House For Sale £190,000
Property Description:
This large 5 double bedroom fully compliant HMO has come to the market with current tenants in situ. The property consists of 5 large double bedrooms, let on individual AST’s to working professionals.
There are two large bathrooms to service all tenants, to the ground floor there is a spacious modern kitchen with patio doors leading to the low maintenance garden area.
Overview:
This property is ideal for investors looking to purchase a property to add to their portfolio with minimal input and effort. The property is already up and running and cash flowing.
Houseshare Heroes Ltd are currently managing this property, specialists in Professional HMO Manage-ment.
The Numbers:
Purchase Price: £190,000.00
Approximate Capital In (Mortgage Purchase): £55,650.00
Approximate Cashflow Per Annum: £21,000.00
Approximate Net Profit Per Annum: £8461.00
Approximate roi: 15.86%
Local Area Report:
We are currently managing over 300 professional HMO rooms across Derby and 25 professional rooms within 1 mile radius of this property along with two HMO’s on the next street along. The majority of our tenants are Rolls Royce, Bombardier, nhs and blue-collar workers. The property is located on great bus links for Rolls Royce, Bombardier, City Hospital and City Centre. The property has on street parking without the need of a permit. At this present moment in time our managed properties in this area are at a 100% occupancy level.
Refurbishment Costs:
N/A
Conversion Timescales:
N/A
Utilities:
The utilities are based on council tax, gas, electric, water, insurance, Wi Fi, TV licence and communal fortnightly cleaner being included within the rent.
Rents and Tenant Lead Time:
Gross rents are based on current tenancies, these are also in line with other rooms within the local rental market for double rooms of this standard. We currently aim to fill at least one room per week for properties of this standard.
Management:
Houseshare Heroes are currently managing this property, if you wish to have Houseshare Heroes continues to manage the property post purchase the current rate is 10% + VAT for full management.
This incorporates monthly inspections, fire alarm testing and dealing with tenant issues. Tenant find fee is £150 + VAT per tenant.
This includes marketing the property, conducting viewings, referencing, and setting up of all legal tenancy agreements. As a company Houseshare Heroes specialize in managing over 300 professional rooms around Derby so are in a very strong position to advise on property standards and any change in government and local council legislation moving forward.
This large 5 double bedroom fully compliant HMO has come to the market with current tenants in situ. The property consists of 5 large double bedrooms, let on individual AST’s to working professionals.
There are two large bathrooms to service all tenants, to the ground floor there is a spacious modern kitchen with patio doors leading to the low maintenance garden area.
Overview:
This property is ideal for investors looking to purchase a property to add to their portfolio with minimal input and effort. The property is already up and running and cash flowing.
Houseshare Heroes Ltd are currently managing this property, specialists in Professional HMO Manage-ment.
The Numbers:
Purchase Price: £190,000.00
Approximate Capital In (Mortgage Purchase): £55,650.00
Approximate Cashflow Per Annum: £21,000.00
Approximate Net Profit Per Annum: £8461.00
Approximate roi: 15.86%
Local Area Report:
We are currently managing over 300 professional HMO rooms across Derby and 25 professional rooms within 1 mile radius of this property along with two HMO’s on the next street along. The majority of our tenants are Rolls Royce, Bombardier, nhs and blue-collar workers. The property is located on great bus links for Rolls Royce, Bombardier, City Hospital and City Centre. The property has on street parking without the need of a permit. At this present moment in time our managed properties in this area are at a 100% occupancy level.
Refurbishment Costs:
N/A
Conversion Timescales:
N/A
Utilities:
The utilities are based on council tax, gas, electric, water, insurance, Wi Fi, TV licence and communal fortnightly cleaner being included within the rent.
Rents and Tenant Lead Time:
Gross rents are based on current tenancies, these are also in line with other rooms within the local rental market for double rooms of this standard. We currently aim to fill at least one room per week for properties of this standard.
Management:
Houseshare Heroes are currently managing this property, if you wish to have Houseshare Heroes continues to manage the property post purchase the current rate is 10% + VAT for full management.
This incorporates monthly inspections, fire alarm testing and dealing with tenant issues. Tenant find fee is £150 + VAT per tenant.
This includes marketing the property, conducting viewings, referencing, and setting up of all legal tenancy agreements. As a company Houseshare Heroes specialize in managing over 300 professional rooms around Derby so are in a very strong position to advise on property standards and any change in government and local council legislation moving forward.
