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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 farmhouse, dating back to the 1500s, presents a rare opportunity for renovation and investment in the picturesque village of Merton. The property features four bedrooms and multiple reception areas, including a kitchen/breakfast room that retains some charming period details. While spacious and functional, the house requires updating to restore it to its full potential. The extensive grounds cover approximately 0.87 acres and incorporate a paddock, outbuildings including a former stable block ideal for diverse uses such as workshops or additional storage, and ample parking within a generous driveway. Located close to local amenities and surrounded by beautiful Devon countryside, this property is ideally poised for an investor with vision. Renovation possibilities abound, from modernizing interiors to enhancing outdoor spaces while respecting its historical significance. The absence of an ongoing chain allows for immediate interest.

Investment Analysis

(EX20 area)

Below Market Value

This property is priced -32.3% below area average per sq ft

-32.3%
Potential saving
This Property
£194/sq ft
Area Average
£287/sq ft
Avg Rent (weekly)
£193
Avg Yield
3.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£75,000 - £120,000
Target Value
£893,111
10% above area average per sq ft
Potential ROI
+33.3%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
23
Average per month
Market Turnover
22%
Properties sold annually

Local Market Trend (EX20)

Area prices are falling by -4.4% over the last 12 months
3 year growth: +2.4%
5 year growth: +7.9%
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 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£1,984
Based on a loan of £412,500 over 30 years at 4.06% 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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