*High spec 3 bed HMO near Lake District*
Bids:
Buy and Rent Realestate
Details
Athol Street – Lake District, 3 bed, 2-bathroom HMO, Athol Street - Financial Breakdown – 3 Bedroom – 2/3 Bathrooms, , Purchase Price: £74,000.00, Deposit: £18,500.00 - Finance (75% LTV STL with interest paid for 1st 6 months), Conversion/Build: £39,000.00* approx. (subject to further onsite visits), Set up costs/ Design & Build Fees - £14,750.00, Legals Estimate - £1,400.00, Stamp duty - £2,220.00, Survey - £650.00, Furniture and flooring packs can be purchased at an additional cost - £7,913.76, Total Project Cost: £139,933.76, Total Cash Outlay: £84,433.76, , Projected Rental Income: £115.00 PPPW net of bills (water, gas, electricity) x 3 = £17,940.00 per annum (This allows for increased energy prices), Management: £2,152.80 including VAT- (10% fully managed), , NET RETURN ON INVESTMENT AFTER REFINANCE: 28.13%, BASED ON A REFINANCE VALUATION OF £135,000.00 WE CAN RELEASE APPROXIMATELY £108,000.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £31,933.76 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £8,983.20 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 28.13%.
Seller
Vicki
Owner
On website since. 2024
Price: £74000
Vicki
06210699649
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