Opportunity to purchase a HMO property in Mansfield generating £17,992 rent pa & gross yield of 10.6%
£170,000
HMO End of Terrace House
VES-NG18-002
INITIAL INVESTMENT
£51,000
Based on
deposit: £42,500
stamp duty: £6,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£17,992
GROSS YIELD
10.6%
The property
TENANCY
Tenanted
TENURE
Freehold
4 bedrooms
2 bathrooms
1 reception room
971
Fully Furnished
Property information
- Fully HMO licenced
- Spread over 2 floors
- 4 x double bedrooms
- 2 x shared bathrooms
- Shared reception room
- Shared kitchen
- Communal rear garden, accessed via the kitchen
- EPC rating D
- Council tax band A
Rental information
- Room 1 - £120 pwk
- Room 2 - £77 pwk
- Room 3 - £77 pwk
- Room 4 - £72 pwk
- Weekly rental income: £346
- Monthly rental income: £1,499.33
- Annual rental income: £17,992
Running costs
The vendor provided us with the following running costs of the property:
- Council tax: £116.83 pcm
- Gas & electricity: £182.42 pcm
- Water: £20.50 pcm
- TV/broadband: £41.08 pcm
- TV licence: £13.25 pcm
- Total cost pcm: £374.08
- Total cost pa: £4,489
Location information
- The property is about 1 mile from Mansfield town centre
- There are a number of local amenities just a short walk away, such as 2 big supermarkets, a cinema, cafe and restaurant
- There is also a bus just a minute from the property with regular services into the town centre
- Mansfield railway station is around 0.6 miles from the property and can easily be reached on foot
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
Floorplans
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 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.
Murray Street,
Mansfield,
Nottinghamshire,
England,
NG18 4AS
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