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£275,000 OIRO
Bedrooms
Bathrooms
Reception
'' FULLY REFURBISHED '' TENANTED '' HMO INVESTMENT '' OVER FIVE YEARS CONSISTENT RENTAL HISTORY '' ANNUAL RENT OF 37,500 ''
Cloud Estates are thrilled to welcome to the sales market this tenanted six bedroom end terraced house, which is currently operating as an established HMO on Market Lane, Dunston, Gateshead. The property has been refurbished to a high standard throughout with the intention of offering an exceptional and unparalleled standard of living to professional tenants in the Newcastle and Gateshead area.
The six double rooms all with ensuites achieve a combined monthly rental income of 3125 pcm. All rooms are let individually to professional tenants with bills included.
It comprises of entrance hallway, two bedrooms, very spacious kitchen. Stairs to the first floor provides access to four further bedrooms. Externally the property has a private rear yard.
The property is situated in a convenient location within walking distance of numerous transport links, and is located within a short commute of Newcastle and Gateshead, Team Valley Trading Estate, Metrocentre and A1.
This is an excellent investment opportunity for the new owner.
Please contact Cloud Estates to arrange your viewing.
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.
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