2 Bed Terraced House, Refurb/BRRR, Barnstaple, EX32 7BT, £160,000

59 Vicarage Street, Barnstaple, Devon, EX32 7BT - 2 views - 3 months ago

Refurb/BRRR
ROI: 2%
~68 m²
+7 photos

ValuationUndervalued

Sold Prices£92K - £345K
Sold Prices/m²£1.4K/m² - £5.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£178,500
BMV2%

 

 

End Value (After Refurb)

£168,800

Uplift in Value

+-4%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£6,450

Refurb Costs

£27,830

Bridging Loan Interest

£4,200

Total Cash In

£80,230

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£168,800

Mortgage (After Refinance)

£126,600

Mortgage LTV

75%

Cash Released

£6,600

Cash Left In

£73,630

Equity

£42,200

Rent Range

£675 - £1,100

Rent Estimate

£852

Running Costs/mo

£718

Cashflow/mo

£134

Cashflow/yr

£1,609

ROI

2%

Gross Yield

6%

Local Sold Prices

51 sold prices from £92K to £345K, average is £182.5K. £1.4K/m² to £5.6K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£185K06/210.03 mi4, Vicarage Lawn, Barnstaple, Devon EX32 7BW2
£160K01/210.07 mi43, Charles Street, Barnstaple, Devon EX32 7BG2
£169.4K02/210.07 mi26, Charles Street, Barnstaple, Devon EX32 7BG2
£170K04/210.07 mi34, Charles Street, Barnstaple, Devon EX32 7BG2
£155K12/220.09 mi1, Higher Maudlin Street, Barnstaple, Devon EX32 7BJ2
£155.5K09/210.13 mi14, Gaydon Street, Barnstaple, Devon EX32 7DN2
£92K12/200.16 mi8, Lower Gaydon Street, Barnstaple, Devon EX32 7DW2
£185K12/200.17 mi34, Richmond Street, Barnstaple, Devon EX32 7DP2
£167K10/210.17 mi8, Richmond Street, Barnstaple, Devon EX32 7DP2
£205K01/230.17 mi3, Grosvenor Street, Barnstaple, Devon EX32 7DT2
£182.5K03/210.24 mi7, Carlyle Avenue, Barnstaple, Devon EX32 7AL2
£223K05/230.28 mi5, St Marys Road, Barnstaple, Devon EX32 7EY2
£165K06/230.29 mi6, Pilton Street, Barnstaple, Devon EX31 1PE2
£165K06/230.29 mi6, Pilton Street, Barnstaple, Devon EX31 1PE2
£230K12/210.3 mi7, Pilton Quay, Barnstaple, Devon EX31 1PB2
£207.5K01/230.35 mi20, Greenmeadow Drive, Barnstaple, Devon EX31 4HT2
£157K04/210.35 mi18, Salem Street, Barnstaple, Devon EX32 8JF2
£185K11/220.37 mi8, Western Terrace, Barnstaple, Devon EX31 1JG2
£163K06/230.37 mi12, Western Terrace, Barnstaple, Devon EX31 1JG2
£180K05/230.39 mi26, Pilton Street, Barnstaple, Devon EX31 1PJ2
£165K02/230.39 mi18, Greenmeadow Drive, Barnstaple, Devon EX31 4HT2
£202.5K08/230.39 mi50, Greenmeadow Drive, Barnstaple, Devon EX31 4HT2
£345K08/230.4 mi3, Raleigh Heights, Barnstaple, Devon EX31 1ND2
£197.5K10/220.43 mi81a, Pilton Street, Barnstaple, Devon EX31 1PQ2
£220K12/200.43 mi73, Chanters Hill, Barnstaple, Devon EX32 8DD2
£203K12/200.43 mi68, Chanters Hill, Barnstaple, Devon EX32 8DD2
£185K12/220.44 mi28, Litchdon Street, Barnstaple, Devon EX32 8ND2
£168.5K04/210.45 mi45, The Rock, Barnstaple, Devon EX31 1PN2
£195K08/220.48 mi7, Barbican Road, Barnstaple, Devon EX32 9HW2
£132.5K07/210.48 mi14, Barbican Road, Barnstaple, Devon EX32 9HW2
£285K04/230.48 mi103, Chanters Hill, Barnstaple, Devon EX32 8DQ2
£259.5K05/230.48 mi59, Chanters Hill, Barnstaple, Devon EX32 8DQ2
£257.5K06/230.48 mi102, Chanters Hill, Barnstaple, Devon EX32 8DQ2
£140K03/210.48 mi17, Clifton Street, Sticklepath, Barnstaple, Devon EX31 2AZ2
£189.9K04/230.48 mi6, Clifton Street, Sticklepath, Barnstaple, Devon EX31 2AZ2
£217K11/200.49 mi7, Chanters Hill, Barnstaple, Devon EX32 8DN2
£220K07/210.49 mi12, Chanters Hill, Barnstaple, Devon EX32 8DN2
£270K12/220.49 mi24, Chanters Hill, Barnstaple, Devon EX32 8DN2
£159K02/210.5 mi17, Raleigh Cottages, Barnstaple, Devon EX31 4HZ2
£122.5K06/210.5 mi10, Raleigh Cottages, Barnstaple, Devon EX31 4HZ2
£151K10/210.5 mi4, Raleigh Cottages, Barnstaple, Devon EX31 4HZ2
£229.9K11/200.5 miSutherlea, Barbican Lane, Barnstaple, Devon EX32 8LB2
£275K11/220.51 mi1, Firs Grove, Barnstaple, Devon EX32 8BX2
£314K02/230.52 mi4, Ravelin Manor Road, Barnstaple, Devon EX32 8BY2
£175K05/210.53 mi43b, Beaufort Walk, Barnstaple, Devon EX32 7JD2
£150K07/210.53 mi31, Beaufort Walk, Barnstaple, Devon EX32 7JD2
£175K02/230.53 mi88, Long Meadow Drive, Barnstaple, Devon EX32 7RD2
£150K03/210.57 mi180, Long Meadow Drive, Barnstaple, Devon EX32 7RE2
£150K06/210.57 mi152, Long Meadow Drive, Barnstaple, Devon EX32 7RE2
£160K08/210.57 mi192, Long Meadow Drive, Barnstaple, Devon EX32 7RE2
£225K02/210.59 mi40, Chanters Hill, Barnstaple, Devon EX32 8DW2

Local Rents

24 rents from £675/mo to £1.1K/mo, average is £825/mo.

RentDateDistanceAddressBeds 
£69504/240.03 miLoverings Court, Barnstaple, EX312
£97510/230.06 mi-2
£69503/240.09 miBoutport Street, Barnstaple, Devon, EX312
£72504/240.14 miBarnstaple2
£92503/240.14 miRegent House, Queens Street2
£92504/240.19 miQueen Street, Barnstaple2
£92505/240.21 miQueen Street, Barnstaple2
£92504/240.21 miQueen Street, Barnstaple2
£67504/240.26 miDoone House, Barnstaple, Devon2
£79502/250.27 mi-2
£85004/240.28 miPilton Quayside, Barnstaple2
£95011/230.34 mi-2
£80001/240.34 mi-2
£85009/230.34 mi-2
£1,10011/230.36 mi-2
£1,10009/240.36 mi-2
£80003/240.4 miAshleigh Road, Barnstaple, EX322
£1,10011/230.41 mi-2
£75003/240.45 miPilton, Barnstaple2
£80004/240.51 mi-2
£72504/240.54 miLong Meadow Drive, Barnstaple, Devon, EX322
£72504/240.54 miLong Meadow Drive, Barnstaple, Devon, EX322
£85003/240.57 miLong Meadow Drive, Barnstaple2
£78505/240.6 miLong Meadow Drive2

Local Area Statistics

Population in EX32

23,896

Population in Barnstaple

48,982

Town centre distance

0.25 miles away

Nearest school

0.20 miles away

Nearest train station

0.61 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+33%

Sales demand

Buyer's market

Capital growth (5yrs)

+13%

Property History

Price changed to £160,000

March 12, 2025

Listed for £175,000

January 29, 2025

Floor Plans

Description

  • Central location +
  • Renovation project +
  • Two bedrooms +
  • Great potential +

A fantastic opportunity to acquire this two-bedroom terraced property in need of full renovation, offering excellent potential for those looking to create their ideal home or an investment project in a central location of Barnstaple.

59 Vicarage Street is a bright property throughout with fantastic high ceilings in every room. The property comprises an entrance hall with characterful and traditional patterned, feature floor tiles, a front living room, with an additional and spacious sitting/dining room, providing flexible ground floor living spaces. To the rear is a separate kitchen, with base units currently across one wall and wall units across the other, leading to a small pantry/ store. Upstairs, there are two well-proportioned, light bedrooms and a spacious family bathroom comprising bath, wash basin and toilet.

Barnstaple, the historic and regional centre of North Devon has an extensive range of commercial, educational and recreational facilities benefitting from a variety of banking, schooling, a theatre, cinema, leisure centre and restaurants, combining modern shopping amenities with a bustling market atmosphere. Popular sandy beaches of Westward Ho!, Instow, Saunton, Croyde and Woolacombe are within easy reach. The cathedral city of Exeter with its university, airport, inter-rail and motorway links is just some 42 miles in distance.
Bishops Tawton has easy access onto the A361 North Devon link road, provides easy access to Tiverton and the M5 motorway (Junction 27) with mainline intercity rail links available at Tiverton Parkway (London, Paddington approx. 2 hours) and international airports at Exeter and Bristol.

Externally, the property benefits from a small but useful undercover step area to the front.
There is also a rear courtyard with outside toilet. There is currently a reasonably sized garden shed here, with plenty of space still for bin storage, pots and plants.

Agent Details

Greenslade Taylor Hunt, Barnstaple

01271 444387

Next Steps?

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