5 Bed Terraced House, Refurb/BRRR, Torrington, EX38 8EZ, £275,000

27 Castle Street, Torrington, Devon, EX38 8EZ - 1 views - 2 months ago

Refurb/BRRR
162 m²
+23 photos

ValuationFair Value

Sold Prices£170.7K - £410K
Sold Prices/m²£1K/m² - £3.5K/m²

 

 

Square Metres

162 m²
Price/m²£1.7K/m²

Value Estimate

£275,000

 

 

End Value (After Refurb)

£372,255

Uplift in Value

+35%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£68,750

Stamp Duty & Legal Fees

£16,200

Refurb Costs

£66,194

Bridging Loan Interest

£7,219

Total Cash In

£160,112

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£372,255

Mortgage (After Refinance)

£279,191

Mortgage LTV

75%

Cash Released

£72,941

Cash Left In

£87,171

Equity

£93,064

Rent Range

£65 - £1,300

Rent Estimate

£809

Running Costs/mo

£1,345

Cashflow/mo

£-536

Cashflow/yr

£-6,433

Gross Yield

4%

Local Sold Prices

6 sold prices from £170.7K to £410K, average is £315K. £1K/m² to £3.5K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£355K06/210.02 mi23, Castle Street, Torrington, Devon EX38 8EZ5
£390K10/200.28 mi83, New Street, Torrington, Devon EX38 8BT5
£275K09/210.44 mi28, Burwood Road, Torrington, Devon EX38 7NE5
£170.7K04/210.51 mi202, New Street, Torrington, Devon EX38 8BY5
£253K07/230.53 mi47, Burwood Road, Torrington, Devon EX38 7NG5
£410K07/230.65 mi17, Kingsmead Drive, Torrington, Devon EX38 7DB5

Local Rents

15 rents from £65/mo to £1.3K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£71005/240.07 miWell Street, Great Torrington, Devon2
£70004/240.1 mi-3
£70003/240.1 miBank House, Great Torrington, Devon2
£90004/240.12 miCastle Hill Gardens, Great Torrington, EX383
£48504/240.12 miChurch Walk, Great Torrington, Devon1
£65004/240.14 miNew Road, Great Torrington, Devon2
£87504/240.28 miMorton Drive, Torrington3
£77505/240.38 miVictory Way, Devon2
£1,30004/240.41 miTrafalgar Drive, Torrington5
£1,30004/240.41 miTrafalgar Drive, Torrington5
£75004/240.41 miOakwell Close, Great Torrington, Devon2
£1,20010/240.43 mi-5
£6504/240.46 miSandford Gardens, Torrington1
£90004/241.91 miWest Ford Farm Cottage, Little Torrington, Devon3
£82503/242.24 miSunnyside, Torrington, Devon3

Local Area Statistics

Population in EX38

8,260

Town centre distance

0.17 miles away

Nearest school

0.20 miles away

Nearest train station

6.77 miles away

 

 

Rental growth (12m)

-8%

Sales demand

Balanced market

Capital growth (5yrs)

+34%

Property History

Listed for £275,000

March 12, 2025

Floor Plans

Description

  • No onward Chain +
  • Five Double Bedrooms +
  • Two Reception Rooms +
  • Period Property +
  • Good Sized Garden +
  • Detached Garage for Parking +
  • Views Over the Town and Countryside +
  • Level Walk to Town +
  • Listed within the Conservation Area +
  • Renovation Needed +

A RARE FIND. Charming and sophisticated, this period terraced house in the heart of Great Torrington boasts 5 bedrooms and a wealth of characterful features. Step inside and discover the potential this property has to be restored to its former glory. Don’t be mistaken, this property requires a substantial amount of work, but you can just imagine how beautiful this home will be once it’s been loved again.

From the original tiles in the entrance hall, to the high ceilings thought out and into the outbuilding of the garden, if period homes are for you, you won’t be disappointed. The property features over three floors with each room feeling light and airy with plenty of space for the whole family. Entering into the property and through the porch, you walk into a grand entrance hall featuring the original floor tiles and carved stairway. The living room features a large bay window looking out to the street while the dining room provides a door - which is surrounded by floor to ceilings windows – which grants an access to the rear garden. The kitchen sits to the rear of the home with a separate pantry and utility. You can already imagine something special being done to this room. The utility also gives another access outside to the garden.

The first floor features the first three bedrooms, all of which are double and the family bathroom. The first bedroom at the rear of the property features distant views out over the town. The bedroom to the front of the property takes advantage of the large bay window providing floods of natural light and an old feature fireplace. The final bedroom on this floor features built in storage and again an old feature fireplace. The second floor features the final two bedrooms, again both of which are double. Both bedrooms take advantage of a dormer, with the bedroom to the fronts being the bigger of the two. The bedroom to the rear really takes advantage of the views and feels like a place you could just sit and enjoy all day.

Heading outside via the utility, here features an initial patio made up of Marland brick. This is where the outbuildings are which provide an important addition storage space. Heading down the Marland brick path, the garden will be found. This does need some clearing however the plot size is perfect for any family or keen gardener. Once maintained, the creates a wonderful space for the children to run around, a perfect spot to indulge in some alfresco dining while hosting family and friends or just a spot to enjoy the best of the Devon sun.

The property does make use of a right of way through next doors garden and into the back of the garage. The access will be found through the door in the garden.

The home is located in a stunning part of town and is just a short walk away from all the amenities Great Torrington has to offer. A bustling and pretty little town, Torrington offers everything from a local butchers, green grocers, bakery, supermarket, take away’s, the Pannier Market and the some 365 acres of countryside allowing for miles of scenic walks with access to the locally renowned Tarka trail, a 180 mile footpath / cycle way - mainly built on the bed of the disused Tarka line where the gradients are gentle. It winds its way following the course of the river Torridge as far North as Ilfracombe or going inland South towards Meeth.

Situated in a sought-after location, this property offers a fantastic opportunity to own a stunning family home in a desirable area. Don't miss out on the chance to make this your own – arrange a viewing today!

The property construction is most likely stone and brick with a tiled roof. Your surveyor or conveyancer may be able to clarify further following their investigations.

Heating: The property doesn’t feature any central heating. The home does benefit from a log burner in the living room.

Mains water - Mains electric - Mains drainage – Landline telephone.

Broadband coverage: Superfast available, up to 80mbps download speed (information taken from Ofcom checker).

Mobile phone coverage: Available onsite, indoor limited and outdoor likely (see Ofcom checker for further information.

Directions
From our offices in Torrington, leaving on foot proceed round from Fore Street into South Street, Take the first turning of the left into Castle Street. Continue along the street where the property can be found on your left hand side with a For Sale board.

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 💪