Today’s buy to let opportunity is a new to the market 2 bed, lower villa on John Street just along from the Angle Park Garage corner that is being sold by Allan McDougall. John Street is the main drag into Penicuik.
There is plenty of accommodation including a decent sized lounge, a modern fitted kitchen, 2 good size double bedrooms, a well presented wet room, gardens and on street parking. The property also has double glazing and central heating.
By the looks of it, this property has been modified to make it more suitable for an older person eg wet room instead of a more traditional bathroom, easy flush handle on the WC. Most of the modifications are fine from a letting point of point of view other than possible the wet room. As readers of the Penicuik Property Blog will have heard me say before, having a bath is preferable as families really need a bath and others like a bath even though they will hardly ever, and possibly never, use a bath. Having a wet room will reduce the number of people interested in renting the property but you should still get it rented with a wet room particularly as it is only 2 bed property that is likely to attract fewer families.
Doing the maths. The price is £90,000. Rent of £600 pcm is achievable on a property like this which gets you to a 8% yield.