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£3,600
ROCE53%
Yield8%
Purchase £ £23,000
Property description
Strategy: Buy to Let
This Lancashire property is available off market and direct-to-vendor BTL at a significant 27.5% BMV. With scope for an immediate rent increase to enhance yield.
The financials:
▪ Purchase price: £58,000
▪ GDV: £80,000
▪ Annual profit: £3,600
▪ ROCE: 53%
▪ Yield: 8%
▪ Sourcing fee: £5,000
▪ Refinance: 75% LTV
▪ Investor funds left In: £6,800
▪ Monthly profit: £300
Sourced reference: 586641958362486
Due diligence
Historical sold prices in Springfield Road over the last year were 36% up on the previous year and 24% up on the 2017 peak. This property is at the top end of Springfield Rd. Looking on Google Maps you can see that this is a larger terraced than most on the street.
Market rent in the area is £575-600 pcm.
There is a scheme of ongoing regeneration in Burnley, information relating to this via the link:
https://burnley.gov.uk/business/economic-regeneration-in-burnley/
Location
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£3,600
ROCE53%
Yield8%
Purchase £ £23,000
Sales Agent
Rick Kerfoot
SRK Property Ltd
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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