- 3 bed mid-terraced property
- Gas centrally heated
- UPVC double glazed
- Very good condition
- ROCI: 16.8%
Sourced are delighted to present this mid-terraced investment opportunity with a fantastic ROCE of 16.8%.
The property consists of a large lounge, dining room, kitchen, 3 large bedrooms and a bathroom. It is gas centrally heated, has UPVC double-glazing and is in very good condition.
The property has parking, a yard to the rear and is freehold.
The current tenants have resided in the property since August 2016 on a rent of £500 pcm.
This produces a gross yield of 6.4% based on a purchase price of £93,000.
If purchased with a BTL mortgage with a 25% deposit, you could achieve 16.8% ROCI inclusive of SDLT and sourcing fee.
The landlord has owned the property for 10 years and is selling in order to concentrate on property development.
Sourcing fee = £3,000
Stamp duty estimate prior to 31st March 2021– £2,790 (3% for additional property if applicable).
Any interested parties should conduct their own due diligence.
Yield and return on capital invested illustration is based on the following:
Purchase price: £93,000:
Gross yield figure of 6.4% equates to £6,000 annual rent divided by purchase price of £93,000
ROCI illustration is based on:
Purchase price: £93,000 at 25% deposit = £23,250 + £2,790 (SDLT) + £3,000 (sourcing fee) = £29,040
Annual rent: £6,000 pa
Mortgage 2 year discount at 1.54% (Leeds) £1,104 pa
£,6000 - £1,104 = £4,896
£4,896 divided by £29,040 = 16.8% ROCI