Kettering, NN16 9RL | Investment Property for Sale | VES-NN16-006

Opportunity to purchase a HMO in Kettering generating £24,820 rent pa & gross yield of 11.3%

Offers in excess of

£220,000

HMO End of Terrace House

VES-NN16-006

INITIAL INVESTMENT

£66,000

Based on

deposit: £55,000

stamp duty: £8,500

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£24,820

GROSS YIELD

11.3%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

5 bedrooms

3 bathrooms

1 reception room

1,302

Fully Furnished

Property information

  • Fully HMO licenced for 5 persons
  • Spread over 2 floors
  • Communal kitchen and dining room/lounge
  • Utility room on the ground floor and separate WC
  • 2 bedrooms have an ensuite bathroom
  • All other tenants share a shower room
  • The property comes with a small, low maintenance garden at the rear with a seating area
  • The garden extends to the rear containing fruit trees and a storage shed
  • EPC rating D
  • The property is managed by a third party
  • A new combi boiler was fitted in 2021

Rental information

  • Room 1 - £395 pcm
  • Room 2 - £390 pcm
  • Room 3 - £433.33 pcm
  • Room 4 - £400 pcm
  • Room 5 - £450 pcm
  • Total rent pcm: £2,068.33
  • Total rent pa: £24,819.96

Running costs

The vendor provided the following running costs for the property:

  • Council tax: £150 pcm
  • Gas & electric: £150 pcm
  • Water: £58.98 pcm
  • Virgin Media superfast broadband: £45.50 pcm
  • TV licence: £13.37 pcm
  • Cleaning: £60 pcm
  • Total cost pcm: £477.85
  • Total cost pa: £5,734.20

Location information

  • The property is located in the Cover Hill ward of Kettering
  • Kettering town centre is 0.8 miles from the property and can be reached in 15 minutes on foot
  • There is a bus stop a short walk from the property with regular services
  • Pleasure Park is just across the road whilst North Park is just under 10-minutes away
  • Kettering railway station is 1.4 miles from the property

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Kettering, Northamptonshire

Kettering is a town in the county of Northamptonshire in the East Midlands. It is situated on the west side of the River Ise, around 67 miles north of London, 27 miles northwest of Peterborough and 15 miles northeast of Northampton.

This area is serviced by Kettering railway station which lies on the Midland Main Line and is managed by East Midland Trains. East Midland Trains operates a half-hourly service to London St Pancras and hourly to Nottingham via Leicester or to Corby. During peak times one Nottingham service continues to Lincoln via Newark and one Corby service on to Melton Mowbray.

In town there is a range of retail options centred around Newland Street, where one can find the market on one side and the Newlands Shopping Centre on the other. Newlands Shopping Centre has a collection of around 45 stores and services including some of the national favourites. Along the high street leading up to this shopping centre are an array of restaurants, pubs and bars for all of one’s dining needs.

The economy of Kettering is based on service and distribution industries due to its central location in the country and its great transport links. Kettering’s unemployment rate is amongst the lowest in the country with 80% of its adults in full-time employment. A wide range of companies run their operations from Kettering, including Aryzta, Pegasus Software, Weetabix and Morrisons Distribution to name a few. Kettering Business Park is a recent commercial property development which houses many office buildings as well as large distribution warehouses, which in turn created thousands of jobs in the local economy.

This location could be ideal for a young family seeking local educational options for their children. Primary schools in town include St Peter’s School, Park Road School and St Thomas More Catholic School, all of which are co-educational and educate children to the age of 11. For those looking for secondary school education there is Bishop Stopford School and Kettering Science Academy, both schools educate from the age of 3 all the way to 18.

Charles Street,

Kettering,

Northamptonshire,

England,

NN16 9RL

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All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

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