Flat B, 24 Foulden Road, Stoke Newington, London, N16 7UR

Description

A two bedroom first floor flat. The property forms part of an attractive converted mid terrace building. In need of modernisation. Vacant.

Accommodation

First Floor - Entrance Hallway, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.

Location

The property is situated on Foulden Road in Stoke Newington, within the London Borough of Hackney. Local shops and everyday services are available along Stoke Newington High Street and Church Street, with further amenities accessible in nearby Dalston and Hackney Central. Recreational amenities include nearby open spaces such as Clissold Park and Hackney Downs Park. Transport links include Rectory Road and Stoke Newington railway stations and road access via the A10 and A503. Transport Dalston Kingsland - Mildmay. Dalston Junction - Windrush.

Tenure / Property Information

Investment Analysis

The supplied comparables are on Foulden Road but show materially different prices (£483,000 to £945,000), with no bedroom count, floor area, condition or accommodation detail to establish which are genuinely comparable to this vacant two-bedroom flat. The property needs modernisation, and buyer, seller and VAT-related charges are not quantified. A supported GDV, rent, refurbishment budget or maximum bid cannot therefore be established from the evidence provided.

Investment Snapshot

Strategy Recommendation

Do not bid on the guide price without reviewing the legal pack, confirming the new-lease terms, inspecting the modernisation requirement and obtaining a specific local valuation and rental assessment.

Works Required

Modernisation of the flat as supported by the description. The exact scope, specification and cost cannot be established without an inspection and further legal-pack information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because the post-works value, refurbishment cost, achievable rent and total acquisition costs are unsupported. The proposed new 990-year lease is noted, but the legal-pack terms have not been supplied.

Buy-to-Let Analysis

The flat is vacant and no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent and gross yield cannot be established. The guide also excludes the buyer's fee and potentially applicable VAT, while other seller charges may apply.

Flip Analysis

A flip appraisal cannot be reliably calculated. Although same-road sales are provided, their wide range and missing size, bedroom and condition details prevent a supported resale value. No selling allowance or refurbishment budget is supplied.

Investor Risks & Due Diligence

• Same-road comparable prices vary substantially and are not sufficiently detailed to support a valuation.

• The property is described as needing modernisation, but the scope and cost are unknown.

• Buyer fees, VAT applicability and possible seller charges are not quantified.

• The new 990-year lease and its detailed terms require legal-pack review.

• No sufficiently specific rental evidence is available, so income and yield are unverified.

Recommendation

Do not bid on the guide price without reviewing the legal pack, confirming the new-lease terms, inspecting the modernisation requirement and obtaining a specific local valuation and rental assessment.

Strategy Rating

Analysis Confidence

The evidence confirms the property type, vacancy, leasehold tenure, guide price and broad condition, but lacks floor area, detailed condition, lease-pack terms, rent evidence, refurbishment costs and quantified fees. The comparables are inconsistent and insufficiently detailed.