Property Brief
Well-presented two-bedroom mid-terrace house on Wilberforce Villas, a terrace just off Rosemead Street, Hull.

The ground floor comprises an entrance hallway, an open-plan living and dining room, kitchen and bathroom. On the first floor are two good-sized double bedrooms.

Condition Report
The property is in good condition internally however, a previous inspection indicated there may be some works required on the roof. Ultralets have quoted to replace the roof to the cost of £6,400. This is a worst-case scenario.

Rosmead Street and adjoining terraces have seen an average of £12,000 per property spent by the council on new boundaries, garden treatment, rainwater goods, minor repairs, redecoration and communal footpaths as part of a frontage regeneration scheme.

The area has also benefited from part of a £23 million investment to create a permeable road to help manage surface water and increase flood resilience.

Rental Information
Current rent: £400 pcm
Market rent: £525 pcm
Tenancy agreement: Assured shorthold tenancy
Tenancy start date: December 2011

Comparables
The most recently sold 2-bed property down Wilberforce Villas was listed for £80,000 and sold in January 2023 for £74,500. Market comparables give the property a market value of £70,000.

Compliance
Electrical certificate (EICR): Test date March 2023
Gas safety certificate: Test date July 2024
EPC rating: D (potential C)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £14,000
Stamp duty = £1,680
Broker fee (Est.) = £500
Solicitor fee (Est.) = £1,200
Ultralets fee = £1,800

Total = £19,180

Current yield is 8.6% (or 10.1% based on market rent and accounting for roof works)

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