The buy to let opportunity from the Penicuik Property Blog today is one you need to go in with your eyes open to.
It is a 3 bedroom, upper villa. The property has a large lounge room, a modern
fitted kitchen, 3 good sized bedrooms bedrooms, a modern shower room and a garden
to the rear.
The property is in excellent decorative order throughout
and the kitchen and bathroom look like they have been recently been
refurbished.
However, a few points to note are that it is an upper
villa, it has a shower room rather than a bathroom and it is on a main road, all
of which will reduce the people interested in letting the property.
In addition, it is worth noting that the property has
been on the market since June which is a long time in this market.
Let’s do the maths.
This house is on the market with Mov8 for a fixed price of £136,000. A property like this in this area should rent
for around £750 pcm which give you a yield of 6.6%.
Although the property is on for a fixed price, I suspect that
there may be scope for negotiating the price given the draw backs noted above
and as the property has been on the market since June .... a price of £128,500
gets you to a yield of 7%.
If you would
like any advice on buying a property to let, feel free to give me a call 01968
674601, email me on (news@thekeyplace.co.uk) pop into the office for a chat (6
Bank Street, Penicuik).
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