Just added by ‘Purple Bricks’ this morning is this lovely, well presented 3 bedroom end terrace house on Brendon Way in Stockingford.
This property has 3 large bedrooms, a fitted kitchen diner, downstairs w.c and a detached garage….and for ‘offers over’ £99,950. Having recently viewed a similar property with one of our landlords in that area which was also marketed at ‘offer over’ £99,950 I can tell you that it did in fact sell for £105,000. As I haven’t personally seen this one I’m not sure if it is on par with the house that sold for £105k or if a figure of £100k would be more realistic. If we however base our calculations on the proviso that you could buy it for £100,000, with an acheievable rent of £625 PCM you would be looking at a yield of 7.5%… impressive right?
People in the past have tended to turn their noses up at this particular area, for the simple reason that many years ago it was a ‘council estate’, however the majority of houses there have now been bought and are tenanted or owned by the working class . I know myself that houses here don’t stay on the market long so id definitely arrange a viewing asap.
As for being able to rent it out… it is in an ideal location for commuting, with links to Birmingham and Coventry via the country lanes. It is also in the catchment area for the good Primary school, and only a short drive into Nuneaton town centre. I think this would be an attractive prospect for any renter.
If you would like advise on any property you are looking to purchase for buy to let investment, or you would just like advise on Nuneaton as an area, please give us a call on 02477 674545