I was 52 when I started getting my weight and bodyfat down and fitness and strength up.
Did a very different routine though due to injuries and (I'm guessing) goals, cardio fitness is as important as strength to me.

After the initial 6 months of weight loss I switched to maintaining (actually nibbled off a few more pounds here and there but majority of time at maintenance).
Over the course of a year my experience was increased strength by about 50% back to close to lifetime bests. Fitter than I have ever been - relative to age anyway and quite possibly in absolute terms too!
Waist smaller, chest, arms & leg measurements either slightly bigger or stayed roughly the same. Lost fat (7.5lbs), increased LBM (3.5lbs).
Other benefits were big decreases in back and knee pain.

By the way there's plenty of exceptions to:

I know for a fact that I won't gain any muscle mass as I am not eating at a surplus.

As you say you have 30% BF and eating at maintenance don't set your expectations too low - you have huge energy reserves! The calorie surplus being required for muscle building is far more necessary if you are lean and at or near your training peak. Your training, training history and genetics are big factors to take into consideration. Age is against us though.

hi Chevy,
I've been on MFP for nearly 2 years; year 1 was weight loss, dropped 47lbs; then I started lifting this past spring, I have a home dumbbell gym & do 5x5 or 6x5 3 days per week, I walk 3 days & rest 1.
I don't keep exact measurements but I can report a WHOLE LOT of improved definition, all over, and 3 months into my lifting I had a casual look at the scales, & I'd lost a further 5lb!
I get kind of hot looking at myself in the mirror these days, just waiting for my wife to join in
good luck!
oh, I'm 55, 5'10", 164lb