Property Brief
Tenanted three-bed, mid-terrace house on Melrose Street, off Anlaby Road - HU3. The ground floor consists of an entrance hall, open-plan living/dining room, kitchen and bathroom, whilst the first floor comprises three well-proportioned bedrooms. There is a small low-maintenance, courtyard-style garden to the rear.

Condition Report
The property appears to be structurally sound with no obvious, visible defects. Both the bathroom and kitchen are in fair condition, as is the decor throughout. Fully double-glazed apart from one window in the dining room. No immediate works required.

Rental Information
Current rent: £650 pcm
Market rent: £725 pcm
Tenancy agreement: Assured shorthold tenancy

Tenants have occupied the property for approx. 8 years and are happy to remain in the property.

Comparables
Below are the 3 most recent examples (within the last 2 years) of 3-bed properties listed and selling for between £125,000 and £130,000. Each comparable appeared to be in good condition.

Compliance
Electrical certificate (EICR): Test date April 2021
Gas safety certificate: Test date November 2024
EPC rating: D (potential B)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £26,250
Stamp duty = £5,250
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,200
Ultralets fee = £1,890

Total = £35,085

Current yield is 7.4% (or 8.3% 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.