H08- New Hey Road, Rastrick

Currently Let: £495/pcm

New Hey Road, Rastrick

Property Information:

Purchased tenanted but requiring refurbishment when vacant.

Current figures:
Purchase Price (mortgaged): £73500
Monthly Rent: £495
Monthly costs (mortgage, insurance) £204
Monthly cash flow: £291
Deposit/ fees £21600
Current return on investment: £16.1%

Figures after refurbishment
Estimate spend: £14000
Estimated Fees: £1600
Total spend: £89100
Estimated end value £110,000

Money back from remortgage = £82500
Money left in deal: £6600

Monthly Rent Once refurbished : £595
Monthly costs (mortgage, management, insurance) £304
Monthly cash flow: £291

Return on investment: 52.9%

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