High Yield Block Of Flats With Over 50% Return On Investment Annually
Salford, Manchester
£131,000
1 of 4
- Posted
- 25 mins ago
- Seller Type
- Agency
- Property Type
- House
- Number Of Bedrooms
- 6
Description
Lord Street - Financial Breakdown – 6 Bedroom – 6 Bathrooms
Purchase Price: £131,000.00
Deposit: £38,350.00 (includes 6 months interest for bridging loan)
Conversion/Build: £93,080.02 approx. (subject to further onsite visits)
Set up costs/ Design & Build Fees - £19,750.00
Legals Estimate - £1,400.00
Stamp duty - £6,670.00
Survey - £1000.00
Furniture and flooring packs can be purchased at an additional cost - £14,700.00
Total Project Cost: £273,200.27 (includes 6 months interest for bridging loan)
Total Cash Outlay: £174,950.27 (includes 6 months interest for bridging loan)
Projected Rental Income: £140.00 PPPW net of bills (water, gas, electricity) x 6 = £43,680.00 per annum
Management: £6,739.20 including VAT - (10% fully managed)
Net Income: £39,940.80
NET RETURN ON INVESTMENT AFTER REFINANCE: 51.00%
BASED ON A REFINANCE VALUATION OF £285,000.00 WE CAN RELEASE APPROXIMATELY £213,750.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £59,450.27 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £30,322.05 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 51.00%.
Ad ID: 1500901314
VAT number: 297930058Disclaimer
This advertisement and the information related to it are provided and maintained by the advertiser. Gumtree.com is not responsible and can not guarantee the accuracy or completeness of this advertisement. Please note that every advertisement for rent or for sale should at a minimum, display the energy performance rating of the property. See our Flats and Housing Posting Rules for more information.
Stay Safe
"Be wary of buyers asking to use 'Gumtree delivery' or 'Payments on Gumtree' because Gumtree doesn't offer these services currently. Requests from Whatsapp or SMS could be scams"
"Only access Gumtree from gumtree.com and do not follow links sent by other users"
"Share photos and ask lots of questions about the items you are buying and selling"
"If an ad or reply sounds too good to be true, it probably is"
"Use the 'Reply to ad' button for your safety and privacy"
"Don't reply to email addresses hidden in text and pictures"
"Trade in person, use PayPal 'paying for an item or service' to transfer money"
"Beware of fake Gumtree, eBay or escrow sites and invoices"
1 of 8