Tuesday 2 September 2014

Chelmer Village Maisonette with A Good Return

This property caught my eye on the websites, a bit different from the usual run of the mill 2 bed apartment. This maisonette has got 2 parking spaces and it's own little garden as well!

Another property that doesn't look like it needs any work as well, so less money to lay out initially, which is good, just need to buy it. 

It is on the market for £185,000 and I would expect this to rent out in the region of £795 pcm. Based on these numbers, without haggling on the asking price, you would be looking at a 5.1% gross yield. If you can get it slightly cheaper, it will be even better.

This won't be around long, an investor who came in to see me a few weeks ago for some advice has managed to buy a similar property on the Chelmer Village estate which we recommended him, (which is going to produce him a 5.2% yield). He missed out on a few though before he got the one he did because of the amount of activity there is in the sales market. 

If you would like any information on buying to let, please give me a call 01245 330500, or drop me an e-mail stephen.frost@martinco.com

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