I was coming back from viewing a property with a landlord
of mine when I spotted the ‘For Sale’ sign outside this block of flats.
The property is a 2 bedroom flat in Fairfield Place. Fairlfield Place is a fairly modern
development off Thornhill Road near Forth Valley College so it is within
walking distance of the town centre and the railway station, perfect for the
commuting tenant.
This apartment has a good sized lounge, a fitted kitchen,
two decent sized bedrooms and a bathroom with a bath and shower over it. There is Upvc double glazing but on electric
heating. There is ample parking and
views onto Victoria Park.
Let’s do the maths.
The asking price for this property, which is on the market with Clyde
Properties, is offers over £57,000. The
property has been on the market for some time now and the price was lowered in
early November 2015 so let’s say it goes for £62,000.
Based on our recent experience of renting this type of
properties in this area, you should get a rent of £400 pcm on this property.
So that gets you to a yield of 7.7%.
If you would
like any advice on buying a property to let, feel free to pop into our office
at 29 Upper New Market Street, Falkirk for a chat, give us a call 01324 628332
or email us on (robert@thekeyplace.co.uk; linda@thekeyplace.co.uk).
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