Property Brief
SIGNIFICANT POTENTIAL FOR CAPITAL GROWTH!

£20,000 - £25,000 below market value - works needed 🛠️

Three-bedroom property located off Paisley Street, HU3, with long-standing tenants. The ground floor includes an entrance hallway, living/dining room, kitchen and bathroom whilst the first floor briefly comprises three bedrooms. There are low-maintenance gardens at both the front and rear of the property.

Condition Report
The kitchen, bathroom and overall decor are in fair condition. The chimney breat looks to be affected by damp and there are signs of water ingress in the kitchen and bathroom (single-storey extension). The bathroom ceiling has been affected by condensation / black mould.

Estimated cost for works: 
- £2,000 to resolve the rising damp around the chimney breast.
- £1,500 - £2,000 to resolve the penetrating damp in the kitchen/bathroom including cosmetic works.

Rental Information
Current rent: £460 pcm
Market rent: £575 pcm
Tenancy agreement: Assured shorthold tenancy
Tenancy start date: October 2008

Comparables
The 2 most recently sold 3-bed properties down South View sold for £91,000 and £85,000 respectively within the last 2 years.)

Compliance
Electrical certificate (EICR): Test date October 2020
Gas safety certificate: Test date March 2024
EPC rating: D (potential C)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £16,250
Stamp duty = £3,250
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,200
Ultralets fee = £1,800

Total = £22,995

Current yield is 8.5% (or 10.6% yield based on market rent).

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.