A one bedroom terraced house on the prestigious and popular Tamebridge estate in Walsall. The area is very high profile area for renting and rental prices tend to attract a premium on the estate. I like the “Compact and bijou” style of the property and the spec is nicely presented. Even though the property has double glazing, the heating type is not mentioned and although there is a gas fire in the lounge, the heating is probably electric considering the panel heaters on show. Parking is stated as off-road. It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall and West Bromwich town centres.
The current asking price is £95000 and based on a rental of £495.00 pcm will return a yield of 6.25%. However, I feel this property is over priced at £95000. How so? Consider this. Here’s a similar property on the same estate that is selling for £70000 http://www.zoopla.co.uk/for-sale/details/32116299. It has been on the market for 4 months and has even been reduced twice! Additionally, it may not be as higher a spec in terms of decor, fixtures and fittings, but overall it is a larger property, detached and has gas central heating. Just something to think about when negotiating!
Currently on offer with Purple Bricks (01926 267 659) click here for details http://www.zoopla.co.uk/for-sale/details/40817062 or give them a call.
I’ll will gladly be of assistance should you wish to consider this investment opportunity and would be happy to provide any advice on any other property you are thinking of investing in.
Phone: 01922 311016