5 Bed Terraced House, Refurb/BRRR, Torquay, TQ1 3BG, £260,000

Castle Road, Torquay, TQ1 3BG - 12 views - 3 months ago

Refurb/BRRR
~178 m²
+10 photos

ValuationUndervalued

Sold Prices£195K - £850K
Sold Prices/m²£998/m² - £5.7K/m²

 

 

Square Metres

~178.28 m²
Price/m²£1.5K/m²

Value Estimate

£277,750
BMV1%

 

 

End Value (After Refurb)

£329,823

Uplift in Value

+20%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£65,000

Stamp Duty & Legal Fees

£10,700

Refurb Costs

£72,275

Bridging Loan Interest

£6,825

Total Cash In

£156,550

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£329,823

Mortgage (After Refinance)

£247,367

Mortgage LTV

75%

Cash Released

£52,367

Cash Left In

£104,182

Equity

£82,456

Rent Range

£535 - £2,100

Rent Estimate

£1,255

Running Costs/mo

£1,302

Cashflow/mo

£-47

Cashflow/yr

£-560

Gross Yield

6%

Local Sold Prices

41 sold prices from £195K to £850K, average is £410K. £998/m² to £5.7K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£500K03/230.08 miThe Villa, 31f, Ash Hill Road, Torquay, Torbay TQ1 3JB5
£328K01/230.15 mi33, Chatsworth Road, Torquay, Torbay TQ1 3BJ5
£291.3K03/210.2 mi56, Warberry Road West, Torquay, Torbay TQ1 1NU5
£230K03/210.2 mi9, Tor Hill Road, Torquay, Torbay TQ2 5RN5
£410K12/210.28 mi8, Windsor Road, Torquay, Torbay TQ1 1TD5
£310K12/220.29 mi47, Morgan Avenue, Torquay, Torbay TQ2 5RR5
£360K06/210.29 mi10a, Thurlow Road, Torquay, Torbay TQ1 3DZ5
£195K09/210.39 mi19, Lower Thurlow Road, Torquay, Torbay TQ1 3EL5
£740K03/210.39 miTamarisk, Hillesdon Road, Torquay, Torbay TQ1 1QF5
£426K12/220.4 mi10, Shirburn Road, Torquay, Torbay TQ1 3JH5
£320K06/210.44 miSelma, Bronshill Road, Torquay, Torbay TQ1 3HA5
£215K08/210.45 mi32, Church Lane, Torquay, Torbay TQ2 5SE5
£450K12/220.49 miMelrose House, Tor Vale, Torquay, Torbay TQ1 4EB5
£700K11/220.59 miArlesey Dene, Mill Lane, Torquay, Torbay TQ2 5AW5
£280K04/230.64 mi45, Avenue Road, Torquay, Torbay TQ2 5LG5
£410K09/230.66 mi68, Avenue Road, Torquay, Torbay TQ2 5LF5
£585K11/220.67 miAlpine Court, Devons Road, Torquay, Torbay TQ1 3PR5
£290K01/210.67 mi2, Wrights Lane, Torquay, Torbay TQ1 4HN5
£425K12/220.68 mi16, Quinta Road, Torquay, Torbay TQ1 3RN5
£310K06/230.68 mi8, Enfield Road, Torquay, Torbay TQ1 3RS5
£470K06/230.71 mi58, Reddenhill Road, Torquay, Torbay TQ1 3RR5
£262.5K02/230.72 mi34, Innerbrook Road, Torquay, Torbay TQ2 6AQ5
£640K05/210.72 mi11, St Georges Crescent, Torquay, Torbay TQ1 3QU5
£537.5K02/230.75 mi39, Meadfoot Lane, Torquay, Torbay TQ1 2BP5
£487.5K02/210.8 miLoughton, Old Mill Road, Torquay, Torbay TQ2 6HJ5
£442K11/220.82 mi98, Westhill Road, Torquay, Torbay TQ1 4NT5
£715K12/200.83 miAshfield Lodge, Ashfield Road, Torquay, Torbay TQ2 6HH5
£320K05/210.84 mi14, Sherwell Lane, Torquay, Torbay TQ2 6BD5
£355K06/210.84 mi2, Sherwell Lane, Torquay, Torbay TQ2 6BD5
£330K05/230.84 mi42, Sherwell Lane, Torquay, Torbay TQ2 6BD5
£540K04/210.85 mi4, Walnut Road, Torquay, Torbay TQ2 6HS5
£720K11/200.85 miMerida, Parkhill Road, Torquay, Torbay TQ1 2DQ5
£751K12/210.86 mi4, Den Brook Close, Torquay, Torbay TQ1 3TP5
£350K06/210.86 mi16, Perinville Road, Torquay, Torbay TQ1 3NZ5
£205K05/210.88 mi10, York Road, Torquay, Torbay TQ1 3SG5
£300K04/210.92 mi69, Perinville Road, Torquay, Torbay TQ1 3PA5
£775K10/220.94 miGreycote, Daddyhole Road, Torquay, Torbay TQ1 2ED5
£850K02/230.96 miCourtland, Higher Downs Road, Torquay, Torbay TQ1 3LD5
£600K10/220.97 miWellswood House, Lincombe Hill Road, Torquay, Torbay TQ1 2HN5
£372.5K06/230.98 mi31, Fletcher Close, Torquay, Torbay TQ2 6DD5
£790K03/230.99 miWhite Gables, Seaway Lane, Torquay, Torbay TQ2 6PS5

Local Rents

31 rents from £535/mo to £2.1K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,05009/240.09 mi-3
£87509/240.11 mi-3
£1,08504/250.11 mi-3
£1,07011/240.12 mi-3
£1,20009/240.14 mi-3
£1,20003/250.25 mi-3
£53510/240.29 mi-3
£1,40009/240.29 miThurlow Road, Torquay3
£1,10009/240.31 mi-4
£1,65009/240.32 mi-3
£1,50010/240.32 mi-3
£1,30009/240.37 miSt Lukes Road North, Torquay3
£2,10009/240.38 mi-3
£1,05012/240.38 mi-4
£1,05004/250.38 mi-4
£1,25009/240.42 mi-3
£1,48510/240.44 mi-5
£1,49503/250.44 mi-5
£1,39502/240.45 mi-4
£97509/240.46 miEllacombe Church Road, Torquay, Devon3
£96012/230.47 mi-3
£1,00001/250.47 mi-3
£1,16002/240.47 mi-4
£99811/240.47 mi-4
£1,15001/250.48 mi-4
£1,40009/240.54 miForest Road, Torquay3
£1,43009/240.57 mi-4
£1,20001/250.57 mi-3
£1,50001/250.57 mi-3
£1,60004/250.57 mi-3
£1,40001/250.61 mi-4

Local Area Statistics

Population in TQ1

31,207

Population in Torquay

65,319

Town centre distance

0.93 miles away

Nearest school

0.20 miles away

Nearest train station

0.80 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-3%

Sales demand

Buyer's market

Capital growth (5yrs)

+21%

Property History

Price changed to £260,000

February 8, 2025

Listed for £275,000

January 14, 2025

Floor Plans

Description

  • Character features +
  • Enclosed Garden +
  • Garage +
  • In need of full refurbishment +
  • Spacious throughout +
  • Currently set up as 2 apartments +

An excellent opportunity to restore a charming Grade II listed home, or maintain its current layout as two apartments perfect for rental income. Ideally located just a short walk from Torquay, with local schools and transport links nearby. A fantastic potential investment in a prime location!

This property is currently arranged as 2 apartments, offering an excellent investment opportunity or the potential to be converted back into a characterful home.

On the entry level is a 1 bedroom apartment that benefits from 2 reception rooms, a kitchen, large double bedrooms, bathroom and separate WC.

Upstairs is a large 3 bedroom apartment that comprises a lounge, generous kitchen, 3 bedrooms, bathroom and separate WC.

To the rear is an enclosed garden that has an area of concreate and grass lawn. It also benefits from a garage!

Council Tax Band: B & B (Torbay Council)
Tenure: Freehold
Please note the property is set up as 2 flats however it is under 1 freehold title.
Restrictions: Listed building

Agent Details

I Move Estate Agents, Torquay

01803 221968

Next Steps?

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