5 Hereford Road, Plymouth, Devon

Description

A two-bedroom flat in Plymouth. Requiring renovation throughout, the accommodation comprises a living room, kitchen, two bedrooms, a bathroom and a W.C. Externally there is a rear garden with storage. PVCU D.G and GCH.

Accommodation

Living Room; Kitchen; Bedroom One; Bedroom Two; Bathroom; W.C.

Location

A two-bedroom flat in Plymouth.

Tenure / Property Information

Investment Analysis

Same-road sold comparables range from £90,000 to £113,500, but sales are historic and the property requires renovation throughout. A supported current GDV cannot be established reliably; £100,000 is used as a provisional base scenario anchored to the guide and comparable evidence.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, lease and obtaining a detailed refurbishment quotation. Do not rely on the headline rental yield or bid without a verified total project cost.

Works Required

Renovation throughout, including the living room, kitchen, two bedrooms, bathroom and W.C. The description confirms PVCU double glazing and gas central heating; no specific defects or scope are supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the provisional £100,000 GDV would be £75,000. Cash required cannot be calculated because refurbishment costs, lease details and other completion costs are unavailable.

Buy-to-Let Analysis

The advertised asking rent of £743 pcm implies an 8.92% gross yield against the £100,000 guide before renovation, fees and other costs. The yield is not reliable for final underwriting because it is an asking rent and refurbishment costs are unknown.

Flip Analysis

A flip surplus cannot be established because refurbishment costs, selling costs and a reliable current resale value are unavailable. Historic same-road sales provide only a broad value indication.

Investor Risks & Due Diligence

• Renovation is required throughout, but no costed scope is provided.

• Rental evidence is an advertised asking rent rather than achieved rent.

• Lease term, service charge and other lease liabilities are not supplied.

• Auction disbursements and additional purchaser costs may apply.

• Historic comparable sales may not reflect current market value or the property's condition.

Recommendation

Proceed only after reviewing the legal pack, lease and obtaining a detailed refurbishment quotation. Do not rely on the headline rental yield or bid without a verified total project cost.

Strategy Rating

Analysis Confidence

Some same-road sales and one rental asking figure are available, but the evidence is historic or advertised, while refurbishment costs, lease details and disbursements are missing.