Oldchurch Gardens, Romford: a one bed flat that stacks

The valuation, and every comparable behind it

25 of 100 pulled comparables drove the valuation, with a matched median of £240,000. The price per square foot cross-check implies £225,108 for this floor area.

This valuation is based on 37 recently sold properties near this 1-bedroom Ground flat (507 sqft). We found 9 sold ground flats within 50 sqft of this property's size. Not enough upper-quartile comparables to isolate, so all tight-size sales were used. Confidence reduced accordingly. Key examples: Flat 28, Lux Building, Maxwell Road, 495 sqft, £220,000; Flat 110, Pulse Court, Maxwell Road, 527 sqft, £222,000; Flat 74, Pulse Court, Maxwell Road, 495 sqft, £230,000. Based on these comparables, a refurbished 1-bedroom ground flat (507 sqft) in this area is valued at £230,178. This is the median of the comparable evidence, the point at which half the comparable sales sit above and half below. Confidence: moderate. The purchase price is £170,000, which is £61,111 (26.4%) below this post-refurb valuation. This gap represents the potential uplift from purchasing below market value and refurbishing. The comparable sales confirm the market supports a higher price once the property is brought to a good standard. Median price per sqft of 21 comparable sales of the same property type x the 507 sqft floor area, high confidence. Comparable evidence spans £219,024 to £246,909 (middle half of comp-implied values). 4 outlier comps excluded before valuing. Premium withheld: modelled refurb of £9,526 is below the £10,000 threshold, so the valuation is not uplifted for a refurbished finish.

The refurbishment, room by room

Total £9,526 including VAT: rooms £2,783, energy works £4,059, overheads £1,443, with a 15% contingency carried.

• Kitchen10 costed items · £1,737
• Bathroom10 costed items · £1,045

The rent, with its evidence

Market rent today £1,400/month (£1,313 to £1,439), post-refurbishment estimate £1,400/month, a stated premium of 0%, from 10 matched comparable lets. Confidence 86%.

10 comparable rental listings were identified near this property, matched on property type, bedroom count, and proximity, with 8 already let and confirming achievable rents in the current market. The comps indicate a median of £1400/month for properties of this type and size. Post-refurb rental estimate: £1400/month (£16800/year).