Monday 21 December 2015

1 bed maisonette in Chelmer Village with a 5.5% yield!

Good morning folks, are we all getting ready for the Christmas countdown? Believe or not, people are still wanting to view property at the moment, so no rest for the wicked!

For those of you who are still property hunting, this little number caught my eye. It has the potential to snare you a fairly decent annual yield of 5.5%!

It is located in Chelmer Village, great for main road links, properties always rent really easily in this area. We just put a 1 bed flat on the market last week on the Wednesday, it was let by the Friday, very telling stuff. 

Now, the details say that the property is in need of some improvement, I can see that the kitchen is a little dated, but there is no picture of the bathroom, this could mean that it is one of those colourful suite's, which may need to be addressed. Saying this though, the asking price does seem reasonable at £145,000. When you look at the rental price of £675 pcm, this is where we could be looking at a 5.5% annual gross return!

If you would like to pop in for a chat to discuss the property market at all and what you should be buying for investment, let me know when and I will get the kettle on!


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