6 Bed HMO, Nottingham, NG7 3PH £260,000

Denison Court, Denison Street, Nottingham, Nottinghamshire, NG7 3PH - 34 views - 2 years ago

Sold STC

Leasehold

HMO

Refurb/BRRR

Inside Article 4

ROI: 10%

~124 m²

ValuationUndervalued

Sold Prices	£180K - £1.7M
Sold Prices/m²	£1.4K/m² - £8.6K/m²

Square Metres	~124.10 m²
Price/m²	£2.1K/m²
Value Estimate	£267,800£267,800
BMV	3%

End Value (After Refurb)	£211,113£211,113

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£65,000£65,000
Stamp Duty & Legal Fees	£9,500£9,500
Refurb Costs	£50,174£50,174
Bridging Loan Interest	£6,825£6,825
Total Cash In	£133,249£133,249

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£211,113£211,113
Mortgage (After Refinance)	£158,334£158,334
Mortgage LTV	75%75%
Cash Left In	£133,249£133,249
Equity	£52,778£52,778
Room Rate	£507£507
Gross Rent	£3,042£3,042
Running Costs/mo	£1,925£1,925
Cashflow/mo	£1,117£1,117
Cashflow/yr	£13,405£13,405
ROI	10%10%
Gross Yield	14%14%

Local Sold Prices

26 sold prices from £180K to £1.7M, average is £451.3K. £1.4K/m² to £8.6K/m², average is £2.8K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£180K	11/24	0.13 mi	272, Alfreton Road, Nottingham NG7 5LS	£1,525	118	6	Terraced House
£235K	01/23	0.46 mi	55, Burford Road, Nottingham, City Of Nottingham NG7 6BB	£1,506	156	6	Semi-Detached House
£1.3M	10/23	0.58 mi	16, Cavendish Crescent North, Nottingham, City Of Nottingham NG7 1BA	£3,178	409	6	Detached House
£766K	10/23	0.71 mi	5, Newcastle Circus, Nottingham NG7 1BJ	£3,435	223	6	Detached House
£342K	01/25	0.71 mi	78, Harrington Drive, Nottingham NG7 1JN	£2,280	150	6	Detached House
£342K	01/25	0.71 mi	78, Harrington Drive, Nottingham NG7 1JN	-	-	6	Detached House
£227K	08/23	0.72 mi	15, Tudor Grove, Nottingham NG1 4HR	£1,376	165	6	Terraced House
£227K	08/23	0.72 mi	15, Tudor Grove, Nottingham NG1 4HR	-	-	6	Terraced House
£1.7M	09/22	0.73 mi	29, Cavendish Road East, Nottingham, City Of Nottingham NG7 1BB	£4,406	386	6	Detached House
£540K	01/24	0.8 mi	5, Second Avenue, Forest Fields, Nottingham NG7 6JJ	£8,571	63	6	Detached House
£540K	01/24	0.8 mi	5, Second Avenue, Forest Fields, Nottingham NG7 6JJ	-	-	6	Detached House
£265K	05/25	0.81 mi	235, Mansfield Road, Nottingham NG1 3FT	£2,524	105	6	Terraced House
£265K	05/25	0.81 mi	235, Mansfield Road, Nottingham NG1 3FT	-	-	6	Terraced House
£1.0M	05/21	0.87 mi	2, Huntingdon Drive, Nottingham, City Of Nottingham NG7 1BW	£2,757	370	6	Terraced House
£343K	08/23	0.91 mi	12, Regent Street, New Basford, Nottingham, City Of Nottingham NG7 7BJ	£2,144	160	6	Semi-Detached House
£850K	07/23	1.13 mi	5, Magdala Road, Nottingham, City Of Nottingham NG3 5DE	£5,145	165	6	Detached House
£275K	01/23	1.15 mi	61, Herbert Road, Nottingham, City Of Nottingham NG5 1BS	£1,858	148	6	Semi-Detached House
£230K	05/25	1.2 mi	1, Hawton Crescent, Nottingham NG8 1BZ	£2,875	80	6	Bungalow
£230K	05/25	1.2 mi	1, Hawton Crescent, Nottingham NG8 1BZ	-	-	6	Semi-Detached House
£685K	03/25	2.25 mi	73, Main Road, Nottingham NG11 7AP	£2,546	269	6	Semi-Detached House
£640K	08/23	2.47 mi	146, Wollaton Vale, Wollaton, Nottingham, City Of Nottingham NG8 2PL	-	-	6	Detached House
£427.5K	04/23	2.5 mi	3, Melton Grove, West Bridgford, Nottingham, Nottinghamshire NG2 7NX	£2,889	148	6	Semi-Detached House
£475K	07/21	2.71 mi	12, Marlborough Road, Beeston, Nottingham, Nottinghamshire NG9 2HG	-	-	6	Detached House
£477.5K	06/21	2.73 mi	11, North Road, West Bridgford, Nottingham, Nottinghamshire NG2 7NG	-	-	6	Semi-Detached House
£540K	07/23	2.9 mi	14, Temple Drive, Nuthall, Nottingham, Nottinghamshire NG16 1BE	£3,034	178	6	Detached House
£502.9K	08/21	2.9 mi	16, Littlegreen Road, Woodthorpe, Nottingham, Nottinghamshire NG5 4LN	-	-	6	Detached House

Local Area Statistics

Population in NG7	56,41656,416
Population in Nottingham	741,596741,596
Town centre distance	0.36 miles away0.36 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.37 miles away0.37 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+6%+6%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+45%+45%

Property History

Listed for £260,000

September 20, 2023

Floor Plans

Description

Asking Price: £260,000

A Six bedroom, fully licensed HMO property presented to market with tenants in situ. The property is ideally located within close proximity to Nottingham Trent Uni and only 10 minutes away from the city centre.

Set within gated complex a fantastic opportunity for landlords to acquire a lucrative investment to their portfolio.

Spanning over three stories the property offers ample space throughout with entrance hall, communal kitchen and living room all to the ground floor.

To the first floor there are three bedrooms with shower room and three further bedrooms on the second floor serviced by second shower room.

The home currently earns in the region of £125pwpp but with a degree of modernisation could achieve more.

A leasehold property with approximately 99 years remaining and a quarterly payment of £283 for service charge and ground rent combined.

Call now to arrange a viewing.

Agent Details

Whitegates, Sherwood

0115 647 7128

Next Steps?

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

Similar Properties

Like this property? Maybe you'll like these ones close by too.

Sold STC

2 Bed House, Refurb/BRRR, Nottingham, NG7 5QL

£120,000

5 views • 6 months ago • 68 m²

Inside Article 4

4 Bed HMO, Nottingham, NG7 3HF

£265,000

4 views • 3 months ago • 129 m²

Sold STC

3 Bed House, Refurb/BRRR, Nottingham, NG7 5QB

£150,000

1 views • 2 months ago • 93 m²

Sold STC

2 Bed Flat, Refurb/BRRR, Nottingham, NG7 3GT

£150,000

5 months ago • 68 m²

6 Bed HMO, Nottingham, NG7 3PH £260,000

ValuationUndervalued

Investment OpportunityOpen in Analyser

Local Sold PricesDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

Similar Properties

2 Bed House, Refurb/BRRR, Nottingham, NG7 5QL

4 Bed HMO, Nottingham, NG7 3HF

3 Bed House, Refurb/BRRR, Nottingham, NG7 5QB

2 Bed Flat, Refurb/BRRR, Nottingham, NG7 3GT

Investment Opportunity

Local Sold Prices