2 Bed Terraced House, Refurb/BRRR, Barnstaple, EX32 8HR, £125,000

16 SILVER STREET, BARNSTAPLE, EX32 8HR - 1 views - 2 months ago

BTL
Refurb/BRRR
ROI: 4%
~72 m²
+7 photos

ValuationFair Value

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

 

 

Square Metres

~72.20 m²
Price/m²£1.7K/m²

Value Estimate

£126,250

 

 

End Value (After Refurb)

£141,261

Uplift in Value

+13%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£31,250

Stamp Duty & Legal Fees

£7,450

Refurb Costs

£29,501

Bridging Loan Interest

£3,281

Total Cash In

£73,232

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£141,261

Mortgage (After Refinance)

£105,946

Mortgage LTV

75%

Cash Released

£12,196

Cash Left In

£61,037

Equity

£35,315

Rent Range

£675 - £1,100

Rent Estimate

£859

Running Costs/mo

£633

Cashflow/mo

£226

Cashflow/yr

£2,709

ROI

4%

Gross Yield

8%

Local Sold Prices

51 sold prices from £92K to £345K, average is £189K. £1.4K/m² to £5.6K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£157K04/210.14 mi18, Salem Street, Barnstaple, Devon EX32 8JF2
£185K06/210.2 mi4, Vicarage Lawn, Barnstaple, Devon EX32 7BW2
£205K01/230.2 mi3, Grosvenor Street, Barnstaple, Devon EX32 7DT2
£155.5K09/210.21 mi14, Gaydon Street, Barnstaple, Devon EX32 7DN2
£185K12/220.22 mi28, Litchdon Street, Barnstaple, Devon EX32 8ND2
£185K12/200.24 mi34, Richmond Street, Barnstaple, Devon EX32 7DP2
£92K12/200.24 mi8, Lower Gaydon Street, Barnstaple, Devon EX32 7DW2
£167K10/210.24 mi8, Richmond Street, Barnstaple, Devon EX32 7DP2
£160K01/210.28 mi43, Charles Street, Barnstaple, Devon EX32 7BG2
£169.4K02/210.28 mi26, Charles Street, Barnstaple, Devon EX32 7BG2
£170K04/210.28 mi34, Charles Street, Barnstaple, Devon EX32 7BG2
£155K12/220.29 mi1, Higher Maudlin Street, Barnstaple, Devon EX32 7BJ2
£132.5K07/210.29 mi14, Barbican Road, Barnstaple, Devon EX32 9HW2
£195K08/220.29 mi7, Barbican Road, Barnstaple, Devon EX32 9HW2
£229.9K11/200.34 miSutherlea, Barbican Lane, Barnstaple, Devon EX32 8LB2
£220K12/200.34 mi73, Chanters Hill, Barnstaple, Devon EX32 8DD2
£203K12/200.34 mi68, Chanters Hill, Barnstaple, Devon EX32 8DD2
£140K03/210.37 mi17, Clifton Street, Sticklepath, Barnstaple, Devon EX31 2AZ2
£189.9K04/230.37 mi6, Clifton Street, Sticklepath, Barnstaple, Devon EX31 2AZ2
£275K11/220.4 mi1, Firs Grove, Barnstaple, Devon EX32 8BX2
£285K04/230.4 mi103, Chanters Hill, Barnstaple, Devon EX32 8DQ2
£259.5K05/230.4 mi59, Chanters Hill, Barnstaple, Devon EX32 8DQ2
£257.5K06/230.4 mi102, Chanters Hill, Barnstaple, Devon EX32 8DQ2
£223K05/230.41 mi5, St Marys Road, Barnstaple, Devon EX32 7EY2
£314K02/230.42 mi4, Ravelin Manor Road, Barnstaple, Devon EX32 8BY2
£171.5K01/210.43 mi39, Gloster Road, Barnstaple, Devon EX32 9JR2
£200K03/210.43 mi18, Gloster Road, Barnstaple, Devon EX32 9JR2
£217K11/200.44 mi7, Chanters Hill, Barnstaple, Devon EX32 8DN2
£182.5K03/210.44 mi7, Carlyle Avenue, Barnstaple, Devon EX32 7AL2
£220K07/210.44 mi12, Chanters Hill, Barnstaple, Devon EX32 8DN2
£270K12/220.44 mi24, Chanters Hill, Barnstaple, Devon EX32 8DN2
£185K11/220.48 mi8, Western Terrace, Barnstaple, Devon EX31 1JG2
£163K06/230.48 mi12, Western Terrace, Barnstaple, Devon EX31 1JG2
£242K01/230.48 mi1, Brookdale Terrace, Barnstaple, Devon EX32 9HZ2
£165K06/230.5 mi6, Pilton Street, Barnstaple, Devon EX31 1PE2
£165K06/230.5 mi6, Pilton Street, Barnstaple, Devon EX31 1PE2
£225K02/210.5 mi40, Chanters Hill, Barnstaple, Devon EX32 8DW2
£230K12/210.51 mi7, Pilton Quay, Barnstaple, Devon EX31 1PB2
£207.5K01/230.54 mi20, Greenmeadow Drive, Barnstaple, Devon EX31 4HT2
£175K05/210.54 mi43b, Beaufort Walk, Barnstaple, Devon EX32 7JD2
£150K07/210.54 mi31, Beaufort Walk, Barnstaple, Devon EX32 7JD2
£125K05/230.56 mi26, Cyprus Terrace, Barnstaple, Devon EX32 9JG2
£165K02/230.57 mi18, Greenmeadow Drive, Barnstaple, Devon EX31 4HT2
£202.5K08/230.57 mi50, Greenmeadow Drive, Barnstaple, Devon EX31 4HT2
£247.5K12/220.58 mi12, Britten Drive, Barnstaple, Devon EX32 8AQ2
£252.5K07/220.59 mi14, Britten Drive, Barnstaple, Devon EX32 8AQ2
£180K05/230.6 mi26, Pilton Street, Barnstaple, Devon EX31 1PJ2
£189K04/230.6 mi17, Cyprus Terrace, Barnstaple, Devon EX32 9JF2
£345K08/230.61 mi3, Raleigh Heights, Barnstaple, Devon EX31 1ND2
£214K12/220.61 mi14, Newport Road, Barnstaple, Devon EX32 9BG2
£180K11/200.61 mi71a, Newport Road, Barnstaple, Devon EX32 9BG2

Local Rents

24 rents from £675/mo to £1.1K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£92504/240.01 miQueen Street, Barnstaple2
£92505/240.01 miQueen Street, Barnstaple2
£92504/240.02 miQueen Street, Barnstaple2
£92503/240.08 miRegent House, Queens Street2
£79502/250.11 mi-2
£95011/230.14 mi-2
£85009/230.14 mi-2
£80001/240.14 mi-2
£72504/240.16 miBarnstaple2
£1,10011/230.16 mi-2
£1,10009/240.16 mi-2
£69504/240.18 miLoverings Court, Barnstaple, EX312
£1,10011/230.2 mi-2
£67504/240.24 miDoone House, Barnstaple, Devon2
£97510/230.25 mi-2
£80003/240.27 miAshleigh Road, Barnstaple, EX322
£69503/240.28 miBoutport Street, Barnstaple, Devon, EX312
£85004/240.48 miPilton Quayside, Barnstaple2
£82512/230.59 mi-2
£85012/240.59 mi-2
£80004/240.6 mi-2
£87503/240.6 miWalton Way, Barnstaple2
£72504/240.62 miLong Meadow Drive, Barnstaple, Devon, EX322
£72504/240.62 miLong Meadow Drive, Barnstaple, Devon, EX322

Local Area Statistics

Population in EX32

23,896

Population in Barnstaple

48,982

Town centre distance

0.19 miles away

Nearest school

0.20 miles away

Nearest train station

0.46 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+33%

Sales demand

Buyer's market

Capital growth (5yrs)

+13%

Property History

Listed for £125,000

February 17, 2025

Floor Plans

Description

  • DOUBLE FRONTED TERRACED COTTAGE +
  • CENTRAL TOWN LOCATION +
  • SPACIOUS LIVING/DINING ROOM +
  • KITCHEN +
  • TWO BEDROOMS +
  • FIRST FLOOR BATHROOM +
  • UPVC DOUBLE GLAZING AND ELECTRIC HEATING +
  • IN NEED OF SOME MODERNISATION AND REFURBISHMENT +
  • IDEAL FIRST TIME BUY OR BUY TO LET OPPORTUNITY +
  • NO ONWARD CHAIN +

A double fronted terraced house, situated within a central town location, close to shops and amenities. Benefitting from a lounge/diner, kitchen, first floor bathroom and two bedrooms. No onward chain.

Chequers Estate Agents are pleased to offer this double fronted terraced cottage, situated within the centre of Barnstaple, close to all shops, amenities and transport links. It has served as an excellent investment property with proven rental income, but would also make an ideal first time buy or lock up and leave bolt hole. It benefits from UPVC double glazing, electric heating and the benefit of being sold with no onward chain.

Although the property does require some modernisation and refurbishment, it offers lots of potential for the new owner to make their mark and improve the cottage further. The accommodation in brief comprises of a generous lounge/dining room, kitchen, first floor bathroom and two bedrooms. Please note, there is no outside space or parking with the property, but there are car parks nearby.

Living / Dining Room - 6.52 x 3.88 (21'4" x 12'8" ) - Two UPVC double glazed windows to front aspect, stairs to first floor, ornamental brick and stone fireplace feature, beamed ceiling, meter cupboard, opening to kitchen.

Kitchen - 5.30 x 1.81 (17'4" x 5'11" ) - Range of fitted cupboards and drawers, sink with draining board, storage heater, space for cooker, space for fridge freezer, space and plumbing for washing machine, skylight providing access to roof, part tiled walls, exposed beamed ceiling.

Rear Hallway - Large storage cupboard for bin and recycling boxes, cloak space.

First Floor Landing - Smoke alarm, beamed ceiling, doors off to bedrooms and bathroom.

Bedroom One - 4.54 x 3.22 (14'10" x 10'6" ) - UPVC double glazed window to front aspect, storage heater, storage shelf over stairs, exposed beamed ceiling.

Bedroom Two - 4.07 x 2.95 (13'4" x 9'8" ) - UPVC double glazed window to front aspect, storage heater, exposed beamed ceiling.

Bathroom - 3.30 x 2.01 (10'9" x 6'7" ) - Two UPVC double glazed windows to rear aspect, wall mounted electric heater, bath with shower attachment and tiled surround, low level W.C, pedestal hand basin with tiled splashback, airing cupboard housing hot water tank, lino flooring.

Agents Note - There is no outside space or parking with the property.

Note - For clarification we wish to inform prospective purchasers that we have prepared these sales particulars as a general guide. Some photographs may have been taken using a wide angle lens. We have not carried out a detailed survey, nor tested the services, appliances and specific fittings. Room sizes should not be relied upon for carpets and furnishings. If there are important matters which are likely to affect your decision to buy, please contact us before viewing the property.

Agent Details

Chequers, Barnstaple

020 3870 5056

Next Steps?

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