Fox & Sons says ..

Property Oracle says ..

This two-bedroom ground floor flat in Greenbank, Plymouth, presents a compelling yet challenging opportunity for potential buyers. Located on Providence Street, it benefits from its proximity to Mount Street Primary School, Plymouth High School for Girls, and Plymouth University, making it an attractive prospect for families and students alike. The nearby railway station provides convenient access to broader transportation networks.

However, the property’s condition is a significant factor. The interior images reveal extensive renovation is needed, indicating stripped walls, damaged ceilings, and considerable work required to make it habitable. The kitchen, while having existing cabinets, also needs a full refurbishment. The garden space, while present, appears compact.

The listed price of £80,000 represents a relatively low figure for a property in this location, particularly given the proximity to various amenities and schools. Nonetheless, the substantial renovation costs necessitate careful consideration before purchasing. It is crucial to factor in these additional costs when assessing the overall investment value. The property could be a viable investment for buyers who have the budget, time and skill to undertake renovations and seek to capitalize on the potential rental income once it’s upgraded. Given the significant amount of refurbishment required, the current value is heavily influenced by the potential rather than the current state of the house. Buyers must perform their own diligent due diligence to check costs associated with the refurbishment, the time it will take to do so and the overall cost versus the profit they are likely to gain on the property after renovation is complete.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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