90B Fairview Road, South Tottenham, N15 6TP

Description

A two bedroom first floor flat forming part of an end of terrace building. In need of modernisation.

Accommodation

First Floor - Two Bedrooms, Lounge/Diner, Kitchen, Bathroom/WC.

Location

Located on Fairview Road, accessed off Lealand Road and Gladesmore Road. A range of shopping amenities are available in the centre of Tottenham. The recreational amenities of Markfield Park and Clapton Common are close by. Close proximity and easy access to Stamford Hill, N16. South Tottenham Overground is a short distance away. Road links via the A10. Transport: Seven Sisters - Victoria, Overground, National Rail. South Tottenham - Overground.

Tenure / Property Information

Investment Analysis

The only directly comparable evidence is 94B Fairview Road, a leasehold flat in the same postcode, sold for £375,000 on 7 September 2020. Earlier Fairview Road sales range from £162,000 to £235,000 between 2007 and 2014, but these are materially dated. A base GDV of £375,000 is therefore a reference estimate only, not a current valuation. The subject requires modernisation and no current comparable, floor-area, condition-cost or buyer-fee evidence is supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain a current valuation, detailed refurbishment quotation, lease and special-conditions review, buyer-fee confirmation and rental evidence before considering a purchase.

Works Required

Modernisation of the vacant two-bedroom flat, based on the auction description. The evidence does not specify the required items, extent of works or costs, so no detailed schedule or budget can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £375,000 2020 same-road comparable as a provisional GDV, 75% refinancing would equal £281,250. This is below the £295,000 guide before buyer fees, VAT and refurbishment, so the refinance would not cover the guide price alone. Total project cost and cash requirement cannot be calculated reliably.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The guide is £295,000 before an unstated buyer fee and any applicable VAT, while refurbishment costs are also unknown.

Flip Analysis

A flip assessment cannot be completed because refurbishment costs, selling costs and a current resale comparable are not supplied. The £375,000 GDV reference is based on a 2020 sale and should not be treated as a current formal valuation.

Investor Risks & Due Diligence

• The main comparable sale is from 2020 and may not represent current market value.

• The flat requires modernisation, but the scope and cost of works are unknown.

• Buyer fee is unstated and VAT may apply.

• No rental evidence is available, preventing reliable yield analysis.

• Leasehold service charges, ground rent and other lease terms are not supplied.

• Seller's special conditions may contain additional charges or obligations.

Recommendation

Do not bid on the supplied evidence alone. Obtain a current valuation, detailed refurbishment quotation, lease and special-conditions review, buyer-fee confirmation and rental evidence before considering a purchase.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, guide and historic same-road sales are available, but there is no current comparable, rental evidence, refurbishment budget, buyer fee, service-charge information or selling-cost allowance.