Todays property find is one which I feel may have slipped through the net for many property investors, especially when you see it has been advertised with Cumberland Estates since July.
Three bedroom properties are an excellent investment, especially if all of the bedrooms are double bedrooms, like this one is. There are just more options for renting them out. A young couple, someone with a child, options for students or sharers looking to live on a budget. The list is endless.
This particular property appears to be in a reasonable condition. The top floor bedroom is huge and could be split into two, creating a 4 bedroom home and maximising your investment. It’s also close to the city centre and bus station. We know of several landlords who already own in this area and have just recently rented out two houses on neighbouring streets with ease.
If you rented to a family, you’d expect to achieve £575 pcm which gives you a potential gross return of 6.2% (purchasing at £115,000). If you rented it houses sharers or students, expect higher!