Today’s Penicuik
Property Blog buy to let opportunity is a 1 bed flat that has been on the
market for a many, many so it much surely be ripe for negotiating a cracking
deal on it!
It is a
fairly basic 1 bed flat at 4 Andrew Court in Penicuik, just off the Queensway,
although it does have gas central heating and double glazing. The description and pictures do not make it
clear whether the bathroom has a shower or not so it would be worth checking
this. Also, the bathroom picture does
not have a full shot of the WC so I am not able to see whether it has the tell
tale sign of repossession – tape across the WC seat! Again, worth checking this out.
Finally, the external picture shows that
there is a defective communal down pipe and it is worth considering the difficulties
landlords sometimes have in getting even simple communal repairs done. There are more photos of the flat at the
bottom of this article.
The property
is on the market with Stuart & Stuart for a fixed price of £70,000 and it
has been at this price since well before Christmas so surely there will be room
for negotiation on the price to, say, £65,000.
It will rent for £500 pcm, possible £525 pcm. Based
on these prices and rents you get the following yields:
- Price £65,000; rent £525 pcm gives a yield of 10.5%
- Price £65,000; rent £500 pcm gives a yield of 9.2%
- Price £70,000; rent £525 pcm gives a yield of 9%
- Price £70,000; rent £500 pcm gives a yield of 8.6%
More photos for the flat are set out below:
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