Monday, 11 April 2016

Vacant Possession (But Needs Work) Silksworth Semi (7.0% Gross Yield)

This three bedroom semi in a popular part of Silksworth is on the market with vacant possession and no onward chain 

It's being advertised as OIRO £79,950 but given the circumstances it may be possible to negotiate 

Realistically it needs updating throughout so you'd be wise to budget on a renovation budget of £10k - 15k (and negotiate based on this)

It will easily achieve £495pcm (but I'd be cautious about going above the £500 ceiling) so if you can negotiate hard and bring it in with a total investment (purchase price plus renovations) of £85,000 it will deliver 7.0% Gross Yield

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It's being sold by Alfred Pallas so call them to arrange a viewing and click here for details https://www.onthemarket.com/details/2583271

If you'd like to discuss this in more detail or any aspect of the Sunderland property market please call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com

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