What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
Profit pa£5,213
ROCE20%
Yield10%
Purchase £ £7,750
Property description
Strategy: Buy to Let
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.
Sourced reference: 299636918691546
Due diligence
No information supplied.
Disclaimer
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.
Key financials
Profit pa£5,213
ROCE20%
Yield10%
Purchase £ £7,750
Sales Agent
Sourced Agent
Lendwell Properties Limited
Smart support to move your deal forward
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What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network