This weeks deal of the week I have this property with potential, it is on the market with Cornell’s for £70,000, see why they have to say about it:
“A spacious studio apartment situated within close proximity to Northampton train station and town centre. This is an ideal property for those looking to make their first purchase or those looking to make a great investment. The property has access to a communal outdoor area, perfect for those summer evenings. We really advise viewing this property as it will sell quick!”
PLEASE BE AWARE THIS PROPERTY IS LEASEHOLD AND IT IS VITAL TO LOOK FURTHER INTO THE DETAILS OF THE LEASE, DETAILS AVAILABLE BY CONTACTED THE AGENT DIRECTLY. Please do your research.
“Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.”
The property is in good condition and could be rented how it is, however there is remove for improvement to make it pop. I feel if you was to change some tiles and decoration which shouldn’t cost you any more than £5000, you could be all in for only £75,000.
On a property like this, in such a popular rental location of Northampton, being walking distance from town and the train station, I would feel confident to say you could rent this out for £525 pcm. Achieving these figures means that you could get a yield of 8.4%!! WOW!!
Please bare in mind if the lease requires renewing this would increase the money in and reduce the yield so please do your research prior to this.
If you like the look of the deal and want to do some further investigation please use the link below to find out more