38 St. Marks Road, Easton, Bristol BS5 0LR

Description

A freehold mid-terraced period property arranged over three floors, located on St. Marks Road in Easton. The property was previously let and requires updating. It is currently arranged as a six-bedroom rental and is sold with vacant possession.

Accommodation

Accommodation of approximately 1,444 sq ft arranged over three floors, comprising a reception room, dining room, kitchen, utility room and bedroom 6 on the ground floor, with five bedrooms and two bathrooms on the upper floors. Enclosed rear garden.

Location

Located a few minutes' walk from the amenities of St Marks Road, Stapleton Road, Lawrence Hill and Old Market in Easton. Bristol City Centre is approximately two miles away and the nearby M32 motorway network provides a route out of the city.

Tenure / Property Information

Investment Analysis

The only recent supplied comparable is 40 St Marks Road, which sold for £325,000 on 23 October 2025. It is the same road and property type, but no size, bedroom count or condition details are provided, so adjustment is not possible. A provisional base GDV of £325,000 is used, subject to survey and better comparable evidence. The £275,000+++ guide is before the £1,800 including VAT buyer premium and does not establish value or maximum bid.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain a survey, detailed refurbishment quotation and robust rental evidence; only then assess whether a purchase below the provisional GDV supports a BTL, BRRR or resale strategy.

Works Required

Update the previously let six-bedroom accommodation, including the reception, dining, kitchen, utility room, six bedrooms, two bathrooms and associated finishes. The evidence does not quantify defects or support a refurbishment budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £325,000 GDV, 75% refinance would be £243,750. A BRRR appraisal cannot be completed because refurbishment cost, achievable rent and total project cost are unsupported. The £1,800 buyer premium would also be payable in addition to the purchase price.

Buy-to-Let Analysis

BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant and was previously arranged as a six-bedroom rental, but achievable rent, operating costs and any compliance requirements are unquantified.

Flip Analysis

A provisional resale benchmark of £325,000 is supported only by the nearby 2025 sale. Flip surplus cannot be calculated because refurbishment costs, acquisition costs beyond the buyer premium and selling costs are not fully evidenced.

Investor Risks & Due Diligence

• The property requires updating, but the scale and cost of works are not evidenced.

• Only one recent comparable is supplied and its size, bedroom count and condition are unknown.

• No sufficiently specific rental evidence is available, preventing yield and cash-flow assessment.

• The £1,800 including VAT buyer premium is payable on exchange in addition to the purchase price.

• The guide is stated as £275,000+++ and may not represent the eventual purchase price.

• The property is vacant, so there is no passing rent to support the investment case.

Recommendation

Do not bid on the current evidence alone. Obtain a survey, detailed refurbishment quotation and robust rental evidence; only then assess whether a purchase below the provisional GDV supports a BTL, BRRR or resale strategy.

Strategy Rating

Analysis Confidence

There is one recent same-road sold comparable and clear accommodation information, but no quantified works, rental evidence, detailed comparable specification or complete project-cost data.