5 Bed HMO, King's Lynn, PE30 5QH, £245,000

London Road, King's Lynn, Norfolk, PE30 5QH - 25 views - 2 months ago

Sold STC
HMO
ROI: 14%
~178 m²
+13 photos

ValuationUndervalued

Sold Prices£265K - £675K
Sold Prices/m²£1.3K/m² - £5.4K/m²

 

 

Square Metres

~178.28 m²
Price/m²£1.4K/m²

Value Estimate

£296,450
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£61,250

Stamp Duty & Legal Fees

£8,550

Total Cash In

£69,800

 

 

Cash Out

 

Room Rate

£546

Gross Rent

£2,730

Running Costs/mo

£1,888

Cashflow/mo

£842

Cashflow/yr

£10,107

ROI

14%

Gross Yield

13%

Local Sold Prices

29 sold prices from £265K to £675K, average is £395K. £1.3K/m² to £5.4K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£457.6K08/230.22 mi57, Goodwins Road, King's Lynn, Norfolk PE30 5PE5
£370K04/240.4 mi5, Avenue Road, King's Lynn, Norfolk PE30 5NN5
£300K08/230.41 mi92, Tennyson Road, King's Lynn, Norfolk PE30 5NG5
£600K11/230.54 mi3, Kings Staithe Square, King's Lynn, Norfolk PE30 1JE5
£283.5K11/210.64 mi11, Tennyson Avenue, King's Lynn, Norfolk PE30 2QG5
£365K06/210.89 mi3, Buttercup Lane, West Lynn, King's Lynn, Norfolk PE34 3LU5
£405K09/231.04 mi37, River Lane, Gaywood, King's Lynn, Norfolk PE30 4HD5
£385K12/221.21 mi71, Gayton Road, Gaywood, King's Lynn, Norfolk PE30 4EF5
£550K11/231.52 mi11, Baldwin Road, King's Lynn, Norfolk PE30 4AL5
£354K04/211.62 mi3, Cedar Row, King's Lynn, Norfolk PE30 3BA5
£515K05/211.65 mi94, Gayton Road, King's Lynn, Norfolk PE30 4ER5
£400K04/212.09 mi28, Back Lane, West Winch, King's Lynn, Norfolk PE33 0LF5
£355K12/222.19 mi101, Reffley Lane, King's Lynn, Norfolk PE30 3SR5
£360K05/212.2 mi33, Low Road, South Wootton, King's Lynn, Norfolk PE30 3NN5
£675K07/232.24 miMarsh House, Hall Lane, South Wootton, King's Lynn, Norfolk PE30 3LQ5
£425K11/202.27 mi4a, Elmhurst Drive, South Wootton, King's Lynn, Norfolk PE30 3LA5
£265K12/232.53 mi33, Park Hill, Middleton, King's Lynn, Norfolk PE32 1RJ5
£500K02/212.56 miHigh Orchard, Chequers Lane, North Runcton, King's Lynn, Norfolk PE33 0QN5
£335K04/212.62 mi15, Cholmondeley Way, West Winch, King's Lynn, Norfolk PE33 0SY5
£298K04/212.64 mi11, Wimpole Drive, South Wootton, King's Lynn, Norfolk PE30 3UH5
£425.4K12/202.66 miSchool House, The Green, North Runcton, King's Lynn, Norfolk PE33 0RB5
£395K12/202.68 mi54, Common Lane, North Runcton, King's Lynn, Norfolk PE33 0RF5
£357.5K12/212.77 mi86, Hall Lane, West Winch, King's Lynn, Norfolk PE33 0QF5
£375K01/212.77 mi17, Southfield Drive, West Winch, King's Lynn, Norfolk PE33 0PF5
£557.5K02/212.78 mi114, Grimston Road, South Wootton, King's Lynn, Norfolk PE30 3NS5
£470K01/232.79 mi16, Southfield Drive, West Winch, King's Lynn, Norfolk PE33 0PF5
£330K06/212.84 mi7, Pine Tree Chase, West Winch, King's Lynn, Norfolk PE33 0QQ5
£488K01/212.84 mi30, Station Road, Clenchwarton, King's Lynn, Norfolk PE34 4DG5
£530K10/222.9 mi6, Cavendish Close, Middleton, King's Lynn, Norfolk PE32 1YD5

Local Area Statistics

Population in PE30

43,924

Population in King's Lynn

108,995

Town centre distance

0.91 miles away

Nearest school

0.10 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+26%

Property History

Listed for £245,000

January 4, 2025

Floor Plans

Description

  • HMO (House of multiple occupation) +
  • Ideal Location Near Town Centre +
  • Modern Kitchen +
  • Modern Bathrooms +
  • Five Double Bedrooms +
  • Gas Central Heating +

This impressive five-bedroom property is a prime example of a well-maintained period terraced house, ideally located on the popular London Road in King's Lynn. Currently a House in Multiple Occupation (HMO), it offers a versatile living space boasting five bedrooms, three bathrooms, a living room, and a fully fitted kitchen.

The downstairs living area includes a comfortable and inviting lounge with space for relaxation. Bathroom with modern fittings, providing excellent facilities for shared living. A fully fitted kitchen, well-equipped offering ample storage and workspace. Bedroom one is located on the ground floor and property also benefits from a courtyard area.

Carpeted stairs lead you to the first floor, where you’ll find three generously sized double bedrooms, each filled with natural light, one of these rooms benefits from its own private lounge and an ensuite bathroom, providing added convenience and privacy, while a separate communal WC is also located on this level for easy access.

The third floor features the fifth and final bedroom, offering ample space and natural light, making it an ideal retreat for any tenant.

This occupied HMO offers a great opportunity for investors looking to expand their portfolio.

Conveniently situated within walking distance to the town centre and train station, this residence provides easy access to everything you need. Enjoy easy access to amenities, restaurants, schools, hospitals, and public transport, making it a popular choice for tenants.

Leisurely activities are also nearby and within walking distance; the cinema, theatre, parks, and recreation areas, or explore the local tourist attractions. With easy access to public transport, this residence offers the ideal combination of comfort, convenience, and connectivity.

Lounge
4m x 3.5m
Carpets, radiator.

Kitchen
3.7m x 5.3m
Wall and base units, sink and drain, oven with hob, washing machine and fridge freezer. Radiator, wood effect flooring.

Room 1
4m x 3m
Carpets, radiator.

Bathroom
2.1m x 2.4m
Shower cubicle, low level cistern, basin.

Room 2
4m x 3.5m
Carpets, Radiator

Room 3
4m x 3m
Carpets, Radiator.

Room 4
3.7m x 5.2m
Carpets, Radiator.
Lounge 3.7m x 5.2m
Carpets, Radiator.
Bathroom
Bath with shower over. low level cistern, basin

Room 5
4m x 2.7m
Carpets, Radiator

Council Tax Band C
EPC Rating E

Here's how we can assist you:

If you're looking to sell or let your property, we're pleased to offer a complimentary, no-obligation market appraisal. Additionally, we can connect you with a mortgage advisor for expert guidance. Furthermore, there's the possibility that we can obtain EPC, gas certificate, EICR, solicitor quote or a survey on your behalf. For more details, please reach out to us at / House Online for themselves and for the sellers or lessors of this property whose agents they are give notice that:

The particulars are set out as a general outline only for the guidance of intended buyers and do not constitute, nor constitute part of, an offer or contract.

All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending buyers or tenants should not rely on them as statements of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Measurements of doors, windows, rooms, and other items are approximate, and no responsibility is assumed for any errors, omissions, or misstatements. None of the appliances mentioned in the information have been tested, and therefore, we cannot guarantee their condition, functionality, or operational status.

No person in the employ of My House Online has any authority to make or give any representation or warranty whatever in relation to this property

It's important to note that My House Online Ltd is committed to adhering to the guidelines outlined in the EU's Second Money Laundering Directive, which was introduced before parliament at the conclusion of November 2003, with regulations taking effect from March 1, 2004. These regulations encompass offenses under the Terrorism Act 2000 (as amended by the anti-terrorism Crime and Security Act 2001) and the Proceeds of Crime Act 2002.

Agent Details

My House Online, King's Lynn

01555 708874

Next Steps?

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