What a bargain! A terraced townhouse located just a few metres from the centre of town, currently looks like a HMO investment but could be returned to a family home or re-let as it is for maximum return, take a look...........
It appears to have had a garage conversion into a bedroom with en-suite, hence the fourth bedroom located downstairs. If this was to be used again as a HMO rental property, I would paint through and tidy up some of the unfinished areas to make the best of what is on offer for your new tenants. As a family home, I would return one of the first floor bedrooms to a lounge, again tidy up the paintwork and possibly upgrade the flooring throughout.
At an extremely reasonable £205k I would really not hang about with this one, as whichever way you choose to go with it you will certainly make good money from this. As a single unit let to a family group, I would expect this to achieve around £1050 PCM, hence the 6.1% yield. However, if you were to keep renting out individual rooms, the rental income could well be around £1500 PCM or 8.8% yield - clearly there is more risk to you in taking this option, as there are more tenants to deal with, more chance for them to miss their rental payments, there will be extra wear & tear imposed on the property and of course the local HMO licencing needs to be factored into your costs.
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