7 Bed HMO, Colchester, CO3 3BP, £500,000

St. Marys Fields, Colchester CO3 3BP - 1 views - 2 years ago

HMO
ROI: 7%
~217 m²
+13 photos

ValuationUndervalued

Sold Prices£240K - £820K
Sold Prices/m²£2.2K/m² - £6.1K/m²

 

 

Square Metres

~217 m²
Price/m²£2.3K/m²

Value Estimate

£610,000
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£125,000

Stamp Duty & Legal Fees

£38,700

Total Cash In

£163,700

 

 

Cash Out

 

Room Rate

£607

Gross Rent

£4,249

Running Costs/mo

£3,269

Cashflow/mo

£980

Cashflow/yr

£11,766

ROI

7%

Gross Yield

10%

Local Sold Prices

50 sold prices from £240K to £820K, average is £490K. £2.2K/m² to £6.1K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£470K03/210.03 mi1, Francis Kellerman Walk, Colchester, Essex CO3 3EJ4
£365K12/200.03 mi43, St Marys Fields, Colchester, Essex CO3 3BP4
£375K09/220.06 mi43, St Marys Fields, Colchester, Essex CO3 3BP4
£395K09/220.08 mi119, St Marys Fields, Colchester, Essex CO3 3DD4
£365K06/210.08 mi115, St Marys Fields, Colchester, Essex CO3 3DD4
£450K12/220.08 mi109, St Marys Fields, Colchester, Essex CO3 3DD4
£443K06/230.1 mi50, St Albans Road, Colchester, Essex CO3 3JQ4
£510K12/200.14 mi49, Oaks Drive, Colchester, Essex CO3 3PS4
£475K12/200.15 mi88, Manor Road, Colchester, Essex CO3 3LY4
£505K08/210.17 mi51, Oaks Drive, Colchester, Essex CO3 3PS4
£540K05/210.23 mi11, Hospital Road, Colchester, Essex CO3 3HJ4
£395K12/210.29 mi33, Maldon Road, Colchester, Essex CO3 3AQ4
£332K06/210.31 mi35, West Stockwell Street, Colchester, Essex CO1 1HR4
£465K09/210.39 mi1, Silvanus Close, Colchester, Essex CO3 3NN4
£750K05/210.4 mi38, Creffield Road, Colchester, Essex CO3 3HY4
£820K05/210.4 mi18, Beverley Road, Colchester, Essex CO3 3NG4
£765K12/200.4 mi2a, Beverley Road, Colchester, Essex CO3 3NG4
£490K01/230.41 mi6, Silvanus Close, Colchester, Essex CO3 3NN4
£490K05/210.44 mi9, Middle Mill Road, Colchester, Essex CO1 1XL4
£430K06/230.45 mi26, Morten Road, Colchester, Essex CO1 1SF4
£330K03/210.46 mi69, Lexden Road, Colchester, Essex CO3 3QE4
£745K02/210.5 mi81, Lexden Road, Colchester, Essex CO3 3QF4
£625K09/210.5 mi71, Lexden Road, Colchester, Essex CO3 3QF4
£680K12/200.5 mi11, The Avenue, Colchester, Essex CO3 3PA4
£490K04/230.5 mi13, The Avenue, Colchester, Essex CO3 3PA4
£750K12/200.5 mi2, Ashley Gardens, Colchester, Essex CO3 3QG4
£495K06/210.54 mi23, Errington Road, Colchester, Essex CO3 3EA4
£475K03/210.54 mi2, Errington Road, Colchester, Essex CO3 3EA4
£646.5K10/210.55 mi31, Victoria Road, Colchester, Essex CO3 3NT4
£530K11/220.56 mi70a, High Street, Colchester, Essex CO1 1UE4
£687K03/210.56 mi10, Ireton Road, Colchester, Essex CO3 3AT4
£535K05/230.56 mi14, Roddam Close, Colchester, Essex CO3 3UN4
£500K01/210.57 mi67, Endsleigh Court, Colchester, Essex CO3 3QS4
£350K02/210.58 mi18, Catchpool Road, Colchester, Essex CO1 1XN4
£520K11/210.59 mi38, Hamilton Road, Colchester, Essex CO3 3DZ4
£403K12/210.59 mi24a, Cowdray Avenue, Colchester, Essex CO1 1UT4
£300K02/210.6 mi24, Rowan Place, Colchester, Essex CO1 1AJ4
£364K01/210.6 mi26, Rowan Place, Colchester, Essex CO1 1AJ4
£520.5K01/210.6 mi48, Endsleigh Court, Colchester, Essex CO3 3QW4
£820K10/210.62 mi101, Lexden Road, Colchester, Essex CO3 3RB4
£410K03/210.62 mi10, Christ Church Court, Colchester, Essex CO3 3AU4
£395K07/230.63 mi12, Christ Church Court, Colchester, Essex CO3 3AU4
£475K02/230.65 mi74, Constantine Road, Colchester, Essex CO3 3DX4
£523K06/230.67 mi49, Roman Road, Colchester, Essex CO1 1UR4
£447.5K12/200.67 mi53, Roman Road, Colchester, Essex CO1 1UR4
£260K12/200.67 mi16, Wakefield Close, Colchester, Essex CO1 2SD4
£695K05/230.68 mi40, Cambridge Road, Colchester, Essex CO3 3NR4
£240K07/210.69 mi17, Magdalen Street, Colchester, Essex CO1 2LD4
£705K12/220.69 mi8, Mossfield Close, Colchester, Essex CO3 3RG4
£780K11/210.7 mi50, Priory Street, Colchester, Essex CO1 2QB4

Local Area Statistics

Population in CO3

28,486

Population in Colchester

214,734

Town centre distance

0.23 miles away

Nearest school

0.20 miles away

Nearest train station

0.61 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+38%

Sales demand

Balanced market

Capital growth (5yrs)

+9%

Property History

Price changed to £500,000

December 28, 2024

Listed for £550,000

October 9, 2023

Floor Plans

Description

  • Substantial three storey Town house +
  • Seven bedrooms +
  • Popular, quiet, peaceful residential setting +
  • Family bathroom, 3 x en-suite shower rooms and downstairs cloakroom +
  • Off-street parking +
  • Garden with rear access +
  • Currently let as an HMO +
  • Licenced, fully compliant and fully let +

A three-storey town house currently let as a licenced House of Multiple Occupancy. The property is compliant and fully let to make an excellent investment with immediate income. It would also suit a large or growing family. It comprises seven bedrooms, three of which have an en-suite shower room, family bathroom, downstairs cloakroom, kitchen/diner, utility and lounge. Further benefits include a garage, rear garden with rear access, double glazing, and central heating. Located within in an area of high demand.

Agent Details

Properly, London

020 3840 3405

Next Steps?

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

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