Monday, 6 July 2015

Could This Be The Cheapest House In SR4? (18% Gross Yield!)

It's not often you see a house for less than a new family car in Sunderland!

We manage a couple of 1 bedroom cottages in Millfield and usually get £350 - £375pm - this one is located near the new Persimmon Alexandra Park development on the old glassworks site so the area is OK 

There's no internal pics and the frontage really does look tiny, so being overly pessimistic and working on only £300pcm rent and the £19,950 asking price it will still return a massive 18% Gross Yield - £350pcm will get you 21% Gross Yield!

Clearly you won't get a mortgage (and the Help to Buy sticker is misleading...but Andrew Craig put it on all of their ads for some reason) so it will need to be a cash purchase (or you could even stick it on a credit card if you have a healthy credit limit or a few 0% balance transfer offers!!!)

Click here for details 

Call me if you're intrigued about this one or would to chat about any aspect of the Sunderland property market

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