5 bedroom detached for sale

£350,000 Offers over

5

Bedrooms

'''HMO INVESTMENT''' Five lettable rooms generating an income of 28,800 for the 2024-25 academic year. The property is situated in this sought after location close to the QMC, University of Nottingham and Jubilee Campus. Deceptively spacious throughout the property also has a large lounge/diner, fitted kitchen, two modern bathrooms, front and rear gardens, ample off road parking and a double garage.

HALLWAY Accessed via a porch with external uPVC double glazed doors and windows, the hallway has a fitted carpet, window to the side, storage cupboard, wall mounted radiator, stairs rising to the first floor and ceiling light.

LOUNGE/DINER 21 6" x 11 1" (6.55m x 3.38m) With a fitted carpet, two wall mounted radiator, uPVC double glazed sliding patio doors and two ceiling lights.

KITCHEN 14 1" x 7 8" (4.29m x 2.34m) With a range of high and low level units with a rolled edge worktop over incorporating a one and quarter bowl stainless steel sink and drainer, splash back tiling, five burner range cooker, washing machine, dishwasher, ceramic tiled flooring, uPVC double glazed window to the rear elevation and external door to the side, under stairs storage cupboard and ceiling light.

BEDROOM ONE 14 3" into bay x 11 1" (4.34m x 3.38m) With a fitted carpet, uPVC double glazed bay window to the front elevation, wall mounted radiator and ceiling light.

FIRST FLOOR LANDING With a fitted carpet, opaque uPVC double glazed window to the side, stairs rising to the second floor and ceiling light.

BEDROOM TWO 13 x 11 1" (3.96m x 3.38m) With a fitted carpet, uPVC double glazed window to the front elevation, wall mounted radiator and ceiling light.

BEDROOM THREE 12 10" x 11 1" (3.91m x 3.38m) With a fitted carpet, uPVC double glazed window to the rear elevation, wall mounted radiator and ceiling light.

BATHROOM With a fitted four piece suite comprising of a panelled bath with chrome mixer tap, walk in double length shower tray, vanity wash hand basin, low flush w.c. ceramic floor and part wall tiling, chrome heated towel rail, opaque uPVC double glazed windows to the side and rear and fitted ceiling spotlights.

BEDROOM FIVE (STUDY ROOM) 8 5" x 7 8" (2.57m x 2.34m) Allocated as an additional room for studying or storage to the occupant of the fifth bedroom, the room has a fitted carpet, uPVC double glazed window to the front elevation, wall mounted radiator and ceiling light.

SECOND FLOOR LANDING With fitted carpet and ceiling light.

BEDROOM FOUR 18 4" max x 8 9" (5.59m x 2.67m) With a fitted carpet, two Velux windows, wall mounted radiator and ceiling light.

BEDROOM FIVE 9 8" x 9 4" (2.95m x 2.84m) With a fitted carpet, wall mounted radiator, uPVC double glazed window to the rear elevation and ceiling light.

SHOWER ROOM With a fitted suite comprising of a corner shower enclosure with an electric shower, vanity wash hand basin, low flush w.c., ceramic floor and part wall tiling, chrome heated towel rail, opaque uPVC double glazed window to the rear and fitted ceiling spotlights.

EXTERNAL The property has an enclosed, low maintenance rear which is mainly paved with a detached double garage with up and over doors. To the front is a lawned garden with a range of mature shrubs and trees and a driveway providing off road parking for several vehicles.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 291450

Mortgage Loan to Value

%

Gross Yield

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Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 8750
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 28950
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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