Flat 3, 247 North Road West, Plymouth, Devon, PL1 5DQ

Description

A vacant one-bedroom flat close to Plymouth city centre and train station. The flat requires renovation throughout and is located on the first floor of a converted property.

Accommodation

Hall, Living Room / Kitchen Diner, Bathroom and Bedroom

Location

Close to Plymouth city centre and train station.

Tenure / Property Information

Investment Analysis

Sold evidence on the same road ranges from £80,000 in February 2026 to £118,000 in June 2023, with older 2019 sales between £102,000 and £125,000. These are not confirmed like-for-like comparables and no sizes or condition details are supplied. A cautious indicative GDV range is £80,000–£118,000, with £100,000 used as a base scenario; this is an estimate rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led resale, subject to a full inspection, lease review and firm refurbishment quotation. Do not rely on the apparent GDV spread until costs and comparable suitability are verified.

Works Required

Renovation throughout, as stated in the description. The evidence does not specify individual defects, finishes, services, kitchen or bathroom condition, so no detailed cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £48,000 guide, the stated buyer premium and admin charge add £2,700 before refurbishment and other possible costs. A 75% refinance against the £100,000 base GDV would be £75,000, but cash left in cannot be calculated because refurbishment and total project costs are unknown. Leasehold costs and terms beyond the stated lease length are also not supplied.

Buy-to-Let Analysis

BTL cannot be assessed reliably because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Gross yield, annual rent and total-cost yield are therefore unsupported. The flat is vacant and requires renovation throughout.

Flip Analysis

A resale case may exist if the £80,000–£118,000 comparable range is relevant, but refurbishment cost, selling costs and other purchase costs are unavailable. A reliable flip surplus and maximum bid cannot therefore be calculated. The older comparables may not represent current value or the subject's condition.

Investor Risks & Due Diligence

• The flat requires renovation throughout, but no refurbishment specification or cost estimate is supplied.

• No sufficiently specific rental evidence is available, preventing reliable BTL yield analysis.

• The sold comparables differ in date and may not be comparable in size, condition or specification.

• Additional search, seller-cost reimbursement, legal, transfer and other disbursement costs may apply.

• Leasehold service charge, ground rent and other lease terms are not supplied.

• A resale value within the comparable range is not assured.

Recommendation

Potential refurbishment-led resale, subject to a full inspection, lease review and firm refurbishment quotation. Do not rely on the apparent GDV spread until costs and comparable suitability are verified.

Strategy Rating

Analysis Confidence

The evidence includes several same-road completed sales and clear auction costs, but lacks rental evidence, refurbishment costs, property size, detailed condition, service-charge/ground-rent information and like-for-like comparable detail.