Thursday, 4 June 2015

Ugly Pallion 4 Bedroom End Terrace (6.8% Gross Yield)

This one is not a thing of beauty but give it a coat of Sandtex White on the pebbledash and it becomes instantly more attractive! It will still need work internally but once done offers spacious accommodation that will appeal to larger families

On top of the external work I'd budget for redecoration, flooring where required and a new kitchen - it may also be worth looking at using some of the the large kitchen to allow a second w/c, given with 4 bedrooms it will appeal to larger families

Based on paying the £89,950 (which you probably won't) and a budget of £15k for renovations, when it is delivered as a high quality family home you'd realistically achieve £595pcm - based on this it will return 6.8% Gross Yield

Admittedly this is not the best Yield in town, but the area and property suggest this will attract long term tenants, which must be borne in mind, as does the fact you'll be adding in some Capital Growth at the start with the improvements

Click here for details https://www.onthemarket.com/details/1595090

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

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