Nice little 8%+ yield on Hindle St Darwen from Debs at Ainsworth Lord Estates Agents in Darwen

We work together all day, yet some of the best property chats we have happens in the evening..... and Debs was telling me about one of her properties she has just reduced. So needless to say I have to take a look at it..

It turns out she has a nice little deal on Hindle St in Darwen, and it's just been reduced by 5k!

Here's the link to it on Zoopla...

Hindle St Darwen Click Here for details

8%+ Yield Plus Healthy Forecast for Capital Growth

Now, not only is this a nice tidy refurbed property, it's also one of those that would get snapped up pretty quickly if it was to come onto the rental market.(Well I might like to add some 'personality' feature colours just to help it along a little).

Given it's a 3 bedder in a decent area - classed as Sunnyhurst, the demand for this size of property in the Sunnyhurst Area couldn't be better.

Sunnyhurst is one of the best areas in Darwen and this part of town in particular has had a lot of regeneration happen over the last 6 years or so.

This area used to be purely traditional terraced stock, but as part of the Darwen Regeneration Programme a lot of the old sub-standard housing stock was knocked down to make way for more modern and efficient housing
with gardens and off-road parking etc..

Regeneration of Hindle St & Queen St Darwen

Not only has this regeneration cleaned the whole place up, but we've seen a definite positive impact on house prices in the immediate surrounding areas.

(For example on neighbouring Nicholas St we saw prices jump around 20k in some cases.)

I expect this trend to continue for the foreseeable future, on top of the natural increases we expect to see with house prices in Darwen

The new Houses they have built are selling for around £130-£135k. So when you think you can pick up a good-sized traditional terraced for half that, it makes sense to pay attention, and as none of the new-builds are going to go for rent due to private home ownership and shared ownership, anyone who buys and holds will see a healthy rise in price in the mid-to-long term.

Now, anyone who has ever lived in a new build house knows only too well that you can't swing a cat in them (not that you would, but you know what I mean). They're compact at best is what I'm saying ;-)

Can't swing a cat in one of these

However with traditional houses the room sizes etc are more generous, and demand for traditional houses is very strong - not only from buyers, but renters too.

So what are the numbers?

Well you need to offer over £70k for the property Debs is selling.

So... Assuming you paid £70k for it, and then we got you a rent of £495 pcm (per calendar month) that would deliver a gross yield of  8.5% - nice and bonnie! but assuming we only got say £475 you would still be getting a 8.1% gross yield. How's that sound? Not bad eh?

PLUS as a property to buy and hold, you would without doubt, see some generous capital  growth too.

My Conclusion: BUY!

But if you want to chat some more about this, why not give either Debs or myself a call on 01254 760660, or bob in for a coffee. Our office is in the town centre opposite Boots the Chemist and Your Move's office.
or ping either of us an email:

Paul@AinsworthLordEstates.com
Debs@AinsworthLordEstates.com