Case Study

We sourced, refurbed, and now manage this desperately run down and dilapidated 6 bedroomed terrace house located central just yards from the Ripon Cathedral.

Sourced, refurbed, and now let by us

Net annual income: £20,940

Return on investment: 17%

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Dony

Project Summary

This 6 bed terrace property was already functioning as a HMO, but it had suffered from years of underinvestment and had become very difficult to let. Therefore, there was a great opportunity to add value and increase rental yields.

After sourcing the property for our client, we managed the refurbishment, keeping the room layout of the property but adding en-suites into some of the rooms. Finished to a high standard ensuring strong rental demand. We now manage the property for our client.

Financials

Net Annual Income

£20,940

ROI

16.9%

ROI (After Refinance)

67.3%

Purchase & Refurb

Purchase Price + costs: £253,120

Refurbish Costs: £90,000

All money invested: £343,120

Mortgage

Mortgage 75%: £190,000

Money invested: £153,120

Money left in

Revaluation: £390,000

Money left in £50,620

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