25 Moses Close, Plymouth, Devon, PL6 6JP

Description

A two-bedroom house in Plymouth. The accommodation comprises a living room, kitchen, two bedrooms and a bathroom. Externally the property benefits front and rear gardens and storage. Requiring renovation throughout, this would suit an investment purchase, or a potential home owner looking for a blank slate.

Accommodation

Living Room: 4.40m x 2.70m; Kitchen: 3.64m x 2.56m; Bedroom One: 3.40m x 2.70m; Bedroom Two: 3.40m x 2.60m; Bathroom: 2.50m x 1.40m

Location

Plymouth, Devon

Tenure / Property Information

Investment Analysis

Completed sales on Moses Close range from £127,500 to £182,000. The most recent supplied sale was £182,000 in May 2022, while earlier sales were £147,000, £127,500 and £152,500. Given the subject property requires renovation throughout, a cautious evidence-based scenario range is £147,000–£182,000, with a midpoint estimate of £165,000. No current valuation evidence or condition-specific comparable detail is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a detailed inspection, contractor pricing and confirmation of all auction charges. The property may suit a BTL or owner-occupier refurbishment strategy, but the missing works budget prevents a reliable maximum bid or project return calculation.

Works Required

Renovation throughout, with the precise scope to be confirmed by inspection. The supplied description does not identify specific defects, services, finishes or required structural works, so no reliable works allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £120,000 guide, the known buyer premium and administration charge add £1,800 before any other possible charges. A 75% refinance against the £165,000 base GDV would be approximately £123,750. However, refurbishment costs and the full acquisition/project cost are unsupported, so cash required and refinance surplus cannot be established.

Buy-to-Let Analysis

The auctioneer estimates rent at £1,100 pcm once renovated, equivalent to £13,200 per year. Against the £120,000 guide, this indicates an estimated gross yield of 11.0%, before refurbishment, finance, tax, management, maintenance, voids and compliance costs. No sufficiently specific external rental comparable is supplied, so the rent remains an auctioneer estimate rather than achieved evidence.

Flip Analysis

The base GDV is estimated at £165,000 from the supplied completed sales. A flip surplus cannot be calculated because no refurbishment cost allowance or supported selling-cost allowance is provided. The spread between the guide and estimated GDV may be narrowed substantially by renovation and other auction/project costs.

Investor Risks & Due Diligence

• Renovation is described as being required throughout, but no detailed schedule or cost evidence is supplied.

• The £1,100 pcm rent is an auctioneer estimate and no sufficiently specific external rental comparable was identified.

• Additional charges may include search fees, seller-cost reimbursement, legal fees and transfer fees.

• The GDV scenarios rely on supplied historic completed sales, including sales dating from 2019–2022, with no current market evidence supplied.

• A reliable maximum bid, total project cost and flip surplus cannot be calculated without refurbishment and other project-cost information.

Recommendation

Proceed only subject to a detailed inspection, contractor pricing and confirmation of all auction charges. The property may suit a BTL or owner-occupier refurbishment strategy, but the missing works budget prevents a reliable maximum bid or project return calculation.

Strategy Rating

Analysis Confidence

The analysis has several completed local sales, a guide price, stated tenure and an auctioneer rent estimate, but lacks current rental comparables, detailed condition information, refurbishment costs and full acquisition/selling costs.