• Hull 31% BMV Investment Property with 9% Yield - My Property Sourcer

    Hull 31% BMV Investment Property with 9% Yield

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    Hull 31% BMV Investment Property with 9% Yield 2018-11-07T17:15:44+00:00

    Project Description

    31% BMV Terraced property with 9% Yield, Cornwall Gardens, Hull HU3 3AU

    Gross Income £5100 Per Annum
    £3000 Sourcing Fee

    The property is in good general condition but does require some carpeting and an internal door cost £1k.

    2 bed terraced house – Bread and Butter Buy To Let in a great area.

    Investment property Hull

    For a short period of time we have managed to secure a great BMV property with a tenant already in place paying £425 per month.

    We have a relationship with an agent in the area that could manage the property on an on-going basis making it a hands free set and forget investment.

    It’s also in an area that has benefited from a recent council upgrade scheme and because of this has had new facias, guttering and a new brick wall with a gate courtesy of the council!

    The internals are in good order.


    Buy the property and re-finance after 6 months to recover all of your money out of the deal, then sit back and enjoy the profits.


    The property currently has tenants in it that are paying £425 PCM the tenants would look to stay in the property.


    The property is in a great location just a few minutes walk from the Hull and East Yorkshire Hospitals and the Kcom Stadium, a short walk in the other direction gets you to the docks and waterfront.


    There are a lack of local comparables of similar properties, however the one below which is almost identical and in a similar street a couple of streets away recently sold for £57k

    The agent we have spoken to has confirmed the property would be worth up to £60k, we would suggest putting a mortgage valuation in at £60k.


    • Mortgage @ 5% = £125

    • Management @ 10% + Vat (Optional) = £42.50 pcm

    NET CASHFLOW (Managed) = £362 pcm = £4,344 PA

    Capital Required to get into deal

    • Purchase Price = £40,000

    • Deposit @ 25% = £10,000

    • Stamp Duty = £1,200

    • Legals = £1,000

    • Sourcing Fee = £3,000

    This property was reserved in 2 hours, to avoid disappointment join our priority investor list.


    Project Details