Stourbridge, DY8 4JW | Investment Property for Sale | VES-DY8-001

Opportunity to purchase a HMO property in Stourbridge generating £15,588 rent pa & gross yield of 8.7%

£180,000

HMO Terraced House

VES-DY8-001

INITIAL INVESTMENT

£54,000

Based on

deposit: £45,000

stamp duty: £6,500

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£15,588

GROSS YIELD

8.7%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

3 bedrooms

1 bathroom

1 reception room

1,092

Fully Furnished

Property information

  • HMO licence not required for 3 tenants
  • Spread over 3 floors
  • 3 bedrooms
  • Shared bathroom
  • Shared kitchen
  • Downstairs WC
  • Comes with a rear garden, accessed via the ground floor
  • Driveway and garage parking for 2 cars
  • EPC rating D
  • Council tax band B

Rental information

  • Room 1 - £453 pcm, paid weekly
  • Room 2 - £433 pcm, paid weekly
  • Room 3 - £413 pcm, paid weekly
  • Monthly rental income: £1,299
  • Annual rental income: £15,588

Running costs

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

  • Council tax: £113.39 pcm
  • Gas & electricity: £87.08 pcm
  • Water: £25.61 pcm
  • Broadband: £19 pcm
  • Garden: £8.75 pcm
  • TV licence: £13.25 pcm
  • Cleaner: £24 pcm
  • Total cost pcm: £291.08
  • Total cost pa: £3,492.96

Location information

  • The property is located in the Amblecote area of Stourbridge
  • The town centre is just over 1 mile from the property
  • There is a bus stop a few doors down from the property with regular services
  • Stourbridge Town railway station is 1.1 miles from the property

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 Stourbridge, West Midlands

Stourbridge is a market town in the West Midlands on the River Stour. It lies around 15 miles east of Birmingham, 6.5 miles south-west of Dudley, 20 miles south-west of Walsall and 11.5 miles of Wolverhampton.

There are three main roads that meet in Stourbridge connecting it to nearby larger towns and cities, the A451, the A458 and the A491.

Stourbridge has two railway stations, Stourbridge Junction and Stourbridge Town. Stourbridge Junction is the main station and lies on the Birmingham to Worcester via Kidderminster Line. West Midlands trains run to Birmingham Snow Hill via Smethwick Galton Bridge, to Kidderminster, Worcester Shrub Hill or Great Malvern. Chiltern Railways also provide services to and from London Marylebone via Birmingham Snow Hill. Trains from Stourbridge Town railway station serve the local area between Stourbridge Town and Stourbridge Junction.

Some of the local places of interest include Red House glass museum, Black Country Living museum, the Bonded Warehouse, Client Hills, Hagley Hall, Kinver Edge Rock Houses, the Ruskin glass centre and the Stambermill viaduct.

The local high street is home to a mix of national chains and independent retailers, cafes, restaurants and pubs. Just off the high street there is the Ryemarket Shopping Centre and at the end of the high street is the Crown Centre Shopping Mall. The Stourbridge farmers and craft market takes place every first and third Saturday in Clock Square and offers a variety of stalls selling local produce, wines, free range and organic foods, as well as arts, crafts, antiques and retro wares.

Stourbridge is known for glass making since the early 1600s and celebrates its history since 2004 through a bi-annual International Festival of Glass. The exhibition attracts visitors, collectors, galleries and museums from around the world.

Education in Stourbridge is provided by a number of primary and secondary schools, as well as King Edward VI College, Old Swinford Hospital School, Redhill School and Elmfield Rudolf Steiner School.

With its good road links Stourbridge is a commuter town for nearby cities.

Elgin Close,

Stourbridge,

West Midlands,

England,

DY8 4JW

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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.

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