# 2 bedroom semi-detached house for sale (EX20 3EF) ## Property Details | Key | Value | |-----|-------| | Address | 2 CLARKES LANE, OKEHAMPTON, MERTON, DEVON EX20 3EF | | Price | £250,000 | | Bedrooms | 2 | | Bathrooms | 2 | | Construction age | England and Wales: before 1900 | | Floor area | 90 m² | | Last sold | £247,000 Aug 2021 | ## EPC Rating & Upgrade Cost - **Current rating:** E - **Potential rating:** A - **Expiry date:** 28/01/2030 - **Current heating cost:** £791/year - **Est. upgrade cost to C:** £51,000 ### Recommendations - Q (£4,000 - £14,000) - W2 (£4,000 - £6,000) - I (£2,200 - £3,000) - N (£4,000 - £6,000) - O (£3,300 - £6,500) - U (£3,500 - £5,500) - V2 (£15,000 - £25,000) [View full EPC on gov.uk](https://find-energy-certificate.service.gov.uk/energy-certificate/0461-2871-6890-2720-2061) ## Description A beautifully presented and charming cottage situated within the heart of this popular village. This period residence has been subject to a complete refurb and is perfect for someone looking to move into a home needing nothing to be done. The property offers lovely living space with a living room enjoying a feature inglenook fireplace housing a wood burner, separate dining room and a brand-new kitchen to the rear and bathroom. Upstairs there are two double bedrooms and shower room. Outside, the property is approached over a private road leading to an off road parking area for several vehicles and a stone built store/wood store measuring approx. 9ft X 7ft. To the rear of the property there an enclosed well-tended lawn garden with seating area and a pergola offering some additional undercover seating ideal for 'alfresco' dining. Merton itself is known for its large village square flanked by a number of period houses and cottages together with the parish church. The village has a range of facilities which include a post office/general store, garage, primary school, local inn and superb modern village hall with excellent sports and community facilities. The village itself is surrounded by rolling typically Devon countryside, the Torridge valley being famous for its connection with Tarka the Otter and the well known Tarka Trail with its walking and cycling runs close to the village. The area is also well known for its fishing and there is easy access to the Dartmoor National Park at Okehampton and to the North Coasts of Devon and Cornwall with superb beaches and delightful coastal scenery. The A386 gives easy access north to the market towns of Great Torrington and Bideford whilst to the south the market town of Hatherleigh offers an excellent range of shops and services including supermarkets, primary school, veterinary and doctors surgeries and community market. Okehampton offers a wider range of shops and services, three supermarkets including a Waitrose and schooling from infant to sixth level. The town also has a modern leisure centre and hospital. From Okehampton there is direct access to the A30 dual carriage way providing a link west into Cornwall or east into the Cathedral and University City of Exeter with its mainline rail and international air and M5 motorway connections. **Directions** From Okehampton town centre, proceed in a northerly direction taking the A386 to Hatherleigh. By pass the town and proceed on towards Torrington, proceeding through the village of Meeth and onto Merton. Pass the school on the right hand side, and almost immediately upon the left the entrance to Clarks Lane will be seen with the cottage being immediately on the right hand side. ## Property Photos - ![Picture No. 15](/listings/photos/80187552/637545) - Picture No. 15 - ![Picture No. 07](/listings/photos/80187552/637546) - Picture No. 07 - ![Picture No. 08](/listings/photos/80187552/637547) - Picture No. 08 - ![Picture No. 05](/listings/photos/80187552/637548) - Picture No. 05 - ![Picture No. 04](/listings/photos/80187552/637549) - Picture No. 04 - ![Picture No. 06](/listings/photos/80187552/637550) - Picture No. 06 - ![Picture No. 09](/listings/photos/80187552/637551) - Picture No. 09 - ![Picture No. 10](/listings/photos/80187552/637552) - Picture No. 10 - ![Picture No. 03](/listings/photos/80187552/637553) - Picture No. 03 - ![Picture No. 11](/listings/photos/80187552/637554) - Picture No. 11 - ![Picture No. 12](/listings/photos/80187552/637555) - Picture No. 12 - ![Picture No. 13](/listings/photos/80187552/637556) - Picture No. 13 - ![Picture No. 14](/listings/photos/80187552/637557) - Picture No. 14 ## Floorplans - ![Floorplan](/listings/photos/80187552/637558) - Floorplan ## EPC Graphs - ![EPC Rating Graph](/listings/photos/80187552/637559) - EPC Rating Graph ## FENSA Certificates This property has 1 FENSA certificate(s) on record. ### FENSA Certificate #16698916 - **Address:** 2 Clarkes Lane, Merton, EX20 3EF - **Certificate Issued:** 02/03/2025 - **Work Completed:** 13/02/2025 - **Items:** 3 door(s) ## Sales History *Recorded sales for this property. Data from Land Registry Price Paid.* | Address | Price | Date | Type | |---------|-------|------|------| | 2 CLARKES LANE, MERTON, OKEHAMPTON, TORRIDGE, DEVON, EX20 3EF | £247,000 | 13/08/2021 | Terraced | | 2 CLARKES LANE, MERTON, OKEHAMPTON, TORRIDGE, DEVON, EX20 3EF | £165,000 | 06/03/2020 | Terraced | | 2 CLARKES LANE, MERTON, OKEHAMPTON, TORRIDGE, DEVON, EX20 3EF | £159,500 | 08/11/2018 | Terraced | ## Sold Comparables *Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.* | Address | Price | Date | Type | |---------|-------|------|------| | 1 CLARKES LANE, MERTON, OKEHAMPTON, TORRIDGE, DEVON, EX20 3EF | £280,000 | 09/09/2021 | Semi-detached | **Area average:** £280,000 (1 sale) ## Price vs local average *Outcode + property type (HousePrices, last 2 years).* - **Local average:** £262,284 (19 Semi-detached, EX20, 2024–2026) - **Deviation:** -4.7% ## Rental Range *ONS Price Index of Private Rents (Torridge). Low / Realistic / Optimistic = conservative / average / best case.* - **Low:** £708/mo - **Realistic:** £787/mo - **Optimistic:** £866/mo ## LHA (Local Housing Allowance) *VOA 30th percentile rent floor for Exeter (Apr 2025 – Mar 2026).* - **LHA floor (this property size):** £793/mo ## Rental Comparables *Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.* | Title | Rent | Beds | Distance | As seen on | |------|------|------|------|------| | 2 Bed End Terrace, Nipawin, EX20 | £825/mo | 2 | 0.34 miles | OpenRent | **Average rent: £825/mo (1 listing)** ## 1% Rule - **Rent ratio:** 0.33% (weak for cashflow) - **Max investor price (0.8%):** £103,125 - **Target investor price (1%):** £82,500 *Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.* ## Rent-driven metrics *Based on OpenRent comparables (median £825/mo).* - **Gross yield:** 4% - **Cost-to-rent:** 25.3× - **Monthly cashflow:** £-267/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term) - **Cash-on-cash ROI:** -4.4% *Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).* ## Price per Square Metre - **£/m²:** £2,778/m² ## Capital growth trend *Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.* - **5y growth:** 4.5% - **10y growth:** 37.2% ## House Price Index (HM Land Registry) *Official index for Torridge; Semi-detached series; as of March 2026.* - **1y growth (index):** 0.5% - **5y growth (index):** 17.5% - **10y growth (index):** 38.4% ## Flood risk - **Zone:** 1 - **Risk:** Low - **Source:** Job (default Low) [Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)