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Penwethers Lane, Truro

South West

£150,000
Listed on 07/08/2025

Property Details

Bedrooms
3
Type
Detached house
Area
710 sqft

Description

This three-bedroom detached bungalow presents a compelling opportunity for renovation and redevelopment, making it an attractive option for investors or homeowners looking to create their ideal living space. The property, which has been held by the same owner for over sixty years, is situated on a generous plot in a convenient location near Truro, providing access to local amenities and services. The layout includes an entrance hall that leads to a sitting room, three bedrooms, a bathroom, a dining room, and a kitchen. While the interiors are in need of significant refurbishment, this allows for customization to suit personal preferences or modern standards. The home features off-road parking via a driveway and comes with both front and rear gardens that offer potential for landscaping or outdoor living areas—albeit currently in an overgrown state. Located on the eastern side of Truro, this property is within easy reach of the city center and Treliske Hospital, as well as nearby schools. This prime positioning enhances its appeal for future tenants or buyers after renovations are complete. It is worth noting that the property is classified as Class A1 and A2 under Mundic regulations, which permits mortgage applications subject to lender approval given the current condition of the home. The absence of any chain facilitates easier transaction processing. In summary, 4 Penwethers Lane represents a unique chance to acquire a detached bungalow with substantial development potential in an area known for its vibrant community and essential amenities. Viewing is highly recommended to fully appreciate what this property has to offer.

Investment Analysis

(TR1 area)

Below Market Value

This property is priced -35.4% below area average per sq ft

-35.4%
Potential saving
This Property
£211/sq ft
Area Average
£327/sq ft
Avg Rent (weekly)
£289
Avg Yield
4.2%

Renovation Potential

Est. Renovation Cost
£15,000 - £37,500
10-25% of property value
Target Value
£255,231
10% above area average per sq ft
Potential ROI
+36.1%
After renovation
Monthly Sales
23
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (TR1)

Area prices are falling by +2.1% over the last 12 months
3 year growth: 8.5%
5 year growth: 21.1%
Investment Disclaimer: Analysis based on TR1 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

Penwethers Lane, Truro
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