5 Bed HMO, King's Lynn, PE30 5PY, £225,000

London Road, King's Lynn, Norfolk, PE30 5PY - 2 years ago

Sold STC
HMO
ROI: 4%
~113 m²
+6 photos

ValuationUndervalued

Sold Prices£265K - £675K
Sold Prices/m²£1.3K/m² - £5.4K/m²

 

 

Square Metres

~113.16 m²
Price/m²£2K/m²

Value Estimate

£256,786
BMV14%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£56,250

Stamp Duty & Legal Fees

£12,450

Total Cash In

£68,700

 

 

Cash Out

 

Room Rate

£375

Gross Rent

£1,875

Running Costs/mo

£1,631

Cashflow/mo

£244

Cashflow/yr

£2,929

ROI

4%

Gross Yield

10%

Local Sold Prices

29 sold prices from £265K to £675K, average is £395K. £1.3K/m² to £5.4K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£457.6K08/230.25 mi57, Goodwins Road, King's Lynn, Norfolk PE30 5PE5
£300K08/230.39 mi92, Tennyson Road, King's Lynn, Norfolk PE30 5NG5
£370K04/240.39 mi5, Avenue Road, King's Lynn, Norfolk PE30 5NN5
£600K11/230.47 mi3, Kings Staithe Square, King's Lynn, Norfolk PE30 1JE5
£283.5K11/210.59 mi11, Tennyson Avenue, King's Lynn, Norfolk PE30 2QG5
£365K06/210.86 mi3, Buttercup Lane, West Lynn, King's Lynn, Norfolk PE34 3LU5
£405K09/231 mi37, River Lane, Gaywood, King's Lynn, Norfolk PE30 4HD5
£385K12/221.19 mi71, Gayton Road, Gaywood, King's Lynn, Norfolk PE30 4EF5
£550K11/231.51 mi11, Baldwin Road, King's Lynn, Norfolk PE30 4AL5
£354K04/211.57 mi3, Cedar Row, King's Lynn, Norfolk PE30 3BA5
£515K05/211.64 mi94, Gayton Road, King's Lynn, Norfolk PE30 4ER5
£360K05/212.15 mi33, Low Road, South Wootton, King's Lynn, Norfolk PE30 3NN5
£355K12/222.16 mi101, Reffley Lane, King's Lynn, Norfolk PE30 3SR5
£675K07/232.17 miMarsh House, Hall Lane, South Wootton, King's Lynn, Norfolk PE30 3LQ5
£400K04/212.18 mi28, Back Lane, West Winch, King's Lynn, Norfolk PE33 0LF5
£425K11/202.21 mi4a, Elmhurst Drive, South Wootton, King's Lynn, Norfolk PE30 3LA5
£298K04/212.6 mi11, Wimpole Drive, South Wootton, King's Lynn, Norfolk PE30 3UH5
£265K12/232.61 mi33, Park Hill, Middleton, King's Lynn, Norfolk PE32 1RJ5
£500K02/212.65 miHigh Orchard, Chequers Lane, North Runcton, King's Lynn, Norfolk PE33 0QN5
£335K04/212.71 mi15, Cholmondeley Way, West Winch, King's Lynn, Norfolk PE33 0SY5
£557.5K02/212.74 mi114, Grimston Road, South Wootton, King's Lynn, Norfolk PE30 3NS5
£425.4K12/202.75 miSchool House, The Green, North Runcton, King's Lynn, Norfolk PE33 0RB5
£395K12/202.77 mi54, Common Lane, North Runcton, King's Lynn, Norfolk PE33 0RF5
£488K01/212.81 mi30, Station Road, Clenchwarton, King's Lynn, Norfolk PE34 4DG5
£357.5K12/212.86 mi86, Hall Lane, West Winch, King's Lynn, Norfolk PE33 0QF5
£375K01/212.86 mi17, Southfield Drive, West Winch, King's Lynn, Norfolk PE33 0PF5
£470K01/232.87 mi16, Southfield Drive, West Winch, King's Lynn, Norfolk PE33 0PF5
£330K06/212.92 mi7, Pine Tree Chase, West Winch, King's Lynn, Norfolk PE33 0QQ5
£530K10/222.97 mi6, Cavendish Close, Middleton, King's Lynn, Norfolk PE32 1YD5

Local Area Statistics

Population in PE30

43,924

Population in King's Lynn

108,995

Town centre distance

0.88 miles away

Nearest school

0.40 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+26%

Property History

Listed for £225,000

June 19, 2023

Floor Plans

Description

  • Licenced HMO (House of multiple occupation) +
  • Sizeable kitchen/diner with modern fixtures +
  • Five Bedrooms +
  • Ensuites +
  • Garden +
  • Ideal Location Near Town Centre +

A 5 bedroom licenced HMO (with ensuites) in a convenient location close to town centre, situated in King's Lynn PE30, offering comfortable living. The property is presented in good condition and fitted with all the basic facilities.

The property is an ideal investment opportunity generating approximate Gross yield of 13%

The ground floor benefits from a spacious fitted kitchen/diner with modern fittings including oven with extractor, hob, washing machine, two fridge freezers and sink – offering both ample space and convenience when it comes to preparing and cooking.

There are generous size bedrooms, sleeping six in total.
Each one with is own ensuite bathroom featuring a shower, sink and WC. All bedrooms are furnished and each benefit from a bed, bedding, wardrobe, bedside table and curtains, with windows to either the front or rear of the home.

INTERNAL VIEWING HIGHLY ADVISED

Property has been affected by flooding in the past, we recommend you seek home insurance quotes in advance

Here's how we can assist you:

If you're looking to sell or let your property, we're pleased to offer a complimentary, no-obligation market appraisal. Additionally, we can connect you with a mortgage advisor for expert guidance. Furthermore, there's the possibility that we can obtain EPC, gas certificate, EICR, solicitor quote or a survey on your behalf. For more details, please reach out to us at / House Online for themselves and for the sellers or lessors of this property whose agents they are give notice that:

The particulars are set out as a general outline only for the guidance of intended buyers and do not constitute, nor constitute part of, an offer or contract.

All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending buyers or tenants should not rely on them as statements of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Measurements of doors, windows, rooms, and other items are approximate, and no responsibility is assumed for any errors, omissions, or misstatements. None of the appliances mentioned in the information have been tested, and therefore, we cannot guarantee their condition, functionality, or operational status.

No person in the employ of My House Online has any authority to make or give any representation or warranty whatever in relation to this property

It's important to note that My House Online Ltd is committed to adhering to the guidelines outlined in the EU's Second Money Laundering Directive, which was introduced before parliament at the conclusion of November 2003, with regulations taking effect from March 1, 2004. These regulations encompass offenses under the Terrorism Act 2000 (as amended by the anti-terrorism Crime and Security Act 2001) and the Proceeds of Crime Act 2002.

Agent Details

My House Online, King's Lynn

01555 708874

Next Steps?

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