It’s another sunny day here in Northampton and I have a two bedroom property to share with you and ripe for the picking……..
These properties are ex local authority houses in the Kingsley area of Northampton, knowing them well should mean you pick up a property where there the rooms are of good proportions and you often get a good amount of outside space too.
Looking at the photos some refurbishment is going to be required to bring it up to date and if you want to attract good tenants, I would say you’d be looking at adding a new kitchen and bathroom, redecorating and replacing the carpets. The description does say the property has double glazing and gas radiator heating, so that’s a start!
Taylors are the selling agent and are asking £150,000. I would suggest a rental valuation in the region of £700.00 – £750.00 pcm, depending on the standard of the refurb.
It’s difficult to say what your net yield would be, as it depends on what you end up paying for the house, and then how much you spend on the project, but what I would say is; always work out your potential costs and yields in advance and do your research. Anything between 5-6% would be a good return for a Northampton property at the moment.
Here’s the link to Rightmove, where I saw it advertised….