I first spotted this 2 bedroom, first floor Moorside flat in November when it was listed at £80,000 - at that price it was worth a look, promising 6.75% Gross Yield based on £450pcm rent
It's now been reduced to OIRO £75,000 making it an even better investment, now promising 7.2% Gross Yield
It looks to have been recently refurbished to a good modern standard, so it will be popular with a range of tenants, given it's location close to Doxford International
It's worth considering that in my opinion the achievable rent is limited to £450pcm as it appears to just have the original electric heating
Investors planning for the long term would be advised to consider installing Gas Central Heating - we know from experience of managing several similar properties in the area that this will significantly increase interest and also the achievable rent, so may well be worth the additional expense
Given the good condition of the flat, with GCH it's likely that it could achieve £475 or even £495pcm
Click here for details http://www.zoopla.co.uk/for-sale/details/35146571
Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information
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