Good Afternoon readers, hopefully you’ve all managed to keep dry today! On my daily visit to Zoopla, I came across this little beauty which with enough TLC could be a wonderful Buy to Let investment opportunity.
It is a 3 bedroom semi- detached property with a driveway, currently being marketed by A Smiths, and will be going to auction with a guide price of £90,000. It has part double glazing and solid fuel central heating which if kept you must install the carbon monoxide detectors(as with any property that has solid fuel burners). A new kitchen and bathroom would be a must with the basic magnolia paint and flooring also being required, this done sensibly could all come in at around £10,000 maximum unless of course the survey was to come back with any major works.
So if you managed to get this property at the £95k mark for arguments sake, and spent £10k doing it up, I think a rent of£650-£675 PCM would be easily achievable, this would give you an annual yield of 7.71% which as I’m sure you would agree is a great figure! The location of the property will make it appealing to anyone looking to rent in Nuneaton as it is very central to town but at the same time on a quiet street, and with it being a semi- detached property with a driveway it has that appeal for those that drive.
If you are interested in this property, the auction details can be found following this link:
We are here for you to speak to at anytime if you are interested in Buy to Let opportunities and need any advice, so please either pop in and see us on Bond Street or give us a call on 02477 674545