Wednesday, 29 October 2014

"Needs Work" Three Bedroom SR5 Semi (7.9% Gross Yield)

This 3 bedroom semi in Witherwack (SR5) could be a bargain and with a bit of work prior to letting would be popular with long term, family tenants

The current kitchen and bathroom are very basic so to secure a Good Tenant it really could benefit from them being updated and following this, decoration & new flooring throughout

Adding a generous £15,000 onto the £59,950 asking price would still deliver 7.9% Gross Yield based on £495pcm rent & it's highly likely that in making the improvements you'd add more to the value of the property 

It's worth noting that whilst the most recent sale in this street (in 2010) was for £75,000 the prior sales were before the financial crisis and they were all for over £80k for similar 3 bedroom semis (one sold for £87k in 2005!)

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