Hawkins Road, West Sussex

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A typical 3-bedroom terraced house with one bathroom has been extended and renovated to a 5-bedroom with 2-bathroom HMO.

Location: Tilgate, Crawley, West Sussex

Purchase Price: £300,000

Purchase deposit: £75,000 (25% of purchase price)
Stamp duty: £14,000
Solicitors & Survey: £2,000
Extension & Refurbishment Cost: £75,000

Total Investment: £166,000

Rental Income Per Annum: £33,000
Gross return on income: 19.8%
Net return on income: 12.2% (This figure is after all expenses paid including mortgage interest payment)

Value of property after refurbishment as an HMO: £385,000

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