Well, as I’m sure a lot of you are aware, properties in Nuneaton popping up for sale within a certain price range are becoming few and far between at the minute, but when they do, they are quite the investment. Like this 3 bedroom property on Duke Street for example. Being Marketed at £100,000 with Yourmove, this property judging by the pictures looks like you can buy it and without doing any work to it rent it out straight away.
Its in a great location for rental purposes as it is within walking distance to town as well as being in the catchment area for schools close by. You would have no trouble renting this out for £600 a month and this if you were to pay the asking price of £100,000 would give you a 7.2% yield.
This type of property could even be bought and turned into a HMO, which would mean doing work on it to make it the required standard, but then you could be renting each room out for around £65 a week giving you the potential to bring in £1,040 a month ( this is on the basis you were to rent out 4 individual rooms, which you then have to look at adding an extra ‘wash room’) but this would give you a whopping yield of 12.48%.
Several of our landlords have HMO’s that we look after for them, so if this was something you maybe contemplating and would like some more advice, please give us a call on 02477 674545