3 Bed Semi-Detached House, Refurb/BRRR, Barnstaple, EX31 1QS, £150,000

1 Lake Cottage, Ladywell, Barnstaple, Devon, EX31 1QS - 1 views - 3 months ago

Under Offer
BTL
Refurb/BRRR
ROI: 6%
81 m²
+10 photos

ValuationFair Value

Sold Prices£150K - £325K
Sold Prices/m²£1.6K/m² - £4K/m²

 

 

Square Metres

81 m²
Price/m²£1.9K/m²

Value Estimate

£153,000

 

 

End Value (After Refurb)

£215,973

Uplift in Value

+44%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£37,500

Stamp Duty & Legal Fees

£5,700

Refurb Costs

£32,914

Bridging Loan Interest

£3,938

Total Cash In

£81,802

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£215,973

Agent Fees (1%)

£2,160

Bridging Loan

£112,500

Bridging Loan Interest

£3,938

Flip Profit

£19,511

Local Sold Prices

50 sold prices from £150K to £325K, average is £224K. £1.6K/m² to £4K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£300K03/210.03 mi15, Ladywell, Barnstaple, Devon EX31 1QT3
£271.1K09/210.06 mi29, Nursery End, Barnstaple, Devon EX31 1RA3
£266K07/230.06 mi24, Nursery End, Barnstaple, Devon EX31 1RA3
£282K10/220.07 mi7, Priory Close, Barnstaple, Devon EX31 1QX3
£215K02/210.09 mi5, Abbey Road, Barnstaple, Devon EX31 1QY3
£288K04/230.09 mi27, Abbey Road, Barnstaple, Devon EX31 1QY3
£160K11/220.1 mi65, The Rock, Barnstaple, Devon EX31 1PN3
£230K04/230.11 mi10, Priory Gardens, Barnstaple, Devon EX31 1PT3
£205K11/200.17 mi8, Broadgate Close, Barnstaple, Devon EX31 4AL3
£220K03/210.2 mi31, Bellaire Drive, Barnstaple, Devon EX31 4AH3
£295K06/210.22 mi41, Northfield Lane, Barnstaple, Devon EX31 1QE3
£268K11/220.22 mi41, Crosspark Close, Barnstaple, Devon EX31 4AN3
£220K05/210.22 mi4, Crosspark Close, Barnstaple, Devon EX31 4AN3
£210K08/210.22 mi27, Fair View, Barnstaple, Devon EX31 1JS3
£170K03/230.22 mi48, Fair View, Barnstaple, Devon EX31 1JS3
£150K01/210.29 mi20, Fair View, Barnstaple, Devon EX31 1JR3
£230K06/210.29 mi12, Warwick Terrace, Barnstaple, Devon EX32 7AR3
£325K11/200.3 mi84, Chaddiford Lane, Barnstaple, Devon EX31 1RF3
£248K10/210.32 mi3, St Georges Terrace, Barnstaple, Devon EX32 7AP3
£260K03/230.33 mi3, Granville Avenue, Barnstaple, Devon EX32 7AH3
£202K05/210.33 mi14, Granville Avenue, Barnstaple, Devon EX32 7AH3
£325K05/230.34 mi8, Haldene Terrace, Barnstaple, Devon EX32 7AQ3
£215K01/210.35 mi18, Yeo Vale Road, Barnstaple, Devon EX32 7AB3
£235K09/210.36 mi5, Meadow Road, Barnstaple, Devon EX31 4AF3
£200K04/210.36 mi25, Carlyle Avenue, Barnstaple, Devon EX32 7AL3
£220K11/200.36 mi3, Carlyle Avenue, Barnstaple, Devon EX32 7AL3
£228K09/210.36 mi22, Rolle Street, Barnstaple, Devon EX31 1JN3
£195K03/210.36 mi5, Rolle Street, Barnstaple, Devon EX31 1JN3
£281K10/220.38 mi35, Greenmeadow Drive, Barnstaple, Devon EX31 4HT3
£190K01/210.38 mi4, Margrove Terrace, Barnstaple, Devon EX32 7AD3
£259.9K06/210.38 mi20, Youings Drive, Barnstaple, Devon EX31 1QL3
£170K01/210.38 mi5, Wimborne Terrace, Barnstaple, Devon EX32 7AN3
£215K06/210.4 mi14, Coronation Street, Barnstaple, Devon EX32 7AY3
£283K02/230.4 mi43, Carrington Terrace, Barnstaple, Devon EX32 7AF3
£195K09/210.4 mi41, Carrington Terrace, Barnstaple, Devon EX32 7AF3
£241K07/230.4 mi44, Carrington Terrace, Barnstaple, Devon EX32 7AF3
£193.3K01/210.41 mi27, Pottington Road, Barnstaple, Devon EX31 1JH3
£165K12/200.41 mi11, Pottington Road, Barnstaple, Devon EX31 1JH3
£242K11/200.41 mi24, Barlow Road, Barnstaple, Devon EX31 1TR3
£200.1K02/210.41 mi26, Pottington Road, Barnstaple, Devon EX31 1JH3
£300K03/210.42 mi10, Westaway Close, Barnstaple, Devon EX31 1RU3
£265K03/210.42 mi27, Westaway Close, Barnstaple, Devon EX31 1RU3
£180K03/210.42 mi31, Coronation Street, Barnstaple, Devon EX32 7AZ3
£290K01/230.43 mi28, Westaway Close, Barnstaple, Devon EX31 1RU3
£203K12/200.45 mi16, King Edward Street, Barnstaple, Devon EX32 7BE3
£200K07/210.45 mi22, King Edward Street, Barnstaple, Devon EX32 7BE3
£315K07/230.47 mi19, Chaddiford Lane, Barnstaple, Devon EX31 1RE3
£156K05/210.47 mi33, Westaway Heights, Barnstaple, Devon EX31 1NY3
£182.5K05/210.53 mi16, Vicarage Lawn, Barnstaple, Devon EX32 7BW3
£250K05/230.54 mi30, St Marys Road, Barnstaple, Devon EX32 7EY3

Local Rents

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

RentDateDistanceAddressBeds 
£95004/240.35 miGranville Avenue, Barnstaple, Devon, EX323
£2,50001/250.6 mi-3
£2,50002/250.6 mi-3
£1,50002/250.6 mi-3
£78505/240.61 mi-3
£78505/240.61 mi-3
£1,20009/240.61 mi-3
£73005/240.67 miBoutport Street, Barnstaple, Devon3
£1,00010/240.71 mi-3
£92503/240.92 miMartin Road, Barnstaple, Devon, EX323
£1,35005/241.08 miWestfield Avenue, Barnstaple, Devon3

Local Area Statistics

Population in EX31

25,086

Population in Barnstaple

48,982

Town centre distance

0.66 miles away

Nearest school

0.10 miles away

Nearest train station

1 miles away

 

 

Rental growth (12m)

+25%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £150,000

January 27, 2025

Floor Plans

Description

  • Central location +
  • In need of general modernisation +
  • Grade II Listed +
  • 3 Storey cottage +
  • Sizeable garden +
  • Hall, Sitting Room, Bathroom +
  • 2 Bedrooms, Study/Bedroom 3 +
  • Courtyard, Store Room +
  • Freehold +
  • Council Tax Band B +

Grade II Listed end of terrace cottage. In need of refurbishment/modernisation. Larger than average garden. Entrance Hall/Sitting Room, Kitchen/Breakfast Room, 2 First Floor Bedrooms, Family Bathroom, Study/Bedroom 3 on 2nd Floor. Courtyard and Outbuilding. Freehold. EPC E. Council Tax Band B

Situation And Amenities - Situated on a quiet no through lane, in the heart of the sought after residential area of Pilton, the old part of Barnstaple, within walking distance of local amenities including infants, junior and secondary schools. North Devon Hospital is also within West Pilton parish. It has a Church Hall, two public houses, two hotels, and a historic Church that dates back to at least the 11th Century.
Barnstaple is the Historic and Regional Centre of North Devon, and houses the area's main business, leisure and shopping venues. From Barnstaple there is access to the North Devon Link Road which leads on in about 45 minutes to Junction 27 of the M5 Motorway, and where Tiverton Parkway offers a fast service of trains to London Paddington in just over 2 hours. The Famous coastal resorts of Woolacombe, Croyde and Instow are all within easy excess as is Exmoor National Park.

Description - A Grade ll listed, end of terrace cottage, offered with no onward chain, in need of modernisation. The property presents elevations of painted render and wooden windows under a tiled roof. The layout briefly comprises on the ground floor; Entrance hall, sitting room with fireplace, kitchen. On the first floor there are 2 bedrooms and a bathroom. On the second floor is a good sized room which would be an ideal study/bedroom 3. At the rear of the property is a courtyard with a stone outbuilding. To the side is a raised garden. The accommodation and room dimensions are more clearly shown on the accompanying floorplan, but comprise:

Ground Floor - ENTRANCE LOBBY to HALLWAY with door to SITTING ROOM Window to front, stone fireplace. hatch through to KITCHEN Window and wooden door to rear courtyard, space for cooker, fitted storage, stainless steel sink, door and stairs to;

First Floor - LANDING stairs to second floor. Door to BEDROOM 1 window to rear elevation, wall mounted gas boiler. BEDROOM 2 Window to front elevation. BATHROOM Window to front elevation.

Second Floor - Large room which would make an ideal STUDY/BEDROOM 3 Composite double glazed windows in dormer, feature fireplace.

Outside - Gate to side of property allows access to rear courtyard with large store room. Steps up to a lawned area with mature shrubs.

Parking - Parking is on street on a first come, first serve basis. We understand residents permits are also available in this area - please contact North Devon Council for more information.

Services - We understand that there is mains electricity, gas, water and drainage are connected.

According to Ofcom, Gigabit broadband is available at the property and there is the likelihood of coverage from several mobile phone networks. For more information please see the Ofcom website:

Lettings - If you are considering investing in a Buy To Let or letting another property, and require advice on current rents, yields or general lettings information to ensure you comply, then please contact a member of our lettings team on or rentals. .

Directions - Leave Barnstaple town centre in the direction of the A39. At the traffic lights with the Texaco garage turn left, and then immediately right into Pilton High Street. Continue to the top of the road and keep left, turning onto Bull Hill. Continue, after approximately 125 metres, you will find Lake Cottages on the right hand side with no. 1 being at the far end.

What3Words ///focus.pass.earth

Agent Details

Stags, Barnstaple

01271 441158

Next Steps?

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