This is a little gem. Based just a few roads back from the Lee on the Solent sea front, this three bedroom family home is available for offer in excess of £210,000… If you read a lot of my articles and property blurb you’ll know that I don’t agree with ‘OIEO’ or ‘Offers In Excess Of’, so my advice would be to go in slightly lower on this one first of all as I’ve sold a few in this road over the last few years and they’ve achieved lower figures.
It’s been completely refurbished internally and I actually manage a property very similar which is only a couple of doors away. My Landlord investor is getting £875 PCM for that one, but I believe in this market place and in that condition this one would get £900 PCM, this would return a 5.1% gross yield even if you paid the full £210,000.
With family sized properties in high demand, finding a tenant would be a matter of days rather than weeks so the property void on this property would be minimal.