3 Bed Terraced House, Refurb/BRRR, Barnstaple, EX31 1JR, £199,950

71 Fair View, Pilton, Barnstaple, Devon, EX31 1JR - 1 views - 3 months ago

Refurb/BRRR
ROI: 3%
~93 m²

ValuationUndervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£49,988

Stamp Duty & Legal Fees

£7,500

Refurb Costs

£37,790

Bridging Loan Interest

£5,249

Total Cash In

£102,277

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£237,734

Mortgage (After Refinance)

£178,300

Mortgage LTV

75%

Cash Released

£28,338

Cash Left In

£73,939

Equity

£59,433

Rent Range

£730 - £2,500

Rent Estimate

£1,295

Running Costs/mo

£1,022

Cashflow/mo

£273

Cashflow/yr

£3,277

ROI

3%

Gross Yield

8%













Local Rents

12 rents from £730/mo to £2.5K/mo, average is £975/mo.

RentDateDistanceAddressBeds 
£95004/240.32 miGranville Avenue, Barnstaple, Devon, EX323
£73005/240.47 miBoutport Street, Barnstaple, Devon3
£78505/240.48 mi-3
£78505/240.48 mi-3
£1,20009/240.52 mi-3
£2,50001/250.52 mi-3
£2,50002/250.52 mi-3
£1,50002/250.52 mi-3
£1,00010/240.53 mi-3
£1,35005/240.78 miWestfield Avenue, Barnstaple, Devon3
£92503/240.9 miMartin Road, Barnstaple, Devon, EX323
£80011/241.24 mi-3

Local Area Statistics

Population in EX31

25,086

Population in Barnstaple

48,982

Town centre distance

0.42 miles away

Nearest school

0.20 miles away

Nearest train station

0.73 miles away

 

 

Rental growth (12m)

+25%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Price changed to £199,950

March 8, 2025

Listed for £210,000

January 25, 2025

Floor Plans

Description

  • Mid Terraced House +
  • In Need Of Updating And Improvement +
  • Three Bedrooms +
  • Rear Garden +
  • Generously Proportioned Rooms +
  • Off Road Parking Space +
  • Close Proximity To Amenities +
  • Potential To Add Value +
  • No Onward Chain +

John Smale & Co are delighted to offer to the market this THREE BEDROOM TERRACED HOUSE in NEED OF GENERAL MODERNISATION AND IMPROVEMENT and being within easy level walking distance to Barnstaple Town Centre and all the amenities it offers, offering fantastic potential to add value throughout. Entering the property over the PAVED PATIO AREA to the front you are greeted by a MODEST ENTRANCE HALL, perfect for shoes and coats. There is a well-proportioned and bright LOUNGE with front aspect double glazed window, a gas fireplace and useful under-stairs storage. The KITCHEN-DINER is bright and airy with rear facing window and sliding door giving access to the REAR GARDEN which allows plenty of light to the room. The KITCHEN benefits from fitted cabinet storage, a four ring gas hob cooker and washer dryer and with a bit of love, this room could be a fantastic hub for entertaining in, as it leads to the part-lawn, part-paved REAR GARDEN.  From the ENTRANCE HALL stairs lead to the FIRST FLOOR LANDING, where there are THREE BEDROOMS and a WALK-IN SHOWER ROOM/WET ROOM with shower, low level W/C and pedestal wash hand basin.  The main bedroom is a fantastic size and features built-in wardrobe space and front aspect double glazed window. Bedroom Two has a rear aspect with double glazed window and plenty of space for standing units. Bedroom Three is well-proportioned, which has built-in storage and front facing double glazed window. The REAR GARDEN is part lawn and part paved. At the end of the garden is an OFF ROAD PARKING SPACE for one vehicle.

Agent Details

John Smale & Co, Barnstaple

01271 443504

Next Steps?

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