Wednesday, 17 December 2014

"Half Price" 2 Bedroom Modern End Terrace (8% Gross Yield)

The advert says 'Priced to Sell' and given this was bought new for £113,750 in 2008 the OIRO £59,950 asking price certainly demands further investigation!

The photos are clearly from when it was built in 2008 so it would be interesting to see what condition the property is in (I know some of these houses have been rented from new and have had a particularly hard life) but even if it is looking shabby, given it is small and modern, £5k should take care of most things, even if the kitchen and bathroom need TLC

Given current market conditions I'd suggest basing your calculations on £400pcm, although it has been possible to get £425 or even £450 in the past

Based on the above lower rental amount it will return 8% Gross Yield

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