617 Mitcham Road, Croydon, Surrey, CR0 3AF

Description

A Vacant Three Bedroom Mid Terrace House. Potential for a Loft Extension (Subject to Obtaining all Relevant Consents)

Accommodation

Ground Floor: Reception Room; Kitchen/Diner. First Floor: Three Bedrooms; Bathroom. Exterior: Rear garden.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Mitcham Common are within easy reach. Transport links are provided by West Croydon overground station and rail station.

Tenure / Property Information

Investment Analysis

The strongest supplied evidence is the completed sale of 633 Mitcham Road, the same road and postcode, at £420,000 in November 2024. Other same-road freehold terraced sales were £405,000 in 2021 and £391,000 in 2021. These comparables do not confirm identical size, condition, specification or extensions, so £420,000 is an indicative base GDV rather than a formal valuation. A lower evidence-supported scenario is £391,000; no reliable high scenario can be established from the supplied data. The £1,800 administration charge is known, while any other disbursements or special-condition costs remain unquantified.

Investment Snapshot

Strategy Recommendation

Treat as a potential value-add or resale opportunity only after viewing, legal-pack review, full works quotations and confirmation of any loft-extension consents. Do not bid on the comparable-value spread alone.

Works Required

Inspect and address only confirmed defects. Review the EPC F rating and obtain quotations for any works required to improve energy performance. Investigate the stated loft-extension potential and obtain all necessary planning/building-control consents before relying on it. No specific structural, kitchen, bathroom or services defects are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A refinance at 75% of the indicative £420,000 base GDV would be approximately £315,000. The BRRR outcome cannot be calculated because refurbishment costs, other completion costs, rent and the actual purchase price are not established. The loft-extension potential is expressly subject to consents and should not be included in value without approval.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent and gross yield cannot be established. The property is vacant and has three bedrooms, but achievable rent, operating costs and condition remain unverified.

Flip Analysis

The latest supplied same-road sale supports an indicative £420,000 base GDV, against a £270,000+ guide. However, no refurbishment budget, confirmed condition, buyer premium, conveyancing costs, disbursements, selling costs or final purchase price are supplied. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• EPC rating F indicates a potentially material energy-performance issue, but required works and cost are unknown.

• The stated loft-extension potential is subject to obtaining all relevant consents and cannot be assumed in the valuation.

• No sufficiently specific rental evidence is available, preventing supported BTL yield analysis.

• The guide is stated as £270,000+ and the final purchase price may exceed it.

• Other disbursements, search fees, sellers’ costs, legal fees or transfer fees may be payable under the legal pack or special conditions.

• Comparable sales may differ in size, condition, specification or extension status from the subject property.

• Vacant possession is stated, but the property’s detailed condition and services have not been evidenced.

Recommendation

Treat as a potential value-add or resale opportunity only after viewing, legal-pack review, full works quotations and confirmation of any loft-extension consents. Do not bid on the comparable-value spread alone.

Strategy Rating

Analysis Confidence

There are several relevant same-road completed sales and a known administration charge, but the property’s size, condition, rental evidence, refurbishment costs, other fees and consent position are not established.