This 2-bedroom mid-terraced property is an ideal Buy-to-Let (BTL) investment. Recent comparable sales on the street include No. 94 and No. 97, which achieved £88,999 and £89,999 in March and April 2024, respectively. The property is currently tenanted by professionals, with the rent reviewed to £575 pcm effective January 2025. The tenants have been in place for over 12 months, and a managing agent is already overseeing the property for hassle-free management.

It also features traditional build stone and slate roof, 3-piece white bathroom suite, and fitted kitchen. This is in a landlord licensing area. Whilst this means you have to pay for the license, it is also having the result of weeding out bad tenants and landlords which has seen a rapid improvement in the area and the values. This should only continue to be the case as they try to improve the wider Burnley area.

The financials:
▪ Purchase price: £65,000
▪ GDV: £80,000
▪ Sourcing fee: £3,000

Metrics below based on 80% LTV BTL mortgage at 6% interest and 10% mgmt fee:
▪ Monthly NET £257.50
▪ Annual profit: £3,090.00
▪ ROCE: 15%
▪ Gross yield: 11%
▪ Net yield: 5%

Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.