North Street, Rushden, Northamptonshire

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Property Overview:
71 North Street, Rushden, NN10 6BU, offers an excellent investment opportunity within the HMO market. This property features five bedrooms and four bathrooms, including three en-suites, ensuring a high level of comfort for tenants. Each room is designed to meet modern living standards, making it an attractive option for renters.

Location and Amenities:
Situated in Rushden, Northamptonshire, this property benefits from a strategic location with robust local employment opportunities. It is well-served by essential services, enhancing tenant convenience. The presence of local parks and recreational facilities further enriches the quality of life for residents. The town’s advantageous position within Northamptonshire provides easy access to major cities, enhancing its appeal to tenants who work or study in these urban centers.

Income Breakdown (Monthly):

Room 1: £476.67
Room 2: £500.00
Room 3: £520.00
Room 4: £520.00
Room 5: £520.00

Total Monthly Income: £2,536.67

Annual Income: £30,440.04

Expenditure Breakdown (Monthly):

Electric & Gas: £189.44
Water: £71.00
Council Tax: £197.00
TV License: £14.13
Broadband: £36.00
Cleaner: £50.00
Management: £249.00
Total Monthly Expenditure: £806.57

Annual Expenditure: £9,678.84

Net Annual Income: £20,761.20 (calculated as Total Income - Total Expenditure)

Gross Yield: 10.15%

Commentary:

The room rates may vary slightly by the time of a completed purchase but are accurate at the time of listing. The running costs are accurate as of May 2024. Investors will need to consider their own cost of lending and management structure. The property's financial performance indicates a solid gross yield, reflecting its potential as a valuable investment. This financial summary does not account for potential vacancy periods or additional management costs not listed, which could impact net income and yield calculations.

Investment Highlights:
71 North Street presents a solid investment with substantial income potential. The total monthly rental income is £2,536.67, translating to an annual income of £30,440.04. The property’s expenditures, including utilities, council tax, cleaning, broadband, TV license, and management fees, total £806.57 monthly, leading to an annual expenditure of £9,678.84. Consequently, the net annual income is £20,761.20, reflecting a robust gross yield of 10.15%.

Investing in HMOs in Rushden offers strong returns and stable demand. The town’s transport network, including proximity to major roadways and the nearby Wellingborough railway station, ensures excellent connectivity. This ease of access makes it an ideal location for commuters. The local economy, supported by major employers and the Rushden Lakes Shopping Centre, ensures a steady demand for rental properties, driving high occupancy rates and stable rental incomes.

Investing in Houses in Multiple Occupation (HMOs) in Rushden, Northamptonshire, presents a compelling opportunity for property investors seeking strong returns and stable demand. Rushden offers a strategic location with excellent transportation links, robust local employment opportunities, and great access to major cities, all contributing to a thriving local economy.

Rushden's transport network is a significant advantage for potential investors. The town benefits from proximity to major roadways, including the A45 and A6, providing easy access to nearby cities such as Northampton, Bedford, and Milton Keynes. Furthermore, Wellingborough railway station, just a short drive away, offers direct train services to London St Pancras in under an hour, making it an ideal location for commuters.

The local economy in Rushden is bolstered by several large employers, ensuring a steady demand for rental properties. Notable companies in the area include Whitworths, a leading supplier of dried fruits, nuts, and seeds, and various logistics and manufacturing firms. The Rushden Lakes Shopping Centre, a major retail and leisure destination, also provides numerous employment opportunities, further driving demand for affordable, flexible housing solutions.

Rushden's advantageous position within Northamptonshire allows for great access to larger cities, enhancing its appeal for tenants who work or study in these urban centres. The town's affordable living costs compared to larger cities make it an attractive option for young professionals, families, and students, all of whom contribute to a diverse and stable tenant base.

The strength of the local economy is reflected in the consistent demand for rental properties, supported by a mix of local industries and excellent transport connections. This demand ensures high occupancy rates and stable rental incomes for HMO investors. Additionally, the ongoing development and investment in the area promise potential for future capital appreciation, making Rushden a smart long-term investment choice.

In summary, Rushden, Northamptonshire, offers a prime opportunity for HMO investments due to its robust transport network, significant local employers, excellent access to major cities, and a strong local economy. These factors combine to create a thriving rental market with high demand, ensuring attractive returns and long-term growth potential for investors.