BTL Refurb Newcastle

High-Yield Value-Add Buy-to-Let – 10% Gross Yield | 20% ROCE | Cosmetic Refurbishment Required

Property Details

• 2-bedroom ground floor flat
• Terraced property
• Approximately 0.5 miles from Wallsend Metro Station
• Leasehold – 999-year lease from 1991
• Standard construction
• 2 bedrooms
• 1 bathroom
• 67 m² internal floor area
• EPC Rating: D
• Requires cosmetic refurbishment (new flooring, painting and decorating)
• Close to local amenities, schools, parks and transport links

Financials

• Target purchase price: £58,000
• Purchase costs: £7,750 (includes £3,000 sourcing fee, £1,500 legal fees, £350 insurance and £2,900 SDLT)
• Estimated refurbishment cost: £14,300
• Total investment required: £37,150
• Estimated rental income: £700 PCM (£8,400 PA)
• Estimated mortgage payment (75% LTV @ 5%): £266 PCM
• Estimated net cash flow: £434 PCM (£5,213 PA)
• Gross Yield: 10%
• NET Yield: 6%
• ROCE: 20%
• Gross Rent Mortgage Coverage: 264%
• Net Rent Mortgage Coverage: 164%
• Estimated capital left in the deal after refinancing: £25,983

For further details or to invest please contact.