An off-market property sourced through an agent, agreed quickly. Originally a 2-bed house in extremely poor condition, located just steps from Teesside University which we knew would be ideal for a student HMO.
4 Bed HMO
Middlesbrough
Property Breakdown
Property Information
Refurbishment
Converted into a 4-bed all-ensuite HMO by reconfiguring space (turning a reception room and bathroom into bedrooms). The £55,000 refurbishment included a full back-to-brick overhaul meeting all HMO and build regulations.
Result
Now a fully compliant HMO generating £24,000 gross rental income per year, with £10,800 net profit. Managed as a complete hands-off investment.
Financial Breakdown
£55000
Purchase Price
£55000
Refurbishment
£4000
Additional Fees
£55000
Total Cash Investment
£120000
GDV (End Value)
£23760
Rent PA
£10880
Cashflow PA
£30000
Money Left in Deal
32%
Return On Investment
Project Portfolio
Take a look at some of our other completed projects.
