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£650,000
Bedrooms
Bathrooms
This massive house that is currently being used as a HMO with a full licence is an investors dream! This property currently achieves a yearly rent of 54,000 with the potential to rise to 60,600.
This property consists of a bay fronted bedroom with an ensuite, another double bedroom with an ensuite that has access to a part of private garden and an modern open plan kitchen/reception room. On the first floor you have two more double bedrooms both with ensuites. On the second floor you have the biggest bedroom, a three piece family bathroom and a kitchen.
This property benefits from having a full HMO licence, being end of terrace, being sold chain free, large garden. This property is really the perfect investment.
Call now to find out more information!
DIRECTIONS
Rymer Road is a quiet residential road that runs between Stretton Road and Dartnell Road. Walking distance to East Croydon train station, local bus routes and Central Croydon.
TRANSPORT
East Croydon 0.8 miles
Selhurst 0.5 miles
Norwood Junction 0.9 miles
West Croydon 1 mile
Thornton Heath 1.3 miles
SCHOOLS - INFANTS & PRIMARY
John Wood School & Nursery 180 yards
Robert Fitzroy Academy 340 yards
Woodside Primary School 620 yards
Broadmead Primary School 760 yards
The Crescent Primary School half a mile
SCHOOLS - SECONDARY & COLLEGE
Ark Blake Academy 410 yards
St Marys Catholic High School 0.7 miles
Oasis Academy Shirley Park (All Through) 0.8 miles
Harris Invictus Academy Croydon 1 mile
Harris Aspire Academy 1 mile
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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