I was on my way back from a property inspection when I
spied that this family home was for sale in Pireyhill Gardens. Now Pireyhill Gardens is a good place to have
a buy to let property of this type because it is a highly desirable area that
is popular both with families and commuters.
The property is a 3 bedroom semi detached house flat in Pireyhill
Gardens. Pireyhill Gardens is just up
from the High Station near Princes Park so it is handy for the town as well as
the train station.
This house has a good sized lounge, a separate dining
room, a fitted kitchen, three decent sized bedrooms and a bathroom with a bath
and shower over it. There is Upvc double
glazing and gas central heating as well as a garage and gardens to the front
and rear of the property. The house
looks in lettable condition other than for a wee bit of re-decoration as the
current decoration is a bit dated.
Let’s do the maths.
The asking price for this property, which is on the market with Slater
Hogg & Howison, is offers over £115,000.
The property has just come on the market so let’s say it goes for
£125,000. Taking into account £5,000 for
re-decoration etc, that gets you to a total spend of £130,000.
Based on our recent experience of renting this type of
properties in this area, you should get a rent of £750 pcm on this property.
So that gets you to a yield of 6.9%.
If you would
like any advice on buying a property to let, please pop into our office at 29
Upper New Market Street, Falkirk for a chat.
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