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Merton, Okehampton

South West

£550,000
Listed on 29/12/2025

Property Details

Bedrooms
4
Type
Detached house
Area
2828 sqft

Description

This Grade II* listed detached farmhouse, believed to have its origins dating back to around 1500, presents an opportunity for substantial renovation and investment. With four bedrooms and multiple reception areas, the property boasts many historical features, such as stone fireplaces with decorative overmantle mouldings and timber flooring, which could be restored to enhance its charm. The layout includes a utility room, pantry, and a kitchen/breakfast room that offers potential for modern upgrades. Outside, the property features extensive gardens, a paddock area, and outbuildings including a former stables and a double garage—spaces that hold promise for conversion into workshops or additional living areas. Located in the picturesque village of Merton within easy reach of local amenities and beautiful Devon countryside, this home offers an excellent canvas for transformation while retaining its historical integrity. Given its history of being let out, some updating is needed to bring it back to full potential. Viewing is recommended to appreciate the possibilities this property has to offer.

Investment Analysis

(EX20 area)

Below Market Value

This property is priced -32.9% below area average per sq ft

-32.9%
Potential saving
This Property
£194/sq ft
Area Average
£290/sq ft
Avg Rent (weekly)
£202
Avg Yield
3.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £100,000
Target Value
£902,288
10% above area average per sq ft
Potential ROI
+38.8%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
27
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (EX20)

Area prices are stable by +0.2% over the last 12 months
3 year growth: 1.5%
5 year growth: 14.1%
Investment Disclaimer: Analysis based on EX20 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Merton, Okehampton
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,015
Based on a loan of £412,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE