92, The Walronds, Tiverton, Devon

Description

Three bedroom two reception end terrace house requiring a level of cosmetic updating. Benefits from a newly fitted kitchen, off road parking and a large rear garden. Once updated, this property would make an ideal family home or investment purchase.

Accommodation

Ground Floor: Entrance Hall, Dining Room, Lounge, Kitchen, Bathroom. First Floor: Landing, Bedroom One, Bedroom Two, Bedroom Three, Bathroom. Outside: Garden to front with driveway providing off road parking. Garden to rear.

Location

Situated within a well-established residential area, well located for a range of everyday amenities found in Tiverton town centre including supermarkets, shops and leisure facilities. Schools for various ages can be found in the area along with transport connections, with easy access to the A361 and Tiverton Parkway railway station.

Tenure / Property Information

Investment Analysis

The £165,000 guide is the only current pricing indicator. The supplied Land Registry comparables are £62,500 and £45,500, but date from 2000 and 1995 and cannot support a current GDV. No reliable current market value or resale valuation can therefore be established. The single rental listing supports an advertised asking rent of £1,250 pcm only, not an achieved rent.

Investment Snapshot

Strategy Recommendation

Conditional BTL only, subject to inspection, confirmation of the achieved rental level, EPC and heating details, and a full works quotation. Do not bid on a BRRR or flip basis without current valuation evidence.

Works Required

Cosmetic updating as described by the auctioneer. The newly fitted kitchen should not be included in the works assumption. The scope and cost of any decoration, floor finishes or other updating require inspection and contractor quotations; no monetary allowance is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably assessed because no current GDV, quantified works budget or refinance valuation evidence is supplied. The £1,800 documentation fee is known, but potential seller fees and refurbishment costs are not.

Buy-to-Let Analysis

At the £165,000 guide, the advertised £1,250 pcm rent implies a headline gross yield of approximately 9.09% before voids, management, maintenance, insurance, finance and tax. This is based on one advertised asking rent rather than achieved rent. The £1,800 contract documentation fee takes the known purchase cost to £166,800 before any refurbishment, seller fees or other costs, so an all-in yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated because current resale evidence, GDV, refurbishment costs and selling costs are unavailable. The historic comparables are too old to support a current resale assumption.

Investor Risks & Due Diligence

• Current GDV cannot be supported from the supplied evidence.

• The rental figure is an advertised asking rent, not an achieved or passing rent.

• Refurbishment scope is described only as cosmetic updating and is uncosted.

• EPC and heating information are to be confirmed.

• A £1,800 contract documentation fee is payable, with possible additional seller fees under the special conditions.

• No buyer premium or administration charge is supplied, so total acquisition cost is incomplete.

Recommendation

Conditional BTL only, subject to inspection, confirmation of the achieved rental level, EPC and heating details, and a full works quotation. Do not bid on a BRRR or flip basis without current valuation evidence.

Strategy Rating

Analysis Confidence

Current comparable sales, EPC, heating, refurbishment costs, seller fees and achieved rental evidence are unavailable. The supplied sales evidence is historic and the rent is an advertised asking figure.