3 bedroom terrace for sale

£235,000

3

Bedrooms

1

Bathrooms

2

Reception

DESCRIPTION Meridian Estates are proud to offer available for Sale this large Victorian three bedroomed property located in the Heart of Cape Hill with Off road parking. The property is Ideal as a rental investment in its current structure, or with some structural changes it can be created into a potential HMO.

The ground floor comprises of an long entrance hallway, two good sized reception rooms and a sizeable kitchen and bathroom which require modernisation.

The first floor contains two large bedrooms.

The third floor holds the third bedroom and separate storage in the attic.

The property further benefits from having a basement below the ground floor and a rear maintained garden.


RECEPTION ROOM 1 13' 9" x 11' 1" (4.21m x 3.38m)

RECEPTION ROOM 2 12' 2" x 11' 3" (3.71m x 3.43m)

KITCHEN 9' 2" x 15' 5" (2.8m x 4.7m)

BATHROOM 6' 10" x 8' 11" (2.1m x 2.72m)

BEDROOM 1 12' 7" x 15' 0" (3.86m x 4.58m)

BEDROOM 2 12' 2" x 16' 10" (3.73m x 5.15m)

BEDROOM 3 12' 4" x 15' 6" (3.78m x 4.73m)

DISCLAIMER 1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. These particulars do not constitute part or all of an offer or contract.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Potential buyers are advised to recheck the measurements before committing to any expense.
5. Meridian Estates Ltd has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6. Meridian Estates Ltd has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.
7. Pictures provided are for guidance only and therefore must be considered inaccurate.
Viewing is highly recommended
Property age : 1920s to 1930s

Nearest Stations:

0.94 miles
Smethwick Rolfe Street
1.33 miles
The Hawthorns
1.5 miles
Smethwick Galton Bridge
1.73 miles
Jewellery Quarter
2.06 miles
Five Ways

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

£ 184825

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
    £ 5875
  • 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

£ 8575
  • 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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