• Offers over £165,000
• Large three/four bed end terrace
• Popular with young professionals and students
• Vacant property, no onward chain
• Estimated rental of £900-950pcm
• Estimated gross rental yield of 8.7%
This spacious 3/4 bedroom end terrace property is perfectly placed for the buy to let rental market. Fallowfield is exceptionally popular with students and young professionals alike, offering quick and convenient access to the main university campus and city centre.
The property has three bedrooms already, and the lounge offers itself as a fourth bedroom (subject to planning and local authority restrictions/permissions). Requiring a degree of updating (bathroom, kitchen, general decorating and carpets), this below market value opportunity could be a great addition to your portfolio.
For further details, contact the Portfolio8 team today!
|Investment - Summary|
|Estimated Rental Income (pcm)||£950.00|
|Annual Rental Income||£11,400.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£41,250.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£55,850.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£950.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£95.00|
|Mortgage Costs (assumed 4% interest only mortgage)||£412.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£556.00|
|Net Return On Capital Employed||8.46%|