This 3 bed semi is situated on Alexandra Road, Palfrey, Walsall, WS1. On the market with Visum (0121 411 0838). Priced at £75,000. Full details can be found by following the link below:
Now first thing first. I’m not sure what your thoughts are on these on-line agents but I’m not a fan whether buying, selling, letting out or looking to rent. To me there are more cons than pros which sway me to look away the moment I see a property with a so-called on-line agent. Anyway, that topic’s for another day….
The opportunity I saw on this property was for someone looking to purchase a bargain on a well-built property in an established community which is sought after by both renters and buyers alike. Ideal for keen do-it-yourself handy investors or someone with good contractors who are able to turn it around for less. From the description and pictures it seems the property will need gutting out with a new kitchen, bathroom, heating and windows.
I would say that a diligent investor could comfortably do all of the above work and finish off the decoration easily under £15,000. Negotiate the right price and taking the top spend you could end up making a yield of around 6.6% when complete. At the height of the property market these properties on this street was selling for around £135,000! In today’s market you would hope to achieve around £105,000 (depending on the finished article maybe more).
If you require any assistance buying in the local market please do not hesitate to pick up the phone or email me.
Phone: 0345 257 9850/ 01922 637672