Tuesday, 14 July 2015

Four Bedroom Student Let 10 Mins Walk From Chester Rd Campus (+10% Gross Yield)

This 4 bedroom mid-terrace in the popular Eden Vale area is walking distance to Sunderland University and the City Centre and has tenants secured for the 2015/16 academic year

It looks to be in a good condition with the kind of modern kitchen students expect nowadays

It has 3 upstairs bedrooms (2 doubles and a single) with the ground floor rear reception room being used as the 4th bedroom - it also has a decent sized lounge

The selling agent advises 10% Gross Yield is being achieved, which based on the £110,000 asking price means they're basing this on it being occupied for 9 months of the year (Sept - May)

Competition for students is getting increasingly fierce so whilst it would have been normal to expect students to sign up to a 10 or 11 month tenancy in recent times (and this may still be possible in certain circumstances) you may be wise to work on the worst-case 9 scenario of the month occupancy suggested above

I'd also suggest that as the student market is getting increasingly tough in Sunderland (which may explain why this owner is looking to sell it) it would be worth a frank & honest discussion about the medium to long term prospects before proceeding with a purchase such as this

Click here for details https://www.onthemarket.com/details/1641659

Call me on 0191 567 8577 if you'd like to discuss this property, the student market in Sunderland or any aspect of property investment in Sunderland

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