- 3 bed mid-terraced
- Recently refurbished
- UPVC double glazed
- Gas central heating
- 21.3% ROCI
This is a fantastic refurbished property, located in County Durham, with an incredible ROCE of 21.3%.
The property consists of:
• Dining room
• 3 large bedrooms
• Recently refurbished
• Gas central heating
• UPVC double-glazing
• 21.3% ROCI (see illustration)
The current tenant has resided in the property since June 2020 on a rent of £500 pcm.
This produces a gross yield of 8% based on a purchase price of £75,000. If purchased with a BTL mortgage with a 25% deposit, you could achieve 21.3% ROCI inclusive of SDLT and sourcing fee.
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– £2,250 (3% for additional property if applicable).
Any interested parties should conduct their own due diligence.
Yield and return on capital invested is based on the following illustration:
Purchase price: £75,000:
Gross yield figure of 8% equates to £6000 annual rent divided by purchase price of £75,000
ROCI illustration is based on:
Purchase price: £75000 at 25% deposit = £18,750 + £2,250 (SDLT) + £3,000 (sourcing fee) = £24,000
Annual rent: £6,000 pa
Mortgage 2 year discount at 1.54% (Leeds) £900 pa
£6,000 - £900 = £5,100
£5,100 divided by £24,000 = 21.3% ROCI