3 Bedroom Gem in Warrington producing 7% yield

Property update (13/06/2016):

I have just been informed that the Vendor will be happy to take £90k for this property which then brings it to the 7% yield if you rent this property out for around £525 pcm

 Click here to view property on RightMove

Good Morning, I hope everyone has had a great weekend, did you spot our articles on the Warrington Guardian website yesterday?

So as you know its been a while since I shared deals in Warrington, this doesnt mean there are no deals it means I have been flooded with emails and enquries from landlords in Warrington to give them my opinion on property deals they have spotted. 

However, I would like to share this beautiful 3 bedroom house on Cabul Close with you. This went on the market at £100k and has recently been reduced to £95k.  The property comes with the big range cooker and hood. All the bedrooms have recently had new radiators installed. 

This house would be ideal for a family, as it is close to schools, plenty of local shops and only a short walk to Warrington Town. Once you have the right tenant in a house like this they tend to be there for a long time. A house done to this standard will let for around £525pcm which would bring in a yield of around 6.6% at the selling price of £95k - Not a bad return on your investment.

I have done some research on the history of Cabul Close and the most a 3 bedroom house sold for on this street is £96k back in 2005 a couple of years before the crash. The last house sold on this street was a 4 bedroom house in Feb 2015 and this sold for £79k. 

From an investment point of view this house is priced slightly to high as there is no room for growth - Remember, as an investor you make your money on the purchase price. 

To achieve that 7% yield the property would need to sell at £90k

If you are a landlord or thinking of becoming one for the first time and you want to read more articles like this about the Warrington Property Market, together with regular postings on what I consider the best buy to let deals in Warrington (out of the many of properties on the market, irrespective of which agent is selling it) then feel free to get in touch!

Email me on manoj@hamletwarrington.co.uk or call on 01925 235338. If you are in the area feel free to pop into the office we are based on 6 Bankside, Crosfield St, WA1 1UP. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

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