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Alphington Street, Exeter EX2

South West

£350,000

Listed on 07/07/2026

Property details

Bedrooms
8
Type
Terraced
Area
2050 sqft

Description

This property presents a unique opportunity for investors looking to develop a fully gutted HMO, ready to be tailored to your specific vision. Located on Alphington Street, the spacious layout enables the potential for up to eight individual letting rooms or a configuration of five larger self-contained units. The ground floor features a garden flat, enhancing rental appeal and increasing profitability. Its prime central location ensures easy access to a variety of local amenities and is conveniently situated near Marsh Barton, making it attractive to renters commuting in that direction. Additionally, major road connections such as the M5, A30, and A38 are easily reachable. This property is not only about its current state but also about the substantial rental returns it can yield post-renovation.

Investment analysis

(EX2 area)

Below Market Value

This property is priced -50.6% below area average per sq ft

-50.6%
Potential saving
This Property
£171/sq ft
Area Average
£346/sq ft
Avg Rent (weekly)
£318
Avg Yield
4.9%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£80,000 - £120,000
Target Value
£779,215
10% above area average per sq ft
Potential ROI
+65.8%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
43
Average per month
Market Turnover
10%
Properties sold annually

Local Market Trend (EX2)

Area prices are stable by +0.4% over the last 12 months
3 year growth: -7.5%
5 year growth: +7.0%
Investment Disclaimer: Analysis based on EX2 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

Alphington Street, Exeter EX2
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Mortgage calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,322
Based on a loan of £262,500 over 30 years at 4.45% 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

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