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£185,000 Offers over
Bedrooms
Bathrooms
This mid-terrace house for sale at St. Michaels Avenue, Leicester, presents the discerning buyer with an ideal investment opportunity and is on the market with a starting price of offers over 185,000. The traditional two-storey residence boasts two good-sized bedrooms, a single bathroom and two generously appointed reception rooms. Please note that due to the propertys current need for refurbishment, cash offers are being exclusively considered at this stage.
Situated in a highly popular residential area of Leicester, this home serves up a plethora of potential as a long-term investment, making an ideal purchase for investors and home renovators alike. Whilst the property would benefit from refurbishment, it does already feature the benefits of gas central heating and full double glazing throughout. Upon completion of profiles, this neat property could serve as a wonderful starter home, or provide a high rental yield for the buy-to-let investor.
Offered without the complications of an upward chain, the house has a Council Tax band A rating and an energy performance certificate (EPC) rating of 49E. All this makes for an attractive and affordable proposition for those wishing to undertake a refurbishment project.
The freehold property is ideally located within the St. Michaels Avenue area, known for its proximity to excellent local amenities and well-regarded schools. It also enjoys excellent transport links, making it highly convenient for residents and potential tenants.
Whilst in need of some TLC, an internal viewing is highly recommended to appreciate the scope of potential this property truly possesses. Be it for investment purposes or simply to turn into a lovely family home, this property filled with possibility eagerly awaits its new owner.
In conclusion, this two-bedroom mid-terrace house represents a remarkable investment opportunity. Its inviting initial list price, coupled with the latent potential for substantial property value growth post-refurbishment, provides a dynamic and profitable opportunity for the astute investor or ambitious homeowner. Dont miss out on the opportunity to add this gem to your portfolio.
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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