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

Sold Prices£125K - £385K
Sold Prices/m²£1.2K/m² - £3.9K/m²

 

 

Square Metres

~93 m²
Price/m²£2.8K/m²

Value Estimate

£195,789

 

 

End Value (After Refurb)

£292,668

Uplift in Value

+6%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£65,000

Stamp Duty & Legal Fees

£10,700

Refurb Costs

£38,000

Bridging Loan Interest

£6,825

Total Cash In

£122,275

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£292,668

Mortgage (After Refinance)

£219,501

Mortgage LTV

75%

Cash Released

£24,501

Cash Left In

£97,774

Equity

£73,167

Rent Range

£730 - £2,500

Rent Estimate

£1,280

Running Costs/mo

£1,191

Cashflow/mo

£89

Cashflow/yr

£1,073

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £125K to £385K, average is £210K. £1.2K/m² to £3.9K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£250K07/230.04 mi43, Chanters Hill, Barnstaple, Devon EX32 8DW3
£345K10/220.09 mi67, Chanters Hill, Barnstaple, Devon EX32 8DE3
£218K03/210.11 mi6, Britten Drive, Barnstaple, Devon EX32 8AQ3
£295K03/210.12 miJasmine House, Goodleigh Road, Barnstaple, Devon EX32 7EQ3
£330K07/230.14 mi9, Highfield Close, Barnstaple, Devon EX32 8LG3
£245K11/220.14 mi9, Lauderdale, Barnstaple, Devon EX32 8DU3
£228K03/210.15 mi6, Grieg Drive, Barnstaple, Devon EX32 8AG3
£210K05/210.15 mi19, Grieg Drive, Barnstaple, Devon EX32 8AG3
£230K06/210.15 mi17, Grieg Drive, Barnstaple, Devon EX32 8AG3
£380K11/220.15 mi1, Langarron Park, Barnstaple, Devon EX32 8BT3
£185K07/210.16 mi3, Martin Road, Barnstaple, Devon EX32 7EL3
£165K10/200.16 mi25, Martin Road, Barnstaple, Devon EX32 7EL3
£157K03/210.16 mi11, Martin Road, Barnstaple, Devon EX32 7EL3
£302K10/220.17 mi10, Grieg Drive, Barnstaple, Devon EX32 8AG3
£310K02/210.19 mi15, Hayne Park, Barnstaple, Devon EX32 8DT3
£217.5K04/210.2 mi12, Hawley Manor, Barnstaple, Devon EX32 8AP3
£275K10/220.21 mi11, Hawley Manor, Barnstaple, Devon EX32 8AP3
£385K09/210.22 mi17, Sunset Heights, Barnstaple, Devon EX32 8DH3
£310K03/210.22 mi36, Sunset Heights, Barnstaple, Devon EX32 8DH3
£307K06/210.22 mi8, Sunset Heights, Barnstaple, Devon EX32 8DH3
£315K04/210.23 miGlenavon, Barbican Lane, Barnstaple, Devon EX32 8LB3
£192.5K12/220.24 mi26, Forches Avenue, Barnstaple, Devon EX32 8EE3
£165K03/210.26 mi3, Meteor Walk, Barnstaple, Devon EX32 7HY3
£230K08/210.26 mi8, Ashleigh Road, Barnstaple, Devon EX32 8JX3
£202.5K08/210.27 mi15, Bicton Street, Barnstaple, Devon EX32 7DY3
£185K10/210.28 mi39, Gorwell Road, Barnstaple, Devon EX32 7HS3
£185K07/210.29 mi2, Victoria Close, Barnstaple, Devon EX32 9HX3
£177K02/230.29 mi1, Victoria Close, Barnstaple, Devon EX32 9HX3
£130K09/210.3 mi59, Charles Dart Crescent, Barnstaple, Devon EX32 7ED3
£260K11/220.31 mi11, Barbican Road, Barnstaple, Devon EX32 9HW3
£190K07/230.31 mi1, Harman Walk, Barnstaple, Devon EX32 8AL3
£172K03/210.31 mi10, Victoria Lawn, Barnstaple, Devon EX32 9HU3
£184K12/200.31 mi9, Victoria Lawn, Barnstaple, Devon EX32 9HU3
£212K07/230.31 mi12, Victoria Lawn, Barnstaple, Devon EX32 9HU3
£150K05/210.32 mi7, Victoria Street, Barnstaple, Devon EX32 9HT3
£215K11/200.32 mi36, Fort Street, Barnstaple, Devon EX32 8BJ3
£198K05/230.33 mi61, Forches Avenue, Barnstaple, Devon EX32 8EF3
£195K11/220.34 mi31, Sunflower Road, Barnstaple, Devon EX32 7DU3
£195K01/230.34 mi32, Poltimore Lawn, Barnstaple, Devon EX32 7HL3
£148K07/230.34 mi37, Sunflower Road, Barnstaple, Devon EX32 7DU3
£210K07/210.35 mi27, Charles Dart Crescent, Barnstaple, Devon EX32 7EB3
£125K11/200.35 mi19, Pulchrass Street, Barnstaple, Devon EX32 8JS3
£200K12/210.35 mi18, Pulchrass Street, Barnstaple, Devon EX32 8JS3
£125K08/210.36 mi12, Pulchrass Street, Barnstaple, Devon EX32 8JS3
£235K09/210.36 mi36a, Bicton Street, Barnstaple, Devon EX32 7EA3
£160K02/210.37 mi35, Churchill Close, Barnstaple, Devon EX32 7HJ3
£180K06/230.37 mi15, Belmont Road, Barnstaple, Devon EX32 7HF3
£217K03/230.37 mi8, Belmont Road, Barnstaple, Devon EX32 7HF3
£180K06/230.38 mi4, Brookdale Terrace, Barnstaple, Devon EX32 9HZ3
£214K05/230.38 mi29, Broadfield Road, Barnstaple, Devon EX32 9JW3

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
£78505/240.45 mi-3
£78505/240.45 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 💪