Happy Bank
Holiday to you all! I know it’s a bank holiday but I thought I’d share this bargain
of buy with you all…
It’s on the
market with WH Brown for £100,000, so a steal in today’s market. With
regards to rental potential, I would suggest a rental price of between £600.00
and £650.00, but looking at the photographs there is a little bit of work to be
done. It looks as though the carpets
will need a deep clean –may need replacing, also the bathroom wall looks
heavily damaged, so this will need repairing and probably a repaint.
So you could be
looking at a potential annual return of 7.2%, this is of course not taking into
account any costs for the service charges or ground rent that may be due. I have given WH Brown a call to find
out about the cost of the service charges and ground rents and they have
informed me they are waiting for confirmation on exact prices from the lease
pack, but say it’s around £90.00 per month for both, so approx. £1000 a year -
you should always look
into this before jumping into any investment.
Lochmere Homes for Sale We specialize in helping people buy and sell real estate in Raleigh, Cary, Durham, Chapel Hill, Morrisville, Holly Springs, and Fuquay Varina. Put my real estate experience to work for you, making your next home sale/purchase a pleasurable one. Our Triangle Realty Aconites office is located in Cary and we serve the greater triangle region (wake, durham, orange, and chatham counties).
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