Potential 4-Bed HMO, Hull, HU3 6ES £115,000

Melrose Street, Hull, HU3 6ES - 10 views - 9 months ago
Sold STC
HMO
Planning
Inside Article 4
ROI: 20%
~111 m²
Property image

ValuationUndervalued

Sold Prices£57K - £201K
Sold Prices/m²£705/m² - £2.7K/m²

 

 

Square Metres

~110.71 m²
Price/m²£1K/m²

Value Estimate

£139,150
BMV21%

Investment Opportunity

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£6,950

Total Cash In

£35,700

 

 

Cash Out

 

Room Rate

£429

Gross Rent

£1,716

Running Costs/mo

£1,133

Cashflow/mo

£583

Cashflow/yr

£6,998

ROI

20%

Gross Yield

18%

Local Sold Prices

50 sold prices from £57K to £201K, average is £153.8K. £705/m² to £2.7K/m², average is £1.5K/m².

Price
Date
Distance
Address
Beds
 
£140K08/240.01 mi34, Melrose Street, Hull, City Of Kingston Upon Hull HU3 6ES3
£105K08/210.02 mi30, Melrose Street, Hull, City Of Kingston Upon Hull HU3 6ES3
£105K06/210.04 mi63, Glencoe Street, Hull, City Of Kingston Upon Hull HU3 6HR3
£110K01/230.06 mi40, Plane Street, Hull, City Of Kingston Upon Hull HU3 6BX3
£125K03/230.1 mi73, Melrose Street, Hull, City Of Kingston Upon Hull HU3 6ET3
£150K02/230.12 mi65, Hawthorn Avenue, Hull, City Of Kingston Upon Hull HU3 5PA3
£110K03/250.13 mi91, Melrose Street, Hull HU3 6ET3
£201K10/230.13 mi47, Clyde Street, Hull HU3 5QZ3
£201K10/230.13 mi47, Clyde Street, Hull HU3 5QZ3
£90K12/220.15 mi28, St Georges Road, Hull, City Of Kingston Upon Hull HU3 6EJ3
£105K11/240.15 mi42, St Georges Road, Hull HU3 6EJ3
£155K02/250.18 mi20, Springfield Road, Hull HU3 6TH3
£105K03/230.19 mi76, Greek Street, Hull, City Of Kingston Upon Hull HU3 6DE3
£144K08/250.19 mi6, Northfield Road, Hull HU3 6TL3
£163K03/230.2 mi60, Springfield Road, Hull, City Of Kingston Upon Hull HU3 6TH3
£150K01/230.22 mi14, Parkfield Drive, Hull, City Of Kingston Upon Hull HU3 6TB3
£133K07/210.22 mi52, Northfield Road, Hull, City Of Kingston Upon Hull HU3 6TL3
£118K06/230.23 mi131, Alliance Avenue, Hull, City Of Kingston Upon Hull HU3 6QU3
£152.5K02/250.23 mi50, Springfield Road, Hull HU3 6TH3
£163K03/230.25 mi60, Springfield Road, Hull HU3 6TH3
£163K03/230.25 mi60, Springfield Road, Hull HU3 6TH3
£70K01/230.25 mi9, Acland Street, Hull, City Of Kingston Upon Hull HU3 6QQ3
£174K02/230.26 mi73, Parkfield Drive, Hull, City Of Kingston Upon Hull HU3 6TF3
£185.5K04/230.26 mi77, Parkfield Drive, Hull, City Of Kingston Upon Hull HU3 6TF3
£165K03/230.26 mi71, Parkfield Drive, Hull, City Of Kingston Upon Hull HU3 6TF3
£165K07/250.27 mi15, Woldcarr Road, Hull HU3 6TP3
£180K06/240.28 mi36, Parkfield Drive, Hull, City Of Kingston Upon Hull HU3 6TB3
£130K06/230.28 mi33, Woldcarr Road, Hull, City Of Kingston Upon Hull HU3 6TP3
£57K12/220.28 mi35, Arthur Street, Hull, City Of Kingston Upon Hull HU3 6BH3
£169K09/210.29 mi17, Callerton Street, Hull HU3 5BH3
£169K09/210.29 mi17, Callerton Street, Hull HU3 5BH3
£117K03/250.29 mi128, De La Pole Avenue, Hull HU3 6RQ3
£162.5K04/240.29 mi7, Haltemprice Street, Hull HU3 5EJ3
£111K02/230.31 mi138, St Georges Road, Hull, City Of Kingston Upon Hull HU3 3QE3
£178K02/250.31 mi22, Westbrick Avenue, Hull HU3 5QJ3
£178K02/250.31 mi22, Westbrick Avenue, Hull HU3 5QJ3
£85K07/230.31 mi110, Somerset Street, Hull, City Of Kingston Upon Hull HU3 3QG3
£175K06/240.32 mi15, Beilby Street, Hull HU3 5BU3
£180K06/240.32 mi47, Chesterton Street, Hull HU3 5BJ3
£195K02/250.33 mi55, Westbrick Avenue, Hull HU3 5QJ3
£195K02/250.33 mi55, Westbrick Avenue, Hull HU3 5QJ3
£168K06/250.33 mi53, Chesterton Street, Hull HU3 5BJ3
£168K06/250.33 mi53, Chesterton Street, Hull HU3 5BJ3
£161K03/250.33 mi206, Hawthorn Avenue, Hull HU3 5PY3
£130K02/250.34 mi148, Alliance Avenue, Hull HU3 6QX3
£170K04/250.34 mi4, Hailsham Street, Hull HU3 5DE3
£170K04/250.34 mi4, Hailsham Street, Hull HU3 5DE3
£126K09/210.34 mi18, Kempton Road, Hull, City Of Kingston Upon Hull HU3 6UF3
£136K07/230.35 mi48, Roslyn Road, Hull, City Of Kingston Upon Hull HU3 6XJ3
£150K11/240.35 mi9, Newington Street, Hull HU3 5LE3

Local Area Statistics

Population in HU3

26,648

Population in Hull

313,622

Town centre distance

1.63 miles away

Nearest school

0.20 miles away

Nearest train station

1.39 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+24%

Sales demand

Seller's market

Capital growth (5yrs)

+6%

Property History

Price changed to £115,000

March 8, 2025

Listed for £135,000

February 17, 2025

Floor Plans

Property image

Description

  • Kitchen-Diner +
  • Full Double Glazing +
  • Oven/Hob +
  • Gas Central Heating +

Originally developed as 5-bedroom HMO, the house is configured with the 3 ground floor receptions and a modern kitchen with fitted appliances. At the end of the hallway (before the kitchen) is a cloakroom with a WC and basin. This room provides a home for the gas boiler. Through the kitchen is a rear lobby with an external door opening to the garden and a further room with a storage / utiltiy area. 

The first floor offers 3 double bedrooms and 2 separate shower rooms (both with WCs and basins). Recently refurbuished and presented in good condtion overall, the house is being offered for sale cheaper than many similar properties as it is being sold as a family home. A future owner would have to apply for planning permission and an HMO licence if the intention is to use it as a 5 bedoroom HMO in the future. Positioned off Anlaby Road, the house is within walking distance of the MKM stadium, the Hull Royal Infirmary and is close to lots of  amenities. Easy public transport links are available to the City Centre and the surrounding villages.

Construction materials used: Brick and block.

Water source: Direct mains water.

Electricity source: National Grid.

Sewerage arrangements: Standard UK domestic.

Heating Supply: Central heating (gas).

Agent Details

MRC Estate & Letting Agents, Hull

01482 422339

Next Steps?

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