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Headline Figures
Asking price£200,000
Purchase price£190,000
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
Stamp Duty£5,700
Solicitors£1,250
Refurbishment (including HMO Licence)£72,076
Total Spend£117,026
Refinance After Refurbishment
New Value (Estimated) Winter (2020)£274,965
New Mortgage Lend (80% LTV)£220,000
Initial Mortgage Lend (80% LTV)£152,000
Equity Release£68,000
Money Left In Deal£49,026
Net Annual Income£12,246
Return on Investment25%