Refurbishment of a 2 bed terraced house

for Buy to Let

Project: Poplar

Numbers:

Purchase

Refurb

Other costs

All in

Revaluation

£50,000

£19,000

£3,000

£72,000

£85,000

Monthly rental 

Expenses incl mortgage

Monthly cashflow

Gross yield

Return on cash left in

£575

£345

£230

8.1%

33.5%

This property had been neglected for many decades. The previous owner was about to be repossessed and after two sales have fallen through due to the property being unmortgageable, we purchased it quickly in the rundown condition it was in. 

The windows were even original from when the property was built and it was the last property on the street with those windows in.

Throughout the refurbishment, we had several ​visits from the neighbours thanking our builder and us to finally restore this house and making it blend in with the other surrounding houses. 

The house is now rented to a lovely couple who made this place their home as it is close to their own families.  

Works carried out:

Damp proof course

New consumer unit

Plaster throughout

New kitchen

New bathroom

Replacement of windows and doors

Decoration and floorings

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