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Okehampton, Devon

South West

£165,000
Listed on 31/05/2025

Property Details

Bedrooms
3
Type
Terraced house
Area
753 sqft

Description

This mid-terraced cottage presents a unique opportunity for renovation and investment in a sought-after residential area. With three bedrooms and ample living space spread across two levels, the property is conveniently located within walking distance to the town center, making it an ideal choice for those seeking to capitalize on its full potential. The layout includes an entrance hall leading to a spacious sitting room featuring a mains gas fire and a dining room that provides additional gathering space. The kitchen offers practicality with floor and wall units, an appliance space, and rear access to the outdoor area. A bathroom completes the ground floor. Upstairs, you will find three distinct bedrooms that can easily be reimagined to suit modern living requirements. Externally, the property boasts front and rear access along with a single garage that offers valuable parking options. Additionally, there is a paved seating area at the back, perfect for outdoor relaxation or entertaining. Okehampton's favorable location on the northern edge of Dartmoor National Park enhances its appeal—with easy access to stunning walks along the river and in nearby woodlands. The town features a variety of amenities including supermarkets, local shops, and schools catering to both primary and secondary education needs. Recreational facilities are abundant, including parks with heated swimming pools and sports clubs offering various activities. Importantly, recent improvements such as the reopening of the rail link to Exeter have been well-received, providing reliable transport options for commuters or visitors. While this cottage requires refurbishment throughout, it holds significant potential for transformation into a modern family home or rental investment. Prospective buyers are encouraged to evaluate fixtures and fittings independently as they plan their vision for this property.

Investment Analysis

(EX20 area)

Below Market Value

This property is priced -23.4% below area average per sq ft

-23.4%
Potential saving
This Property
£219/sq ft
Area Average
£286/sq ft
Avg Rent (weekly)
£193
Avg Yield
3.0%

Renovation Potential

Est. Renovation Cost
£16,500 - £41,250
10-25% of property value
Target Value
£237,059
10% above area average per sq ft
Potential ROI
+14.9%
After renovation
Monthly Sales
17
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (EX20)

Area prices are rising by +8.7% over the last 12 months
3 year growth: 6.6%
5 year growth: 27.2%
Investment Disclaimer: Analysis based on EX20 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Okehampton, Devon
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