Wednesday, 7 January 2015

Two Bedroom Millfield Terraced 'Cottage' (8.3% Gross Yield, Apparently...)

This 2 bedroom terraced cottage is so new to the market there's only an external shot, which means there's no way of telling if it's going to need a lot of work inside

Outside looks tidy and well kept so let's think positive and assume it's not going to need much more than a lick of paint

The Estate Agent particulars claim it's currently let and getting £450pcm rent - to get that it really will need to be in great condition and even then I'd say £400 is more realistic for the area

So based on this super-optimistic view it will return 8.3% Gross Yield based on £450pcm and just paying the £64,950 asking price, with no need for any further spend on renovations

Based on a more realistic scenario, adding £10k for improvements onto the asking price and lowering the rent to £400pcm will deliver a more modest 6.4% Gross Yield (but that's still much better than you'd get in many parts of the UK!)

Click here for details http://www.zoopla.co.uk/for-sale/details/35551997?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#RQ6XkzPZfhmvHEWw.97

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



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