Offered with no onward chain and with vacant possession, is this traditional two-up, two-down, Victorian mid-terrace home. Perfect for the first time buyer (or investor), the house is located at the East Gates end of Greenstead Road, close to Colchester's vibrant City Centre and it’s array of excellent amenities.
Entering the property you step into the living room with feature fireplace and double glazed window. The dining room, with stairs to the first floor, sits between the living room, at the front and the fitted kitchen at the rear. The kitchen has a run of work tops plus under and over units with room for appliances.
Upstairs has a large double bedroom to the front and a single bedroom to the rear. The three piece family bathroom with integrated shower completes the accommodation.
The rear garden, accessed from the kitchen, has a brick storeroom on the back of the kitchen. The garden itself is in need of some attention but otherwise the house is ready for its new owner.
To arrange a viewing, please contact James Leigh Property\nManagement.
PROPERTY DETAILS
Living Room: 3.22m x 3.65m (10’7” x 12’0”)
Dining Room: 2.88m x 3.65m (9’6” x 12’0”)
Kitchen: 3.40m x 1.60m (11’2” x 5’3”)
Double Bedroom: 3.22m x 3.65m (10’7” x 12’0”)
Single Bedroom: 3.40m x 1.60m (11’2” x 5’3”)
Bathroom: 2.88m x 1.96m (9’6” x 6’5”)
Gas Central Heating
Double Glazed throughout
EPC rating: (2016) 53 (E) Potential 84 (B)
Council tax band: B (£1,639 pa)
Tenure : Freehold
Council Tax Band : B
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Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
| Tax Band | % | Taxable Sum | Tax |
| less than £125k | 0 | ||
| £125k to £250k | 2 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £125k | 3 | ||
| £125k to £250k | 5 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £300k | 0(2/5)* | ||
| £300k to £500k | 5 | ||
| £500k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
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