2-bedroom flat · EX36 4BN
For saleReduced £6.8k (−5.9%) on 21 JunListed 208 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Over 60s can secure this property with a Home For Life from Homewise Through the Home for Life Plan from Homewise, those aged 60 or over can purchase a Lifetime Lease and a share of the property value to safeguard for the future.
The cost to purchase the Lifetime Lease is always less than the full market value. Over-60s customers typically save between from 20% To 50%*.
Home for Life Plan guide price for Over-60s The Lifetime Lease price for this property is £114,000 based on an average saving of 33%.
Market Value Price: £170,000 The price you pay will vary according to your age, personal circumstances and requirements and will be adjusted to include any percentage of the property you wish to safeguard.
The plan allows customers to purchase a share of the property value (up to 50%) to safeguard for the future.
For an indication of what you could save, please use our calculator on the Homewise website.
Please call for more information or a personalised quote Please note: Homewise do not own this property and it is not exclusively for sale for the over-60s.
It is being marketed by Homewise as an example of a property that is currently for sale which could be purchased using a Home For Life Lifetime Lease.
If you are not over 60 or would like to purchase the property at the full market value of £170,000, please contact the estate agent Webbers.
Property description Located within walking distance of South Molton Square and local amenities is this well-presented two bedroom maisonette offering spacious living accommodation.
An entrance hall welcomes you into the property with stairs rising to the first floor and doors leading to the principal rooms.
The spacious living room provides ample space for entertaining and features a useful under-stairs storage cupboard along with patio doors opening onto a balcony area enjoying pleasant views over the surrounding greenery.
The kitchen has recently been newly installed and is fitted with a range of modern units, a single drainer stainless steel sink and space for a washing machine and fridge/freezer.
Integrated appliances include a four-ring hob with extractor fan over and an oven below.
On the first floor are two bedrooms together with a three-piece bathroom suite comprising a close coupled WC, wash hand basin and a bath.
The property has recently been redecorated throughout, creating a fresh and well-presented home ready for occupation.
To the front of the property there is an allocated parking space that comes under the management of Oakwood Court and we are advised by the vendors that all properties in Oakwood Court are allocated a parking space, please note this space is not on the deeds.
There are also communal gardens situated between the two blocks of apartments. N.B. The property is leasehold with the remainder of a 999 year lease which commenced in January 1995.
Service charges are currently ?tbc per month (?tbc per annum), which covers tbc.
The information provided about this property does not constitute or form part of an offer or contract, nor may be it be regarded as representations.
All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures & fittings and, where the property has been extended/converted, planning/building regulation consents.
All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed.
Reference to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose. Suitable as a retirement home.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisors before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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About 5 Oakwood Court, Brook Meadow South Molton Devon, South Molton
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