12.26% Yield – 8 Bedroom HMO, Doncaster Property – DN1 2QL
Description
This is an Off Market 8 Bedroom HMO Property located in Doncaster City. The area has a strong demand for rental properties. The property is near all essential amenities, shows, restaurants, parks, gyms, and many more.
The Seller is ideally looking for £340,000, however, they are open to negotiation.
The Gross Yield for the said property is 12.26%, making it a desirable investment property.
The Cost for renovation is 0. If work is required, then this can be carried out by my trusted build teams.
There is a video for the property that has been carried out by my colleague, this can be sent across directly.
For more Information about the property:
Each room has a kitchen
There are 4 x WC, 2x Showers and 1 x
Bath.
In the last 2 years 100% occupancy
The vendor is London-based and manage it
remotely. Most of the tenants have been
there for over 10 years as , while the
remaining tenants have been there for more
than 2 years. One
Expenses/ Bills:
Gas+electricity – approx 5-6k per annum
Broadband -31 per month
Water -68 per month
Council tax -101 per month
Insurance – 143 per month
Cleaner -65 every 3 weeks
Maintenance – 50-100 per month
Total fixed expenses per month – 900-1000 per
month (without a mortgage)
Cash purchase
Income: £3474pm x 12 = £41,688
Expenses £1000x 12 = £12,000
income before tax: £29668pa / £350,000 8.4% ROCE
With Mortgage
Income: £3474pm x 12 = £41,688
Expenses* £1000x 12 = £12,000
Finance costs: £ 15,759pa ((350K*75%) x 6%)
Money left in the deal: £99,000 (25% deposit+Stamp duty(10,500) +legals(1000))
Income before tax: £13,929pa / £99,000 14% or 15.7% ROCE if buying the company
and not Paying Stamp duty
Video
Featured listings
More from this user
You may also like...
Investors!
Get the latest deals straight to your inbox!
