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Wagg Lane, Probus - Image 1
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Wagg Lane, Probus

South West

£500,000
Listed on 14/09/2025

Property Details

Bedrooms
2
Type
Detached house
Area
1001 sqft

Description

This detached bungalow presents a unique opportunity for renovation and investment in a tranquil village setting, known for its picturesque countryside views. Located within walking distance of the village center, this property has been in the same ownership since it was built in the late 1960s, indicating its longstanding appeal and potential as a valuable home. The bungalow features two generous bedrooms with ample natural light, along with a versatile layout that includes a kitchen/dining room equipped with an Aga, a sitting room that opens onto a full-length balcony, and an additional dining room that could serve as a third bedroom. While the property is well-maintained, it requires modern updates, allowing new owners to customize their living space according to contemporary standards and preferences. The grounds are substantial and offer considerable room for outdoor improvements or landscaping projects. The enclosed gardens feature gently sloping lawns surrounded by established shrubbery, providing privacy and tranquility. Additionally, there is driveway parking suitable for multiple vehicles and a garage with electric access—both of which enhance the property's functionality. Probus itself is one of mid Cornwall's best-served villages, boasting an array of essential amenities including shops, restaurants, schools, and healthcare facilities. Excellent transport links facilitate easy commuting to nearby Truro and St. Austell. Furthermore, the stunning Roseland Peninsula beaches are just a short drive away, making this location appealing not only for residents but also for holiday rental potential or long-term investment. This bungalow's advantageous position combined with its renovation potential makes it an attractive prospect for those looking to invest in property in this sought-after area. With thoughtful updates and enhancements, it could become a highly desirable family home or rental opportunity in one of Cornwall’s charming villages.

Investment Analysis

(TR2 area)

Above Market Value

This property is priced +25.6% above area average per sq ft

+25.6%
This Property
£500/sq ft
Area Average
£398/sq ft

Renovation Potential

Est. Renovation Cost
£50,000 - £125,000
10-25% of property value
Target Value
£437,742
10% above area average per sq ft
Potential ROI
-30.0%
After renovation
Monthly Sales
8
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (TR2)

Area prices are falling by +11.6% over the last 12 months
3 year growth: 0.2%
5 year growth: 21.5%
Investment Disclaimer: Analysis based on TR2 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

Wagg Lane, Probus
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