209 North Roskear Road, Tuckingmill, Camborne, Cornwall

Description

A deceptively spacious three bedroom end of terrace bungalow requiring refurbishment, situated in the popular Tuckingmill area of Camborne. The property offers a large lounge diner, kitchen, three bedrooms and bathroom to the ground floor, with additional useful loft room and low maintenance front and rear gardens. The property is currently let to established tenants, generating a modest income of £950 pcm/£11,400 pae. Cash buyers only.

Accommodation

Ground floor: entrance porch, hallway, lounge/diner, kitchen, three bedrooms and bathroom. Second floor: large loft room.

Location

Tuckingmill is a popular residential area offering a range of bespoke shops, retail parks and educational facilities catering for all age groups. The nearby town centre of Camborne provides comprehensive shopping and leisure facilities, with excellent public transport links and being readily commutable to the A30.

Tenure / Property Information

Investment Analysis

The five supplied completed sales on North Roskear Road range from £125,000 to £185,000. They are terraced rather than specifically identified as bungalows, and the subject requires refurbishment, so they are indicative rather than directly comparable. A cautious evidence-based GDV range is £140,000–£185,000, with £160,000 used as the base estimate. The subject’s current £950 pcm rent is below the supplied £1,600 pcm advertised three-bedroom rental evidence, although the latter is only an asking rent and may not be directly comparable.

Investment Snapshot

Strategy Recommendation

Potential cash BTL subject to satisfactory legal, tenancy and refurbishment due diligence. Do not bid on the current evidence alone; obtain a detailed works schedule, quotations, tenancy documents and full legal-pack fee review first.

Works Required

Refurbishment is required, but the evidence does not specify the condition of individual rooms, services, kitchen, bathroom, loft room or external areas. A scope and contractor quotations are required before budgeting or bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £160,000 base GDV, a 75% refinance calculation is £120,000. However, refurbishment costs, total acquisition cost, tenure, legal-pack charges and finance costs are not supplied, so cash required and refinance surplus cannot be established. Cash-buyers-only status also makes the initial funding requirement material.

Buy-to-Let Analysis

At the existing stated rent of £950 pcm, annual rent is £11,400 and the gross yield on the £75,000 guide is 15.2%, before refurbishment, finance, operating costs, tax and auction charges. The £1,600 pcm evidence would imply a 25.6% gross yield on the guide, but it is an advertised asking rent rather than achieved rent and is not confirmed for this property. The property is occupied by established tenants, so tenancy terms, rent review potential and access for works require verification.

Flip Analysis

The supplied sales support an indicative £140,000–£185,000 resale range, with £160,000 as the base GDV. A flip surplus cannot be calculated because no refurbishment allowance, purchase-related total cost or supported selling-cost allowance is available. The occupied status may also affect access, timing and resale execution.

Investor Risks & Due Diligence

• Refurbishment is stated to be required, but its scope and cost are unknown.

• Cash buyers only, creating a significant upfront funding requirement.

• The property is occupied by tenants; tenancy terms, arrears status, access and vacant-possession position are not supplied.

• The current £950 pcm rent is materially below the £1,600 pcm advertised asking-rent evidence.

• Tenure and lease details are missing.

• The buyer/admin charge includes VAT and may be subject to a minimum, while additional legal-pack charges may also apply.

• The sold comparables are terraced properties and may not be directly comparable to this end-of-terrace bungalow.

Recommendation

Potential cash BTL subject to satisfactory legal, tenancy and refurbishment due diligence. Do not bid on the current evidence alone; obtain a detailed works schedule, quotations, tenancy documents and full legal-pack fee review first.

Strategy Rating

Analysis Confidence

There is useful same-road sold-price evidence, current rent evidence and a rental asking-rent reference, but the property’s tenure, lease details, refurbishment scope, total acquisition costs and selling costs are not supplied. The comparables are also terraced properties rather than confirmed bungalows.