According to the public record, 40 Colvern House, Romford is a modern leasehold apartment with 495 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms with a balcony.
The apartment is in Colvern House, Spring Gardens, Romford, RM7.
Spring Gardens, Romford, RM7 is located in the borough of Havering within the RM7 postal district.
40 Colvern House, Romford has 2 entries in the Land Registry database, most recently in November 2023 and a single entry in the EPC database dated March 2022.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 40 Colvern House Romford as £290,227 and the rental value as £1,377 per month giving an expected gross yield of 5.7%.
Over the last 12 months the sale value of 40 Colvern House Romford has decreased by £3,650 (1.3%) and its rental value has increased by £58 per month (4.2%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 40 Colvern House, Romford is in very good condition we estimate a sale value of £304,738 and rental value of £1,446 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £269,911 and a rental value of £1,281 per month.
If you were able to purchase this property for the estimated value of £290,227, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,426 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, 40 Colvern House, Romford was last sold on 01 Nov 2023 for £80,500 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Nov 2023, the market for similar properties has dropped 1.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 40 Colvern House, Romford within a radius of 460 metres over the last 2 years.
The most recent example is Flat 17, The Squires 243, London Road, Romford, RM7 9JX, a Leasehold flat which sold for £280,000 in Jun 2023.
Read more about house prices in RM7.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Spring Gardens, Romford, RM7 has a total of 156 addresses. According to our analysis of all the public data, 40 Colvern House, Romford is the 121st largest and the 50th most expensive property on the street.
When compared to the postcode district it is £86k less expensive than the average property in RM7.
40 Colvern House, Romford has an Energy Performance Rating (EPC) of B. This is based on the most recent assessment, dated 26 Mar 2022.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to 40 Colvern House, Romford is Romford station which is 1.1 kilometres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 40 Colvern House, Romford, 34.6% of property is privately rented and 26.3% is privately owned with a mortgage.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 40 Colvern House, Romford, 23.3% of residents are recorded as possessing school level qualifications and 35.3% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 40 Colvern House, Romford, the average age was 35.1 and the most common age was 32.
The graph below shows how this compares to Greater London and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 40 Colvern House, Romford, 0.0% of property was a second home.
Comparison figures for Greater London and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 40 Colvern House, Romford, there are an average of 0.9 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.