High Yield Block Of Flats With Over 50% Return On Investment Annually
Coventry, West Midlands
£131,000
1 / 4
- Seller Type
- Agency
- Property Type
- House
- 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%.
Posted: 59 mins ago
Ad ID: 1500901412
VAT number: 297930058Estimated Removal cost for £800 with AnyVan
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