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
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