Same sort of numbers and equally attractive if you're looking to build a portfolio of bread and butter renters with a decent yield and steady capital growth given time.
This one is up with our friends down the road at Proctors Estate Agency here in Darwen.
Take a look:
http://www.rightmove.co.uk/property-for-sale/property-38488321.html
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| Sarah St Darwen -Bread and Butter Renter - 10% Yield |
When I take a look at the back office stats... I can see it's been on the market for almost 2 years. Why? is anyone's guess, but it's likely to be one of three things given it seems to be priced right.
- It could be that they are pricing it to attract attention to achieve a good sale price? a good strategy, but not really Proctor's model. And in any case it should have gone by now.
- Perhaps the offers they're getting aren't high enough to clear the vendor's mortgage? this is quite common. But on this one, given they only paid £20k for it back in 1998, it's not too likely (unless they remortgaged back in the peak?)
- The obvious one is.... what's wrong with it, or how much needs spending on it?
Well, we're only guessing as to why it's not sold and often best way to find out why is to simply go have a look and ask the agent why it hasn't sold? Proctors are pretty straight up when it comes to answering questions like this.
You can see from the pictures it will probably need a few bob spending on it, but it mostly cosmetic. I'd put a shower in the bathroom too.
But finished nicely, the likely rent is around £425-450pcm, which means a nice yield of 10% +/- with steady capital growth.
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| 10% Yield |
You know where I am... bob in for a coffee (I only do nice coffee) and a chat, anytime.
01254 760660
Paul@AinsworthLordEstates.com
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