

Investment Analysis

The £93,000+ guide is the only purchase evidence supplied. No completed sales comparables, GDV evidence, condition assessment or auction fees are provided, so market value and resale value cannot be reliably estimated. The only rental evidence is one advertised asking rent of £725 pcm, which is not an achieved rent.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious income-led purchase subject to inspection, legal-pack review, achievable-rent validation and confirmation of all buyer and seller charges. Do not rely on a flip or BRRR strategy without GDV and works evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance cannot be estimated; inspect the flat, garden and services and review the legal pack before bidding.

Rental & Market Context

Potential BRRR Position

BRRR cannot be reliably assessed because no GDV, refurbishment budget, valuation evidence or finance costs are supplied. The new 990-year lease and peppercorn ground rent are positive stated lease terms, but refinancing capacity remains unquantified.

Buy-to-Let Analysis

At the supplied advertised asking rent of £725 pcm, annual gross rent is £8,700 and the gross yield against the £93,000 guide is approximately 9.35%. This is based on one asking listing rather than achieved rent and excludes finance, maintenance, voids, management, insurance, taxes and unknown auction costs. BTL viability requires confirmation of achievable rent, condition and total acquisition costs.

Flip Analysis

A flip analysis cannot be completed because there are no sold comparables, supported GDV, refurbishment costs or selling-cost allowance. The vacant possession may assist execution, but resale profitability is unproven.

Investor Risks & Due Diligence

• The £725 pcm figure is an advertised asking rent from one listing, not achieved or passing rent.

• No completed sales comparables or supported GDV are provided.

• Condition and refurbishment requirements are unknown.

• Buyer premium, admin charge and other possible auction or third-party costs are unspecified.

• EPC, council tax, parking and heating information are not supplied.

• Special Conditions of Sale and addendum may contain additional obligations or costs and have not been provided.

Recommendation

Consider only as a cautious income-led purchase subject to inspection, legal-pack review, achievable-rent validation and confirmation of all buyer and seller charges. Do not rely on a flip or BRRR strategy without GDV and works evidence.

Strategy Rating

Analysis Confidence

Property particulars, tenure, lease term, vacancy and one advertised rent are supplied, but there are no sold comparables, condition evidence, EPC, council tax, parking/heating details, buyer/admin fees, refurbishment costs or GDV evidence.