Tuesday, 2 June 2015

Bargain "Needs Work" Town End Farm 3 Bed Semi (7.7% Gross Yield)

This 3 bedroom semi in the popular Town End Farm estate has clearly had an old person living there so it needs a full refurb job (redecoration throughout, new flooring, new kitchen, new bathroom) but once done will be very popular and will deliver a great return

An investor asked me yesterday which area in Sunderland I'd go for if I had a spare £100k to invest and without hesitation I said Town End Farm - the properties are more modern than some of the other ex-council areas in SR5, the area attracts working tenants who stay put and you can get far more for your money than south of the river

It's being advertised at 'Offers Over' £70,000 but I'd not suggest paying a penny more than this...pay the asking price, spend £15k on doing it up and you'll achieve 7.7% Gross Yield based on a realistic £550pcm rent (given it will be like a brand new, modern home inside)

Click here for details https://www.onthemarket.com/details/1371908

Call me if you'd like to discuss this property or any aspect of property investment in Sunderland - call 0191 567 8577 or email neil.whitfield@belvoirlettings.com

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