"Ready to Let" Town End Farm 3 Bedroom Semi For Sale At Auction (8.8% Gross Yield)

This 3 bedroom semi is being sold at auction on December 3rd with a starting bid of £55,000. The most recent sale of a comparable property on this street was in 2013 and it went for just over £80,000 so I would expect to pay somewhere between £75 - £80k for this one

Eagle-eyed readers may recognise it from a blog post back in September, when they were looking for 'offers over' £75,000

It was originally listed in July with an asking price of £80,000 so I'd definitely advise aiming for no more than £75,000 if you do bid

December auctions are normally pretty quiet so it may be that you can capitalise on a lack of competition and snap up a bargain...
Based on paying the £75,000 and assuming there are no additional expenses (it looks to be in a Ready to Let condition) you'd achieve 8.8% Gross Yield based on £550pcm rent

Click here for details http://www.rightmove.co.uk/property-for-sale/property-53176877.html 

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