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276 Dyke Road Brighton Print E-mail

276dykerdsmall.jpgONE BEDROOM CONVERTED FLAT
£159,950 SHARE OF FREEHOLD

A great buy to let investment opportunity in a highly sought after location.  This property is in good decorative order and benefits from a Share of the Freehold
Initial outlay required: £51,360

SOLD 

Location: Dyke Road is one of the premier residential roads of Brighton & Hove with easy access to the M23 & A27 and regular bus services to the city centre.  An excellent range of local shops can be found close by in the Seven Dials district.

Description: A modern, first floor one bedroom flat situated at the rear of a newly converted house.  Features include modern kitchen and bathroom and gas fired central heating.

Approximate Area: 450 square feet

Entrance: Wood laminate flooring, radiator, door entryphone system

Lounge: 17'11 x 11'9  Wood laminate flooring, two windows with distant views, radiator.

Kitchen:7'10 x 7'9  Excellent range of modern fitments comprising stainless steel single drainer sink unit inset into worktops.  Range of base cupboards, drawers and wall units.  Integrated washing machine and integrated fridge/freezer.  Integrated Indesit oven, four ring gas hob with chimney effect cooker hood above.  Part tiled walls.  wall mounted Worcester boiler.  Double glazed window.

Bedroom:13'2 x 9'9  Original ceiling coving, three sash windows, radiator and neutral carpet.

Bathroom:Modern white suite comprising bath with mixer tap and shower attachment with folding shower screen.  'His and Hers' wash basins with vanity units below.  Low level wc.  Tiled walls and floor.  Double glazed window.

 

Outgoings:

Lease: Share of Freehold
Maintenance:£1,000 per annum
Ground Rent:£50 per annum

Recommended Update: Blinds

A professional electrical survey may reveal work not covered by the update.  It is recommended that an electrical survey is carried in additon to the valuation survey at a cost of GBP 180.00 (inclusive of VAT) 

These details are produced in good faith but are set out as a guide only and do not constitute any form of contract nor any statement contained therein to be representation or warranty. Any intended purchasers must satisfy themselves by inspection or under advice of their solicitor particularly in context of any approved plans for other on site or nearby development.

FINANCIAL FORECAST: 276 DYKE ROAD BRIGHTON BN1 5AE
Financial Forecast Guide

Asking Price £159,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £157,950  
Estimated Update £250 incl 10% supervision fee
Stamp Duty £1,580 commencing @ 1% over £125k
TOTAL £159,780  
 
Estimated Rental Income
Rent per week £173  
Rent per month £750  
Rent per year £8,996  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,552 @ 15% plus VAT
Ground Rent £50 per annum
Maintenance Charge £1,000 per annum
TOTAL £2,602 per annum
 
Summary
Gross Rent Per Year £8,996  
Annual Operating Costs £2,602  
Nett Cash In Hand pa £6,394  
Nett Cash In Hand pm £533  
 
Mortgage - Assuming 70% Loan £110,565  
 
Total Cash Outlay £51,360  
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