E & M Property Solutions says ..

Property Oracle says ..

This four-bedroom, two-bathroom property located on Colbran Street in Burnley is marketed as a tenanted HMO (House in Multiple Occupation), presenting an investment opportunity. The property's proximity to Burnley General Hospital and several schools, including some with positive Ofsted ratings, increases its appeal to families and healthcare professionals. The interior, based on photos, appears in reasonable condition. The kitchen and bathrooms have recently been updated, showcasing modern fixtures. However, several bedrooms present some signs of minor wear and tear and the absence of external space is noticeable. Although the list price seems within the range of comparable properties in the area, the lack of square footage data hinders a definitive valuation judgment. Buyers should carefully review the potential risks and rewards associated with owning and managing an HMO in this location, and proceed with due diligence. It's important to understand the potential yield and vacancy rates when considering the property's financial viability as a rental investment. While it offers the potential for rental income, the level of return must be carefully calculated in relation to potential management costs and the need for maintenance. The current condition of the property seems fit for purpose as an HMO, requiring only minor cosmetic improvements. Therefore, we give this property 5 / 10. *Disclamer: This is our opition and does constitute a recommendation or financial advice. Do your own research.*

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