4 Bed HMO, Birmingham, B29 6EJ, £360,000

Heeley Road, B29 6EJ - 4 views - 6 months ago

Sold STC
HMO
Refurb/BRRR
~129 m²
+3 photos

ValuationUndervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£90,000

Stamp Duty & Legal Fees

£17,500

Refurb Costs

£51,196

Bridging Loan Interest

£9,450

Total Cash In

£169,896

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£432,171

Mortgage (After Refinance)

£324,128

Mortgage LTV

75%

Cash Released

£54,128

Cash Left In

£115,768

Equity

£108,043

Room Rate

£386

Gross Rent

£1,543

Running Costs/mo

£2,185

Cashflow/mo

£-642

Cashflow/yr

£-7,704

Gross Yield

5%













Property History

Listed for £360,000

September 26, 2024

Sold for £63,000

1999

Description

  • Investment +
  • HMO +
  • Development potential +
  • 4 bedrooms +

Discover this well-positioned 4-bedroom property, offering a fantastic investment opportunity in a highly sought-after area. Currently rented until 30th June 2025 and achieving an annual rental income of £15,104.57 (excluding bills),

this property presents an excellent chance to maximize returns with the right vision and updates.
The home features four spacious bedrooms, including a generously sized rear bedroom, and a well-appointed bathroom.

The existing layout provides plenty of opportunities for internal renovation and reconfiguration, allowing investors to elevate the property’s appeal and significantly boost rental income.
While right-of-access issues may affect the potential for rear extensions, the property still offers ample scope for creative internal modifications. Rear extensions may still be possible by moving the rear right to access.

The interior could be modernized to enhance living spaces, making it an ideal project for those looking to add value through strategic upgrades.

Situated in a prime location close to local amenities, transport links, and popular rental markets, this property is perfect for investors aiming to tap into high-demand rental markets. The current rental income already demonstrates strong returns, with even greater potential achievable through thoughtful renovations.

Key Features:
4 spacious bedrooms with a well-sized rear bedroom
Currently rented until 30th June 2025, generating an annual income of £18,512.00 excluding bills

Significant potential to renovate and reconfigure internally and externally, maximising rental income and value
Perfectly situated near local amenities, transport links, and key rental markets

This property is a fantastic project for investors eager to make the most of a high-potential investment in a prime location. Seize the opportunity to transform this house into a standout rental with increased returns!

Agent Details

PURPLE FROG ASSET MANAGEMENT LIMITED, Birmingham

020 3514 1592

Next Steps?

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

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