This particular property I would recommend for a great first time buy for you new investors:
It’s a simple apartment situated on the Southbridge Development, which is very popular for landlords and tenants. Location wise you can be in the town centre in just a few minute’s walk, and there also easy access to the A45 and the M1 road links.
It’s being advertised at a very reasonable asking price of £133,000 with the estate agent in Northampton Taylors. There is no chain so it could be quite a straight forward purchase too.
I would suggest a rental figure on this one of £650.00 – £695.00 pcm, so if we looked at your annual yield it would be 5.8% – 6.2%. As I have mentioned before make sure you do your research though, as it’s a leasehold property you will want to know the term of the lease, what charges there are going to be for the ground rents and service charges etc and the estate agent should be able to give you all of this information.
Check out the link for more information…