HMO-of-the-week

HMO Project Summary

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HMO Purchase

Purchase Price
£125000
Purchase Costs
£22088
Purchase Method
Cash
Loan to Value
0%
Loan
0
Purchase Capital Employed
£147088
Purchase Date
June 2018
Acquisition Source
Estate Agent

HMO Planning

Planning Use Class Before
C3
Planning Period
2 Months
Planning Acceptance Date
-

HMO Planning Consultant: N/A

HMO Licensing

Licensed # Units
6
Licensed # Occupants
6

HMO Licensing Consultant:N/A

HMO Refurbishment

Refurbishment Time Frame
6 Months
2 x Bathrooms
£10000
Kitchens
£7000
Redecorate
£2000
Rubbish Removal
£1000
Furniture
£5000
Electrics
£8000
Plumbing
£7000
Loft Conversion
£17877
Rear Extension
£15000
Flooring
£3000
Total Refurb Cost
£67877

Main Building Contractor: COMSERVE CONTRACTING

Floor Plans

HMO Architect: N/A

Rental Schedule

Double Ensuite
£475
Double Ensuite
£450
Double Ensuite
£425
Double Ensuite
£425
Double Ensuite
£400
Double Ensuite
£375
Total Gross Rental
£2550

Lettings & Management

Pegasus Property Lettings.
Stoke-on-Trent

Finished Project Cashflow Summary

Gross Rent
£2550
£315
£339.15
£127.50
Voids
£127.50
Net Rent
£1640.85
Net Cashflow
£1036.85

Financial Summary

Total Costs
£214965
Gross Dev Value
£225,000
Value Increase
£10035
ReMortgage LTV
75%
£168750
Capital Left In
£56250
Gross Yield
13.60%
Gross Profit
£1036.85
Net Yield
8.75%
Annual Gross Profit
£12442.2
ROCE
22.12%
Occupancy to Break Even


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