6 Bed HMO, Colchester, CO3 3EJ, £425,000

Francis Kellerman Walk, Colchester CO3 3EJ - 3 views - a year ago

HMO

ROI: 5%

~104 m²

+9 photos

ValuationOvervalued

Sold Prices	£375K - £1.1M
Sold Prices/m²	£2.5K/m² - £3.7K/m²

Square Metres	~103.99 m²
Price/m²	£4.1K/m²
Value Estimate	£349,674£349,674

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£106,250£106,250
Stamp Duty & Legal Fees	£31,200£31,200
Total Cash In	£137,450£137,450

Cash Out
Room Rate	£556£556
Gross Rent	£3,336
Running Costs/mo	£2,725£2,725
Cashflow/mo	£611£611
Cashflow/yr	£7,334£7,334
ROI	5%5%
Gross Yield	9%9%

Local Sold Prices

11 sold prices from £375K to £1.1M, average is £690K. £2.5K/m² to £3.7K/m², average is £3.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£1.1M	05/21	0.28 mi	9, Oxford Road, Colchester, Essex CO3 3HN	£3,363	342	6	Terraced House
£497.5K	04/21	0.35 mi	21, Parkside Quarter, Colchester, Essex CO1 1EA	£2,909	171	6	Terraced House
£690K	08/21	0.38 mi	43, East Stockwell Street, Colchester, Essex CO1 1SS	-	-	6	Semi-Detached House
£1.1M	05/23	0.38 mi	17, Beverley Road, Colchester, Essex CO3 3NG	£3,621	290	6	Detached House
£435K	01/22	0.41 mi	11, Williams Walk, Colchester, Essex CO1 1TS	£3,129	139	6	Detached House
£850K	03/21	0.79 mi	145, Lexden Road, Colchester, Essex CO3 3RN	£3,512	242	6	Detached House
£500K	06/21	1.88 mi	1, Pershore End, Colchester, Essex CO3 9UZ	£3,731	134	6	Detached House
£600K	09/21	1.89 mi	30, Tumulus Way, Colchester, Essex CO2 9SD	-	-	6	Detached House
£765K	06/23	2.3 mi	34, Villa Road, Stanway, Colchester, Essex CO3 0RH	-	-	6	Detached House
£375K	02/21	2.33 mi	67, Sweet Briar Road, Stanway, Colchester, Essex CO3 0HH	£2,534	148	6	Semi-Detached House
£920K	03/21	2.64 mi	Woodside, Layer Road, Kingsford, Colchester, Essex CO2 0HT	-	-	6	Detached House

Local Area Statistics

Population in CO3	28,48628,486
Population in Colchester	214,734214,734
Town centre distance	0.21 miles away0.21 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.63 miles away0.63 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+38%+38%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+9%+9%

Property History

Price changed to £425,000

December 28, 2024

Listed for £450,000

November 9, 2023

Floor Plans

Description

Overlooking Hilly Fields +
Quiet and picturesque outlook +
Cul-de-sac position +
Versatile layout +
Garden with rear access +
Currently let as a licenced House of Multiple Occupancy +
Fully compliant and producing £40,000 rent per annum rent +
First floor bathroom +
Two en-suites, ground floor cloakroom +

This spacious family home is a three-storey townhouse within a cul-de-sac overlooking Hilly Fields. Its versatile layout allows for an L-shaped lounge at the first-floor level with enviable views across the green space. It comprises a lounge, kitchen/diner, cloakroom and utility to the ground floor, six bedrooms (two with en-suite), and a bathroom to the upper floors. It further benefits central heating, double glazing, a garage and a garden with rear access. The house is a fully occupied, licenced, and compliant House of Multiple Occupancy; the property can be purchased as an ongoing and immediate income-producing investment.

EPC Rating: C

Agent Details

Properly, London

020 3840 3405

Next Steps?

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