Monday, 3 August 2015

Bargain 2 Bedroom Terrace in Dalton-le-Dale (8.6% Gross Yield)

This one caught my eye for a couple of reasons, firstly the price of £39,000 for a 2 bedroom house is pretty eye-catching and secondly we've managed one in the same row for a number of years

Having managed the next door property we know that Dalton-le-Dale is a sought after village between Seaham and Murton, close to the Dalton Park shopping outlet 

We also know that it's is on the a main road so will have road noise and that the second bedroom is very, very small and can be offputting (so it may be beneficial to use some of the very large front bedroom space to sort out a better upstairs layout)

Either way, it needs work internally needing a new kitchen, decoration & flooring throughout (£10k should do it, assuming you keep the layout the same, it will be more if you make significant changes) and once done it will let for £350 - £400pcm

We've achieved £425 in the past but £400 is more normal and I'd suggest given current market conditions you should budget on £350 (that's what we're getting at the moment) - even based on this lowers amount it will return 8.6% Gross Yield

Click here for details http://www.rightmove.co.uk/property-for-sale/property-35525361.html 

Call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information on this investment or any aspect of property investment in Sunderland or surrounding areas






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