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5 bedroom town house for sale

Ringwood Close, Crawley, RH10

Under Offer £350,000

Property Description

Key features

  • Five Bedroom Investment
  • Licensed HMO
  • 1240 Square Feet
  • Fully Tenanted or Vacant Possession
  • 7 Minutes Drive from Three Bridges Train Station
  • 10 Minutes from Town Centre
  • 15 Minutes Drive from Gatwick Airport

Full description

Tenure: Freehold

Five Bedroom Investment | £30,000 Annual Income | Fully Licensed HMO (CBC) | 1240 Square Feet | Available Fully Tenanted OR Vacant Possession | Close to Town | Close to Station | Parking | Rear Garden | NO CHAIN |

A great investment for an existing portfolio or an opportunity to hit the ground running with your first. HMO’s (House of Multiple Occupancy) provide greater security againsttotal void periods.

With the interest rate cut to their lowest rate again, it reflects the theory of most credible economists that interest rates will be staying low for much longer than originally planned. If you have cash deposited in a bank account it’s likely to be eroded by inflation with such low interest rates on offer.

Buy to let mortgage rates are the lowest they have been for some time, rather than purchasing cash, wouldn’t it be wiser to earn money of somebody else's money too?

Below you’ll find out the rough figures to consider this investment. It’s still an inflation busting yield as a full cash purchase but with finance it has massive potential to make very large gains from a modest investment of just £91,250 on a 75% LTV Buy-to-let mortgage.

The property consists of...
1 x Double Bedroom @ £525
3 x Double Bedrooms @ £500
1 x Single Bedroom @ £410
Annual Income = £29,220
*Please note; these rental figures have not been revised in 18 months and could probably be increased.

Gross Yield (for comparison) = 8.2% based on a purchase price of £355,000 and income of £29,220 P.A.

We’re not here to provide the finance, just credible solutions. We can recommend brokers and financial advisers but they are not affiliated with Power Bespoke.

Net yields not including purchase costs and fees.

Guide Price £350,000 - £365,000

Parking Arrangements: Driveway to Front.
Vendors position: NO CHAIN
Council Tax Band: D
Property Built: Circa Mid Seventies
Potential to add value/extend (stpp): Possible although mid terrace.
Loft: Yes
Age of Boiler: Last 5 years
Tenure: Freehold
Garden Fence: Verbally agreed fence to left and back fence.
Garden Shed: None
Garden Direction: East


More information from this agent

Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
03 January 2017

Floorplans

Map & Street View

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