Today’s buy to let opportunity is a 3 bed, upper villa on
John Street opposite the Bank of Scotland that is being sold by McEwan Fraser
Legal. John Street is the main drag into
Penicuik.
There is plenty of accommodation including a decent sized
lounge, a fitted kitchen, 3 double bedrooms, a bathroom with a shower, gardens
and on street parking. The property is
in lettable condition and, by the looks of the photos, it has been rented out
before. Structurally there are a couple of things I would point out: one the
bedrooms is a ‘small’ double (have a look at the photos and you will see what I
mean!) and the fact that is an upper villa may put off some people,
particularly families with small kids.
Doing the maths. The property is on the market with
McEwan Fraser offers over £99,995 so let’s say it goes for £105,000. Rent of £800 pcm is achievable on a property
like this particularly with housing benefit tenants which gets you to a 9.1%
yield. On top of this, there may be
scope for a negotiation on price as the property has been on the market for
over a year.
We hope you find our posts useful. If you would like some advice with your
potential investment, please come and see us in our offices (6 Bank Street,
Penicuik), call us (01968 674601) or email either of us (lettings@thekeyplace.co.uk).
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