8 Bed HMO, Middlesbrough, TS1 2JH, £315,000

86 Borough Road, Middlesbrough, TS1 2JH - 22 views - 7 months ago

HMO
ROI: 10%
~207 m²
+7 photos

ValuationOvervalued

Sold Prices£66.5K - £185K
Sold Prices/m²£612/m² - £1.7K/m²

 

 

Square Metres

~207.10 m²
Price/m²£1.5K/m²

Value Estimate

£211,061

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£78,750

Stamp Duty & Legal Fees

£13,500

Total Cash In

£92,250

 

 

Cash Out

 

Room Rate

£399

Gross Rent

£3,192

Running Costs/mo

£2,485

Cashflow/mo

£707

Cashflow/yr

£8,483

ROI

9%

Gross Yield

12%

Local Sold Prices

21 sold prices from £66.5K to £185K, average is £122K. £612/m² to £1.7K/m², average is £1K/m².

PriceDateDistanceAddressBeds 
£185K06/230.04 mi91a, Borough Road, Middlesbrough TS1 3AA4
£88K09/230.29 mi17, Myrtle Street, Middlesbrough TS1 3EB4
£120K02/210.35 mi222, Borough Road, Middlesbrough TS1 2EQ4
£120K03/230.4 mi172, Marton Road, Middlesbrough TS1 2ED4
£140K06/210.5 mi31, Croydon Road, Middlesbrough TS1 3HQ4
£140K06/210.5 mi31, Croydon Road, Middlesbrough TS1 3HQ4
£110K03/210.56 mi41, Lothian Road, Middlesbrough TS4 2HS4
£66.5K02/210.6 mi18, Oxford Street, Middlesbrough TS1 4NN4
£85K01/230.64 mi33, Kensington Road, Middlesbrough TS5 6AJ4
£119K01/210.64 mi75, Kensington Road, Middlesbrough TS5 6AJ4
£164K11/200.65 mi5, Ceremony Wynd, Middlesbrough TS4 2WG4
£75K02/230.67 mi81, Costa Street, Middlesbrough TS1 4PJ4
£115K04/210.8 mi10, Saltwater Court, Middlesbrough TS4 2AQ4
£165K10/220.81 mi15, Roseberry Road, Middlesbrough TS4 2LH4
£122K08/210.84 mi7, Canterbury Grove, Middlesbrough TS5 6NS4
£180K06/210.84 mi16, Maddren Way, Middlesbrough TS5 5BB4
£170K05/240.84 mi2, Maddren Way, Middlesbrough TS5 5BB4
£160K07/210.84 mi15, Maddren Way, Middlesbrough TS5 5BB4
£110K05/230.85 mi75, Westbourne Grove, North Ormesby, Middlesbrough TS3 6EE4
£145K11/210.85 mi25, Canterbury Grove, Middlesbrough TS5 6NS4
£130K12/230.88 mi44, Clough Close, Middlesbrough TS5 5DW4

Local Area Statistics

Population in TS1

16,984

Population in Middlesbrough

189,245

Town centre distance

2.32 miles away

Nearest school

0.30 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+8%

Sales demand

Seller's market

Capital growth (5yrs)

+32%

Property History

Price changed to £315,000

January 23, 2025

Price changed to £310,000

December 31, 2024

Price changed to £300,000

December 18, 2024

Listed for £310,000

September 3, 2024

Sold for £170,000

2010

Sold for £150,000

2006

Floor Plans

Description

  • HUGE INVESTMENT OPPORTUNITY! +
  • OPPOSITE THE UNIVERSITY +
  • FRESHLY PAINTED THROUGHOUT +
  • INSTANT INCOME AVAILABLE +
  • POTENTIAL TO CONVERT ENSUITES IN 5 ROOMS +
  • HIGH GLOSS KITCHEN +
  • SOUGHT AFTER TS1 LOCATION +

Progression Property are delighted to welcome on to the market a neatly presented 8 bedroom student HMO on the doorstep of the university!

Located in the heart of the city centre and opposite is the view of the university, this is an investors dream and cannot get better in terms of location and a steady stream of rental income as this is collecting a comfortable £38,328 this equates to £3,194 a month with bills included.

The property is in very good condition throughout and has the capability of inputting 5 ensuite rooms if the new owner wished to do so. Currently room 1, 2 and 6 have ensuites respectively. On the ground floor, you are welcomed to a very spacious hallway with rooms 1 and 2 located there as well as a kitchen which is of a very high standard finished off in high gloss units. Located at the end of the kitchen is a utility room which has an extra WC in the corner.

On the first floor, again painted throughout and a fresh look to the property are rooms 3,4,5 and 6. This landing also has two shower rooms and two WC's which again have been re-done to a good standard.

The second floor of the property compromises of room 7 and 8.

To enquire on this property, please call on .

Agent Details

Progression Property, Middlesbrough

01642 056899

Next Steps?

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