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Folly Gate, Okehampton, Devon EX20

South West

£249,500
Listed on 27/04/2026

Property Details

Bedrooms
2
Type
Semi Detached
Area
1587 sqft

Description

This charming semi-detached cottage, rich in character, presents a wonderful opportunity for those seeking to invest in a property with considerable renovation potential. Featuring two cozy bedrooms, this home is nestled within enclosed gardens and includes a significant barn attachment, perfect for transformation into additional living space, a workshop, or ample storage—subject to necessary permissions. Located in the desirable village near Okehampton, the property enjoys a tranquil rural atmosphere while being conveniently close to local amenities. With no onward chain, this cottage invites buyers to explore avenues for personalizing and enhancing the home while increasing its long-term value. The existing layout includes versatile spaces such as an inviting living area with an inglenook fireplace and a spacious conservatory that opens onto the garden. This property is ideal for anyone looking to create their own countryside retreat with modern upgrades.

Investment Analysis

(EX20 area)

Below Market Value

This property is priced -45.3% below area average per sq ft

-45.3%
Potential saving
This Property
£157/sq ft
Area Average
£288/sq ft
Avg Rent (weekly)
£204
Avg Yield
3.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£501,889
10% above area average per sq ft
Potential ROI
+73.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
24
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (EX20)

Area prices are falling by -5.8% over the last 12 months
3 year growth: +1.3%
5 year growth: +7.0%
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

Folly Gate, Okehampton, Devon EX20
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£884
Based on a loan of £187,125 over 30 years at 3.91% 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.

Stamp Duty Calculator

Price History

-5.8% since listed
£249,500£15,500(-5.8%)
10/04/2026
Current price
£265,000Initial listing
15/03/2026

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