Guide price
£550,000
7 bed end terrace house for saleOkehampton Road, Exeter EX4
7 beds
7 baths
- Freehold
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About this property
Central heating
Double glazed
Garden
Parking
Washing machine
White goods
Utilities included
Cable/Satellite
Broadband/adsl
Fire Alarm System, Smart Thermostats, CCTV
Property number 51333. Enquire through Zoopla's messaging system and we'll respond within 5 minutes, 24/7
• Prime Location: Okehampton Road is centrally located in Exeter, offering tenants easy access to key employment hubs, shopping districts, and cultural attractions. And is outside the Article 4 area for Exeter City Council.
• Strong Tenant Demand: Exeter’s thriving economy and major employers like the University of Exeter, nhs, Met Office, ensure steady demand for high-quality rental properties.
• Excellent Connectivity: Exeter has direct train routes to London and Bristol, the M5 motorway, and a growing public transport network, making it ideal for commuters.
• Economic Strength: With key industries like education, healthcare, and digital tech, Exeter attracts professionals, students, and families, ensuring a reliable tenant base.
• Financial Performance: Annual rental income of £60,000 each and operating costs of £7,900.00 each, yield a net annual income of £52,100.00 each.
• Competitive Yields: The property achieves a 10.4% gross yield and 9% net yield, demonstrating strong profitability for investors.
• Quality of Life Appeal: Exeter combines urban convenience with access to scenic Devon countryside, enhancing its appeal to tenants.
• Turnkey Investment: These 7-bed HMO’s offers stable rental income, minimal maintenance, and excellent growth prospects in a high-demand market.
• 4 off road parking spaces could also be rented for extra income.
Attractive HMO Investment Opportunity
Address: 45 and 47 Okehampton Road, Exeter, EX4 1EH
Property Type: 7-bed, 7-bathroom HMO’s. 1 Mid Terrace, 1 End Terrace
Tenant Type: Working Professionals
Prime Location in Exeter
Exeter, the regional capital of the South West, is a vibrant city with a dynamic and diverse economy. Key industries include education, healthcare, finance, and digital technologies, which attract a strong professional workforce. Major employers such as the University of Exeter, the Royal Devon and Exeter nhs Foundation Trust, and a growing tech sector provide a solid foundation for the city’s economic resilience. Additionally, Exeter’s high quality of life and picturesque surroundings make it an appealing destination for residents, ensuring consistent demand for high-quality rental properties.
The properties 45 and 47 Okehampton Road, Exeter, EX4 1EH, is strategically located near Exeter’s city centre, providing tenants with easy access to key employment hubs, shopping districts, and cultural attractions. This central position makes it particularly attractive to professionals who value both convenience and connectivity.
Transport Links and Accessibility
Exeter benefits from outstanding transport links that enhance its appeal as a place to live and invest. The city is connected to the UK’s major cities via regular train services from Exeter St. David’s station, offering direct routes to London Paddington, Plymouth, and Bristol. The M5 motorway provides quick access to the rest of the South West and beyond.
The city has also made significant investments in infrastructure, improving its public transport and cycling networks. Exeter’s proximity to scenic Devon countryside and coastal areas adds to its desirability, combining urban convenience with the charm of rural living.
Financial Summary
Income Breakdown (45)(Monthly):
Room 1: £695.00
Room 2: £650.00
Room 3: £726.00
Room 4: £600.00
Room 5: £1000.00
Room 6: £650.00
Room 7: £650.00
Total Monthly Income: £5,021.00
Annual Income: £60,252.00
Expenditure Breakdown (Monthly):
Gas: £83.00
Electric: £226.00
Water: £75.00
Council Tax: £189.00
TV License: £15.00
Broadband: £23.00
Insurance: £25.00
Other: £11.70
Total Monthly Expenditure: £647.70
Annual Expenditure: £7,772.40
Yield Analysis
Gross Yield: 10.5% (calculated as Annual Income / Sale Price)
Net Yield: 9.13% (calculated as Net Annual Income / Sale Price)
Income Breakdown (47)(Monthly):
Room 1: £650.00
Room 2: £840.00
Room 3: £600.00
Room 4: £675.00
Room 5: £795.00
Room 6: £650.00
Room 7: £650.00
Total Monthly Income: £4,910.00
Annual Income: £58,920.00
Expenditure Breakdown (Monthly):
Gas: £145.00
Electric: £258.00
Water: £75.00
Council Tax: £189.00
TV License: £15.00
Broadband: £23.00
Insurance: £25.00
Other: £11.70
Total Monthly Expenditure: £666.70
Annual Expenditure: £8,000.40
Yield Analysis
Gross Yield: 10.3% (calculated as Annual Income / Sale Price)
Net Yield: 8.86% (calculated as Net Annual Income / Sale Price)
Conclusion:
45 and 47 Okehampton Road is a robust investment opportunity, delivering steady rental income and competitive yields. Its central location, coupled with Exeter’s thriving economy and connectivity, makes it an ideal addition to any investor’s portfolio. With a well-established tenant base and excellent growth prospects, this property promises both immediate returns and long-term value.
Gross Yield: 10.4%
£550,000 each or a deal could be had with both being bought at the same time.
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