It didn’t take too long to come across this lovely 3 bedroom house in Latchford.
This property has so much potential. Although it is on the market for £99,950 with Ashton’s in Stockton Heath, I believe it would go for around £90,000.
Now let’s
look at the street.
The last property to sell on that street was 18 Mersey Walk, which sold on the 28th April for (wait for it) – £137,000. This is also a 3 bedroom house very similar to the one I’m writing about.
Without actually viewing the property, so just going off the images, I believe it needs around £10,000 - £15,000 worth of work going into it. So, if the property was bought for £90k + £15k refurb costs and extras you are looking at an estimated total of around £105,000.
A property like this one – done up to a
rent-able condition – can let for around £600pcm. This will achieve and annual yield of around 6.8% - not bad at all.
Looking at the history of the street we can see that by doing the works on property you will be adding a lot of value, especially when the last 3 bedroom house sold this year at almost £140,000.
So, not only does this property offer a fantastic yield, it has great potential for future growth. In Warrington I find that 3 bedroom houses are as popular as 2 bedroom houses… the only difference is that 2 bedroom houses can be picked up very cheap, so it’s rare to get a 3 bedroom house at such a steal. Once you find the right tenants (usually a small to medium family) you tend to have them in for life, as their kids work up the different stages of education.
Click here to view this property
Having found our blog and one of our deal of the day posts, you probably know a little bit more about the Warrington property market and about me. You might be coming to the conclusion that you'd like to start investing, or even growing your portfolio and have found my blogs to be packed full of useful information - all good so far then.
So why wait?
Wouldn't it be great to 'jump the queue' and get the inside info as soon as it's available? We constantly check the market and keep an up to date list of potential buy to let properties in the Warrington area, and we even have a database should you wish to consider a selection of options.
If you want to be the first to know about the next Warrington investment opportunity, call me on 01925 235338 or email me on manoj@hamletwarrington.co.uk. 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.
No comments:
Post a Comment