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Redinnick Place, Penzance TR18

South West

£130,000
Listed on 02/07/2025

Property Details

Bedrooms
2
Type
Terraced house
Area
829 sqft

Description

This mid-terrace property features two generously sized double bedrooms and is situated in a sought-after residential area on the outskirts of Penzance. The home is just a short walk from the scenic Penzance promenade, offering easy access to coastal views and local amenities. While the interior does require modernisation, it presents an excellent opportunity for renovation tailored to contemporary tastes. Currently, the property benefits from uPVC double glazing and a combination of gas fireplaces along with night storage heaters, providing a foundation for future upgrades. The layout includes a dining room that flows into a cozy sitting room with French doors leading to a sizeable rear courtyard—ideal for outdoor relaxation or entertaining. The kitchen offers functional space with plenty of potential for refurbishment, while upstairs you'll find two well-proportioned bedrooms featuring built-in storage. The bathroom, although dated, has ample room to incorporate modern conveniences and style. Externally, the front garden adds curb appeal, while the rear courtyard provides practical outdoor space that could be enhanced further. This property not only represents an inviting family home but also serves as an investment opportunity due to its location and potential rental appeal. Located near the vibrant heart of Penzance, this area boasts various leisure facilities, educational institutions, cafes, restaurants, and galleries. Its proximity to both bus and mainline train stations ensures efficient transport links to London Paddington and beyond. Whether you are looking for a project to make your own or considering it as an investment venture for rental income, this property holds promise in a desirable coastal community. An early viewing is recommended to fully appreciate its potential and tranquil location.

Investment Analysis

(TR18 area)

Below Market Value

This property is priced -50.8% below area average per sq ft

-50.8%
Potential saving
This Property
£157/sq ft
Area Average
£319/sq ft
Avg Rent (weekly)
£237
Avg Yield
4.1%

Renovation Potential

Est. Renovation Cost
£13,000 - £32,500
10-25% of property value
Target Value
£290,668
10% above area average per sq ft
Potential ROI
+78.9%
After renovation
Monthly Sales
12
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (TR18)

Area prices are rising by +6.2% over the last 12 months
3 year growth: 3.5%
5 year growth: 26.5%
Investment Disclaimer: Analysis based on TR18 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

Redinnick Place, Penzance TR18
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