Rare 4-Bed Lincoln 5-Year Rent to Rent Opportunity For Rent

  • $2,995
  • 4 beds
  • 1 baths

Overview

House has previously been operated as a HMO and comes complete with:

  • Recently renovated new kitchen and bathroom
  • Fully furnished bedrooms with beds, chest of drawers and wardrobes in all bedrooms (descent/ good condition)
  • Fire doors to all bedrooms and kitchen
  • Mains connected, interlinked fire alarm
  • Thumb turn locks on front and back doors

The house simply needs painting and new carpet throughout to bring the house up to a great standard. A budget of approximately £2,000 should cover all required work. A quote of £1100 has already been obtained to carry out the paintwork.

The Landlord is a London based investor who wants a steady income of £785pcm from the property but doesn’t want the hassle of managing it. They are happy to sign a 5 year Rent to Rent deal and sign an extension upon good behaviour.

Popular Location

Located within the popular Brayford Wharf (LN5) area, with high demand for both student and professional house shares.

  • 8 Minute walk to Tesco Superstore
  • 7 Minute walk to Lincoln High Street
  • 13 Minute walk to Lincoln train station
  • 13 minute walk to St Marks Shopping centre
  • 15/20 minute walk to Lincoln University

Cashflow Calculations:

Income

  • Room 1: £90pw (£390pcm)
  • Room 2: £90pw (£390pcm)
  • Room 3: £85pw (£370pcm)
  • Room 4: £70pw (£300pcm)
  • Total = £1,450

**These are rates the rooms were previously being rented for. With the upgrade the total rent can be increased by upto £50.

Outgoings:

  • Council Tax: – £110pcm
  • Broadband: – £30pcm
  • TV license: £15pcm
  • Water: £55pcm
  • Gas & Elec: £105pcm
  • Total = £315

 

  • Rent to Landlord: £785 pcm

Net Cash Flow

Monthly: £350-400

Cash Flow Over 5 Years : £21,000-£24,000

Further opportunity to increase cash flow by renting to students. Total potential cash flow rising to £30,600

Price:
$2,995
Address:
St Andrews Street
Lincoln LN5 7UD
Bedrooms:
4
Bathrooms:
1
Terms:
For Rent
Property Type:
Home

Call 0191 369 2069 for more details

Property Location