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Illingworth Close, Mitcham, CR4 - Image 1
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Illingworth Close, Mitcham, CR4

South East

£230,000
Listed on 07/01/2025

Property Details

Bedrooms
1
Type
Flat
Area
534 sqft

Description

This one-bedroom top-floor flat in Illingworth Close, Mitcham, presents an excellent opportunity for those interested in a renovation project. With its spacious layout, the property includes a generous reception room that opens onto a balcony, providing an inviting place to relax outdoors. The fitted kitchen is functional and awaits modernization, allowing for a personalized touch. The double bedroom offers ample space for furnishings, while additional storage solutions are available throughout the flat. The bathroom is ready for updates, serving as another area to enhance the overall appeal of the home. Situated in a location that balances convenience with potential, this property is ideal for first-time buyers or investors looking to capitalize on its renovation possibilities. With some thoughtful updates and personal flair, this flat can be transformed into a stylish living space that reflects modern tastes and comforts. Its investment potential is heightened by the demand in the area, making it a compelling option for those prepared to invest time and resources into revitalization.

Investment Analysis

(CR4 area)

Below Market Value

This property is priced -14.0% below area average per sq ft

-14.0%
Potential saving
This Property
£431/sq ft
Area Average
£501/sq ft
Avg Rent (weekly)
£422
Avg Yield
5.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£294,287
10% above area average per sq ft
Potential ROI
+15.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
28
Average per month
Market Turnover
9%
Properties sold annually

Local Market Trend (CR4)

Area prices are rising by +8.9% over the last 12 months
3 year growth: 7.8%
5 year growth: 12.9%
Investment Disclaimer: Analysis based on CR4 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Illingworth Close, Mitcham, CR4
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£843
Based on a loan of £172,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE