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£280,000
Bedrooms
Bathrooms
A 5 bedroom, 3-story house in a multiple occupation (HMO) property designed to maximize income potential. This property has been with the current owners for many years and it has been a great income for them, showing that the new owners will have instant income from day one.
As you walk up to the property you are welcomed with a self contained annex, previously the garage, which comprises of a double bedroom, small kitchenette and a shower room.
As you step into the entrance hall, you are greeted with a downstairs shower room and an open-plan kitchen diner which has ample storage space with an area for a dining table and seating area. Moving towards the rear of the property, there is a low maintenance private rear garden with a storage shed to keep your garden tools.
Ascending to the first floor there are two bedrooms, one double bedroom facing the garden with wide windows letting in natural light. The bedroom on the other end of the hallway is a single bedroom with an en-suite. The second floor continues the trend with an additional two double bedrooms and a separate 3 piece bathroom for either tenant to use.
To complement the property, it provides off-street parking to the front, ensuring convenience and ease of access for tenants with vehicles.
This 5-Bed, 3-story HMO property presents an exceptional opportunity for investors seeking a lucrative income. With a focus on maximising rental potential, this property promises a strong return on investment. Dont miss out on this outstanding opportunity to capitalise on the thriving rental market.
We are required by law to comply fully with The Money Laundering Regulations 2017 and as such need to complete AML ID verification and proof /source of funds checks on all buyers and, where relevant, cash donors once an offer is accepted on a property. We use GoTo Group to complete the necessary checks, this is not a credit check and therefore will have no effect on your credit history. With effect from 1st March 2025 a non-refundable compliance fee of 40.00 + VAT per buyer / donor will be required to be paid to the GoTo Group direct when an offer is agreed and prior to a sales memorandum being issued.
EPC rating: C. Tenure: Freehold,Map location is not available for this property.
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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