2 Bed Bungalow, Refurb/BRRR, Torrington, EX38 8PR, £280,000

Torrington, Devon, EX38 8PR - 1 views - 3 months ago

Sold STC
Refurb/BRRR
~68 m²
+10 photos

ValuationOvervalued

Sold Prices£102K - £329K
Sold Prices/m²£1.6K/m² - £6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.1K/m²

Value Estimate

£190,193

 

 

End Value (After Refurb)

£260,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£70,000

Stamp Duty & Legal Fees

£16,700

Refurb Costs

£27,830

Bridging Loan Interest

£7,350

Total Cash In

£123,630

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£260,000

Mortgage (After Refinance)

£195,000

Mortgage LTV

75%

Cash Left In

£123,630

Equity

£65,000

Rent Range

£65 - £1,300

Rent Estimate

£808

Running Costs/mo

£994

Cashflow/mo

£-186

Cashflow/yr

£-2,233

Gross Yield

3%

Local Sold Prices

49 sold prices from £102K to £329K, average is £190K. £1.6K/m² to £6K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£202K05/211.04 mi24, St Marys Close, Torrington, Devon EX38 8AS2
£240K12/201.04 mi8, St Marys Close, Torrington, Devon EX38 8AS2
£270K11/211.06 mi12, St Marys Close, Torrington, Devon EX38 8AS2
£186K11/201.2 mi88, Mill Street, Torrington, Devon EX38 8AW2
£185K05/211.2 mi94, Mill Street, Torrington, Devon EX38 8AW2
£186K11/201.2 mi88, Mill Street, Torrington, Devon EX38 8AW2
£190K08/211.25 mi80, Mill Street, Torrington, Devon EX38 8AN2
£220K07/211.25 miPickwick Cottage, 89, Mill Street, Torrington, Devon EX38 8AN2
£135K07/231.25 mi71, Mill Street, Torrington, Devon EX38 8AN2
£200K07/231.25 miPickwick Cottage, 89, Mill Street, Torrington, Devon EX38 8AN2
£320K07/221.26 mi63, Mill Street, Torrington, Devon EX38 8AL2
£190K02/231.29 mi11, Mill Street, Torrington, Devon EX38 8AL2
£280K12/201.29 mi31, Mill Street, Torrington, Devon EX38 8AL2
£102K11/201.29 mi6a, Mill Street, Torrington, Devon EX38 8AL2
£180K07/211.29 mi37, Mill Street, Torrington, Devon EX38 8AL2
£250K09/221.34 mi25, Holwill Drive, Torrington, Devon EX38 7LQ2
£200K06/221.39 mi147, Castle Hill Gardens, Torrington, Devon EX38 8EX2
£195K07/231.42 mi132, New Street, Torrington, Devon EX38 8BU2
£148K05/211.42 mi122, New Street, Torrington, Devon EX38 8BT2
£108K03/211.42 mi97, New Street, Torrington, Devon EX38 8BT2
£217K12/221.42 mi143, New Street, Torrington, Devon EX38 8BU2
£180K09/211.42 mi34, Castle Hill Gardens, Torrington, Devon EX38 8ET2
£170K01/211.44 mi176, New Street, Torrington, Devon EX38 8BX2
£180K04/231.44 mi4, Cornmarket Street, Torrington, Devon EX38 8EY2
£160K12/221.44 mi29, New Street, Torrington, Devon EX38 8BS2
£136K03/211.46 miHopton's Folly Cottage, Church Walk, Torrington, Devon EX38 8HS2
£200K01/231.53 mi42b, Well Street, Torrington, Devon EX38 7BW2
£160K05/211.53 mi19, Holwill Drive, Torrington, Devon EX38 7LQ2
£240K09/221.53 mi53, Holwill Drive, Torrington, Devon EX38 7LQ2
£190K06/221.55 mi42a, Well Street, Torrington, Devon EX38 7BW2
£160K06/231.55 mi73a, Well Street, Torrington, Devon EX38 7BW2
£164K12/201.57 mi38, Caddywell Meadow, Torrington, Devon EX38 7NZ2
£329K04/231.57 mi18, Caddywell Meadow, Torrington, Devon EX38 7NZ2
£170K08/231.59 mi54, Calf Street, Torrington, Devon EX38 7BG2
£170K06/211.6 mi5, Oakwell Close, Torrington, Devon EX38 7PA2
£175K03/221.6 mi2, Caddywell Lane, Torrington, Devon EX38 7EE2
£200K01/231.6 mi86, Well Street, Torrington, Devon EX38 7BN2
£317.5K01/231.63 mi39, Rosemoor Road, Torrington, Devon EX38 7NB2
£195K06/211.63 mi8, Rosemoor Road, Torrington, Devon EX38 7NB2
£170K03/211.63 mi21, Rosemoor Road, Torrington, Devon EX38 7NB2
£135K02/211.63 mi70, Calf Street, Torrington, Devon EX38 7BH2
£190K06/231.63 mi78, Calf Street, Torrington, Devon EX38 7BH2
£223K10/221.65 mi16, Roscoff Close, Torrington, Devon EX38 7ND2
£175K06/211.7 mi88, Trafalgar Drive, Torrington, Devon EX38 7AB2
£205K01/231.7 mi9, Trafalgar Drive, Torrington, Devon EX38 7AD2
£200K04/211.74 mi63, Burwood Road, Torrington, Devon EX38 7NQ2
£235K03/211.8 miSunrise, Berry Cross, Langtree, Torrington, Devon EX38 8NT2
£305K07/221.82 mi9, Prideaux Meadow, Torrington, Devon EX38 7NH2
£280K12/221.82 mi8, Prideaux Meadow, Torrington, Devon EX38 7NH2

Local Rents

14 rents from £65/mo to £1.3K/mo, average is £763/mo.

RentDateDistanceAddressBeds 
£90004/240.77 miWest Ford Farm Cottage, Little Torrington, Devon3
£6504/241.22 miSandford Gardens, Torrington1
£90004/241.39 miCastle Hill Gardens, Great Torrington, EX383
£70004/241.45 mi-3
£70003/241.46 miBank House, Great Torrington, Devon2
£48504/241.46 miChurch Walk, Great Torrington, Devon1
£71005/241.48 miWell Street, Great Torrington, Devon2
£65004/241.55 miNew Road, Great Torrington, Devon2
£75004/241.63 miOakwell Close, Great Torrington, Devon2
£77505/241.68 miVictory Way, Devon2
£87504/241.69 miMorton Drive, Torrington3
£1,30004/241.72 miTrafalgar Drive, Torrington5
£1,30004/241.72 miTrafalgar Drive, Torrington5
£1,20010/241.73 mi-5

Local Area Statistics

Population in EX38

8,260

Town centre distance

1.55 miles away

Nearest school

1.50 miles away

Nearest train station

8.01 miles away

 

 

Rental growth (12m)

-8%

Sales demand

Balanced market

Capital growth (5yrs)

+34%

Property History

Listed for £280,000

February 5, 2025

Floor Plans

Description

  • Good sized two bedroom detached bungalow +
  • Extended +
  • Large plot of around 1/3 acre +
  • Lovely countryside views +
  • In need of modernisation +
  • Large single garage +
  • No onward chain +

This modern detached bungalow on the edge of a charming village offers a perfect blend of convenience and location. Boasting two generously sized bedrooms, this property is ideal for a small family or those seeking a countryside retreat. The bungalow is accessible and affordable, with a bright and spacious interior that is flooded with natural light. Enjoy the scenic views from the well-manicured garden, perfect for relaxing or entertaining guests. Resident parking and a garage provide ample space for vehicles and storage. This property is a rare find, offering a comfortable and inviting living space in a desirable location. Don't miss out on the opportunity to make this bungalow your new home. Contact us today to arrange a viewing.

The bungalow does require modernisation throughout but offers the perfect opportunity to make this your forever home. Yes it fronts onto the road but this in turn provides an open aspect allowing for miles of countryside views and a glimpse of Dartmoor on a clear day.

The vendor informs us that the property is of block and render construction under a tiled roof . Your surveyor or conveyancer may be able to clarify further following their investigations. The property is serviced by oil fired central heating and the addition of an immersion heater. Mains electric and water are connected as well as mains drainage.

Broadband: Superfast speeds available up to 80 mbps. (Information taken from Ofcom checker)

Mobile phone: Coverage available onsite (see Ofcom checker for further information)

Directions
From the centre of Torrington proceed in a southerly direction on the A386 signposted Hatherleigh/Okehampton and after approximately 2 miles at the top of the hill take the second turning left, signposted Little Torrington to where the bungalow is immediately located on your right hand side.

Agent Details

Bond Oxborough Phillips, Torrington

020 3869 5476

Next Steps?

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