3 bedroom terraced house for sale
Key information
Property description & features
- Tenure: Freehold
Introducing Faraday Street, a compelling investment property in TS1. Originally a 2-bedroom residence, this property has been converted into a 3-bedroom perfect for students.
Although currently occupied by residential tenants, it's in a prime location with a 5-minute walk to Teesside University.
The current achieved rent is £550 pcm. The potential achievable student rent per room, post-improvements would be £411pcm, or in the current condition £375pcm.
Your NET annual take-home, after deducting bills and management costs associated with a student property, would be £10,724 pa. This results in an impressive 15.8% return on investment at the asking price.
Please note that if you opt for a mortgage, there will be additional costs to consider, which have been factored into the figures provided. At Ashbrookes, we include a CAP in the bills at £20 per week per room, a detail already incorporated into the NET figures.
To arrange a viewing or gather more information before this property is snapped up, kindly contact us at[use Contact Agent Button] (option 1).
Measurements:
- Reception Room/Bedroom 10'5" x 9'9" (3.18m x 2.97m)
- Reception Room 12'8" x 12'6" (3.86m x 3.8m)
- Kitchen 9'11" x 6'10" (3.02m x 2.08m)
- Bathroom 6'11" x 6'4" (2.1m x 1.93m)
- Bedroom 12'4" x 10'6" (3.76m x 3.2m)
- Bedroom 12'4" x 9'7" (3.76m x 2.92m)
Accommodation & Amenities:
- Please note this is a 2 bedroom for sale but the current vendor has utilised it as a 3 bedroom for rent
- 15.8% yield at asking for students
- 9.7% yield at current achieved rent for residential
- 5 minute commute to Teesside University
- Modern kitchen and bathroom
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Property reference SDL240002. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Ashbrookes - Sunderland.
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Broadband availability and predicted speed: obtained from Ofcom on February 9, 2022
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Super-fast: Between 30 Mbit/s and 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on February 9, 2022
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area: obtained on June 6, 2019 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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