Recent Property Deal
This two-bedroom semi-detached property was sourced off-market for a client who wanted a single-let property that would produce a 6%+ ROI.
Project Summary
Bought directly from the vendor using our network of contacts. The location was key to our purchase with the property located in an area renowned for excellent schools and located near the main transport links for both Bradford and Leeds.
A semi-detached property that has a separate garage and gardens front and rear. The street is a private cul-de-sac and we know would have high rental demand. Refurbishment needed was kitchen, bathroom and decorating throughout.
Currently rented to a young couple with their first child which bodes well for a long term rental.
Financials
Cash Invested
£53,630
Purchase price: £121,000
Mortgage LTV: 75.00%
Mortgage: £90,750
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Deposit: £30,250
Stamp duty: £3,630
Refurb costs: £11,500
Additional costs: £7,500
Legals: £750
Total: £53,630
Net Annual Income
£4,176
Gross monthly rental income: £650
Monthly management fee: £65
Monthly insurance: £10.00
Monthly mortgage @3%: £227
Monthly net profit: £348
Annual Return on Investment
8%
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