3 bedroom house for sale

£470,000

3

Bedrooms

2

Bathrooms

Floorplan

DESCRIPTION Offered with NO ONWARD CHAIN. Carlton House is a desirable development of apartments offering warden-assisted retirement accommodation for those aged 60 years and over. The building stands on the corner of Algers Road and the High Road where, within a short walk, there is a great choice of shops, cafes and other amenities including M&S Food, Sainsburys and Gails bakery. No. 27 is a first floor (lift served) apartment offering spacious 3 bedroom/ 2bath/shower-room accommodation with excellent storage and occupying a prime spot on the south-facing side of the building. There are lovely communal gardens and recreational areas including a residents lounge, laundry, gym and there is excellent off-street parking.

FIRST FLOOR

ENTRANCE HALL Two built-in cupboards - one of which contains the hot water tank.

RECEPTION ROOM 16 4' x 12 8' (4.98m x 3.86m)

KITCHEN 10 5' x 7 6' (3.18m x 2.29m) Fitted base and wall units incorporate an electric oven, hob, dishwasher and washing machine.

BEDROOM 1 14 11' x 9 11' (4.55m x 3.02m) The measurement includes the built-in double wardrobe.

BEDROOM 2 14 5' x 8 5' (4.39m x 2.57m)

BEDROOM 3 OR DINING ROOM 12 10' x 8 4' (3.91m x 2.54m)

EN-SUITE BATHROOM & WC 7 4' x 5 11' (2.24m x 1.8m)

SHOWER ROOM & WC 6 4' x 5 11' (1.93m x 1.8m)

STORAGE 6 0' x 4 6' (1.83m x 1.37m)

EXTERIOR To the rear of the building is a well-tended garden with areas of lawn, a large terrace and other sitting areas.

SERVICES Mains water, drainage and electricity services are understood to be connected. No services or installations have been tested.

BROADBAND It is understood that Fibre Optic Broadband is available in this area.

COUNCIL TAX Council Tax is payable to Epping Forest District Council. The property is shown in Council Tax band F.

TENURE & SERVICES CHARGES The property is understood to be Leasehold (125 years commencing in 1994). An annual service charge is payable in respect of the maintenance and utilities of the building and gardens, payment for the House Manager (9am to 5pm), call alarm, water rates and Buildings Insurance.

The current charge for this apartment is understood to be 4,150 per year. Ground rent is understood to be 266 per year. These figures are subject to verification by the sellers solicitors. We understand that, upon each sale, an event fee is to be paid by the owner of the apartment and this is calculated upon assignment according to provisions in the lease.

COMMUNAL AREAS Carlton House has a number of very well-furnished communal areas including the large Living Room which has a fully-stocked kitchen area and is ideal for social events or relaxing with views onto the gardens. There is also a hairdressing salon on-site, laundrette, gym and overnight room for occasional needs-based family stays.

PARKING Carlton House has good car park areas for residents parking.

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

£ 390450

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

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
    £ 11750
  • 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

£ 37950
  • 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

  %
  %
£
  %

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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