Property Brief
Tenanted four-bed, mid-terrace house located on Cliff Road, Hornsea. The ground floor consists of an entrance hall, two reception rooms and kitchen/diner whilst the first floor comprises three large double bedrooms and a bathroom. There is a low-maintenance paved/stoned garden to the rear.

The property is listed approximately 15-20% below true market value due to the seller wanting a timely sale whilst keeping the current tenants in situ.

Condition Report
The property overall is in good condition with no obvious structural defects. The kitchen and bathroom are both in fair condition. The property would beneift from minimal cosmetic uplift however, no immedfiate works required.

Rental Information
Current rent: £675 pcm
Market rent: £795 pcm
Tenancy agreement: Assured shorthold tenancy
Tenancy start date: February 2021

Comparables
Within the last couple of years, a 4-bed property was listed for £209,950, selling for £211,500 and a 3-bed was listed for £199,950, selling for £198,950. Both mid terraces in slightly better condition but demonstrates room for significant capital appreciation.

Compliance
Electrical certificate (EICR): Test date December 2020
Gas safety certificate: Test date February 2025
EPC rating: D (potential B)
Council Tax Band: B

Figures
Estimated upfront costs below:

Deposit = £37,500
Stamp duty = £8,000
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,200
Ultralets' buyer fee = £2,700

Total = £49,895

Current yield is 5.4% (or 6.4% based on market rent).

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To speak to our in-house Mortgage Advisor, call the office on 01482 562562 and ask to speak to Jack Newton.