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

Melrose Street, Hull, HU3 6ES - 6 views - a month ago

Sold STC
HMO
ROI: 17%
~93 m²
+6 photos

ValuationUndervalued

Sold Prices£57K - £185.5K
Sold Prices/m²£625/m² - £1.9K/m²

 

 

Square Metres

~93 m²
Price/m²£1.2K/m²

Value Estimate

£119,571

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£5,250

Total Cash In

£34,000

 

 

Cash Out

 

Room Rate

£438

Gross Rent

£1,752

Running Costs/mo

£1,141

Cashflow/mo

£611

Cashflow/yr

£7,335

ROI

22%

Gross Yield

18%

Local Sold Prices

50 sold prices from £57K to £185.5K, average is £110.5K. £625/m² to £1.9K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£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
£85K11/200.09 mi96, Plane Street, Hull, City Of Kingston Upon Hull HU3 6BX3
£87K11/200.09 mi569, Anlaby Road, Hull, City Of Kingston Upon Hull HU3 6SH3
£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
£90K12/200.15 mi38, St Georges Road, Hull, City Of Kingston Upon Hull HU3 6EJ3
£90K12/220.15 mi28, St Georges Road, Hull, City Of Kingston Upon Hull HU3 6EJ3
£77K12/200.16 mi116, Plane Street, Hull, City Of Kingston Upon Hull HU3 6BY3
£105K03/230.19 mi76, Greek Street, Hull, City Of Kingston Upon Hull HU3 6DE3
£163K03/230.2 mi60, Springfield Road, Hull, City Of Kingston Upon Hull HU3 6TH3
£118K11/200.21 mi110, Hawthorn Avenue, Hull, City Of Kingston Upon Hull HU3 5PY3
£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
£67K04/210.23 mi59, St Georges Road, Hull, City Of Kingston Upon Hull HU3 6EE3
£73.5K01/210.23 mi145, Alliance Avenue, Hull, Humberside HU3 6QU3
£118K06/230.23 mi131, Alliance Avenue, Hull, City Of Kingston Upon Hull HU3 6QU3
£82K11/200.24 mi96, Alliance Avenue, Hull, City Of Kingston Upon Hull HU3 6QX3
£58K11/200.24 mi49, Arthur Street, Hull, City Of Kingston Upon Hull HU3 6BJ3
£100K12/200.25 mi5, Woldcarr Road, Hull, City Of Kingston Upon Hull HU3 6TP3
£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
£97K03/210.27 mi138, De La Pole Avenue, Hull, City Of Kingston Upon Hull HU3 6RQ3
£133.5K03/210.28 mi14, Parkfield Drive, Hull, City Of Kingston Upon Hull HU3 6TB3
£120K03/210.28 mi18, 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
£102.5K11/200.29 mi3, Airmyn Avenue, Hull, City Of Kingston Upon Hull HU3 6UD3
£128K11/200.3 mi7, Brockton Close, Hull, City Of Kingston Upon Hull HU3 5QH3
£111K02/230.31 mi138, St Georges Road, Hull, City Of Kingston Upon Hull HU3 3QE3
£85K07/230.31 mi110, Somerset Street, Hull, City Of Kingston Upon Hull HU3 3QG3
£126K09/210.34 mi18, Kempton Road, Hull, City Of Kingston Upon Hull HU3 6UF3
£155K03/210.34 mi1, Callerton Street, Hull, City Of Kingston Upon Hull HU3 5BH3
£67K04/210.34 mi28, Glasgow Street, Hull, City Of Kingston Upon Hull HU3 3PR3
£136K07/230.35 mi48, Roslyn Road, Hull, City Of Kingston Upon Hull HU3 6XJ3
£110K01/210.36 mi52, Clairbrook Close, Hull, City Of Kingston Upon Hull HU3 3QQ3
£104K01/230.36 mi65, Roslyn Road, Hull, City Of Kingston Upon Hull HU3 6XQ3
£143K06/210.37 mi695, Anlaby Road, Hull, City Of Kingston Upon Hull HU3 6UL3
£127.5K08/210.37 mi687, Anlaby Road, Hull, City Of Kingston Upon Hull HU3 6UL3
£167K06/230.38 mi54, Woldcarr Road, Hull, City Of Kingston Upon Hull HU3 6TR3
£148K06/210.38 mi66, Woldcarr Road, Hull, City Of Kingston Upon Hull HU3 6TR3
£135K07/220.38 mi8, Littlebeck Close, Hull, City Of Kingston Upon Hull HU3 6NQ3
£95K02/230.38 mi3, Dorado Close, Hull, City Of Kingston Upon Hull HU3 3QR3
£60K07/230.4 mi136, Somerset Street, Hull, City Of Kingston Upon Hull HU3 3QH3
£128K03/210.4 mi67, Meadowbank Road, Hull, City Of Kingston Upon Hull HU3 6XL3
£132K09/220.41 mi11, Edinburgh Street, Hull, City Of Kingston Upon Hull HU3 5AP3
£96K05/230.43 mi68, Cardigan Road, Hull, City Of Kingston Upon Hull HU3 6XB3

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)

-3%

Sales demand

Seller's market

Capital growth (5yrs)

+11%

Property History

Price changed to £115,000

March 8, 2025

Listed for £135,000

February 17, 2025

Floor Plans

Description

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

Developed as 5-bedroom HMO, the house is currently configured with the 2 ground floor receptions in use as bedrooms and a communal living space adjacent to 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 the new owner will have to apply fro an HMO license to use it as a 5 bedoroom HMO. 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?

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

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