Potential 4-Bed HMO, Middlesbrough, TS1 4DF, £75,000

Palmer Street, Middlesbrough, TS1 4DF - 6 views - 2 years ago

HMO
ROI: 30%
~54 m²
+7 photos

ValuationOvervalued

Sold Prices£25K - £95K
Sold Prices/m²£316/m² - £1.3K/m²

 

 

Square Metres

~53.70 m²
Price/m²£1.4K/m²

Value Estimate

£39,210

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£4,950

Total Cash In

£23,700

 

 

Cash Out

 

Room Rate

£387

Gross Rent

£1,548

Running Costs/mo

£958

Cashflow/mo

£590

Cashflow/yr

£7,076

ROI

30%

Gross Yield

25%

Local Sold Prices

50 sold prices from £25K to £95K, average is £62K. £316/m² to £1.3K/m², average is £730/m².

PriceDateDistanceAddressBeds 
£54K11/220.1 mi53, Percy Street, Middlesbrough TS1 4DD3
£40K10/200.11 mi52, Pelham Street, Middlesbrough TS1 4DJ3
£72K03/230.11 mi71, Pelham Street, Middlesbrough TS1 4DJ3
£73K11/220.12 mi39, Clifton Street, Middlesbrough TS1 4BY3
£47K06/210.14 mi86, Clifton Street, Middlesbrough TS1 4BX3
£73K12/220.17 mi23, Romney Street, Middlesbrough TS1 4NE3
£35.3K07/210.18 mi18, Romney Street, Middlesbrough TS1 4NE3
£72K12/220.18 mi16, Stowe Street, Middlesbrough TS1 4ND3
£75K02/230.22 mi76, Gresham Road, Middlesbrough TS1 4LN3
£70K06/210.22 mi96, Gresham Road, Middlesbrough TS1 4LW3
£89K03/230.23 mi11, Petch Close, Middlesbrough TS1 5LE3
£50K12/220.24 mi116, Gresham Road, Middlesbrough TS1 4LP3
£75K10/200.27 mi28, Parliament Road, Middlesbrough TS1 4LE3
£90K05/230.29 mi4, Albert Terrace, Middlesbrough TS1 3PB3
£54.5K11/200.3 mi39, Parliament Road, Middlesbrough TS1 4JP3
£63.5K07/230.31 mi4, Ross Street, Middlesbrough TS1 4EJ3
£52K12/200.33 mi3, Faraday Street, Middlesbrough TS1 4EQ3
£41.5K09/210.35 mi90, Outram Street, Middlesbrough TS1 4EG3
£52.5K05/210.35 mi42, Costa Street, Middlesbrough TS1 4PH3
£62K04/230.35 mi90, Outram Street, Middlesbrough TS1 4EG3
£53K04/210.36 mi10, Harford Street, Middlesbrough TS1 4PR3
£60K10/200.36 mi34, Harford Street, Middlesbrough TS1 4PR3
£39.9K03/230.36 mi26, Harford Street, Middlesbrough TS1 4PR3
£42K08/210.37 mi28, Montrose Street, Middlesbrough TS1 2HU3
£68K04/230.38 mi38, Essex Street, Middlesbrough TS1 4PS3
£70K02/210.38 mi36, Carey Close, Middlesbrough TS1 5NH3
£45K09/230.38 mi69, Crescent Road, Middlesbrough TS1 4QP3
£65K03/230.39 mi1, Surrey Street, Middlesbrough TS1 4QD3
£25K04/210.39 mi30, Surrey Street, Middlesbrough TS1 4QD3
£62K02/230.4 mi41, Surrey Street, Middlesbrough TS1 4QD3
£70K11/220.41 mi33, Acton Street, Middlesbrough TS1 3NA3
£65K02/230.41 mi112, Crescent Road, Middlesbrough TS1 4QS3
£70K08/210.42 mi51, Worcester Street, Middlesbrough TS1 4NS3
£60K07/210.42 mi75, Worcester Street, Middlesbrough TS1 4NS3
£95K08/230.43 mi19, Ayresome Street, Middlesbrough TS1 4NL3
£75K06/210.43 mi49, Ayresome Street, Middlesbrough TS1 4NL3
£58K11/200.43 mi59, Warwick Street, Middlesbrough TS1 4PA3
£28K11/200.44 mi48, Aire Street, Middlesbrough TS1 4PG3
£40K04/210.44 mi58, Aire Street, Middlesbrough TS1 4PG3
£85K04/230.45 mi130a, Crescent Road, Middlesbrough TS1 4QT3
£57.5K11/220.45 mi30, Egerton Street, Middlesbrough TS1 3LT3
£80K02/210.46 mi77, Ayresome Street, Middlesbrough TS1 4NR3
£78K01/210.47 mi5, Myrtle Street, Middlesbrough TS1 3EB3
£64K05/210.48 mi66, Harford Street, Middlesbrough TS1 4PP3
£61.5K12/220.48 mi54, Carlow Street, Middlesbrough TS1 4SD3
£62K12/200.49 mi70, Kildare Street, Middlesbrough TS1 4QY3
£55K01/230.5 mi116, Park Lane, Middlesbrough TS1 3LL3
£58.4K01/210.5 mi78, Surrey Street, Middlesbrough TS1 4QB3
£81K07/230.51 mi17, Caxton Street, Middlesbrough TS5 6AH3
£82K01/230.51 mi8, Caxton Street, Middlesbrough TS5 6AH3

Local Area Statistics

Population in TS1

16,984

Population in Middlesbrough

189,245

Town centre distance

2.41 miles away

Nearest school

0.30 miles away

Nearest train station

0.58 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+8%

Sales demand

Seller's market

Capital growth (5yrs)

+32%

Property History

Listed for £75,000

March 31, 2023

Floor Plans

Description

  • FANTASTIC INVESTMENT OPPORTUNITY +
  • HMO WITH 3 STUDENT FLATS +
  • WITHIN WALKING DISTANCE OF TEESSIDE UNI +
  • CLOSE TO LOCAL AMENITIES +
  • 360 VIRTUAL TOUR +
  • MOTORWAY LINKS +

The Property
This HMO student accommodation is located in the ever-popular Palmer Street in Middlesbrough. It is substantially larger than its outward appearance would have you believe and has bags of potential for any investor!

The property is close to local amenities, Teesside University and has motorway links, so it is certain to have a wide appeal.

Please do not hesitate to get in touch to arrange a viewing at the nearest possible convenient time as we do not expect this superb home to be on the market long.

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.

Agent Details

Purplebricks, covering Teesside

020 3889 9090

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪