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£375,000 Offers over
Bedrooms
Bathrooms
Hive Estates presents this spacious upper floor five-bedroom licensed HMO, located in the highly sought-after area of Jesmond. Tenanted until July 2026, generating 31,200 per annum, representing a gross rental yield of 8.3%. The property offers an immediate strong income stream with significant potential for rental uplift to enhance returns.
Designed for modern shared living, the property boasts a well-thought-out layout, including two double bedrooms accessed off the main landing leading onto a large open-plan kitchen and living area. The lounge benefits from a south-facing bay window, furnished with sofas and a flat-screen TV, seamlessly connecting to a fully fitted kitchen with a breakfast bar islandperfect for socializing.
To the rear of the property, there are three double bedrooms, each fully furnished with a bed, desk, wardrobe, and individual wall-mounted TV.
A main bathroom with modern tiling and a shower over the bath is complemented by a separate shower room and an additional WC, ensuring convenience for all tenants. Additionally, the property has a loft space which may offer further potential, subject to the necessary consents.
Externally, the property has a private rear yard and store with access to rear lane. This property is an excellent choice for investors seeking a high-performing asset with a 30+ year unbroken letting history, in one of Jesmonds most sought-after locations
Entrance - 6.30 x 1.00 (208' x 33') -
Kitchen/Diner - 5.96 x 4.00 (196' x 131') -
Landing - 3.00 x 2.40 (910' x 710') -
Bedroom 1 - 3.20 x 2.40 (105' x 710') -
Bedroom 2 - 3.40 x 2.40 (111' x 710') -
Bedroom 3 - 2.89 x 2.35 (95' x 78') -
Bedroom 4 - 4.11 x 2.00 (135' x 66') -
Bedroom 5 - 2.90 x 2.50 (96' x 82') -
Hallway - 9.34 x 1.08 (307' x 36') -
Bathroom - 2.76 x 1.69 (90' x 56') -
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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