103 Meavy Way, Tavistock, Devon PL19 9HY

Description

A one-bedroom flat in Tavistock. Requiring renovation throughout, the accommodation comprises a living room, kitchen, bedroom and a bathroom. Externally there is a rear garden. PVCu D/G and GCH. There will be a new 999 year lease on completion.

Accommodation

Living Room; Kitchen; Bedroom; Bathroom

Location

Tavistock, Devon

Tenure / Property Information

Investment Analysis

Same-road sold evidence ranges from £66,500 to £100,000. A midpoint base GDV of £83,250 is used, but comparability and renovated condition are unverified. The £63,000 guide is below both recorded sales, subject to renovation and fees.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, confirmation of the new lease and a fully priced renovation budget. Conditional BTL/BRRR appears more supportable than an uncosted flip.

Works Required

Renovation throughout, including the living room, kitchen, bedroom and bathroom. No specific defects or contractor costs are supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the property may offer refinance potential against a base GDV of £83,250, with 75% indicative refinance of £62,437.50. Cash required cannot be calculated without refurbishment and completion costs.

Buy-to-Let Analysis

The supplied advertised asking rent is £750 pcm, implying £9,000 annual gross rent and 14.29% against the £63,000 guide. Total-cost yield cannot be established because refurbishment and possible disbursement costs are unknown. The rent is asking evidence, not achieved rent.

Flip Analysis

A resale case is suggested by sold evidence from £66,500 to £100,000, but refurbishment costs, selling costs and condition-adjusted GDV are unavailable. Flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Renovation is required throughout, but no works budget is available.

• The rental figure is an advertised asking rent rather than achieved or passing rent.

• Buyer premium is unspecified and legal-pack disbursements may be payable.

• The two sold comparables show a wide value range and their condition and specification are not provided.

• Leasehold legal terms and the new 999-year lease should be verified in the legal pack.

Recommendation

Proceed only subject to legal-pack review, confirmation of the new lease and a fully priced renovation budget. Conditional BTL/BRRR appears more supportable than an uncosted flip.

Strategy Rating

Analysis Confidence

Two sold comparables and one advertised rent are available, but refurbishment costs, buyer premium, disbursements, achieved rent and detailed property condition are not supplied.