Barnsley, S71 1EW | Investment Property for Sale | VES-S71-00

Opportunity to purchase a HMO terraced house in Barnsley generating £17,940 rent pa and a gross yield of 12%

£150,000

HMO Terraced House

VES-S71-00

INITIAL INVESTMENT

£67,800

GROSS RENT / YIELD

£17,940 / 12.0%

NET RENT / YIELD

£13,441 / 9.0%

ADD TO FAVOURITES

Above average yield

Through our expertise and research, we have found that this property is above the average of this location based on data from REalyse, PropertyData and Zoopla

The higher the yield the stronger the return on investment.

The property

TENANCY

Tenanted

TENURE

Freehold

4 bedrooms

1 bathroom

1 reception room

883

Fully Furnished

Property details

  • Bills included in the rent

  • Fully let 4-bedroom HMO:

    • Room 1 let since 14/01/2019 - rent £75 per week
    • Room 2 let since 02/02/2019 - rent £85 per week
    • Room 3 let since 14/01/2019 - rent £75 per week
    • Room 4 let since 02/02/2019 - rent £110 per week

Whilst the displayed financials below are market averages, these are the current running costs provided by the landlord:

Running costs:

  • Council tax: £120

  • Water bill: £40

  • Gas & electricity bill: £80

  • Internet: £20

  • Insurance: £20

  • Total pcm: £300

  • Total pa: £3,600

  • Property management, if required at 10%: £277 pcm or ££,324 pa

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Market Trends

Sales Trends

  • Prices in S71 have increased 22% over the last 5 years (-2% over the last 12 months) and are £115,000 which varies by property type (£68,000 for a 1-bed flat to £238,000 for a 5-bed detached property). On average, there have been 55 properties sold per month in the area in the last 12 months.

  • In comparison, prices in the wider Sheffield S postcode area are £143,000 (+2% over the last 12 months) and range between £101,000 for a 1-bed flat to £414,000 for a 5-bed detached property.

Rental Trends

  • Rents in S71 are now at £445 per month (+13% over the last 12 month). On average, there have been 22 properties listed for rent per month in the area in the last 12 months.

  • Given prices in the area, gross yield is currently 5.5% which is higher than the national average of 4.7% and higher than the wider Sheffield S postcode area of 5.2%.

  • This property is currently achieving a gross yield of 12% which 54% higher than the area.

Source: REalyse - 26/04/2019 Note: prices and rent are median and averaged over the last 12 months, unless stated. Data from property listings is taken from c. 20 different sites and agents.

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£17,940

Equivalent of £1,495 per calendar month (PCM).

GROSS RENTAL YIELD

12.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£13,441

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

9.0%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£4,499

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Barnsley, South Yorkshire

Barnsley is a large town in South Yorkshire situated halfway between Leeds and Sheffield accessible via junctions 36, 37 and 38 of the M1 motorway. The town center lies on the west bank of the Dearne Valley, offering stunning surroundings.

Barnsley is a characterful town in the heart of Yorkshire, offering a variety of entertainment opportunities such as The Parkway Cinema complex, rich history reflected in the historic buildings and events in the Cannon Hall and leisure and sports facilities.

Some of Barnsley’s big employers are Asos, global manufacturer Esco, Warwick Ward Ltd, XPO Logistics, Barnsley Council and many more.

Wansfell Terrace,

Barnsley,

South Yorkshire,

England,

S71 1EW

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