Saturday, 28 March 2015

7% Yield on Devon Street, Whitehall Area Darwen. A good investment?

7% Return on Devon Street, Whitehall, Darwen

Well, you might have noticed this one on the market with our friends at YourMove in Darwen. It's been on a while (since May 14) and it makes me wonder why it hasn't gone yet.

Stale isn't always bad...
It always gets my attention when a property becomes 'stale' after being up for sale too long. But there could be many reasons for this - and not necessarily bad. This can happen for many reasons - and some are often out of the agent's control.

That aside, it's in the right area, and granted it's not a real bargain as such, but nonetheless it's worth looking at.

Well anyway, here's my twopenneth worth.....

Firstly, and as I've already mentioned, it's in one of the best areas of Darwen - the Whitehall area.

Rental Demand is the stongest ever in Darwen
Demand is good for many reasons... it's just one of those places people want to live. There are good schools nearby, access to Bolton & Manchester are pretty good, and of course you are close to a lovely Park and on the edge of some beautiful countryside.

Whitehall Darwen 7% Return on Investment (Gross)

Rental Demand is stronger than ever, we all know this. And especially in this part of Darwen.

And given prices are on the up, now might be a good time to jump in and make an offer on this one. I realise this property isn't a fab bargain right now, but lets be sure of one thing.... prices are going up, not down, and demand in Darwen is stronger than ever. Whether this will change after the election is anyone's guess, but even then any slow down will be temporary, I'm sure.

So if you are looking for a medium - long term investment, I don't think you can go far wrong with this one, or anything similar in this part of Darwen.

So the numbers....
Let's say you ended up paying £80k for this, and you got £450pcm rent on it. This would give you a near 7% return on your money. Not bad eh? (And pretty safe too).

If you want to have a chat, or second opinion, about this or any other property you might be thinking of buying, why not give me a call or bob in for a coffee? Beware though, I can talk property all day long, especially when it's on my patch.

You know my number... 01254 760660

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