71 Farmer Road, Leyton, London

Description

A two-storey end of terrace house in need of modernisation, with potential to extend subject to requisite consents, and a rear garden.

Accommodation

Ground Floor: Entrance Hall, Two Reception Rooms, Kitchen (not fitted), WC. First Floor: Two Bedrooms (one with en-suite).

Location

Located near the junction of Farmer Road and Coopers Lane. An extensive range of shopping facilities can be found nearby in the centres of Leyton and Walthamstow. Recreational amenities of Leyton Jubilee Park and Hackney Marshes are within close distance. Transport includes Leyton Midland Road Overground station and Leytonstone Underground station on the Central Line.

Tenure / Property Information

Investment Analysis

The five supplied Farmer Road freehold terraced comparables range from £515,000 to £703,000. A base GDV of £560,000 uses the £560,000 comparable as the closest simple evidence point, while £515,000 and £655,000 are used as low and high scenarios. The subject requires modernisation and has a non-fitted kitchen, so the evidence does not support assuming the higher comparable values without refurbishment-cost and specification information.

Investment Snapshot

Strategy Recommendation

Potential value-add BTL or BRRR, subject to survey, confirmed auction charges, refurbishment pricing and achievable rent. Do not rely on the apparent GDV spread alone when setting a bid.

Works Required

Modernisation of the house, including fitting the kitchen where currently not fitted and addressing any other defects identified by survey. Extension potential is noted, but no value or works allowance is assumed because requisite consents and construction costs are unknown.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £375,000 guide, the purchase price is below the £560,000 base GDV indication, and 75% of base GDV is £420,000. However, refurbishment cost, buyer premium, VAT, finance costs and other acquisition costs are unavailable, so the required cash input and post-refinance cash position cannot be calculated reliably.

Buy-to-Let Analysis

The two advertised two-bedroom rents support a rental range of £1,900–£2,200 pcm, equivalent to an indicative gross yield of 6.08%–7.04% on the £375,000 guide. These are asking rents rather than achieved rents, and refurbishment, finance, auction buyer fees, VAT and other charges are unknown, so net yield and cash flow cannot be established.

Flip Analysis

The supplied comparables indicate potential resale value between £515,000 and £655,000, with a £560,000 base case. A flip surplus cannot be calculated because refurbishment, acquisition, finance and selling costs are not provided.

Investor Risks & Due Diligence

• The property requires modernisation and the kitchen is not fitted, but the refurbishment budget is unknown.

• The guide price excludes an unstated buyer fee, and VAT or seller charges may apply.

• Rental evidence comprises advertised asking rents rather than achieved rents.

• Extension potential is subject to requisite consents and no extension value is assumed.

• The subject's exact condition, floor area, EPC, heating and council tax information are unavailable.

• Finance, purchase, refurbishment and selling costs prevent reliable total-cost and profit calculations.

Recommendation

Potential value-add BTL or BRRR, subject to survey, confirmed auction charges, refurbishment pricing and achievable rent. Do not rely on the apparent GDV spread alone when setting a bid.

Strategy Rating

Analysis Confidence

There are multiple same-road completed-sale comparables and two rental listings, but property condition detail, refurbishment costs, auction fees, EPC, running costs and achieved rent evidence are incomplete.