87 Hamlin Lane, Exeter, Devon, EX1 2SE

Description

A Vacant Three Bedroom Semi Detached House in Need of Refurbishment. Potential for a Loft Conversion (Subject to Obtaining all Relevant Consents)

Accommodation

Ground Floor: Two Reception Rooms, Kitchen. First Floor: Three Bedrooms, Bathroom. Exterior: Front and rear gardens and off street parking.

Location

Situated on a residential road close to local shops and amenities. The open spaces of Heavitree Pleasure Ground are within easy reach. Transport links are provided by Polsloe Bridge rail station.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £335,000 to £445,000. A provisional base GDV of £395,000 is used, with low/high scenarios reflecting the supplied evidence only. Condition, floor area and refurbishment specification are unavailable.

Investment Snapshot

Strategy Recommendation

Proceed only after inspecting the property and obtaining a detailed refurbishment budget and legal-pack fee review. The evidence supports potential BTL or resale, but neither can be underwritten reliably yet.

Works Required

Refurbishment is required, but the evidence does not specify the extent. Assess and price the kitchen, bathroom, decoration, services and general condition. Loft conversion is only potential and subject to all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £395,000 base GDV, 75% refinancing equates to £296,250. A reliable BRRR cash requirement cannot be calculated because refurbishment costs and total acquisition costs are unavailable.

Buy-to-Let Analysis

Supplied advertised rents range from £563 to £1,850 pcm, with £1,400 pcm used as an indicative midpoint listing. This implies 7.47% gross yield at the £225,000 guide, before refurbishment, finance, voids and operating costs. Rental evidence is asking-rent evidence and is not fully location-specific.

Flip Analysis

The supplied completed sales support a provisional £335,000–£445,000 resale range, with £395,000 as a base case. Flip surplus cannot be calculated because refurbishment costs and selling costs are unsupported.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• Loft conversion potential is subject to obtaining all relevant consents.

• Rental figures are advertised asking rents, not achieved rents, and vary substantially by location.

• Additional disbursements, search fees, legal fees and transfer fees may be payable.

• Comparable sale prices vary materially and provide no confirmed adjustment for condition or specification.

Recommendation

Proceed only after inspecting the property and obtaining a detailed refurbishment budget and legal-pack fee review. The evidence supports potential BTL or resale, but neither can be underwritten reliably yet.

Strategy Rating

Analysis Confidence

Same-street sold comparables and rental listings are available, but floor area, condition detail, refurbishment costs, EPC, ongoing costs and several auction charges are missing.