Tuesday, 15 September 2015

Cash Buyers Only! Three Bedroom Terrace For 'Offers Over' £40k (9.6% Gross Yield)

You're not going to get a mortgage on this Monkwearmouth Terrace, given the 'Offers Over' £40,000 asking price, meaning it's more suited to cash investors

A couple of two bedroom terraced properties on this street have sold this year, both for £32,500 so £40,000 for this three bedroom house looks about right

Given it needs work (decoration, flooring and a new kitchen as a minimum) I'd advise not paying much more than £40k to give a fighting chance of bringing the total cost of investment in at around £50,000

Done to a good standard it will attract a working tenant, done to a basic standard and the location will probably limit you to DSS

Based on a total investment of £50,000 and £400pcm rent it will return 9.6% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/38134412

Call me on 0191 567 8577 for more details or email neil.whitfield@belvoirlettings.com

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