Flat C, 32 Navarino Road, Hackney, London

Description

A two bedroom first floor flat forming part of a converted mid terrace building. In need of some modernisation. Vacant.

Accommodation

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

Location

Located on Navarino Road, between Graham Road and Richmond Road. Amenities are available nearby along Amhurst Road, Mare Street and Lower Clapton Road. Recreational amenities of Hackney Downs Park, London Fields, Hackney Marshes and Victoria Park are all easily accessible. Transport: Hackney Downs - Weaver / Greateranglia; Hackney Central - Mildmay.

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £370,000 to £872,990, but the evidence gives no floor areas, bedroom counts, condition details or lease terms for the comparables. A reliable subject-specific GDV or valuation range cannot therefore be established. The £280,000 guide appears below the reported comparable range, but this should not be treated as evidence of a specific discount or profit opportunity.

Investment Snapshot

Strategy Recommendation

Potentially investigate as a buy-to-let at the guide, subject to confirming the legal pack, lease terms, service charges, achievable rent and the extent and cost of modernisation. Do not rely on a flip or BRRRR strategy without a survey, comparable review and full fee schedule.

Works Required

Modernisation of the vacant flat as required, based only on the description. The evidence does not specify which elements require work or provide a cost allowance, so refurbishment costs cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The low guide and reported same-road sales may indicate potential value, but the comparables are not sufficiently detailed to establish GDV. Refurbishment costs and buyer charges are also unknown, so refinance proceeds, equity requirement and cash left in cannot be calculated reliably. The new 990-year lease is subject to the legal pack.

Buy-to-Let Analysis

Using the advertised conventional rental evidence of £2,100–£2,600 pcm, the indicative gross yield on the £280,000 guide is approximately 9.00%–11.14%; the midpoint rent of £2,350 pcm produces £28,200 annual rent and a 10.07% gross yield. These are based on asking rents, not achieved or guaranteed rent. Net yield cannot be established because works, buyer fees, VAT, service charges, finance and other costs are not supplied.

Flip Analysis

A flip appraisal cannot be completed reliably. Although reported same-road sales range from £370,000 to £872,990, there is insufficient evidence to match those sales to this two-bedroom flat, and refurbishment, acquisition, selling and tax costs are not provided.

Investor Risks & Due Diligence

• The sold comparables lack size, bedroom, condition and lease information, limiting meaningful valuation analysis.

• The flat needs some modernisation, but the scope and cost of works are unspecified.

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

• Rental figures are advertised asking rents rather than achieved or passing rents.

• The new 990-year lease and associated terms require legal-pack verification.

• No service charge, ground rent, council tax or parking information is supplied.

Recommendation

Potentially investigate as a buy-to-let at the guide, subject to confirming the legal pack, lease terms, service charges, achievable rent and the extent and cost of modernisation. Do not rely on a flip or BRRRR strategy without a survey, comparable review and full fee schedule.

Strategy Rating

Analysis Confidence

The property description, guide, occupancy, lease grant, rental asking evidence and completed sales are supplied, but comparable specifications, condition costs, buyer charges, service charges and legal-pack details are missing.