4 Bed HMO, Gravesend, DA12 1JG, £300,000

28 Wellington Street, Gravesend, Kent, DA12 1JG - 27 views - 7 months ago

HMO
Refurb/BRRR
~97 m²
+1 photos

ValuationFair Value











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£12,700

Refurb Costs

£48,048

Bridging Loan Interest

£7,875

Total Cash In

£145,373

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£320,513

Mortgage (After Refinance)

£240,385

Mortgage LTV

75%

Cash Released

£15,385

Cash Left In

£129,988

Equity

£80,128

Room Rate

£433

Gross Rent

£1,732

Running Costs/mo

£1,843

Cashflow/mo

£-111

Cashflow/yr

£-1,330

Gross Yield

7%













Property History

Listed for £300,000

June 6, 2024

Sold for £106,500

2002

Sold for £42,000

1996

Floor Plans

Description

  • INVESTORS ONLY +
  • No chain +
  • HMO +
  • £20,796 Per Annum Income +
  • 1,048 sq.ft +
  • Room lets +
  • Walking distance to the town centre and train station +

* GUIDE PRICE £300,000 to £325,000 *

An excellent investment opportunity to purchase this mid terrace HMO property which offers 1,048 sq.ft of living space across three floors.

The property is currently used for room lets and has a gross annual income of £20,796 which offers a yield of 7%. The demand for room lets in the area is extremely high. The property could also make a great family home but does require some modernisation.

Gravesend town centre is within 0.5 miles walking distance, where you will find a selection of shopping, schooling and social amenities, together with a high speed rail service into London St. Pancras.

Agent Details

Balgores, Gravesend

01474 556893

Next Steps?

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

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