I am going back in time for today’s buy to let
opportunity in The Falkirk Property Blog but at a yield of 11.5% it is worth
it.
When I am looking for buy to let opportunities on the
sales portals I often look at the latest properties that have been put on but
today I did something a wee bit different and looked at the properties that had
been on the market for a long, long time.
Today’s buy to let opportunity was first marketed in October 2014; yup
over 2 years ago.
The property is a top floor 3 bedroom flat in Haugh
Gardens. Haugh Gardens is a cul de sac
off Haugh Street which is of Carron Road. The flats is in a 1950’s block and it
is an ex Council property.
This apartment has a good sized lounge, an almost fitted
kitchen with a balcony off it, three decent sized bedrooms and a bathroom with
a bath and shower over it. There is double
glazing, gas central heating and off street parking. The flat needs a wee bit of TLC – let’s say
this will cost you £3,000.
The asking price for this property, which is on the
market with Your Move, is offers over yesterday. As I said earlier, it has been on the market
since October 2014 so let’s say it sells for £52,000 which, once you add in the
£3,000 TLC spend, gets you to a total spend of £55,000. Based on our experience of renting this type
of properties in this area, you should get a rent of £525 pcm on this property.
So that gets you to a yield of 11.5%.
If you would
like to explore how we can help you with your property investments, or should
you require any advice about investing in the Falkirk property market, wish to
enquire about our Investment Analysis Reports, Property Sourcing, Residential
Lettings or Property Management services, please do not hesitate to pop in an
see us in our new office at 6 Vicar Street, Falkirk or contact us by phone on 01324
469840 or by email at falkirk@thekeyplace.co.uk.
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