FLIP · Property AnalysisAnalysis for 10 Tilney Road, Dagenham, RM9 6HP. This property is a prime candidate for a light-to-mid refurbishment flip, given its auction status and current dilapidated state.
This 3-bed terraced house presents a strong flip opportunity. The property is currently in poor condition (EPC F, missing kitchen, signs of damp) allowing for significant value add. With a projected profit exceeding £100k, this is a viable short-term project. Strategy: Purchase, full cosmetic/functional refurb, and exit to owner-occupiers.
The Dagenham (RM9) market for 3-bedroom terraced houses is active. Similar properties in the vicinity are trading between £350,000 and £425,000. Specifically, recent sales like 81 Cartwright Road (£347,500) and 24 Coleman Road (£365,000) demonstrate a solid floor. A modernised, high-spec finish will place this property towards the upper end of the local bracket. We assume a conservative ARV of £380,000 to ensure safety margins. The refurbishment will add value by converting a "non-habitable" state (missing kitchen, old decor) into a "turn-key" family home.
| Metric | Value |
|---|---|
| Estimated ARV | £380,000 |
| Confidence | High |
Note: Analysis includes buyer profile assumptions (First-time buyer status, £40k deposit, 3% bank fee, 1% monthly interest for 6 months).
This is an auction property with vacant possession, clear signals of a motivated seller (likely estate clearance or investor offloading). The guide price of £200,000 is attractive for this post-code.
The primary risk is the unknown extent of structural damp or wiring/plumbing issues typical in older terraced stock. A robust survey is mandatory. Budgeting for contingencies is key.
Certainty: 1%. Attempting to add a bedroom (loft conversion) is not recommended. The footprint is standard, and the ROI will be diluted by the extra cost/time compared to a standard cosmetic flip.
Estimated floor area: 800 sq ft (approx 74 sqm) based on standard 3-bed terraced configuration in the area.
This is a solid project for an investor with a reliable contractor team. The property is in a state of disrepair that naturally suppresses the price, which is exactly what we want for a flip. The local market for 3-bed family homes is robust. Recommendation: Proceed with an aggressive bid at auction, but maintain a hard cap of £230k to ensure the 41.3% ROI target is met. Address the damp immediately to prevent escalating costs. Focus on a high-quality finish in the kitchen and bathroom, as these are the primary drivers for buyers in this bracket.
Strong Buy. A classic 'distressed' flip with excellent profit margins (41.3% ROI). Cap your bid at £230k and execute a 11-week intensive renovation.