5 Bed HMO, Harrogate, HG1 5HA, £380,000

9 Nydd Vale Terrace, Harrogate, North Yorkshire, HG1 5HA - 6 views - a year ago

HMO
Refurb/BRRR
ROI: 4%
109 m²
+7 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£95,000

Stamp Duty & Legal Fees

£19,100

Refurb Costs

£43,600

Bridging Loan Interest

£9,975

Total Cash In

£169,425

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£338,963

Mortgage (After Refinance)

£254,223

Mortgage LTV

75%

Cash Left In

£169,425

Equity

£84,741

Room Rate

£555

Gross Rent

£2,775

Running Costs/mo

£2,221

Cashflow/mo

£554

Cashflow/yr

£6,648

ROI

4%

Gross Yield

9%













Property History

Listed for £380,000

October 18, 2023

Sold for £168,000

2006

Sold for £55,000

1999

Sold for £49,500

1995

Description

  • Investment property in HG1 area, close to shopping and the train and bus station +
  • Excellent location for short or long lets +
  • Great options for conversion to HMO or several separate dwellings +
  • Accommodation over 4 floors +
  • EPC rating D +

An unusual terrace townhouse property close to the centre of Harrogate.

In need of some updating to realise its full potential, this is a fine opportunity for an investor with vision to create a worthwhile investment property in a popular location for both short-term and long-term rentals.

The property is arranged over four floors, currently laid out as two bedrooms to the top floor, two bedrooms and bathroom to the first floor with a separate toilet between first and ground floors. Ground floor holds a kitchen and living room, and the basement contains a further open-plan living and kitchen space, bathroom, and the fifth bedroom.

Enclosed yards to front and rear, on-street parking space directly outside the rear gate.

Surroundings
ASDA supermarket less than half a mile, Harrogate bus station and train station also within half a mile. Shopping, food outlets, gym, Harrogate Theatre all within a couple of minutes on foot.

Directions
From Harrogate town centre drive down Parliament Street to the bottom and turn right at the traffic lights onto King's Road. Turn right at the next lights up Cheltenham Parade, and then first left onto Cheltenham Mount. Take the second left onto Mayfield Grove and then the first right onto Strawberry Dale and left onto Nydd Vale Road. The back gate of Number 9 Nydd Vale Terrace is on your right.

Agent Details

Silverspring Sales Ltd, Leeds

0113 519 9078

Next Steps?

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

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