Superb 4 bed HMO in Stoke Immaculate Throughout Perfect For Students Net Returns 16.18% PA

97.000 £

Description

INVESTMENT OPPORTUNITY, , Cotesheath Street – Stoke-on-Trent, , 4 bed, 4 bathroom HMO, , with Net returns from 16.18%, , Cotesheath Street - Financial Breakdown – 4 Bedroom – 4 Bathrooms, , Purchase Price: £97,000.00, , Deposit: £28,396.75 - Finance (75% LTV STL with interest paid for 1st 6 months), , Conversion/Build: £49,500.20* approx. (subject to further onsite visits), , Set up costs/ Design & Build Fees - £14,750.00, , Legals - £1,400.00, , Stamp duty - £2,910.00, , Survey - £650.00, , Furniture and flooring packs can be purchased at an additional cost - £7,261.00, , Total Project Cost: £173,471.20, Total Cash outlay: £104,867.95, , Rental Income: £100.00 PPPW net of bills (water, gas, electricity) = £20,800.00 (This allows for a temporary energy surcharge and increased mortgage interest rates), , Management: £2,745.60 - per annum approx., , Balance of Annual mortgage cost as 1st 6 months paid: £1,091.25 approx., , TRUE NET INCOME: £16,963.15 per annum, NET RETURN ON INVESTMENT: 16.18% per annum, , NET RETURN ON INVESTMENT AFTER REFINANCE 29.05%, , BASED ON A REFINANCE VALUATION OF £175,000 WE CAN RELEASE APPROXIMATELY £140,000 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £37,617.95 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £10,928.40 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 29.05%!, , •