Worst House on the Street Logo
Melvin Road, Penge, London SE20 - Image 1
Melvin Road, Penge, London SE20 - Image 2
Melvin Road, Penge, London SE20 - Image 3
Melvin Road, Penge, London SE20 - Image 4
Melvin Road, Penge, London SE20 - Image 5
Melvin Road, Penge, London SE20 - Image 6
Melvin Road, Penge, London SE20 - Image 7
Melvin Road, Penge, London SE20 - Image 8
Melvin Road, Penge, London SE20 - Image 9
Melvin Road, Penge, London SE20 - Image 10
Melvin Road, Penge, London SE20 - Image 11
Melvin Road, Penge, London SE20 - Image 12
Melvin Road, Penge, London SE20 - Image 13
Melvin Road, Penge, London SE20 - Image 14

Melvin Road, Penge, London SE20

London

£255,000

Listed on 10/05/2026

Property Details

Bedrooms
2
Type
Flat
Area
663 sqft

Description

This two-bedroom flat, located on the top floor of a charming low-rise block, presents an exciting opportunity for investors and renovators alike. While the property is bright and spacious, it requires modernisation to unlock its full potential. The generous lounge area exceeds 19ft by nearly 13ft, providing ample space for reimagining a contemporary living environment. The kitchen offers plenty of room for cooking and storage, while the bathroom features a three-piece suite that could benefit from rejuvenation. Outside, residents can enjoy a well-maintained communal lawn—a serene escape in this lively part of London. With a long lease and modest service charges, this property represents a low-cost investment option. Conveniently located near shops, cafes, and excellent transport links to central London via Penge East and Penge West stations, as well as being close to Crystal Palace Park and bustling local centres, it promises both comfort and accessibility. This flat is truly a blank canvas awaiting your creative touch.

Investment Analysis

(SE20 area)

Below Market Value

This property is priced -28.9% below area average per sq ft

-28.9%
Potential saving
This Property
£385/sq ft
Area Average
£541/sq ft
Avg Rent (weekly)
£382
Avg Yield
5.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£394,405
10% above area average per sq ft
Potential ROI
+40.9%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
20
Average per month
Market Turnover
10%
Properties sold annually

Local Market Trend (SE20)

Area prices are stable by +1.6% over the last 12 months
3 year growth: +6.6%
5 year growth: +6.2%
Investment Disclaimer: Analysis based on SE20 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

Melvin Road, Penge, London SE20
Loading map...

Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.97%

Current average variable rate is 6.59%

Monthly Repayments
£910
Based on a loan of £191,250 over 30 years at 3.97% 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.

Stamp Duty Calculator

Price History

-10.5% since listed
£255,000£30,000(-10.5%)
25/04/2026
Current price
£285,000Initial listing
28/03/2026

Next Steps

Explore services to help you with this property purchase.

Get help with this property

Financing, surveys and more – choose a service and we’ll connect you with our trusted partners.