Tuesday, 16 December 2014

'Needs Work' 3 Bedroom Terrace Close to the Hospital - Decent Yield (6.6%) and Great Capital Growth Potential

We know this 3 bedroom terrace in Jackson St will be popular as we've managed a similar property in this street for some time, along with several others in the nearby streets

This one needs a full refurb, but it does mean investors able to look beyond the very dated decor and fixtures & fittings will be able to get a property that will never have a shortage of decent tenants and also will offer immediate potential for capital growth

Realistically you'd need to budget £20k for improvements on top of the £87,000 asking price

That will return 6.6% Gross Yield based on a very realistic £595pcm rent 

There's been 4 sales of 3 bedroom properties in Jackson Street within the last 12 months and 3 of the 4 sales have been between £122,500 and £143,000 

The other property was sold for £66,000 (which would skew the figures, hence I've not used and average) and I'd suspect that was another 'Needs Work' bargain like this one

Looking at the above, based on a total initial investment (cost of purchase plus the cost of improvements) of £107,000 I'd suggest that a canny investor could make at least £15,000 - possibly up to £36,000 from this purchase

Click here for details http://www.zoopla.co.uk/for-sale/details/35438573?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#VOfZIVxS7ZB5fjwD.97

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

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