6 Bed HMO, Canterbury, CT2 7TW, £325,000

622 Downs Road, Canterbury, CT2 7TW - 7 months ago

HMO
ROI: 14%
~88 m²
+23 photos

ValuationOvervalued

Sold Prices£265K - £1.8M
Sold Prices/m²£2.3K/m² - £4.3K/m²

 

 

Square Metres

~87.55 m²
Price/m²£3.7K/m²

Value Estimate

£250,444

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£23,700

Total Cash In

£104,950

 

 

Cash Out

 

Room Rate

£607

Gross Rent

£3,642

Running Costs/mo

£2,448

Cashflow/mo

£1,194

Cashflow/yr

£14,323

ROI

14%

Gross Yield

13%

Local Sold Prices

17 sold prices from £265K to £1.8M, average is £455K. £2.3K/m² to £4.3K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£265K11/220.13 mi72, Downs Road, Canterbury, Kent CT2 7TN6
£297.5K10/210.21 mi32, Downs Road, Canterbury, Kent CT2 7AY6
£455K08/220.29 mi92, Headcorn Drive, Canterbury, Kent CT2 7TX6
£412K09/210.72 mi68, Salisbury Road, Canterbury, Kent CT2 7HH6
£555K07/230.77 mi37, St Stephens Road, Canterbury, Kent CT2 7JD6
£642K03/210.79 mi88, St Stephens Road, Canterbury, Kent CT2 7JF6
£610K01/231.01 mi49, Whitstable Road, Canterbury, Kent CT2 8DG6
£408K12/211.01 mi49, Whitstable Road, Canterbury, Kent CT2 8DG6
£339.9K12/201.08 mi23, Artillery Street, Canterbury, Kent CT1 1LJ6
£810K12/221.39 mi24, Lovell Road, Rough Common, Canterbury, Kent CT2 9DG6
£375K06/211.51 mi2, Ross Gardens, Rough Common, Canterbury, Kent CT2 9BY6
£1.0M09/211.55 miOld Park Farm, Old Park, Canterbury, Kent CT1 1TH6
£1.8M04/231.82 mi24, Fordwich Road, Sturry, Canterbury, Kent CT2 0BN6
£1.1M06/211.93 miChequers Barn, High Street, Fordwich, Canterbury, Kent CT2 0DX6
£315K05/211.95 mi25, Cowdrey Place, Canterbury, Kent CT1 3PD6
£420K11/201.99 mi69, Mount Road, Canterbury, Kent CT1 1YF6
£875K03/232.01 mi43, South Canterbury Road, Canterbury, Kent CT1 3LH6

Local Area Statistics

Population in ct2

31,022

Population in Canterbury

65,078

Town centre distance

0.80 miles away

Nearest school

0.40 miles away

Nearest train station

0.97 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+59%

Sales demand

Buyer's market

Capital growth (5yrs)

+12%

Property History

Price changed to £325,000

December 11, 2024

Listed for £365,000

September 27, 2024

Floor Plans

Description

Great HMO investment

A great investment opportunity to purchase this 6 bedroom Licensed HMO currently rented out for £2550 pcm inclusive of utility bills.. Annual income is £30,600 yielding 8.5% per annum. The property is currently let out on a single room basis until July 2025 and is managed by Day Management.

As a Buy to let there is no onward chain.

Ofcom broadband results:- Standard 18 Mbps, 1 Mbps
Council Tax Band: C (Canterbury City Council)

Identification checks
Should a purchaser(s) have an offer accepted on a property marketed by Sally Hatcher Estates Limited, they will need to undertake an identification check. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement. We use a specialist third party service to verify your identity. The cost of these checks is £60 inc. VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.

The information provided about this property does not constitute or form part of an offer or contract, nor may be it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures & fittings and, where the property has been extended/converted, planning/building regulation consents. All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose.

Kitchen - 5.227 x 2.652 (17'1" x 8'8") -

Living Room - 3.230 x 3.718 (10'7" x 12'2") -

Bedroom 2 - 3.338 x 1.996 (10'11" x 6'6") -

Bedroom 1 - 3.825 x 2.426 (12'6" x 7'11") -

Shower Room - 1.426 x 1.421 (4'8" x 4'7") -

Wc -

Bedroom 6 - 2.812 x 3.363 (9'2" x 11'0") -

Bedroom 5 - 2.846 x 2.552 (9'4" x 8'4") -

Bedroom 4 - 3.300 x 1.982 (10'9" x 6'6") -

Bedroom 3 - 2.897 x 2.454 (9'6" x 8'0") -

Family Bathroom - 5.195 (17'0") -

Agent Details

Sally Hatcher Estates Sales, Chartham Hatch

01227 538063

Next Steps?

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