Description : 11 Apr, 2023
INVESTMENT OPPORTUNITY
Gresham road – Middlesbrough
4 bed, 4-bathroom HMO
with Net returns from 17.58%
Gresham Road - Financial Breakdown – 4 Bedroom – 4 Bathrooms
Purchase Price: £80,000.00
Deposit: £23,420.00 - Finance (75% LTV STL with interest paid for 1st 6 months)
Conversion/Build: £54,726.00* approx. (subject to further onsite visits)
Set up costs/ Design & Build Fees - £14,750.00
Legals Estimate - £1,400.00
Stamp duty - £2,400.00
Survey - £650.00
Furniture and flooring packs can be purchased at an additional cost - £7,661.02
Total Project Cost: £161,587.02
Total Cash outlay: £105,007.02
Projected Rental e: £110.00PPPW x 4 net of bills (water, gas, electricity) = £22,880 (This is projected rent that allows for a increased energy and increased mortgage interest rates)
Management: £3,369.60 including VAT- (10% fully managed)
Balance of Annual mortgage cost as 1st 6 months paid: £1050.00 approx.
TRUE NET INCOME: £18,460.40 per annum
NET RETURN ON INVESTMENT: 17.58% per annum
NET RETURN ON INVESTMENT AFTER REFINANCE: 28.69%
BASED ON A REFINANCE VALUATION OF £155,000 WE CAN RELEASE APPROXIMATELY £116,250 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £48,757.02 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £13,988.53 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 28.69%!
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Five seats configured 2+3,Six speakers,Audio system with touch screen ; radio receives AM/FM, digital and RDS colour screen,Steering wheel mounted rem
Black ikea tv unit, good condition. Smoke free home. Pick up only
PICKUP TW7 5PZ OR ADD 2.50 SHIPPING 2M BLACK 21 Pin Scart Video /TV/VCR/PVR SCART Lead with RCA AUDIO OUT CABLES Colour:BlackApplication:DVD Player, E
3 MONTHS MECHANICAL WARRANTY +FULL SERVICE HISTORY +MOT TILL 23/06/2023+£20 ROAD TAX A YEAR +1 OWNER +2 KEYS +ELECTRIC WINDOWS +ELECTRIC DOOR MIRRORS