3 Bed Semi-Detached House, Refurb/BRRR, Barnstaple, EX32 8DL, £260,000

3 Ravelin Gardens, Barnstaple, EX32 8DL - 2 views - 2 months ago

Refurb/BRRR
ROI: 1%
~93 m²
+8 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (26%)

£68,750

Stamp Duty & Legal Fees

£10,700

Refurb Costs

£38,000

Bridging Loan Interest

£7,219

Total Cash In

£126,419

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£292,668

Mortgage (After Refinance)

£219,501

Mortgage LTV

75%

Cash Released

£13,251

Cash Left In

£113,168

Equity

£73,167

Rent Range

£730 - £2,500

Rent Estimate

£1,280

Running Costs/mo

£1,191

Cashflow/mo

£89

Cashflow/yr

£1,068

ROI

1%

Gross Yield

6%













Local Rents

15 rents from £730/mo to £2.5K/mo, average is £1K/mo.

RentDateDistanceAddressBeds 
£92503/240.16 miMartin Road, Barnstaple, Devon, EX323
£80011/240.33 mi-3
£1,20009/240.4 mi-3
£2,50001/250.4 mi-3
£2,50002/250.4 mi-3
£1,50002/250.4 mi-3
£78506/240.45 mi-3
£78506/240.45 mi-3
£1,00010/240.46 mi-3
£73005/240.52 miBoutport Street, Barnstaple, Devon3
£95004/240.64 miGranville Avenue, Barnstaple, Devon, EX323
£1,40002/251.03 mi-3
£1,40002/251.03 mi-3
£1,00004/241.07 miOak Tree Drive, Barnstaple3
£1,35005/241.24 miWestfield Avenue, Barnstaple, Devon3

Local Area Statistics

Population in EX32

23,896

Population in Barnstaple

48,982

Town centre distance

0.65 miles away

Nearest school

0.10 miles away

Nearest train station

0.84 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+33%

Sales demand

Buyer's market

Capital growth (5yrs)

+13%

Property History

Price changed to £260,000

February 12, 2025

Listed for £275,000

January 13, 2025

Floor Plans

Description

  • 3 BEDROOM LINK DETACHED HOUSE +
  • IN NEED OF MODERNISATION THROUGHOUT +
  • MAJORITY UPVC DOUBLE GLAZING +
  • DRIVEWAY PARKING FOR 1 CAR +
  • GARDEN TO FRONT SIDE AND REAR +
  • BUS STOP NEARBY +
  • GREAT POTENTIAL +
  • NO CHAIN +

Located close to Barnstaple town, this 3-bedroom link-detached property presents a fantastic opportunity for those looking to create their perfect home. Offering plenty of scope for modernisation and personal touches, this home is perfectly suited to buyers with a vision.

The property boasts a majority of UPVC double glazing and opens to a good-sized entrance hall. Double doors lead into the triple-aspect lounge, which is filled with natural light and provides a spacious living area. The kitchen presents an excellent opportunity for redesigning to suit your modern taste and overlooks the rear garden. Completing the ground floor is convenient access to the single garage and a downstairs WC.

On the first floor, there are three bedrooms, with the main bedroom benefiting from a dual aspect, alongside a three-piece bathroom suite.

Outside, the home sits on a generous plot with gates leading to driveway parking for 1 vehicle and gardens to the front, side, and rear. The outdoor spaces, though in need of attention, provide immense potential to be transformed into a beautiful garden space and/or expanded parking area if desired.

This property offers an excellent opportunity for buyers who want to put their stamp on a home in a sought-after location. Don’t miss the chance to explore the possibilities this home offers—contact us today to arrange a viewing!
Proceed up Bear Street, taking the third turning on the right into Sowden Lane which leads onto Chanters Hill. Continue along this road taking the 5th turning on the right leading into Ravelin Gardens and the property is the first on the right hand side with a number plate and Webbers for sale board displayed.

Agent Details

Webbers Property Services, Barnstaple

01271 443477

Next Steps?

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