6 Bed HMO, Northampton, NN2 8SY, £250,000

Obelisk Rise, Northampton, NN2 8SY - 3 views - a month ago

Auction
HMO
Planning
ROI: 15%
~186 m²
+3 photos

ValuationUndervalued

Sold Prices£300K - £1.8M
Sold Prices/m²£1.6K/m² - £3.9K/m²

 

 

Square Metres

~186 m²
Price/m²£1.3K/m²

Value Estimate

£341,600
BMV22%

Investment Opportunity

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£16,700

Total Cash In

£79,200

 

 

Cash Out

 

Room Rate

£555

Gross Rent

£3,330

Running Costs/mo

£2,122

Cashflow/mo

£1,208

Cashflow/yr

£14,496

ROI

18%

Gross Yield

16%

Local Sold Prices

12 sold prices from £300K to £1.8M, average is £650K. £1.6K/m² to £3.9K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£342.5K01/210.19 mi190, Obelisk Rise, Northampton, Northamptonshire NN2 8TX6
£1.6M03/230.53 miPoachers Gap, Vyse Road, Boughton, Northampton, West Northamptonshire NN2 8RR6
£870K06/210.85 miStone Brigg, Butchers Lane, Boughton, Northampton, Northamptonshire NN2 8SL6
£600K12/202.02 mi36, East Park Parade, Northampton, Northamptonshire NN1 4LB6
£1.8M02/212.16 miRed House, Welford Road, Chapel Brampton, Northampton, Northamptonshire NN6 8AG6
£700K04/212.23 mi431, Wellingborough Road, Northampton, Northamptonshire NN1 4EZ6
£600K09/232.31 mi417, Wellingborough Road, Northampton, West Northamptonshire NN1 4EY6
£775K04/212.59 mi3, Cotton Meadow, Northampton, West Northamptonshire NN5 5PP6
£300K11/202.64 mi101, Lower Thrift Street, Northampton, Northamptonshire NN1 5HP6
£775K06/212.92 miWykes Lodge East, Whites Lane, New Duston, Northampton, Northamptonshire NN5 6UW6
£495K09/232.93 mi1, Alfred Knight Close, Duston, Northampton, West Northamptonshire NN5 6FB6
£522K12/222.94 mi291, Billing Road East, Northampton, West Northamptonshire NN3 3LG6

Local Area Statistics

Population in NN2

36,861

Population in Northampton

281,924

Town centre distance

2.41 miles away

Nearest school

0.20 miles away

Nearest train station

2.67 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+87%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £250,000

March 28, 2025

Price changed to £260,000

March 16, 2025

Listed for £280,000

February 28, 2025

Floor Plans

Description

  • Sale by Modern Auction (T&Cs apply) +
  • Subject to an undisclosed Reserve Price +
  • Buyers fees apply +
  • CALLING ALL INVESTORS +
  • POTENTIAL HMO SUBJECT TO GAINING THE CORRECT PLANNING PERMISSION +
  • SIX BEDROOMS, TWO WITH AN EN-SUITE SHOWER ROOMS +
  • SEPARATE SHOWER ROOM +
  • OPEN PLAN KITCHEN/DINING ROOM +

SUMMARY
CALLING ALL INVESTORS - Offered with NO UPWARD CHAIN is this potential HMO subject to gaining the correct planning permission. The property offers an open plan kitchen/dining room, six bedrooms, two with en-suite and a separate shower room.

DESCRIPTION
CALLING ALL INVESTORS - Offered with NO UPWARD CHAIN is this potential HMO subject to gaining the correct planning permission. The property offers an open plan kitchen/dining room, six bedrooms, two with en-suite and a separate shower room.

Information has been correlated from spareroom.com to confirm that a double room in Northampton, with an en-suite rents for £550 - £600 PCM, and a double room with no en-suite rents for £450 - £550 PCM. It is recommended that any interested parties contacts a lettings agent specialising in room only lets, to confirm the information supplied is correct.

Auctioneer's Comments 
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer.

The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

Entrance Hall 

Communal Kitchen/ Dining Room 

Conservatory 

Bedroom 1 

Bedroom 2 

En-Suite Shower Room 

Bedroom 3 

En-Suite Shower Room 

First Floor Landing 

Bedroom 4 

Bedroom 5 

Bedroom 6 

Shower Room 

Outside 

Front & Rear Gardens 

Agents Note 
Information has been correlated from spareroom.com to confirm that a double room in Northampton, with an en-suite rents for £550 - £600 PCM, and a double room with no en-suite rents for £450 - £550 PCM. It is recommended that any interested parties contacts a lettings agent specialising in room only lets, to confirm the information supplied is correct.

Council Tax Band  
C

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, Kingsthorpe

01604 279731

Next Steps?

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