Property Brief
High-yield investment opportunity with scope to increase both the property's value and achievable rent.

Tenanted two-bed, mid-terrace property located off Wellstead Street, HU3. The ground floor includes an open-plan living/dining room and kitchen, whilst the first floor comprises two bedrooms and a bathroom. There is a small yard to the rear.

Condition Report
The tenant is content with the current condition of the property; however, we would recommend the following work schedule if reletting:

•⁠ ⁠Install a new kitchen
•⁠ ⁠⁠Install a new bathroom
•⁠ ⁠⁠New flooring throughout
•⁠ ⁠⁠Painting/decorating throughout
•⁠ ⁠⁠Deep clean
•⁠ ⁠⁠New rear and internal doors

Rental Information
Current rent: £495 pcm
Market rent: £650 pcm (based on completing the aforementioned works schedule)
Tenancy info: Assured shorthold tenancy - tenanted for approx. 15 years.

Comparables
See examples of similar 2-bed properties listed/sold within the last 12 months:

• Listed for £75,000 in August 2025. Reasonable condition with no work required.
• Listed for £69,950 (unknown sold price). Partially refurbed. Dated bathroom and new flooring required.

Following the above works, we estimate the property to be worth in the region of £75,000+.

Compliance
Electrical certificate (EICR): TBC
Gas safety certificate: TBC
EPC rating: C (potential B)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £13,750
Stamp duty = £2,750
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,400
Ultralet's buyer fee = £1,800

Total = £20,195

Current yield of 10.8%.

Buyer Disclaimer - https://bit.ly/3CzncNu

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