Happy Monday everyone!
Today I bring to you this do-er up-er……
Great location of Northampton, Melville Street is in Abington, so close to the town centre, Welly Road, Hopsital etc.
But… it is going to need a bit, well quite a bit of modernisation judging by the photographs!
It’s for sale with WH Brown estate agents, and has a guide price of £120,000. I would say to put aside around of £20K to allow for the works necessary, and of course you could put some hours in yourself to keep costs down!
Depending on what you end up paying for this property and how much you end up spending on the project, will depend on your yield, but let’s take the asking price and spend of £20k you could have a yield of over 6.0% as rents for these properties in a refurbished condition are around £725.00pcm.
Although this is a pretty large project, and will not suit everyone the potential on this property could be worth it for someone who likes a challenge!