Woodlands, Combe Martin: a four bed semi with real margin

The valuation, and every comparable behind it

18 of 100 pulled comparables drove the valuation, with a matched median of £340,250. The price per square foot cross-check implies £301,795 for this floor area.

This valuation is based on 18 recently sold properties near this 4-bedroom Semi-detached house (1,141 sqft). 12 sales were excluded from the pool as they belonged to a different postcode sector with a materially higher price-per-sqft than the subject's local pocket (EX34 0A). This avoids pulling the valuation up against a different micro-market. We found 2 sold semi-detached houses within 50 sqft of this property's size. Sales were filtered to refurbished-condition comparables (upper-quartile price per sqft for the local market). Key examples: Mary Vale, Pitt Hill, Berrynarbor, 1,184 sqft, £410,000; Woodpark House, Sterridge Valley, Berrynarbor, 1,109 sqft, £362,000. Based on these comparables, a refurbished 4-bedroom semi-detached house (1,141 sqft) in this area is valued at £301,795. This is the median of the comparable evidence, the point at which half the comparable sales sit above and half below. Confidence: limited. The purchase price is £180,000, which is £204,580 (53.2%) below this post-refurb valuation. This gap represents the potential uplift from purchasing below market value and refurbishing. The comparable sales confirm the market supports a higher price once the property is brought to a good standard. Sanity flag: GDV is more than 2x the asking price (2.14x). Either the asking is materially below market or the comp pool is skewing high. Worth a manual cross-check. Median price per sqft of 14 comparable sales of the same property type x the 1,141 sqft floor area, high confidence. Comparable evidence spans £292,096 to £313,775 (middle half of comp-implied values). 4 outlier comps excluded before valuing. Premium withheld: refurb not modelled room-by-room (rooms priced at £0), so the valuation is not uplifted for a refurbished finish.

The refurbishment, room by room

Total £17,796 including VAT: rooms £0, energy works £14,635, overheads £840, with a 15% contingency carried.

The rent, with its evidence

Market rent today £975/month (£962 to £1,086), post-refurbishment estimate £976/month, a stated premium of 0.1%, from 3 matched comparable lets. Confidence 19%.

3 comparable rental listings were identified near this property, matched on property type, bedroom count, and proximity, with 1 already let and confirming achievable rents in the current market. The comps indicate a median of £975/month for properties of this type and size. Post-refurb rental estimate: £976/month (£11712/year).