I thought I would end the week with a deal I spotted on Rightmove this morning. This 2 bedroom terraced house is on Allcard Street, Warrington and is advertised with out friends over at New-Way Homes.
Iv done some research on the street and the last property to sell there was in 2014 it was a 2 bedroom and it sold around November. Now it sold for £57,500 click here to see the property there is only 1 picture of the front of the house so we cant get an idea of the state of the house.
However there is another house that sold on the same street a few months previous in October 2014, another 2 bedroom terrace and it went for £58,000 plenty pictures for you to see. click here to see the property
Anyway lets get back to the one thats for sale.. it is on the market for £74,950 and its ready to let. From the images it looks clean and tidy it has 1 double room and 1 single, ideal for a young couple or a small family (couple + child). This would rent for £475 pcm.
Anyway lets get back to the one thats for sale.. it is on the market for £74,950 and its ready to let. From the images it looks clean and tidy it has 1 double room and 1 single, ideal for a young couple or a small family (couple + child). This would rent for £475 pcm.
Now your wondering where i got the 8% yield from.. well if we go back to the research and take a look at the second property i posted, if that house was to be emptied i believe it is in a similar state to the one that we are discussing now is in. It sold for £58k ok there might have been a few thousand pounds worth of work that may have had to go into the property however i believe if you went in with an offer of around £70k i think they would snap it up.
Give New-Way Homes a call and get a viewing booked.
As always feel free to drop me a email on manoj@hamletwarrington.co.uk if you have also spotted a property online and would like a second opinion. Give me a call on 01925 235 338 if you would like me to come along to the viewing, an extra set of eyes always helps.
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