- 3 bed mid-terrace
- Rear yard with parking
- Very good condition
- Gas central heating and UPVC windows
- 18% ROCE
- Very close to town centre
Sourced are proud to present this off-market mid-terraced property with a huge ROCE of 18%.
The property consists of:
• Dining room
• 3 large bedrooms
• Gas central heating
• UPVC double-glazing
• Rear yard with parking
• 18% ROCI (see illustration)
The current tenant has resided in the property since December 2019 on a rent of £500 pcm.
If purchased with a BTL mortgage with a 25% deposit, you could achieve 14% ROCI inclusive of SDLT and sourcing fee and 6.9% yield.
The landlord has owned the property in approximately 10 years and is selling in order to concentrate on property development.
Sourcing fee = £3,000
Stamp duty estimate prior to 31st March 2021– £2,625 (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: £87,500
Gross yield figure of 6.9% equates to £6,000 annual rent divided by purchase price of £87,500
ROCI illustration is based on:
Purchase price: £87,500 at 25% deposit = £21,875 + £2,625 (SDLT) + £3,000 (sourcing fee) = £27,500
Annual rent: £6,000 pa
Mortgage 2 year discount at 1.54% (Leeds) £1,044 pa
£6,000 - £1,044 = £4,956
£4,956 divided by £27,500 = 18% ROCI