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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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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