2 Bed Flat, Single Let, Torrington, EX38 8EJ, £150,000

New Road, Torrington, Devon, EX38 8EJ - 3 months ago

BTL
~133 m²
+4 photos

ValuationUndervalued

Sold Prices£120K - £175K
Sold Prices/m²£1.9K/m² - £2.5K/m²

 

 

Square Metres

~133.41 m²
Price/m²£1.1K/m²

Value Estimate

£181,500
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£37,500

Stamp Duty & Legal Fees

£8,700

Total Cash In

£46,200

 

 

Cash Out

 

Rent Range

£65 - £1,300

Rent Estimate

£609

Running Costs/mo

£611

Cashflow/mo

£-2

Cashflow/yr

£-19

Gross Yield

5%

Local Sold Prices

7 sold prices from £120K to £175K, average is £143K. £1.9K/m² to £2.5K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£146K09/210.26 mi2, Linden Close, Torrington, Devon EX38 7AL2
£146K09/210.27 mi2, Linden Close, Torrington, Devon EX38 7AL2
£143K12/210.27 mi3, Linden Close, Torrington, Devon EX38 7AL2
£175K06/210.38 mi88, Trafalgar Drive, Torrington, Devon EX38 7AB2
£120K07/210.49 mi21, Hunters Wood, Torrington, Devon EX38 7NX2
£130K06/230.49 mi26, Hunters Wood, Torrington, Devon EX38 7NX2
£120K07/210.49 mi21, Hunters Wood, Torrington, Devon EX38 7NX2

Local Rents

15 rents from £65/mo to £1.3K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£65004/240.02 miNew Road, Great Torrington, Devon2
£71005/240.06 miWell Street, Great Torrington, Devon2
£70004/240.14 mi-3
£70003/240.15 miBank House, Great Torrington, Devon2
£87504/240.16 miMorton Drive, Torrington3
£48504/240.17 miChurch Walk, Great Torrington, Devon1
£90004/240.17 miCastle Hill Gardens, Great Torrington, EX383
£77505/240.34 miVictory Way, Devon2
£75004/240.36 miOakwell Close, Great Torrington, Devon2
£1,30004/240.36 miTrafalgar Drive, Torrington5
£1,30004/240.36 miTrafalgar Drive, Torrington5
£1,20010/240.37 mi-5
£6504/240.55 miSandford Gardens, Torrington1
£90004/242.03 miWest Ford Farm Cottage, Little Torrington, Devon3
£82503/242.18 miSunnyside, Torrington, Devon3

Local Area Statistics

Population in EX38

8,260

Town centre distance

0.12 miles away

Nearest school

0.20 miles away

Nearest train station

6.66 miles away

 

 

Rental growth (12m)

-8%

Sales demand

Balanced market

Capital growth (5yrs)

+34%

Property History

Price changed to £150,000

February 8, 2025

Listed for £128,000

December 22, 2024

Floor Plans

Description

  • Residential +
  • First floor +
  • Large sitting/dining room facing west +
  • Kitchen/breakfast room +
  • Two bedrooms +
  • Large shower room +
  • Commercial +
  • Large reception area +
  • Four internal rooms, two with sink and storage +
  • Kitchen +

Being attached to a residential property on one side there may be scope for a change of use to full residential subject to planning consents.

From the premises it is but a short walk to the town’s facilities and a short drive to RHS Rosemoor.

The commercial aspect comprises of 5 interlinking rooms along with a kitchen and cloakroom. A separate entrance leads to the 2 bedroom 1st floor flat having kitchen/ diner and lounge along with a shower room.

There is a layby just outside that allows for short term parking.
On foot or by car, leave Torrington Square using the Well Street exit. At the junction with the main road, the property can be found facing on the opposite side a little way up.

Agent Details

Webbers Property Services, Torrington

020 3893 2650

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪