Flat 2, 3 Cottage Road, Highbury, London, N7 8TP

Description

A First Floor Two Bedroom Flat Subject to a Periodic Tenancy Producing £34,200 Per Annum

Accommodation

First Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Caledonian Park are within easy reach. Transport links are provided by Caledonian Road underground station (Piccadilly line) and Drayton Park rail station.

Tenure / Property Information

Investment Analysis

The strongest supplied comparable is £475,000 recorded on 6 February 2026 for 3 Cottage Road, although it is not expressly identified as Flat 2. Other supplied sales at the address range from £307,500 to £345,000 between 2022 and 2024. A base GDV of £475,000 is therefore used cautiously, with a lower evidence scenario of £345,000. The subject is currently let at £34,200 per annum (£2,850 pcm), subject to verification of the periodic tenancy and legal pack.

Investment Snapshot

Strategy Recommendation

Consider as a hold-to-let only if the periodic tenancy, rent, legal title, service charges and property condition are satisfactorily verified. Do not rely on a BRRR or flip strategy at the £380,000 guide without further cost and valuation evidence.

Works Required

No refurbishment defects or required works are evidenced. Undertake inspection and legal-pack review, verify the tenancy, lease, service charge and compliance position, and complete only any works identified through those checks.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious £475,000 base GDV, 75% refinance is estimated at £356,250. This is £25,550 below the £380,000 guide plus the known £1,800 administration charge, before any works, disbursements, finance costs or other acquisition costs. On the supplied evidence, a full BRRR cash-out is therefore not demonstrated.

Buy-to-Let Analysis

At the £380,000 guide, the stated £34,200 annual rent implies a 9.00% gross yield before finance, management, maintenance, service charge, voids, tax and acquisition costs. The rent is an auctioneer/property statement rather than independently evidenced achieved rent; rental listings supplied range from £2,100 to £3,180 pcm, with a specific vacant-and-rent-ready listing at £3,000 pcm. Tenancy terms, arrears and rent payment history require verification.

Flip Analysis

A flip assessment cannot be reliably quantified because refurbishment costs, buyer costs beyond the known administration charge, finance costs and selling costs are not supplied. The £475,000 GDV estimate is also based on a comparable described as 3 Cottage Road rather than expressly Flat 2. The available evidence does not establish a supported resale surplus.

Investor Risks & Due Diligence

• The £475,000 latest comparable is recorded for 3 Cottage Road and is not expressly identified as Flat 2.

• The property is subject to a periodic tenancy; rent, arrears, tenant status and tenancy documentation require verification.

• Buyer costs are incomplete: only the £1,800 administration charge is supplied, while disbursements and other legal or transfer costs may apply.

• No condition or refurbishment information is supplied.

• Leasehold service charge, ground rent and other lease liabilities are not supplied.

• Rental listings are asking rents and are not achieved-rent evidence.

Recommendation

Consider as a hold-to-let only if the periodic tenancy, rent, legal title, service charges and property condition are satisfactorily verified. Do not rely on a BRRR or flip strategy at the £380,000 guide without further cost and valuation evidence.

Strategy Rating

Analysis Confidence

There is useful rent, tenancy, lease, guide-price and local sales evidence, but the sales are not expressly confirmed as the subject flat and buyer costs, disbursements, service charges, condition and refurbishment requirements are incomplete.