Fox & Sons says ..

Property Oracle says ..

This five-bedroom property in Plymouth, Devon, presents itself as a potential investment opportunity, currently operating as a fully let HMO (House of Multiple Occupancy). The property’s location in Efford and Lipson offers proximity to some schools and Plymouth train station. However, the Ofsted reports for nearby schools show a mix of ratings, and more detailed research on the local school catchment area is essential for prospective buyers, particularly families. The property seems to be in a livable condition, with some areas appearing functional but potentially needing cosmetic work to enhance presentation. The main advantages are the number of bedrooms suitable for rental and the inclusion of both a rear garden and a roof terrace. However, the lack of precise plot size information is a notable shortcoming for buyers. The advertised rental yield is significant and likely forms a core part of the value proposition. Prospective buyers interested in this property should therefore thoroughly investigate the current rental income, tenant agreements, maintenance history, and the overall potential rental returns of the local market. It is crucial to factor in the costs associated with property management and potential vacancies to accurately assess the true investment yield. The property’s location, condition and land need a more detailed assessment to determine if the £315,000 asking price fully reflects the market value. Independent valuation is recommended before making a purchase decision.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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