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A two-bedroom terraced house acquired and taken through a full refurbishment, including complete replumb and rewire, new heating system, new kitchen and bathroom, reconfigured layout to add a third bedroom, and newly created parking.
The conversion from two bedrooms to three materially increased both rental income and capital value. The property is retained as a buy-to-let with current equity of £76,000 against a total cost of £113,944.10.
Purchase Price: £68,000
Professional Fees: £3,337.40
Refurbishment: £42,606.70
Total Cost: £110,606.70
Total Cost Including Professional Fees: £113,944.10
Finance Costs: N/A
GDV (at completion / current): £140,000 / £170,000
Rent (at completion / current): £800pcm / £1,000pcm
Annual Rent at Completion: £9,600
Mortgage: £467.26pcm
Yield (at completion / current): 6.86% / 7.06%
ROI (at completion / current): 26.57% / 53.7%
ROI on Annual Rental Income: 8.68%
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