7 bedroom semi-detached for sale

£280,000

7

Bedrooms

Floorplan

'''HMO INVESTMENT''' Seven lettable room semi-detached house situated in this popular location within short walking distance to Nottingham Trent University. Affording a spacious interior arranged over three floors the property briefly comprises of an entrance hallway, open plan living/dining/kitchen, double bedroom and shower room to the first floor, three double bedrooms to the first floor with a shower room and a further three double bedrooms with an additional shower room to the second floor. The property benefits from a rear courtyard garden and on road permit parking is available.

HALLWAY 11 11" x 6 2" (3.63m x 1.88m) Accessed via an external door with fitted carpet, wall mounted radiator, stairs rising to the first floor and ceiling light.

LIVING/DINING AREA 17 4" x 11 (5.28m x 3.35m) With tiled flooring, uPVC double glazed window to the rear elevation, wall mounted radiator and two ceiling lights.

KITCHEN AREA 10 10" x 8 6" (3.3m x 2.59m) 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, integrated electric oven, inset hob with extractor hood over, washing machine plumbing, tiled flooring, uPVC double glazed window to the rear elevation, cellar access and ceiling light.

REAR LOBBY 5 7" x 3 11" (1.7m x 1.19m) With tiled flooring, dryer point, external uPVC door to the rear garden and ceiling light.

SHOWER ROOM With a corner shower enclosure with a mains fed mixer bar shower, low flush w.c., pedestal wash hand basin, tiled flooring, wall mounted radiator and ceiling light.

BEDROOM ONE 11 11" x 11 (3.63m x 3.35m) With a fitted carpet, uPVC double glazed window to the front elevation, wall mounted radiator and ceiling light.

FIRST FLOOR LANDING With a fitted carpet, uPVC double glazed window to the rear elevation, wall mounted radiator, stairs rising to the second floor and ceiling light.

BEDROOM TWO 11 10" x 7 5" (3.61m x 2.26m) With a fitted carpet, uPVC double glazed window to the front elevation, wall mounted radiator and ceiling light.

BEDROOM THREE 11 1" x 8 2" (3.38m x 2.49m) With a fitted carpet, uPVC double glazed window to the rear elevation, wall mounted radiator and ceiling light.

BEDROOM FOUR 11 11" x 8 9" (3.63m x 2.67m) With a fitted carpet, uPVC double glazed window to the side elevation, wall mounted radiator and ceiling light.

SHOWER ROOM Comprising of a shower enclosure with an electric shower, low flush w.c., pedestal wash hand basin, tiled flooring, wall mounted radiator, opaque uPVC double glazed window to the rear elevation and ceiling light.

SECOND FLOOR LANDING With a fitted carpet, uPVC double glazed window to the rear elevation and ceiling light.

BEDROOM FIVE 11 11" x 8 (3.63m x 2.44m) With a fitted carpet, uPVC double glazed window to the front elevation, wall mounted radiator and ceiling light.

BEDROOM SIX 8 2" x 8 (2.49m x 2.44m) With a fitted carpet, uPVC double glazed window to the rear elevation, wall mounted radiator and ceiling light.

BEDROOM SEVEN 11 11" x 9 3" (3.63m x 2.82m) With a fitted carpet, uPVC double glazed window to the side elevation, wall mounted radiator and ceiling light.

SHOWER ROOM Comprising of a shower enclosure with an electric shower, low flush w.c., pedestal wash hand basin, tiled flooring, wall mounted radiator, opaque uPVC double glazed window to the rear elevation and ceiling light.

CELLAR Two cellar rooms with power and lighting.

AUCTIONEER COMMENTS This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation
Period. Interested parties personal data will be shared with the Auctioneer (iamsold Ltd).

If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information
Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent
information on the Buyer Information Pack fee, please contact the iamsold team.

The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase
price inc VAT, subject to a minimum of 6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the
Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.

Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the
service is taken. Payment varies but will be no more than 960 inc. VAT. These services are optional.

REFERRAL ARRANGEMENTS The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will benefit you; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted, please be aware that the Auction Coordinator or Partner Agent may receive payment for the recommendation. Where this is the case, the Partner Agent and Auctioneer will inform you of any referral arrangements and any payment they will receive, prior to any services being taken by you.

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

£ 233700

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

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
    £ 7000
  • 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

£ 23700
  • 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

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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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