As we start the working week it’s wet and cold outside, so I’m staying in and hunting the property portals for buy to let deals, and I have come across this ready made investment for you:
It’s a first floor, two bedroom apartment in the popular Southbridge area of Northampton. Laminate floor throughout lounge and kitchen, tiled bathroom floor and neutrally carpeted bedrooms. Comprises one double, one single, open plan kitchen/lounge and separate bathroom with shower over bath. Allocated parking available.
Looking at the description and photographs on Rightmove it’s being sold with a tenant in situ paying £675.00 per month and the property looks really good although these photographs appear to show the property before it was tenanted so they may well be old photographs.
Belvoir are the selling agent, who have priced the property at £139,995, so if we work out figures on the current rent price of £675.00 this could generate you a gross yield of 5.8% straight away. however when the tenancy is up for renewal it would be worth a rent review, which could increase your return.
There are many more properties out there coming to market, which would be a suitable buy to let investment, so if you see a property that you like and would like some advice on it suitability for a rental property, please feel free to get in contact with me on here or direct at the agency Northwood on 01604 607080.