Report this ad

Seller Type: Agency, Property Type: House, Number Of Bedrooms: 3

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%.