Gainsborough, DN21 2LW | Investment Property for Sale | VES-DN21-003

Opportunity to purchase a HMO property in Gainsborough generating £27,360 rent pa & gross yield of 13%

£210,000

HMO End of Terrace House

VES-DN21-003

INITIAL INVESTMENT

£63,000

Based on

deposit: £52,500

stamp duty: £8,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£27,360

GROSS YIELD

13.0%

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The property

TENANCY

Tenanted

TENURE

Freehold

6 bedrooms

3 bathrooms

0

1,604

Fully Furnished

Property information

  • Spread over 3 floors
  • Fully HMO licenced for 9 persons
  • Ground floor comprises:
    • 2 x bedrooms
    • Dining room
    • Utility room
    • Shared kitchen
    • 1 x shared bathrrom
    • Access to the rear garden via the kitchen
    • Access to the cellar via the hallway
  • First floor comprises:
    • 2 x bedrooms
    • Second shared kitchen
    • 2 x shared bathrooms
  • Second floor comprises:
    • 2 x bedrooms
  • EPC rating E
  • Council tax band A

Rental information

  • Room 1 - £410 pcm
  • Room 2 - £365 pcm
  • Room 3 - £365 pcm
  • Room 4 - £410 pcm
  • Room 5 - £365 pcm
  • Room 6 - £365 pcm
  • Total monthly rental income: £2,280
  • Total annual rental income: £27,360

Running costs

The vendor provided us with the following running costs of the property:

  • Gas & electric: £150 pcm
  • Council tax: £60 pcm
  • Virgin media (TV, broadband): £30 pcm
  • Water: £30 pcm
  • TV licence: £10 pcm
  • Cleaner: £25 pcm
  • Total cost pcm: £305
  • Total cost pa: £3,660

Location information

  • The property is located in south-west Gainsborough
  • Gainsborough town centre is less than 1 mile from the property and can easily be reached on foot
  • Gainsborough Central railway station is just under 1 mile from the property
  • Gainsborough Lea Road railway station is just 5 minutes away
  • There is a bus stop a short walk away with regular services into town
  • Easy access to the A631

Note

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

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

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Gainsborough, Lincolnshire

Gainsborough is a market town in Lincolnshire and lies on the east bank of the River Trent. The town is approximately 18 miles north-west of Lincoln, 16 miles south-west of Scunthorpe, 20 miles south-east of Doncaster and 39 miles east of Sheffield.

Gainsborough is also England’s furthers inland port with over 55 miles from the North Sea.

The town is located at the crossing point of the A631 and A156 which connect it from Sheffield to Louth, to Saxilby and the wider road network.

There are two railway stations in Gainsborough. The main station is Gainsborough Lea Road which is on the Doncaster to Lincoln Line as well as the Leeds to Lincoln Line. Gainsborough Central is on the Brigg branch of the Sheffield to Lincoln line. Both stations operate regular services.

Some of the local attractions include Gainsborough Old Hall, Gainsborough Heritage Centre, The Old Nick Police Museum, Gainsborough Model Railway, RAF Scampton Heritage Centre and RAF Wickenby Museum, to name a few.

For outdoor lovers, there are Mill Farm Garden, Owlet Wood, Scotton Common or the Riverside Walk. Less than an hour away there is the Lincolnshire Wolds, an Area of Outstanding Natural Beauty, which offers further opportunities for walking or cycling.

Gainsborough’s town centre offers all the favourite high street brands as well as independent retailers. Every Tuesday and Saturday a weekly market takes places offering a wide selection of produce from local traders including fruit & veg, home baked goods, clothing and other essentials. Every second Saturday of the month a special Farmers and Crafts Market takes place.

There are also some great places to eat and drink in Gainsborough with many of the eateries serving local produce where possible.

Education in Gainsborough is provided by several primary schools as well as Queen Elizabeth’s High School, one of the top state schools in England. There are also links to John Leggott Sixth Form College in Scunthorpe, North Lindsey College and Lincoln College.

Lea Road,

Gainsborough,

Lincolnshire,

England,

DN21 1LW

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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