Monday, 15 June 2015

Three Bedroom Downhill End Terrace (8.2% Gross Yield)

This three bedroom end terrace in the popular Downhill area of SR5 just needs a lick of paint in a few bedrooms & a shower fitting in the bathroom and following this it should be popular with working families

It's being offered by the Durham-based estate agent for £79,995 and interestingly they're also attempting to get £650pcm for it - we've noticed it as we can see it's been on the market 'To Let' for over 8 weeks...

It's clear that the agents don't know the local market as £650pcm is way more than the going rate for this type of property in this area - we see that comparable 3 bedroom properties in this part of SR5 tend to go for between £500 and at most £550pcm

I'd also suggest that as the decoration in some of the bedrooms need attention and the fact that the outside space is scruffy (or was when the photos were taken) makes their chance of securing a market-busting premium rent even less likely!

Based on a more realistic £550pcm (which I'd suggest is achievable given the kitchen and bathroom look good and there seems to be a lot of outside space) it will return 8.2% Gross Yield

Click here for details to buy it http://www.zoopla.co.uk/for-sale/details/37143394 or to pay over the odds to rent it http://www.zoopla.co.uk/to-rent/details/37150143 

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

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