Buy to Let Bargain Yield of 9% – 10% Northampton

A self-contained one bedroom ground floor flat, which does require some cosmetic upgrading and refurbishment, but well worth a look!

It’s located in Kingsthorpe with amenities easily accessible by foot including shops and pubs, but may also appeal to the student let market as its walking distance to the Northampton Universities Park Campus.

The asking price is £64,950, and as I mention there is a need for some money to be spent with some upgrades to get it to a lettable condition, ideally with a new kitchen bathroom and redecoration, but this shouldn’t set you back too much.

It is leasehold property and we have been informed of the following:

  • Tenure: Leasehold
  • Lease Start Date: 28/11/2003 (approx.)
  • Original Lease Term: 99 year(s)
  • Lease Term Remaining: 86 year(s) (approx.)
  • Service Charge: £tbc
  • Ground Rent: £100 per annum (approx.)

If my memory serves me well, the service charge isn’t silly.

So what you can expect to achieve rental wise.  When it’s been ‘done up’ condition you could expect between £500.00 and £550.00 per calendar month.  So this could give you a yield of between 9.0% – 10.0% before costs!

Here’s the Rightmove link….

http://www.rightmove.co.uk/property-for-sale/property-56667802.html

and give us a call Northwood Northampton on 01604 607080 to arrange a viewing.

I would love to hear your views