'Starter Home' Investment Deal Northampton

What about this ‘starter’ style property, for a great investment…?

It’s a one bedroom cluster home, situated on the private residential estate known locally as ‘Beau Manor’ close to Weston Favell, Northampton.  These types of properties rent easily and normally go to first time renters, a single person or young couples. There are only a few photos for this one, but the décor does look a bit tired, so I think some filler and a lick of paint would be in order to freshen this place up before it goes on the market for rent.

Key Home estate agents in Northampton are marketing it for sale for £109,995, and we have literally just rented one around the corner for £525.00pcm, so if we set this as the possible market rent, we can then calculate the potential yield as an investment:

So we take the annual rent, which would be £6300.00 and divide it by £109995 (the property purchase price), if we then x it by 100 = it will give us the annual gross yield which is 5.72%!  Not a bad return for a Northampton investment property, and remember you may be able to do a deal on the asking price so you could increase the % on the yield!

http://www.rightmove.co.uk/property-for-sale/property-56406929.html 

The link above will take you to this specific property I’ve mentioned, but if you’re interested in buy to let or want to know more about the Northampton lettings or estate agent market, please feel free to give me a call on 01604 607080 or drop me an email to northampton@northwooduk.com