A typical 3-bedroom terraced house with one bathroom has been renovated to a 5-bedroom with 2-bathroom HMO.
Location: West Green, Crawley
Purchase Price: £310,000
Purchase deposit: £77,500 (25% of purchase price)
Stamp duty: £14,800
Solicitors & Survey: £2,000
Extension & Refurbishment Cost: £40,000
Total Investment: £134,000
Rental Income Per Annum: £37,200
Gross return on income: 27.7%
Net return on income: 14.6% (This figure is after all expenses paid including mortgage interest payment)
Value of property after refurbishment as an HMO: £365,000
