Buy to let property in Chelmsford with Potential...

Good morning, been doing a little bit of property searching this morning and came across this property, which I thought was worth putting out there for you all to see. It needs a little bit of imagination with the decor, replacing the carpets and kitchen would make a world of difference.
http://www.rightmove.co.uk/property-for-sale/property-52090165.html 

Located on Chester Place which is just off Broomfield Road, still walking distance of the City centre & train station. Great for investment purposes as it will appeal to wide rang of people. It has come to the market with an asking price of £147,500 with Beresfords. Bearing in mind there are some works that would need to be done, if you over-estimated a spend of £10k, you still can't go far wrong.

We have rented similar properties to this for around £675 pcm, so even taking into account the improvement spend, which brings the total investment up to £157,500, you would still be looking at an annual return of 5.1% (gross). 

If you would like to pick my brains about buying for investment purposes, pop in for a coffee and we can have a chat!