The Penicuik Property Blog’s buy to let opportunity is a
house in Eastfield Drive, Penicuik that needs a wee bit of TLC to maximise its
value.
It is an end terraced, 2 bedroom house. The property has a lounge/dining room, a
fitted kitchen, two double bedrooms with built in cupboards and a bathroom with
a shower over the bath. It has gas
central heating and double glazing.
Outside, there are gardens to the front and rear and on
street parking.
A few points to note/check out. The house looks like an older person has
lived in it for a long time without much modernisation being done so it will
need a bit of TLC. It will need
re-decorated and re-carpeted throughout as well as a new bathroom. The kitchen looks ok from the photos but
worth checking this out when you view the property. Finally, rather oddly, it looks like the
lounge/dining room radiator has been removed .... obvious from the different
coloured painting on the wall behind where the radiator used to be.
Running the number on this one. The flat is on the market with Struart &
Stuart for offers over £112,000 so lets say it goes for £120,000. You will need to spend a bit of money on the
TLC, let’s say this comes to £5,000.
This brings the property costs to £125,000. Properties like this in this area should rent
for around £725 pcm ..... we have just rented a similar one for this amount
..... which give you a rental yield of 7.0%.
If you would
like any advice on buying a property to let, feel free to give me a call 01968
674601, email me on (robert@thekeyplace.co.uk)
pop into the office for a chat (6
Bank Street, Penicuik).
#penicuik
#property #buytolet #realestate #ownermanagedbusiness #retirement
#retirementplanning #energyefficiency #privaterentedsector #prs
#privaterentedsector #propertyinvesting
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