A three bedroom end terrace house, Wolverhampton Street, Wednesbury, WS10. The asking price is in the region of £90000 with Lovett & Co Estate Agents of Lichfield (01543 526 007).
Check it out here:
Ok, so Lovetts are marketing this as an investment opportunity for rental. It caught my eye for this very reason. However, on closer inspection I was a little disappointed at what I was dealing with.
In total, there are only five photos…Four external and only one internal, the front reception room. Based on what I can see, it doesn’t look too bad. But, it’s what I don’t see that is more intriguing and why the paucity of internal photos?
Based on the property information the sizes of the rooms are pretty much typical of this type of terraced house. It does appear that there is gas central heating as “radiators” are mentioned in the property particulars, but nothing more specific than that. Clearly, The décor is unknown quantity, but if the rest of the property is similar to the front reception room, then it may well be passable. But I do not like to assume these things, facts are of more interest to me.
Does the property have double glazing? Again, I do not know. You are unable to tell anything from the one internal photo and nothing is mentioned in the property details either, but at least the front door is UPVC! Is there a shower in the bathroom? Once again the property details fail us.
The location is a positive at least. Not far from Walsall, Wednesbury, Darlaston and Wolverhampton town centres and very close to the major road networks including the Black Country Route and M6.
Look, I would love to wax lyrical over this particular property, but I haven’t got the opportunity to because the manner in which it has been presented. The property is being marketed as an “investment” opportunity, but the opportunity cannot be properly considered with less than half the information available. So, as I always say, “That’s what viewings are for” and no more so than this one.
So, let’s get stuck into the rental investment side of things. Lovetts reckon the achievable rental income is £500.00 pcm. Without seeing more of the property I couldn’t possibly confirm or deny that this is an accurate monthly rental. However, for the sake of argument, let’s just roll with it. This means that at the stated pcm and if the property sells at the asking price a rental yield in the region of 6.66%. Seriously, three sixes! Maybe someone is trying to tell me something?! Interestingly though the property has shown some capital growth and in the last ten years the asking price has increased by almost £10000.
If you wish to discuss this property further and have a detailed discussion about my opinion and thoughts of whether this is the right investment for you, please feel free to get in touch. I am happy to share my opinion on any other property or properties you are thinking of purchasing. Just send me the link.
Phone: 01922 311016