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Richmond Street, Penzance, TR18

South West

£175,000
Listed on 24/12/2025

Property Details

Bedrooms
2
Type
Terraced house

Description

This property presents a unique opportunity for investors and renovators, requiring extensive refurbishment to unlock its potential. The renovations have begun, but the kitchen and bathroom installations are incomplete, making it unsuitable for mortgage financing at this time. Located in a desirable area, the house is set on a quiet no-through road with essential amenities such as shops and a post office within easy reach, alongside proximity to the hospital and town centre for added convenience. A charming rear courtyard offers outdoor space for future enjoyment.<br><br>Entering through the period-tiled vestibule, you’ll find features like a spacious lounge with double-glazed bay window and new floor joists that await finishing touches. The second reception room provides flexible space which can be tailored to your needs. The kitchen setup is ready for transformation into a modern cooking area, while the utility area contains a Belfast sink. On the first floor, two bedrooms offer excellent natural light; however, both require updates along with an expansive bathroom that awaits complete renovation. Lastly, the outdoor yard includes access points and facilities that could further enhance the property's appeal. An early viewing is recommended to explore this project further.

Investment Analysis

(TR18 area)
Area Average
£316/sq ft
Avg Rent (weekly)
£220
Avg Yield
4.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£35,000 - £60,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
15
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (TR18)

Area prices are falling by +4.4% over the last 12 months
3 year growth: -4.6%
5 year growth: 17.4%
Investment Disclaimer: Analysis based on TR18 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

Richmond Street, Penzance, TR18
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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
£641
Based on a loan of £131,250 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.

Next Steps

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