5 Bed House in Grahamstown Central

Unmissable Investment Opportunity for Buy-to-Let Investors!

Discover an unparalleled investment opportunity with this stately home, first identified on a map of Makhanda in 1863, now transformed into a prime buy-to-let property. Located at 20 Somerset Street, just 200 meters from Rhodes'' Little Theatre, this exquisite double-storey house with a charming cantilevered balcony features 5 spacious bedrooms in the main house and a highly desirable cottage in the garden.

Financial Highlights:

Gross Annual Income: At full occupancy, achieve a gross annual income of R238,500 based on a 10-month lease scenario.

Expenses: With estimated expenses at 18% of the rent (R42,930), the net rental income per annum is an impressive R195,570.

Nett Return on Investment: Based on the asking price of R1,995,000, the estimated nett rental provides a lucrative nett return on investment of 9.8%.

Nett Free Cash Flow: Projected to be R16,297 per month, allowing you to service a bond of R1,600,000 over 20 years at 10.75%.

For investors leveraging financing, youll need a deposit of approximately R395,000 plus legal expenses. With an investment of R395,000 of your own funds, the return on your investment skyrockets to an incredible 49.37%!

This exceptional property is strategically located near the University, making it a safe house investment, one with a very low vacancy rate. Come and explore this remarkable opportunity and review the figures with me. I''m confident you''ll be impressed!

Invest wiselysecure your future with this outstanding buy-to-let property today!