We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work2-bedroom flat · EX4 4JA
For saleReduced £9k (−5.7%) on 20 SepListed 250 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Located in the very centre of Exeter, this Grade II listed, top-floor two double bedroom flat represents an excellent opportunity for first-time buyers/selling to buy & investors.
Possible rental income of £996 per calendar month.
Positioned on Richmond Road, the property benefits from an exceptionally convenient city centre setting, just a short walk from Exeter High Street, Exeter University, the Princess hay shopping area, local amenities, and excellent transport links.
The location continues to attract strong and consistent demand from both professional tenants and owner-occupiers alike.
The accommodation comprises a spacious living area, a fitted kitchen, two well-proportioned double bedrooms, and a bathroom.
The flat occupies the top floor of this attractive period building, enjoying an elevated position and the character features typical of a Grade II listed property.
Further benefits include residents’ on-street permit parking, adding valuable practicality for a city centre property.
The property is subject to a service charge of £136 per month, which includes building insurance, contributing to straightforward ongoing management.
With its central location, character appeal, and flexibility for either continued letting or owner occupation, this property presents a versatile and appealing opportunity in a high-demand area.
Property Ownership Information Tenure Leasehold Council Tax Band A Annual Ground Rent No ground rent Ground Rent Review Period No review period Annual Service Charge £1,632.00 Service Charge Review Period No review period Lease End Date 25/03/2986 Property Description Disclaimer This is a general description of the property only, and is not intended to constitute part of an offer or contract.
It has been verified by the seller(s), unless marked as "draft".
Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it.
If you require clarification on any point then please contact us, especially if you’re traveling some distance to view.
All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering and proof of funds checks.
The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Purplebricks and complete all checks before we can issue a memorandum of sale.
The cost includes obtaining relevant data and any manual checks and monitoring which might be required.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Flat 5, 2, Richmond Road, Exeter
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