Mansfield, NG17 3GG | Investment Property for Sale | VES-NG17-001

Opportunity to purchase a house in Sutton-in-Ashfield generating £9,460 rent pa and a gross yield of 8.2%

£115,000

HMO Semi-Detached House

VES-NG17-001

INITIAL INVESTMENT

£52,040

GROSS RENT / YIELD

£9,460 / 8.2%

NET RENT / YIELD

£7,087 / 6.2%

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

2 bathrooms

1 reception room

1,418

Unfurnished

The rent increases annually in August and is currently £788.30 per month. Please note that the rent is paid quarterly in advance.

Market Trends

Sales Trends

  • Prices in NG17 have increased 24.57% over the last 5 years (-1% over the last 12 months) and are £123K which varies by property type (£58k for a 1-bed flat to £242k for a 5-bed detached property).

  • On average, there have been 85 properties sold per month in the area in the last 12 months.

Rental Trends

  • Rents in NG17 are now at £487 per month (+1% over the last 12 month).

  • Given prices in the area, gross yield is currently 5.3% which is higher than the national average of 4.6%.

  • This property is currently achieving a gross yield of 8.2% which 35% higher than the area.

Tenancy

RENT

£9,460 p.a. / £788 pcm

TENANCY DEPOSIT

£0

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

over 3 years ago

TENANCY AGREEMENT ENDS

Periodic

Floorplans

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

£9,460

Equivalent of £788 per calendar month (PCM).

GROSS RENTAL YIELD

8.2%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£7,087

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

6.2%

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

FULLY MANAGED OPERATING COSTS

£2,372

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 Mansfield, Nottinghamshire

Mansfield is a market town in the county of Nottinghamshire in the East Midlands of England. This town is situated 12 miles north of Nottingham, 27 miles south of Sheffield and 32.4 miles north west of Lincoln.

This area is serviced by Mansfield railway station which is on the Robin Hood Line and is managed by East Midlands Trains. From this station there is a half-hourly service to Nottingham southbound and to Mansfield Woodhouse northbound which continues on to Workshop. There is also one daily service on Monday to Fridays from Mansfield Woodhouse direct to Norwich.

Mansfield still retains its market town history with its thriving market square that is at the heart of the commercial and retail centre. In the surrounding areas one can find museums, the Palace Theatre and a variety of restaurants, fast-food outlets, pubs, bars and nightclubs. The main shopping centre in town is the indoor Four Seasons, with over 50 retail units occupied by a selection of the nation’s favourites, phone shops and a large department store. The Rosemary Centre, which is a pedestrianised area just off the centre of town offers more retail options over its three outdoor retail parks and numerous supermarket options.

There are many big employers in Mansfield that make up some of the top companies in Nottinghamshire and are constantly recruiting people in the local area. Big employers such as Sports Direct, W&J Linney, Havelock Europa and Glenair UK all operate their businesses from locations in Mansfield.

This location could be ideal for a young family looking for schooling options for their children. A primary school in this area is Blidworth Oaks Primary School, which educates children from the ages of two to eleven. For those looking for educational institutions that cater to older children there is The Joseph Whitaker School which offers mixed-sex schooling from eleven to eighteen. Alternatively, there is an independent school called R.E.A.L that has limited spaces for children from the age of seven to nineteen.

High Street,

Stanton Hill,

Sutton-in-Ashfield,

Nottinghamshire,

England,

NG17 3GG

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