|Gross Rents (PCM)||£2,650|
|Estimated Net Profit (PCM)||£1,021|
Taking into consideration void periods, management and tenancy set-up costs, utilities including Council Tax and maintenance.
Sir Thomas White's Road
Coventry CV5 8DP
Sale completed: June 2020
This HMO Conversion in Coventry started life as a residential family home. It had four double bedrooms, 1 bathroom on the ground floor and a shower room on the first floor. The majority of the accommodation was dated and in need of real modernisation.
The plan was to turn the property into an HMO with five bedrooms and five bathrooms. The first floor shower room had been recently updated. As a result, the investor was happy to leave this one as it was. The rest of the property needed a complete overhaul. Certainly the floorplan needed to be reworked to accommodate five ensuite bedrooms meeting with HMO guidelines.
We achieve the best return on investment by working closely with investors. Completing similar projects in the past gives us the expertise to work towards achieving the best rental yield. The ultimate aim being to reduce void periods.
Conversion work was undertaken to turn this home into an HMO with five ensuite bedrooms. Work was carried out to a high standard with the help of a trusted local property maintenance company.
Are you interested in investing in the Coventry HMO market? Do you understand more about HMO conversion in Coventry? Then contact us today.
|Return on Investment Calculations|
|Initial Deposit (20%)||£38,000|
|Refurbishment (including HMO Licence)||£72,076|
|Refinance After Refurbishment|
|New Value (Estimated) Winter (2020)||£274,965|
|New Mortgage Lend (80% LTV)||£220,000|
|Initial Mortgage Lend (80% LTV)||£152,000|
|Money Left In Deal||£49,026|
|Net Annual Income||£12,246|
|Return on Investment||25%|