Property Deal Specification

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Presentation transcript:

Property Deal Specification Location: Lochend Rd, Easterhouse G34 Description: Great opportunity to own this dis- counted 2 bedroom flat in the strong rental area of Easterhouse. The property has been freshly refur- bished: new bathroom, kitchen, double glazing, decor and combi boiler. This is a perfect buy-to-let investment due to the high rental yield and anticipated monthly cash-flow. Currently tenanted with working tenant at £400 pcm.

Key Points Market appraisal £47,000 Investor price £37,600 Discount £9,400 (20% BMV) Instant equity £10,600 Rent £400 (working tenant / unfurnished) Positive cash flow £206.25 Gross yield 12.7%

Purchase Costs Survey Details Deposit (on mortgage @ 75% LTV) £9,400 Sourcing fee (due upon completion) N/A as this property is being sold by my company Solicitor fees Approx £700 Reservation fee £500 Mortgage fees (depending on product/broker) TBA Cash Flow Illustration Loan @ 75% LTV £28,200 Monthly mortgage (int only @ 4.5%) £105.75 Rent appraisal £400 pcm Gross monthly cash flow (rented @ £400 pcm) £294.25 Net monthly cash flow (less mgmt £60, factor & insurance £28) £206.25 Gross rental yield 12.7% Property Location Survey Details Surveyed? Yes – mortgage valuation Surveyed by Speirs Gumley Date April 2012 Value £47,000 Click to see approximate map location

Property Spec Type Ex-local authority flat Entry Secure close door entry system Construction Standard Roof Pitched Bedrooms 2 Tenanted Yes, working tenant paying £400 pcm on unfurnished basis Heating Gas central heating (new boiler fitted) Windows Double glazed throughout Notes Balcony, nice close, tidy back yard Amenities Bus stop across road, nearby primary school, high school and nursery school

Interested in this deal? Rental Comparables 2 bedroom flat to rent £395pcm Dunphail Drive, Glasgow, G34 £425pcm Balcurvie Road, Glasgow, G34 Sales Comparables 2 bedroom apartment for sale Fixed Price £50,000 53 Balcurvie Road 2 bedroom flat for sale Offers in Region of £43,999 Balcurvie Road, Glasgow, G34 Disclaimer Mortgages are subject to status, product availability will vary at time of completion. Always consult a financial advisor. Please note that information in this report do not constitute regulated financial advice, which recommends a course of action based upon the specifics of your personal circumstances. Interested in this deal? Call John now on 0300 333 3333