A 3 bedroom terraced house on Station Road, Walsall, WS4. The property is being marketed by Urban Link (01922 716 025). A very nice spec here and one which could be left as it is. However, I would urge changing certain aspects of the decor and the flooring at some point. Marketed at offers of £89950.
A 2 bedroom terraced house, West Street, Walsall, WS3. The property is being marketed by Purple Bricks (01926 267 659). A good enough spec which allows the property to be let as it is. Marketed at offers of £85000. There is some capital growth here at just under 50% in the last 13 years.
A 3 bedroom end terraced house, Neale Street, Walsall, WS2. The property is being marketed by Dixons (01922 312 792). A pleasing spec, which looks like it could be let as is based on the available photos. Marketed at offers of £90000. Interestingly, the property has been reduced by 10% in the last 3 months.
This one caught my eye as the post states, ‘Attention investors 7.50% rental return can be sold with current tenant”. Well, if the yield is correct that would make the rental in the region of £530.00 pcm. Which I hasten to add is well above average for a property of this type in this area. However, considering the photos, the spec of the property is well below average. So, if you are thinking of taking a punt on this one I would take it with the sitting tenant…Well, why wouldn’t you? The converse would be to market it as it is and to be brutally honest the only interest you would likely get would be from benefit claimants and that would mean a rental of £454.00 pcm (Based on the maximum Local Housing Allowance entitlement) leading to a yield of 6.41%.
Renting used to be a dirty word in the 60’s and 70’s. You either lived in a ‘Rigsby Rising Damp’ style bedsit with wood chip on the wall and a coin operated electric meter that buzzed in the night, or you lived in a council house. In the latter part of the 20th Century, the British were persuaded that rent payments were ‘wasted money’. However, owning often makes less financial sense than renting and as the rate of home ownership is starting to drop substantially, as we roll the clock forward to today, there is no stigma at all to renting.. everyone is doing it. In fact, of the 269,323 residents of Walsall, 96,418 of you rent your house from the local authority, housing association or private landlords – meaning 35.8% of Walsall people are tenants.
Well, this one is right out of the bargain bin and by the looks of the photos with good reason. No point in sugar coating this one, the required upgrades are blindingly obvious. However, the upside is that it is in the heart of a popular area for rented accommodation and the rewards are a very nice yield as well as a potential in capital growth.
The location additionally benefits from being within easy reach of junction 9 of the M6 and in the vicinity of other major transport routes leading to Walsall, Willenhall and Wolverhampton town centres. There is also a wide selection of schools within a mile including the Grace Academy.
A deceptively large end terraced house on the outskirts of the Beechdale estate in Walsall. The area has gone through some major redevelopment over the last decade or so, which has certainly helped in raising the area’s profile. The décor looks very nice and unless major changes are required, I would advise leaving as is. The flooring looks hard wearing and doesn’t look like it requires changing. Unfortunately, there is no photo of the bathroom, which seems a bit odd, but as I always say, that’s what viewings are for. However, the piece-de-resistance of this little baby is the huge garden. I mean, it looks like you could build another house on it! The location benefits from being within easy reach of the Reedswood Retail Park and junction 10 of the M6 and in the vicinity of other major transport routes leading to Walsall, Willenhall and Bloxwich town centres. There is also a wide selection of schools within a mile or so radius including the Mirus Academy.
Do you remember the ‘Right to Buy’ scheme my Walsall Property Blog readers? The ‘Right to Buy’ (RTB) scheme was a policy introduced by Maggie Thatcher in October 1980 which gave secure council tenants the legal right to buy the Council home they were living in with huge discounts. The heyday of Council ‘Right To Buys’ was in the 80’s and 90’s, when 1,719,368 homes in the country were sold in this manner between October 1980 and April 1998. However, in 1997, Tony Blair’s New Labour reduced the discount available to tenants of council houses and the numbers of properties being bought under the RTB declined.
So what does this mean for Walsall homeowners and landlords? Well quite a lot in fact!
Another attractively priced traditional terraced house. I would suggest before letting that the décor be upgraded and also changing the flooring to a hard wearing type. The location is ideal being about two miles from M6 junction 9 and in the vicinity of other major transport routes leading to Walsall, Wednesbury and West Bromwich town centres. There is also a wide selection of schools within a mile radius including Palfrey Junior School and Joseph Leckie Academy.
As the post states, ‘Attractively priced for a quick sale’. A lettable spec as it currently stands, but I would suggest making some improvements to the flooring and décor. The location is ideal being about a mile or so from M6 junction 10. There is also a wide selection of schools within half a mile radius including Lodge Farm junior and mixed infant school and Willenhall E-ACT Academy.
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