48 Alderwood Parc, Penryn, Cornwall

Description

A two-bedroom terraced house situated in the popular town of Penryn, offering an excellent opportunity for investors, developers or owner-occupiers seeking a property with scope for improvement. The accommodation comprises an entrance porch leading into a living/dining room, with a separate kitchen to the ground floor. To the first floor are two bedrooms and a bathroom. Externally, the property benefits from both front and rear gardens. The property requires a programme of modernisation and improvement throughout, presenting an opportunity for a purchaser to renovate, update and personalise the accommodation to their own requirements.

Accommodation

Ground floor: Living/Dining Room: 5.20m x 3.70m; Kitchen: 2.10m x 3.70m. First floor: Bedroom: 3.40m x 3.70m; Bedroom: 2.10m x 3.70m; Bathroom: 1.80m x 1.80m.

Location

Situated in the popular town of Penryn.

Tenure / Property Information

Investment Analysis

Five same-estate freehold terraced sales range from £220,000 to £265,000. Their bedroom counts and condition are not supplied, so £239,000 is used as a simple indicative base GDV, with £220,000–£265,000 as the evidence range. The property requires modernisation, so achieved value may differ materially.

Investment Snapshot

Strategy Recommendation

Proceed only after legal-pack review and a detailed refurbishment survey/quote. The guide implies potential value below the comparable range, but the incomplete cost evidence makes the maximum bid and profitability unquantifiable.

Works Required

Modernise and improve throughout, updating and personalising the living/dining room, kitchen, two bedrooms, bathroom and external gardens as required. The evidence does not specify individual defects or a works budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative £239,000 base GDV would be approximately £179,250. Cash left in cannot be calculated because refurbishment, total acquisition and finance costs are unsupported. The refinance outcome is also dependent on lender valuation and condition.

Buy-to-Let Analysis

The only rental evidence is a £460 pcm advertised asking rent, equivalent to £5,520 annually. This gives a 4.09% gross yield on the £135,000 guide, before the £2,700 stated buyer and administration charges and refurbishment. Yield on total cost cannot be established without a works budget and other applicable costs.

Flip Analysis

Indicative resale evidence supports a £220,000–£265,000 same-estate range, with a £239,000 base GDV. A flip surplus cannot be calculated because refurbishment costs and a supported selling-cost allowance are unavailable.

Investor Risks & Due Diligence

• Comparables do not include bedroom counts or condition, limiting GDV reliability.

• The property requires modernisation and no refurbishment budget is provided.

• The £460 pcm figure is an advertised asking rent, not achieved or passing rent.

• Additional legal-pack disbursements and special-condition costs may apply.

• Maximum bid and total project cost cannot be calculated from the supplied evidence.

Recommendation

Proceed only after legal-pack review and a detailed refurbishment survey/quote. The guide implies potential value below the comparable range, but the incomplete cost evidence makes the maximum bid and profitability unquantifiable.

Strategy Rating

Analysis Confidence

Strong same-estate sold evidence and stated tenure/type are available, but comparable bedroom counts, detailed condition, refurbishment costs, full fees, passing rent and legal-pack disbursements are not supplied.