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See how verdicts work1-bedroom flat · SG6 1DL
Sold STCListed 32 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This One Bedroom apartment is located on the first floor of a small modern block, which in turn forms part of a development of houses built in 1986, running adjacent to a popular park in one of Letchworth's more desirable areas.
The current tenant has kept the property in good decorative order throughout and features include a fully fitted kitchen, good size lounge and modern bathroom.
There is also an allocated parking space at the front with visitors parking at the rear. The service charge is £1,300 per annum and the Ground Rent £100.
The current rental income is £9,600, which based on the asking price of £130,000, would provide a gross yield of 7.5% with potential to increase to at least £10,800 per year in line with market rents, which would then increase the yield to over 8%.The selling price is considerably under market value with 1 bedroom flats in the area selling on average at around£170,000.
The current landlord would consider offers too, based on a swift, cash transaction.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Pascal Way, Letchworth Garden City
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