4-bed flat for sale in Portsmouth PO1 — £190K | Dwelfy

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Thin — worth an offer, not the asking price

Let by the room, you'd make about £447 a month.

That is thin: one empty month wipes out 6 months of that profit. The room rents rest on 2170 local room lets, so treat them as a guide. The problem is the gap between them is too small to absorb anything going wrong.

Hampshire Terrace, Portsmouth PO1 · 1,453 sqft · £131/sqft

4 BED FLATListed 271d · ~9mo

£190,000

Why it works

Monthly profit +£447/mo from completion — the no.1 reason to invest
This is the money left after the mortgage, the running costs and tax — not the rent.It assumes the rent we modelled and the empty weeks we assumed. Change either and it moves. Try your own numbers →
16.1% Rent by the room return before costs (net 9.12% after CapEx + bills) — conversion play
Letting by the room, after the conversion. The whole gap between this and the plain rent is the reason to do the work.It needs the rooms, the licence and — in an Article 4 area — planning permission. None of those is automatic. See the conversion →
6.9% a year over five years — a strong return on the cash you put in
Rent, mortgage paydown and price growth together, annualised over five years.It assumes 2% a year of price growth. Strip that out and most of the return is the rent. See the projection →
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

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 if I change my assumptions?
At the asking price, 25% deposit, 6.70% charged
Try your own numbersLive
You keep£447/mo
All-in cash£85,005
Payback15.8 yrs
Offer
Deposit
Mortgage rate
Rent per double
Worked at 6.70% — 5.95% quoted plus a company premium.
worked out from local rents

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 £190,000 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
3 schools 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

Ready to move on this property?

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£447/mo

All-in cash£85,005

Payback15.8 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

£1,822/mo from 3 rooms — the rent on this strategy is the mix, not a figure of its own.2 doubles at £652 · 1 single at £518

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£190,000Asking 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 2026-05-20). 5.95% headline + 0.75pp limited-company product premium = 6.70% charged in this model.

Doing it up a typical figure, not a quote£19,855Per-property refurb estimate from the element rate-card model (£14,891–£27,797 range), VAT-inclusive

Double rooms a general default, not this property2

Rent per double a general default, not this property£652/mo

Single rooms a general default, not this property1

Rent per single a general default, not this property£518/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£2,000Leasehold flat — £1,500 legal + £500 survey

Lender fees a typical figure, not a quote£3,8502% product fee on £142,500 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

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Listed by

ROK Marsh

023 9424 2562 View on portal

Asking price£190,000

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Every live listing in Portsmouth, ranked with the same maths as this page.

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Let by the room, you'd make about £447 a month.

What will it cost me to buy?Breakdown£64,150 + refurb and conversion costs£16,650 of that never comes back — stamp duty, solicitor and lender fees.£64,150 to buy it~£20,855deposit · stamp duty · solicitor · feeswe haven’t been inside□ 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 £190,000 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

More investment properties in Portsmouth

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 £190,000 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