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 (firstname.lastname@example.org) pop into the office for a chat (6 Bank Street, Penicuik).
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