4 Bed HMO, King's Lynn, PE30 5QH, £220,000

56 London Road, King's Lynn, Norfolk, PE30 5QH - 11 views - 2 months ago

Sold STC
HMO
ROI: 11%
105 m²
+15 photos

ValuationOvervalued

Sold Prices£110K - £515K
Sold Prices/m²£1.3K/m² - £2.9K/m²

 

 

Square Metres

105 m²
Price/m²£2.1K/m²

Value Estimate

£206,075

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£7,800

Total Cash In

£62,800

 

 

Cash Out

 

Room Rate

£546

Gross Rent

£2,184

Running Costs/mo

£1,597

Cashflow/mo

£587

Cashflow/yr

£7,047

ROI

11%

Gross Yield

12%

Local Sold Prices

24 sold prices from £110K to £515K, average is £242.5K. £1.3K/m² to £2.9K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£210K06/210.1 mi44, Windsor Road, King's Lynn, Norfolk PE30 5PL4
£460K06/230.16 mi46b, Goodwins Road, King's Lynn, Norfolk PE30 5QX4
£173.5K09/210.22 mi18, Sidney Street, King's Lynn, Norfolk PE30 5RF4
£173.5K09/210.22 mi18, Sidney Street, King's Lynn, Norfolk PE30 5RF4
£260K04/210.23 mi42, Extons Gardens, King's Lynn, Norfolk PE30 5PF4
£515K12/220.35 mi108, Tennyson Road, King's Lynn, Norfolk PE30 5PA4
£295K09/210.39 mi20, Nelson Street, King's Lynn, Norfolk PE30 5DY4
£295K09/210.39 mi20, Nelson Street, King's Lynn, Norfolk PE30 5DY4
£110K11/210.4 mi22, Kitchener Street, King's Lynn, Norfolk PE30 5BJ4
£250K09/230.44 mi20, Avenue Road, King's Lynn, Norfolk PE30 5NW4
£325K01/210.45 mi10, St Johns Terrace, King's Lynn, Norfolk PE30 1NW4
£262.5K04/210.48 mi22, Park Avenue, King's Lynn, Norfolk PE30 5NJ4
£200K12/200.52 mi24, Portland Street, King's Lynn, Norfolk PE30 1PB4
£168K11/200.67 mi12, Beloe Crescent, King's Lynn, Norfolk PE30 5LF4
£146.5K08/210.68 mi7, Albert Avenue, King's Lynn, Norfolk PE30 1EE4
£372K11/230.68 mi1, Samphire Place, West Lynn, King's Lynn, Norfolk PE34 3JE4
£235K05/210.71 mi63, Tennyson Avenue, King's Lynn, Norfolk PE30 2QG4
£332.5K10/230.78 mi4, St Peters Road, West Lynn, King's Lynn, Norfolk PE34 3LG4
£265K11/230.79 mi4, Cedar Way, West Lynn, King's Lynn, Norfolk PE34 3JY4
£345K10/230.82 mi109, Gaywood Road, King's Lynn, Norfolk PE30 2PU4
£178K04/230.82 mi102, Parkway, Gaywood, King's Lynn, Norfolk PE30 4QQ4
£205K09/210.94 mi4, Snowdrop Close, West Lynn, King's Lynn, Norfolk PE34 3NH4
£210K11/210.94 mi7, Snowdrop Close, West Lynn, King's Lynn, Norfolk PE34 3NH4
£233K10/220.96 mi1, Wallflower Lane, West Lynn, King's Lynn, Norfolk PE34 3NQ4

Local Area Statistics

Population in PE30

43,924

Population in King's Lynn

108,995

Town centre distance

0.97 miles away

Nearest school

0.20 miles away

Nearest train station

0.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+26%

Property History

Listed for £220,000

January 4, 2025

Sold for £123,000

2011

Sold for £120,000

2004

Sold for £24,000

1998

Floor Plans

Description

  • HMO (House of multiple occupation) +
  • Four Double Bedrooms +
  • Town Centre Location +
  • Modern Throughout +
  • Courtyard +
  • Gas Central Heating +

This spacious four bedroom property, currently a House in Multiple Occupation (HMO) presents a fantastic investment opportunity for landlords. Featuring generous room sizes and modern amenities this impressive four bedroom property is a prime example of a well-maintained period terraced house.

Located just a short walk from the town centre, the property benefits from easy access to local amenities and transport links making it a highly desirable location for tenants.

This well-presented HMO property offers comfortable and spacious living with a modern, fully fitted kitchen and separate utility room on the ground floor. The kitchen is fully equipped with appliances and ample cupboard space, providing plenty of storage and worktop areas. The utility room adds extra convenience, offering additional storage and space for laundry facilities. Perfectly designed for shared living, this property combines practicality with contemporary style, ensuring a comfortable and functional home for all residents.

This spacious HMO property offers comfortable and practical living for tenants, with a well-appointed main bathroom on the ground floor which serves three individuals. The bathroom features a shower over bath, providing both convenience and versatility. Also on the ground floor is bedroom one, all rooms in this accommodation are finished to a excellent standard. Property also benefits from a a private courtyard area, providing a outdoor space and features a convenient bike storage area.

Carpeted stairs lead you to the first floor, where you’ll find two further generously sized double bedrooms, each filled with natural light. The third floor features the forth and final bedroom, offering ample space and further benefits from its own en-suite with a bath making it an ideal retreat for any tenant.
With four well proportioned bedrooms offering generous space, each room is perfect for professional or student tenants.

The property has been well-maintained, with modern fixtures and fittings throughout, offering a turn-key solution for buyers.

Don’t miss out on securing this ready-to-go HMO in a prime location.

Contact us today to arrange a viewing.

Kitchen
4.27m x 3.54m
Wall and base units, cooker, fridge freezer x2, sink, wood effect flooring.

Utility
2.14m x 1.17m
Wood effect flooring, washing machine, cupboard space.

Bathroom
1.91x 1.65m
Tiled walls, wood effect flooring, radiator, low level cistern, sink basin, shower over bath.

Room 1
3.97m x 3.57m
Carpets, Radiator.

Room 2
3.58m x 3.50m
Carpets, radiator.

Room 3
5.08m x 3.57m
Carpets, Radiator

Room 4
4.80m x 3.70m
Carpets, radiator.
Ensuite
3.03m x 1.52m
Low level cistern, sink basin, bath, wood effect flooring.

EPC Rating: E
Council Tax Band B

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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