Since I’m on the updating bandwagon, I thought I would have a look at some old buy-to let deals just to see how they’re doing these days. I am happy to report that the majority that I have revisited, are no longer on the market. This one I wrote about on 18/02/2016.
Great news, it’s still on the market and even better news it is available and at a discounted price. Reduced by a cool 9K, not to be sniffed at. If you haven’t already, why not go and have a look?!
The new asking price is in the region of £80000 with Lovett & Co Estate Agents of Lichfield (01543 526 007).
Check it out here:
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 an 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.
Lovetts reckon the achievable rental income is £500.00 pcm. 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 7.50%.
Let me know what you think or whether this is the right investment for you, either way please feel free to get in touch.
Phone: 01922 311016