Property Brief
Vacant three-bed terrace house located on Welwyn Park Avenue, HU6. The ground floor comprises an entrance hall, living room, kitchen and utility room, whilst the first floor consists of three bedrooms and a bathroom.

There is a low-maintenance garden to the front and a larger grassed garden to the rear with potential for parking.

Condition Report
The property appears to be structurally sound with no obvious, visible defects. Below is a brief schedule of cosmetic works we would suggest before reletting (with estimated costs):

• Carpeting/vinyl throughout - £3,000
• Decorating throughout - £3,500
• Clean throughout - £300
• Gardening - £300

Estimated total = £7,100

Rental Information
Market rent: £775 pcm (based on completing the aforementioned works schedule)

Comparables
See examples of similar 3-bed end-terraces listed/sold within the last 12 months:

• On a neighbouring street in good condition. Listed for £150,000 and selling for £155,000.
• On the same street, also in good condition. Listed and sold for £140,000.

After carrying out works required, we estimate the property to be worth £140,000 - £155,000

Compliance
Electrical certificate (EICR): Test date October 2024
Gas safety certificate: Test date April 2025
EPC rating: D (potential B)
Council Tax Band: B

Figures
Estimated upfront costs below:

Deposit = £27,500
Stamp duty = £5,500
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,400
Ultralet's buyer fee = £1,980
Works schedule (Est.) = £7,100

Total = £43,975

Offering a yield of 8.5% (or 7.9% when accounting for works).

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.