Terraced house for sale in Faraday Street, Middlesbrough, North Yorkshire TS1

Investment opportunity in TS1: 2-bedroom property converted into A 3-bedroom student house

Introducing Faraday Street, a compelling investment property in TS1. Originally a 2-bedroom residence, this property has been converted into a 3-bedroom perfect for students.

Although currently occupied by residential tenants, it's in a prime location with a 5-minute walk to Teesside University.

The current achieved rent is £550 pcm. The potential achievable student rent per room, post-improvements would be £411pcm, or in the current condition £375pcm.

Your net annual take-home, after deducting bills and management costs associated with a student property, would be £10,724 pa. This results in an impressive 15.8% return on investment at the asking price.

Please note that if you opt for a mortgage, there will be additional costs to consider, which have been factored into the figures provided. At Ashbrookes, we include a cap in the bills at £20 per week per room, a detail already incorporated into the net figures.

To arrange a viewing or gather more information before this property is snapped up, kindly contact us at option 1).

Measurements:
- Reception Room/Bedroom 10'5" x 9'9" (3.18m x 2.97m)
- Reception Room 12'8" x 12'6" (3.86m x 3.8m)
- Kitchen 9'11" x 6'10" (3.02m x 2.08m)
- Bathroom 6'11" x 6'4" (2.1m x 1.93m)
- Bedroom 12'4" x 10'6" (3.76m x 3.2m)
- Bedroom 12'4" x 9'7" (3.76m x 2.92m)

Accommodation & Amenities:
- Please note this is a 2 bedroom for sale but the current vendor has utilised it as a 3 bedroom for rent
- 15.8% yield at asking for students
- 9.7% yield at current achieved rent for residential
- 5 minute commute to Teesside University
- Modern kitchen and bathroom<br /><br />