3-4 Bedrooms
92m² / 990f² Build Area
The Haven HMO
Selby, YO8 8BJ
£211,000
*Offers over
Here is a pleasant three-storey townhouse comprising 3 bedrooms, a kitchen diner, upstairs and downstairs bathrooms, a utility room, and an office space. It is located in a quiet cul-de-sac whilst being in the heart of Selby, near all necessary amenities.
The floorplan showcases a conceptual design to turn this residential townhouse into a 4-bed HMO. The main proposed change is transforming the garage into an en-suite bedroom. Additionally, other HMO compliance requirements must be adhered to, like the installation of fire doors, closers, additional heat and smoke alarms, fire extinguishers, and others.
This is a great investment and development opportunity for experienced property investors. The potential returns, increased property value, and recommended consideration of solar panels to eliminate utility expenses make it a unique opportunity that beats average returns.
Property Investor Details
Predicted Expense (annual)
Council tax
£2,149
Utilities
£3,600
Management fees Housemates
£1,628
Net yield remortgaged
22.45%
Mortgage repayment*
£7,913
5 year ROI remortgaged
222.77%
Net yield
9.36%
Statistics
Gross yield
12.86%
Income
Potential rental income
£27,133
*Calculated at 25% LTV with a 5% interest only mortgage. This value can vary subject to respective mortgage lenders.
Calculation Brochure and Property Management Solutions
Download the brochure for this property to see how we calculate the figures displayed above and get additional insight on how to maximise returns. Check out our buy-to-let management solutions as well for comprehensive and investor-friendly letting agent services.