4-bed property for sale in Preston PR1 — £275K | Dwelfy

Deals · PR1 · Eldon Street, Preston PR1

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Thin — worth an offer, not the asking price

Let by the room, you'd make about £50 a month.

That is thin: one empty month wipes out a year of that profit. The room rents rest on 4994 local room lets, so treat them as a guide. The problem is the gap between them is too small to absorb anything going wrong.

Eldon Street, Preston PR1

4 BEDListed 69d · ~2.5mo

£275,000

9.39% Rent by the room on priceimplied from Rent by the room yield — not a comp

Why it works

Passes the lender's rate test at 6.5% — lender-friendly
Lenders test the rent against a stressed rate, not the one you are quoted. This clears it.The cover level is each lender’s own policy, not law — treat it as the shape of the test. See the lender's view →

Why to be cautious

EPC D — must hit C by 2030 (~£3,000–£7,000)
Lettable today. The C grade proposed for 2030 means work at some point before then.The 2030 date was confirmed by government but the legislation is not yet written, so treat the cost as a range.
Article 4 in area — Rent by the room conversion needs planning permission
The council has removed the automatic right to convert to a shared house here — it needs planning permission.It does not affect letting the property normally, and permission is often granted. It is a step, not a wall. See who decides →
No rent comparables — estimate is a rule-of-thumb fallback, not market data. Verify the rent locally before offering.

What would have to be true?
Nothing — it works at the asking price
The rent covers the mortgage, the running costs and the tax at the £275,000 asked, so there is no discount this card has to name. A lower price would be upside, not a condition.
worked back from the rent

Is it a good location?
No school rated Good or better in this postcode area
1 school in this postcode area, none rated Good or better and flood risk checking… — open for the map, the schools and the rest.
Article 4Planning permission required to let by the room
postcode area, not this address

Which strategy wins?
No rent on file, so nothing can be ranked
No rent is recorded for this address, so nothing here can be priced from one. Put a rent you believe into the calculator and every figure below moves with it.
no market renta comparison needs a rent for every way of letting it

Ready to move on this deal?

Generates an offer pack with your numbers & sources — take it to the agent.

Listing seen …

What if…

Rent room-by-room to 3+ unrelated tenants from 2+ households sharing facilities. Statutory HMO definition; mandatory licence kicks in at 5+ tenants.

You keep£50/mo

All-in cash£113,983

Payback189.6 yrs

Offer

Deposit

Mortgage rate

The dial above is the rate you would be quoted. Every figure on this page is worked at 6.70% — that rate plus a 0.75pp premium lenders add on a limited-company purchase.

Rent by the room

Double rooms

Rent per double

Single rooms

Rent per single

£1,535/mo from 3 rooms — the rent on this strategy is the mix, not a figure of its own.2 doubles at £551 · 1 single at £433

Ensuites and studios are Pro. They let for more and cost more to build, and the figures above exclude them entirely — nothing here is counting a room you cannot see.

Doing it up

Estimated, not surveyed — nobody has been inside.

Running costs come as one supplied figure for this house-share (letting, repairs, bills, insurance and empty weeks together), so the individual lines cannot be moved.

More assumptions5

Mortgage term

Fixed for

Stress rate

Solicitor + survey

Lender fees

Where these figures came from13

Offer the asking price£275,000Asking price from listing

Deposit a typical assumption25%Standard 75% LTV for HMO

Mortgage rate a typical assumption5.95%Specialist 5-year fixed at 75% LTV — 5.95% (as of 2026-09-14). 5.95% headline + 0.75pp limited-company product premium = 6.70% charged in this model.

Doing it up a typical figure, not a quote£19,458Per-property refurb estimate from the element rate-card model (£14,594–£27,241 range), VAT-inclusive

Double rooms a general default, not this property2

Rent per double a general default, not this property£551/mo

Single rooms a general default, not this property1

Rent per single a general default, not this property£433/mo

Mortgage term a general default, not this property25 yrs

Fixed for a typical assumption5 yrsFixed for 5 years (Specialist 5-year fixed at 75% LTV); after the fix the projection charges the reversion rate — a stated assumption, not a forecast.

Stress rate a typical assumption7.50%The higher of 5.5% and your rate + 2 points (PRA SS13/16): 7.5%

Solicitor + survey a typical figure, not a quote£2,150Standard house — £1,400 legal + £750 survey

Lender fees a typical figure, not a quote£5,1252% product fee on £206,250 loan + £1,000 booking fee

These are this page’s own derivation notes, unedited. A figure marked a typical figure, not a quote is our model of a cost for a property of this kind in this area — not a price anybody has given you, and the first thing worth replacing with a real one.

Notes

Auto-saves

Listed by

Kingswood

01772 937431 View on portal

Asking price£275,000

Let by the room, you'd make about £50 a month.

Will it pay?Calculator£50 of every £2,152 is yours to keep, each monthYou keep 2p of every pound of rent. The mortgage takes 54p.£1,152 mortgage£939 running£2,152 rent in£50 yours□ market rent £2,152 · few comparables4 empty weeks a year assumed

What will it cost me to buy?Breakdown£93,525 + refurb and conversion costs£24,775 of that never comes back — stamp duty, solicitor and lender fees.£93,525 to buy itdeposit · stamp duty · solicitor · fees~£20,458, unseen□ works not inspected

What would have to be true?Nothing — it works at the asking priceThe rent covers the mortgage, the running costs and the tax at the £275,000 asked, so there is no discount this card has to name. A lower price would be upside, not a condition.◧ worked back from the rent

Which strategy wins?No rent on file, so nothing can be rankedNo rent is recorded for this address, so nothing here can be priced from one. Put a rent you believe into the calculator and every figure below moves with it.□ no market renta comparison needs a rent for every way of letting it

What would have to be true?
Nothing — it works at the asking price
The rent covers the mortgage, the running costs and the tax at the £275,000 asked, so there is no discount this card has to name. A lower price would be upside, not a condition.
worked back from the rent

Which strategy wins?
No rent on file, so nothing can be ranked
No rent is recorded for this address, so nothing here can be priced from one. Put a rent you believe into the calculator and every figure below moves with it.
no market renta comparison needs a rent for every way of letting it