8 Bed HMO, Eastbourne, BN21 3ES £650,000

Bourne Street, Eastbourne, BN21 3ES - a year ago
HMO
ROI: 4%
~190 m²
Property image

ValuationOvervalued

Sold Prices£240K - £1.1M
Sold Prices/m²£307/m² - £4K/m²

 

 

Square Metres

~189.60 m²
Price/m²£3.4K/m²

Value Estimate

£548,170

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£162,500

Stamp Duty & Legal Fees

£56,200

Total Cash In

£218,700

 

 

Cash Out

 

Room Rate

£576

Gross Rent

£4,608

Running Costs/mo

£3,948

Cashflow/mo

£660

Cashflow/yr

£7,918

ROI

4%

Gross Yield

9%

Local Sold Prices

50 sold prices from £240K to £1.1M, average is £437K. £307/m² to £4K/m², average is £3.1K/m².

Price
Date
Distance
Address
Beds
 
£385K10/220.17 mi45, Langney Road, Eastbourne, East Sussex BN21 3QD4
£320K11/220.24 mi84, Longstone Road, Eastbourne, East Sussex BN21 3SL4
£444K06/250.27 mi16, Cavendish Avenue, Eastbourne BN22 8EN4
£444K06/250.27 mi16, Cavendish Avenue, Eastbourne BN22 8EN4
£375K10/230.29 mi44, Belmore Road, Eastbourne, East Sussex BN22 8BL4
£340K06/210.3 mi17, Cavendish Avenue, Eastbourne, East Sussex BN22 8EW4
£375K03/230.36 mi9, Rylstone Road, Eastbourne, East Sussex BN22 7HN4
£375K02/230.38 mi70, Latimer Road, Eastbourne, East Sussex BN22 7DE4
£275K10/210.41 mi31, Western Road, Eastbourne, East Sussex BN22 8HP4
£700K06/210.45 mi1, Hyde Gardens, Eastbourne, East Sussex BN21 4PN4
£650K05/250.46 mi14, Lushington Road, Eastbourne BN21 4LL4
£650K05/250.46 mi14, Lushington Road, Eastbourne BN21 4LL4
£320K02/230.46 mi7, Commercial Road, Eastbourne, East Sussex BN21 3XE4
£322K12/240.46 miCoastguard Square, 20, Addingham Road, Eastbourne BN22 7DU4
£344K03/250.48 mi97b Whitehouse Cottage, South Street, Eastbourne BN21 4LR4
£344K03/250.48 mi97b Whitehouse Cottage, South Street, Eastbourne BN21 4LR4
£466K12/220.5 mi120, Whitley Road, Eastbourne, East Sussex BN22 8LT4
£945K10/240.51 mi27 Little Lodge, Wish Road, Eastbourne BN21 4NX4
£335K06/210.52 mi38, Clarence Road, Eastbourne, East Sussex BN22 8HG4
£515K05/250.53 mi5, Hardwick Road, Eastbourne BN21 4NY4
£515K05/250.53 mi5, Hardwick Road, Eastbourne BN21 4NY4
£425K07/250.56 mi90, Whitley Road, Eastbourne BN22 8ND4
£390K07/250.57 mi30, Whitley Road, Eastbourne BN22 8NJ4
£460K12/220.57 mi38, Carlton Road, Eastbourne, East Sussex BN22 7HD4
£480K05/210.6 mi37, St Philips Avenue, Eastbourne, East Sussex BN22 8LU4
£385K06/210.61 mi3, Camden Road, Eastbourne, East Sussex BN21 4SU4
£870K06/210.62 miBarncote, Blackwater Road, Eastbourne, East Sussex BN21 4JB4
£446.7K06/250.62 mi15, Ringwood Road, Eastbourne BN22 8TA4
£595K09/240.63 mi35, Hartfield Road, Eastbourne, East Sussex BN21 2AR4
£480K12/220.65 mi58, Ringwood Road, Eastbourne, East Sussex BN22 8TB4
£370K09/210.65 mi68, Ringwood Road, Eastbourne, East Sussex BN22 8TB4
£340K06/210.65 mi66, Ringwood Road, Eastbourne, East Sussex BN22 8TB4
£600K02/230.66 mi29, St Annes Road, Eastbourne, East Sussex BN21 2DJ4
£575K02/230.67 mi16, Gorringe Road, Eastbourne, East Sussex BN22 8XL4
£480K03/230.68 mi1, Churchfield Square, Eastbourne, East Sussex BN21 2GN4
£430K06/210.69 mi67, Beach Road, Eastbourne, East Sussex BN22 7HA4
£244K05/250.7 miArundel House, Latimer Road, Eastbourne BN22 7JD4
£1.1M12/220.72 miClovelly Cottage, 22, Blackwater Road, Eastbourne, East Sussex BN21 4HD4
£492K03/230.72 mi48, Moy Avenue, Eastbourne, East Sussex BN22 8UG4
£424.5K06/230.77 mi68, Moy Avenue, Eastbourne, East Sussex BN22 8UQ4
£1.1M01/230.8 mi4, Dittons Road, Eastbourne, East Sussex BN21 1DN4
£397.5K06/210.82 mi19, Astaire Avenue, Eastbourne, East Sussex BN22 8UN4
£420K06/250.83 mi39, Desmond Road, Eastbourne BN22 7LE4
£420K06/250.83 mi39, Desmond Road, Eastbourne BN22 7LE4
£240K08/210.85 mi179, Ringwood Road, Eastbourne, East Sussex BN22 8UW4
£480K11/220.85 mi157, Ringwood Road, Eastbourne, East Sussex BN22 8UW4
£765K05/210.85 mi10a, Dittons Road, Eastbourne, East Sussex BN21 1DW4
£332K10/230.86 mi37, Grange Road, Eastbourne, East Sussex BN21 4HG4
£650K06/210.87 mi15, Upperton Road, Eastbourne, East Sussex BN21 1JR4
£680K09/230.87 mi3, South Lynn Drive, Eastbourne, East Sussex BN21 2JF4

Local Area Statistics

Population in BN21

24,783

Population in Eastbourne

107,152

Town centre distance

0.55 miles away

Nearest school

0.20 miles away

Nearest train station

0.53 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+13%

Sales demand

Buyer's market

Capital growth (5yrs)

+15%

Property History

Listed for £650,000

July 24, 2024

Floor Plans

Property image

Description

  • Fully licensed HMO +
  • Licensed for 10 people +
  • Eight bedrooms +
  • All bedrooms have en-suite shower rooms +
  • Close to the town centre +
  • Spacious kitchen +
  • Large lounge +
  • Well run temporary housing operation +

This HMO has a licence allowing 10 occupants and 8 households. The current owners use the property to provide temporary housing which generates around £90.000 rent per year.

The property is located close to Eastbourne town centre. Eastbourne has a population of more than 100,000 and contains a full range of shopping and leisure amenities. Recent census information shows the average age of residents decreasing as the town has attracted student, families and those commuting to London and Brighton. The town has good transport links with rail connections to London, Gatwick Airport, Brighton, Hastings and Ashford International. It is also served by the A22 road which gives access to the M25.

Lounge - 16'0" (4.88m) x 13'3" (4.04m)
A bright lounge with bay windows

Kitchen - 24'0" (7.32m) x 9'10" (3m)
Fully fitted kitchen with two hobs, two ovens and two sinks

Laundry Room - 10'0" (3.05m) x 6'6" (1.98m)
Laundry room with washer, dryer and access to rear yard

Bedroom 1 - 12'0" (3.66m) x 10'10" (3.3m)
Bedroom with en suite shower room

Bedroom 2 - 9'10" (3m) x 9'0" (2.74m)
Bedroom with en suite shower room

Bedroom 3 - 10'0" (3.05m) x 9'7" (2.92m)
Bedroom with en suite shower room

Bedroom 4 - 12'0" (3.66m) x 10'2" (3.1m)
Bedroom with en suite shower room

Bedroom 5 - 16'10" (5.13m) x 8'0" (2.44m)
Bedroom with en suite shower room

Bedroom 6 - 11'0" (3.35m) x 9'0" (2.74m)
Bedroom with en suite shower room

Bedroom 7 - 12'0" (3.66m) x 10'2" (3.1m)
Bedroom with en suite shower room

Bedroom 8 - 13'0" (3.96m) x 11'3" (3.43m)
Bedroom with en suite shower room

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Reid & Dean, Eastbourne

01323 921844

Next Steps?

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