5 bedroom link detached house for sale

£450,000 Guide Price

5

Bedrooms

''5 BEDROOM HMO INVESTMENT PROPERTY OR FAMILY HOME'' Located on a very popular street, in the heart of Falmouth, is this modern, double-fronted, link-detached property with adjoining garage, in very good condition, which has previously been let as a licensed 5 bedroom HMO. The property is currently VACANT and therefore may be sold either as an investment property which will produce a healthy yield or as a family home.

Located on a very popular street, in the heart of Falmouth, is this modern, double-fronted, link-detached property with adjoining garage, in very good condition, which has previously been let as a licensed 5 bedroom HMO. The property is currently VACANT and therefore may be sold either as an investment property which will produce a healthy yield or as a family home.

The property was built in 2016 and therefore has an excellent B EPC rating and is still in very good condition.

The property is ideally situated for the Woodlane Campus of Falmouth University and since it was built the property has been let to students with an HMO Licence for 5 bedrooms
producing an excellent return. The property should let for 625 per room, equating to 3125 pcm, in the current market.

Alternatively, as a family home, the two bedrooms on the ground floor could be combined (subject to building regulations etc) to create a comfortable lounge, making a three bedroom house.

BRIEF DESCRIPTION

This very smart, double-fronted property with adjoining garage is entered via the front door on Clifton Place. You first of all come into the entrance hall, with stairs in front of you to the first floor, doors to two double bedrooms on your left, and a door on your right leading into the kitchen / dining / lounge area. At one end of this room there is a fully fitted kitchen with gloss units. This has an integrated electric hob and oven with an extractor hood, plus an integrated dishwasher and fridge-freezer. There is vinyl flooring in the kitchen area and wood laminate in the lounge. There is a downstairs WC and a door leads from the lounge into the spacious garage which has ample room for parking a car and also has a utility area with a sink and worktop, plus space for a washing machine, dryer, and an additional fridge-freezer. On the first floor there are three double bedrooms and a large, modern bathroom, which has a bath and a separate shower cubicle with a mains shower. The first-floor landing also has a door to the enclosed roof terrace, which is a lovely spot to enjoy the sunshine.

KEY FEATURES
Buit in 2016
Freehold
Council Tax Band D
EPC B
Gas Central Heating
Large Garage With Utility Area
Roof Terrace
UPVC Double Glazing
Potential To Produce 3125 pcm as a 5 Bedroom HMO
No Onward Chain

LOCATION
Clifton Place is a quiet street, located just off Killigrew Street, in the heart of Falmouth. It is a short walk to the amenities of The Moor and around a 20 minute walk to Gyllyngvase Beach. It is within easy access of all the amenities of Falmouth and the adjacent town of Penryn.

Falmouth is exceptionally located on the south coast of Cornwall and has an abundance of local amenities as well as being well connected by roads and train services to the rest of Cornwall and beyond. Swathed in maritime history, Falmouth is now a vibrant hub for sporting and cultural pursuits. The south Cornish coast offers fabulous sea swimming, paddle boarding and hiking trails just a stones throw away. There are numerous yacht and sailing clubs nearby with some of the finest day sailing waters in the UK and Falmouth Golf Club is located at Swanpool. Being home to the world famous Falmouth School of Art, Falmouth is a hub for the Arts in Cornwall, with the Princess Pavilion and The Poly offering a rich programme of events throughout the year.






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

£ 373950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

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
    £ 11250
  • 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

£ 36450
  • 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

Adjust these figures

  %
  %
£
  %

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

The Property has been saved to your favorites

Love the most
Second best
Meets our criteria
May be
Last resort

 / 5

Enquiry

Book an Appointment

Enter Details

Select Date and Time

GNB Property

10 Minute Meeting

  

Check all Details

Submit

Booking Confirmed

All confirmed! We look forward to speaking with you.

10 Minute Meeting

A calendar invitation has been sent to your email address.
Message