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Merritt Road, Paignton, Devon, TQ3

South West

£60,000
Listed on 23/03/2026

Property Details

Bedrooms
2
Type
Flat
Area
499 sqft

Description

This ground-floor two-bedroom apartment presents an excellent chance for renovation enthusiasts and savvy investors. Located just a short stroll from the town centre, it offers both accessibility and substantial potential for value enhancement. The apartment features a spacious lounge/dining area, a separate kitchen, and two bedrooms, with the second bedroom offering generous proportions. The centrally located bathroom enhances the practical layout of this home. One of the standout features is its private outdoor space, ideal for those looking to create a small garden oasis or additional seating area. Offered as a freehold property, it provides unique ownership advantages that are often lacking in traditional apartments. With modernization needed throughout, this apartment serves as an exceptional blank slate in a desirable locale with promising long-term appreciation. Early viewings are encouraged.

Investment Analysis

(TQ3 area)

Below Market Value

This property is priced -56.5% below area average per sq ft

-56.5%
Potential saving
This Property
£120/sq ft
Area Average
£276/sq ft
Avg Rent (weekly)
£207
Avg Yield
3.7%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£151,743
10% above area average per sq ft
Potential ROI
+51.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
32
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (TQ3)

Area prices are falling by -3.7% over the last 12 months
3 year growth: -5.6%
5 year growth: +13.9%
Investment Disclaimer: Analysis based on TQ3 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

Merritt Road, Paignton, Devon, TQ3
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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
£216
Based on a loan of £45,000 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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