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£329,500
Bedrooms
Introducing a fantastic investment opportunity, this beautiful three storey Terraced home is up for grabs. This property boasts a very spacious and luxurious living space, comprising of four bedrooms, one bathroom and a gorgeous living room. With a current rental income of 1300pcm and achievable 1474 1560pcm based off of the current market statistics, this property promises and lucrative return on investment.
This property is located in Heaton which is a vibrant neighbourhood for both students, Full-time professional and even families. You have access to a big variety of convenience and grocery stores, takeaways, restaurants and leisures within a short walking distance. The area is well connected with excellent transport links, making it ideal for both professional and students looking to move around or to Newcastle.
Currently the property is tenanted, with a secure tenancy agreement in place until 31st August 2024. This provides a stable and reliable income stream for the discerning investor/buyer. The tenants have looked after the property throughout their tenancy.
There is a fifth bedroom located on the top floor, there would need to be a few jobs completed in order to license it as a five bedroom property. It is definitely worth carrying out these jobs to maximise your rental income.
Whether you are a seasoned investor looking to expand your portfolio or a first time buyer seeking a promising investment opportunity, this property is not to be missed.
Dont miss out on our exceptional investment opportunity! Contact us today and secure your future on the property market.
Hallway
Entrance hall with tiled floor and stairs to first floor.
Reception 1
Large and modern living room. Front of house. Fully furnished to a high standard.
Kitchen
Large and new fully fitted kitchen. All the mod cons Inc. dishwasher. great space.
Bedroom 1
Extremely large and well furnished bedroom at the front of the house (1st floor) . Laminate flooring and modern decor. Includes a beautiful fireplace.
Bedroom 2
Good sized bedroom with double bed and modern decor and furnishings.
Bedroom 3
Large attic room with high ceilings. Double bed and furnished to a high standard.
Bedroom 4
Good sized attic room with double bed. High ceilings and furnished to a high standard.
Bathroom
Large bathroom with luxury corner bath and separate shower cubicle.
Parking
On street parking or space in rear yard for 1 car.
Central Heating
Gas central heating throughout.
The Legal Bit: These details do not constitute any part of any offer or contract. Tyne & Wear Property Services that own and operate Pro-Lets & Stud-Lets Letting Agents, for themselves and for the lessors of this or any property, whose agents they are, do not have any authority to give any warranty or representation whatsoever in respect of this property. In particular no statement in these details is to be relied upon as a representation of fact and the prospective tenant(s) should satisfy themselves by inspection or otherwise as to their accuracy.
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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