25 Lakeside Drive, Plymouth, Devon, PL5 2QJ

Description

A two bedroom semi-detached house. Externally the property benefits from front and rear gardens. In need of refurbishment. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Two Reception Rooms, Kitchen. First Floor - Two Bedrooms, Bathroom/WC.

Location

Located on Lakeside Drive, close to the turning for Rochford Crescent. Local amenities and shops can be found along Crownhill Road. Plenty of recreational amenities are nearby such as the Ernesettle Creek and Whitleigh Woods Local Nature Reserve. It is also in close proximity to the expansive Dartmoor National Park. Transport Plymouth - CrossCountry, GWR.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-street, same-type freehold sale at 31 Lakeside Drive for £170,000 on 24 January 2025. Older same-street sales at £107,500 and £123,000 provide historical context but are less relevant. The £32,000 1997 sale is not a current market indicator. A provisional GDV of £170,000 is therefore used, subject to the property's refurbishment condition and the absence of further current comparables.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a full inspection, a priced refurbishment schedule and confirmation of all auction fees and special conditions. The guide-price rent indication is attractive, but the evidence is insufficient to set a reliable maximum bid or confirm a flip/BRRRR margin.

Works Required

Refurbishment of the vacant two-bedroom house, including works required to the two reception rooms, kitchen, two bedrooms, bathroom/WC and general internal presentation. The evidence does not specify particular defects or provide a works budget, so the scope and cost remain unquantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £90,000 guide, the provisional 75% refinance against the £170,000 GDV would be £127,500. However, total project cost cannot be calculated because refurbishment costs and the auction buyer fee are unknown. The cash left in and viability of the refinance strategy therefore cannot be reliably determined.

Buy-to-Let Analysis

The supplied advertised asking rent is £743 pcm, equivalent to £8,916 annually. Against the £90,000 guide, this indicates a gross yield of approximately 9.91% before refurbishment, finance, voids, management, maintenance, tax and buyer costs. A yield on total project cost cannot be established because refurbishment costs and the buyer fee are unspecified. The rental evidence is an asking rent, not an achieved rent.

Flip Analysis

The provisional resale/GDV reference is £170,000, based primarily on the January 2025 same-street comparable. Flip profitability cannot be calculated because no refurbishment allowance, buyer fee, selling costs or other project costs are supplied. The vacant status may facilitate works, but the actual condition is not detailed beyond requiring refurbishment.

Investor Risks & Due Diligence

• Refurbishment is required but no scope, condition detail or cost estimate is supplied.

• The auction buyer fee is unspecified and VAT or other seller-charged amounts may apply.

• The £170,000 GDV relies primarily on one recent comparable rather than a broader set of current sales.

• The £743 pcm figure is an advertised asking rent, not an achieved or guaranteed passing rent.

• No EPC, heating, parking, council tax or operating-cost information is supplied.

• The property is vacant, so there is no existing passing rent to verify.

Recommendation

Proceed only subject to a full inspection, a priced refurbishment schedule and confirmation of all auction fees and special conditions. The guide-price rent indication is attractive, but the evidence is insufficient to set a reliable maximum bid or confirm a flip/BRRRR margin.

Strategy Rating

Analysis Confidence

The analysis has one recent same-street comparable and one advertised rental figure, but lacks a detailed condition report, refurbishment costs, buyer fee, EPC, operating costs and multiple current rental or sales comparables.