Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£280,000
Bedrooms
Bathrooms
Brown & Cockerill Estate Agents are delighted to offer for sale this four bedroom end of terraced multi let investment opportunity situated on a corner position within apopular residential location on the outskirts of Rugby town centre. The property is of standard brick built construction with a tiled roof and all mains services are connected.
There are a range of local amenities to include a parade of local shops and stores, hot-food takeaways, public houses, schooling for all ages and a recreational park. A more comprehensive range of facilities are available in nearby Rugby town centre and the popular Junction One and Elliotts Field retail parks are only a short drive away. The property is ideally located and within walking distance of Rugby railway station which operates a mainline intercity service to Birmingham New Street and London Euston within an hour. There is easy commuter access to the M1, M6, A5 and A14 Midland road and motorway networks.
In brief, the accommodation comprises of a communal entrance hall and communal kitchen/dining room with flat numbers one and two each comprising of a double bedroom and an en-suite shower room.
To the first floor, flat number three comprises of a double bedroom and en-suite shower room and flat number four comprises of a double bedroom with kitchenette and en-suite shower room.
The property benefits from gas fired central heating to radiators and double glazing.
Externally, there is a communal low maintenance courtyard area to the rear.
Early viewing is highly recommended and the property is being offered for sale with no onward chain.
Gross Internal Area: approx. 99 m (1065 ft).
Current Rental Income:
Flat 1 - currently let at 675 pcm
Flat 2 - currently let at 675 pcm
Flat 3 - currently let at 675 pcm
Flat 4 - currently let at 725 pcm
All Utility Bills are included.
Potential Gross Monthly Income: 2750
Potential Gross Annual Income - 33,000
Potential Net Monthly RentalIncome 2199.38
Traditional Solid Brick Construction
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
The Property has been saved to your favorites
/ 5
It's quick and easy
