Description

INVESTMENT OPPORTUNITY Altham Street – Middlesbrough 4 bed, 3-bathroom HMO Altham street - Financial Breakdown – 4 Bedroom – 3 Bathrooms Purchase Price: £135,000.00 Deposit: £71,250.00 Set up costs/ Design & Build Fees - £14,750.00 Legals Estimate - £1,400.00 Stamp duty - £2550.00 Survey - £650.00 Total Project Cost: £154,350.00 Total Cash Outlay : £90,600.00 Projected Rental Income: £90.00PPPW x 3 (ensuite) and £80 PPPW (non ensuite) net of bills (water, gas, electricity) = £18,200.00 (This is projected rent that allows for a increased energy and increased mortgage interest rates) Management: £2,808.00 including VAT- (10% fully managed) Mortgage 12 months – £3,825.00 TRUE NET INCOME: £11,567.00 per annum TRUE NET RETURNS – 12.76%