| Purchase price | |
| Refurbishment cost | |
| Solicitor's fees | |
| TOTAL |
|---|
Cashflow
| Property valuation | £170,000 |
| Mortgage loan @80% LTV | £127,500 |
| Mortgage payment (interest only/PCM) | £425 |
| Rent (PCM) | £2,750 |
| Lettings management - 12% (PCM) | £358 |
| Operating expenses | £550 |
| CASHFLOW (PCM) | £1,418 |
|---|
ROI & Yield
| Money left in | £40,350 |
| Cashflow (PA) | £17,010 |
| Return on investment (PA) | 42% |
| Gross Yield | 19.4% |
|---|
40-42 Nuttall Street
This property was fully renovated 2-3 years ago, converted from a large house into this HMO. Renovations included; full re-wire, mains water increased with a wider pipe, new central heating and hot water unvented system installed. this property was purchased with a business partner as an already performing asset. Not our normal strategy but the return on investment met our investment criteria. It is a 7 bedroom (3 ensuite) HMO, close to Accrington town centre with a variety of priced room options for varying budgets.
