Today’s opportunity from The Penicuik Property Blog is a three bedroom upper villa on John Street, Penicuik.
The property has a large lounge, a fitted kitchen, three bedrooms (two double and one single and a bathroom. It has gas central heating and double glazing.
Outside, there is a garden area to the rear and on-street parking.
The property looks as if it is in good condition for renting subject to putting in the safety stuff required.
This property will not be every tenant’s cup of tea because it is (I) an upper villa so, for example, families with young children and older people are less likely to be interested in it and (ii) it is on a main road (John Street). However, these are items that can be factored into the price which may well make it an attractive investment ….. All I advise is that you go into a potential purchase of this property with your eyes open.
Running the number on this one. The flat is on the market with Clyde Properties for offers over £120,000 so lets say it goes for £130,000 (I suspect it will not sell quicky). A property like this in this area should rent for around £800 pcm which give you a yield of 7.4% which is higher than for most properties reflecting the location of the property as well as the potential for longer void periods.
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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