Friday, 12 September 2014

Potential gem here on Olive Lane, Darwen. Or is it? Darwen's Propety Expert, Paul Ainsworth Lord takes a look..

Noticed this one came on the market a few months ago in June at £45k. Owch.. bit on the high side for my liking, but might be worth a viewing now it's been reduced?

Hunters Estate Agents In Darwen offer this property on Olive Lane
Little Diamond or Ruby? Right here in Darwen

But as they have just dropped the price by 5k it shows a good sign that the vendor is keen to see a sale (potentially). So at £39k it's now worth a look.

Having checked out the other pictures on this listing, I see that it will need a bit of work to bring it up to a decent standard so to attract a decent tenant, so make sure you take a count of this when doing your calculations.

A yield of 8% is possible with some careful number crunching and cost control.

You need to bear in mind that rental properties in this area can be tougher than normal to shift. But the demand in Darwen overall is very strong. So this is why its important they are finished off to a good standard to compensate. Then priced right and marketed really well with a good agent you ought to have a decent tenant before too long.

I'd be more than happy to have a chat if this one wets your appetite. Or call in to my office for a coffee (we only do nice coffee). We're just in the town centre opposite the Darwen YourMove office.

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