The Lodge, Higher Grants, Exebridge, Dulverton, Somerset

Description

Two-bedroom semi-detached house situated within Higher Grants Farm. The listing's Key Features section describes it as a three-bedroom semi-detached house. Garden and parking.

Accommodation

Ground floor: living/dining room, kitchen, store, bathroom and W.C. First floor: landing, two bedrooms and W.C. Outside: garden and parking.

Location

Situated approximately 25 miles north of Exeter in the village of Exebridge, on the borders of Devon and Somerset in the heart of the picturesque Exe Valley. The cluster of properties, including The Lodge, lies off the A396 to the east of Exebridge within Higher Grants Farm, on the fringe of the Exmoor National Park.

Tenure / Property Information

Investment Analysis

No completed-sale comparables or formal valuation evidence is supplied. The £100,000–£105,000 guide is the only pricing evidence and should not be treated as confirmed market value. The listing also contains a bedroom discrepancy: the accommodation describes two bedrooms, while the key features state three.

Investment Snapshot

Strategy Recommendation

Potential BTL subject to verification of the existing tenancy, achieved rent, condition, fees and market value. Do not bid solely on the headline rental yield or assume a refurbishment or flip margin.

Works Required

No specific defects or refurbishment works are evidenced. Allowance should not be estimated without inspection; verify the condition, EPC E requirements, kitchen, bathroom, services, external areas and any works required for continued letting.

Rental & Market Context

Potential BRRR Position

BRRR cannot be reliably underwritten because no completed-sale evidence, GDV, refurbishment budget, buyer/admin fee amount or finance assumptions are supplied. Refinance proceeds at 75% of GDV and cash left in therefore cannot be calculated. The existing tenancy and EPC E should be investigated before considering a refinance-led strategy.

Buy-to-Let Analysis

The supplied rental evidence is an advertised asking rent of £1,150 pcm for a two-bedroom house in West Somerset, not an achieved rent or confirmed rent for The Lodge. This equates to £13,800 annually. Against the £100,000–£105,000 guide, the indicative gross yield is approximately 13.14%–13.80%, or 13.46% using the guide midpoint, before buyer fees, administration charges, maintenance, voids, management, finance and tax. The existing Assured Periodic Tenancy must be reviewed and the passing rent verified.

Flip Analysis

A flip appraisal cannot be established without sold comparables or a supported GDV, condition report, refurbishment cost and selling-cost allowance. The guide price alone is insufficient to calculate a resale surplus.

Investor Risks & Due Diligence

• The passing rent, tenancy terms and tenant status are not supplied despite the property being let under an Assured Periodic Tenancy.

• The description states two bedrooms, while the key features state three bedrooms; this requires verification.

• EPC rating E may affect letting and future compliance considerations, but no improvement requirements or costs are supplied.

• Buyer premium, administration charges and other non-optional fees are unspecified and may materially increase total acquisition cost.

• No completed-sale comparables or formal valuation are supplied, so market value and resale value are unconfirmed.

• Property condition and any required refurbishment works are not evidenced.

Recommendation

Potential BTL subject to verification of the existing tenancy, achieved rent, condition, fees and market value. Do not bid solely on the headline rental yield or assume a refurbishment or flip margin.

Strategy Rating

Analysis Confidence

The guide price, property description, tenure, occupancy and one advertised rental comparable are supplied, but there are no sold comparables, tenancy terms, passing rent, condition assessment, refurbishment costs, fee amounts or formal valuation.