2 Bed Bungalow, Refurb/BRRR, Bideford, EX39 6EA, £375,000

Hartland, Bideford, EX39 6EA - 7 months ago

Refurb/BRRR
Planning
~87 m²
+18 photos

ValuationOvervalued

Sold Prices£165K - £301K
Sold Prices/m²£2.6K/m² - £5.2K/m²

 

 

Square Metres

~86.50 m²
Price/m²£4.3K/m²

Value Estimate

£258,169

 

 

End Value (After Refurb)

£375,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£93,750

Stamp Duty & Legal Fees

£28,700

Refurb Costs

£35,067

Bridging Loan Interest

£9,844

Total Cash In

£169,110

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£375,000

Mortgage (After Refinance)

£281,250

Mortgage LTV

75%

Cash Left In

£169,110

Equity

£93,750

Rent Range

£485 - £1,300

Rent Estimate

£828

Running Costs/mo

£1,357

Cashflow/mo

£-529

Cashflow/yr

£-6,354

Gross Yield

3%

Local Sold Prices

8 sold prices from £165K to £301K, average is £190K. £2.6K/m² to £5.2K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£301K12/221.89 mi4, Brimacombe Road, Hartland, Bideford, Devon EX39 6BB2
£180K09/211.93 mi8, Jeffery Close, Hartland, Bideford, Devon EX39 6HT2
£200K07/231.93 mi6, Jeffery Close, Hartland, Bideford, Devon EX39 6HT2
£175K07/231.93 mi9, Heywood Close, Hartland, Bideford, Devon EX39 6HS2
£205K02/231.96 mi4, The Greenwoods, Hartland, Bideford, Devon EX39 6JA2
£240K03/231.96 mi23a, The Greenwoods, Hartland, Bideford, Devon EX39 6JA2
£165K08/212 mi3, Heard Close, Hartland, Bideford, Devon EX39 6HX2
£170K03/232 mi4, Heard Close, Hartland, Bideford, Devon EX39 6HX2

Local Rents

3 rents from £485/mo to £1.3K/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£48504/241.77 miKings Arms, Hartland1
£70007/231.87 mi-2
£1,30005/242.13 miGoaman Park, Hartland, Bideford, Devon, EX394

Local Area Statistics

Population in EX39

37,175

Town centre distance

13.65 miles away

Nearest school

1.90 miles away

Nearest train station

20.80 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Buyer's market

Capital growth (5yrs)

+21%

Property History

Price changed to £375,000

November 21, 2024

Listed for £400,000

September 18, 2024

Floor Plans

Description

  • Rare opportunity +
  • Truly unique location +
  • In need of renovating/modernisation/development +
  • Generous sized plot +
  • Walking distance to the SW coastal path +
  • No onward chain +
  • Freehold +
  • Council tax band C +

A rare opportunity to purchase a detached two bedroom bungalow situated in a unique location and is being offered with no onward chain.

Situation - Apple Trees is idyllically situated via an unmade track which gives access down to the stunning Speke's Mill Mouth waterfall, beach and the SW coastal path. The property is in a quiet and peaceful valley and the hamlet offers wonderful coastal and inland walks together with delightful countryside, ideal for riding and cycling. Nearby Hartland village, about 3 miles away, has a thriving community with an excellent range of local amenities including café, shops, Post Office, pubs, medical centre and primary school. There are churches, a variety of clubs, societies and an award-winning restaurant called Pattard Restaurant. Popular attractions include Hartland Abbey, The Lighthouse at Hartland Point and a 16th Century Quay with its shipwreck museum, pub and hotel.

The towns of Bideford and Bude around 15 miles away offer extensive facilities, including further education establishments, banks and other amenities. Barnstaple is around 45 minutes by car. Junction 27 of the M5 and Tiverton Parkway rail station are approximately 90 minutes away with regular services to London Paddington, the Midlands, the North, Scotland and the South West.

Description - Entering the market for the first time in 40 years, this is a rare opportunity to purchase a detached two bedroom bungalow situated in a unique location and is being offered with no onward chain. This is a fantastic opportunity for a new owner to put their own stamp on, and although the property is in need of updating and general modernisation, it does offer tremendous scope for potential development to create a grand designs style home subject to planning permission.

Accommodation comprises; Entrance porch entering into the living room with fireplace ad window to front, inner hallway which gives access to the two bedrooms, bathroom and kitchen which includes a build in storage, worktop space, inset sink, Oil fired Rayburn and electric Stoves oven. From the hallway is also access to the rear garden.

Outside the property benefits from a generous sized plot with gardens on all sides and an attached single garage. The front is accessed via a five bar gate and is well planted with an assortment of plants, shrubs and trees for all year round colour with a paved terrace with seating. The rear garden can be accessed by either side, this is a terraced style garden which is mainly laid to lawn, is completely private and enjoys fine views of the surrounding woodland and countryside. A real haven for wildlife. There is also a block built shed and separate wood store.

Property Information - Oil fired Rayburn.
Electric storage heaters
Private water.
Private drainage.
Traditional block construction with slate roof.
Wooden framed windows
Access via an unmade track
According to Ofcom, Ultrafast broadband is available at the property. For further information such as mobile signal please see the Ofcom website.

Agent Details

Stags, Bideford

01237 871232

Next Steps?

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