This 2 bedroom ground floor Moorside flat has just been reduced by £7,000 to £63,000 and at that price looks to be a bit of an investment bargain
Regular blog readers will know that Moorside flats are popular with Doxford International workers and that ground floor flats are the most popular due to the private rear garden
This one doesn't have gas central heating so investors would be advised to consider and budget for this, as it will increase popularity and the chance of tenants staying long term (we do find tenants in the flats with only electric heating don't stay to endure 2 winters...)
As they've knocked £7,000 off the price the owners may be resistant to reduce it further so think worst case and add £5,000 onto the asking price to install GCH and redecorate following this and it will still return 7.9% Gross Yield based on a very realistic £495pcm (it could achieve the upper end of what's achievable in Moorside given it has a conservatory and with GCH, especially and if you also gave the bathroom some attention whilst you were at it)
Click here for details https://www.onthemarket.com/details/1553274
Ignore the 'Help to Buy' sticker...annoyingly Andrew Craig put this on every pic, you aren't forced to buy using this scheme!
Call me on 0191 567 8577 or email email@example.com to discuss this or for a free, no obligation chat about any aspect of the Sunderland property market