Tenanted HMO in Newcastle

This 6 bed HMO is based in Newcastle Upon Tyne, offers an impressive 22% ROCE and an 13% yield.

- Sourced are excited to market this HMO comprising of 6 fully let bedrooms, generating a monthly rental income of £2,890
- The whole property is in good condition, and the property is turnkey producing immediate cashflow
- The area commands a strong demand for working professionals and all tenants work and are long term tenants
- Newcastle upon Tyne is undergoing major transformation with several key regeneration and urban renewal projects reshaping the city center and surrounding districts, meaning that the strong demand and capital appreciation looks likely to rise, with Black Ridge Global predicting the city will see a rise of 23.9% by 2030

Financials:
- Purchase Price: £270,000
- Purchase Costs: £92,500
- Sourcing Fee: £5,400
- Monthly Rent: £2,890
- Annual Rent: £34,680
- Monthly Profit: £1,699.45
- Annual Profit: £20,393,40
- ROCE: 22%
- Gross Yield: 13%

All figures have been worked out factoring in a management fee for the HMO, with a full management service offered through our Sourced Living lettings agency, providing a fully hands-off service.

Sourced offer a comprehensive property wealth building package in one place;

- Sourced Investment Agents - Sourcing investment opportunities for you,
- Sourced Enterprise - Limited company and SPV formations with tax efficient portfolio structuring and accounting solution.
- Sourced Finance - Access specialist property lending and mortgages, created for investors.
- Sourced Lettings - Seamlessly integrate property management using our nationwide lettings management service.

For further information, get in touch.