This is a cutey! It pretty much ticks every rental box….
Good location with fast links to London? TICK
Neutrally decorated? TICK
Would rent every day of the week?! TICK!
Two questions arise for me…
1. How long is the lease as it’s not mentioned in the details?
2. There’s no external photo so I’d be interested to see what the building looks like and what the access is like
Also, don’t forget to take into account the service charge as might be pretty meaty which could seriously eat into profits.
Let’s take a look at the numbers. It’s on at £255k which is very reasonable given its location. Another reason why one of the above questions may be affecting the value. If not, however, then you might get it for a nice round £250k. It should rent for around £1200pcm which will give you a gross yield of 5.8% – very healthy for these parts.
Nice little starter pad for a new investor or one to top up the portfolio if you’re more experienced.
If you have any questions about the local property market at all then please do feel free to get in touch. I don’t charge anything for a chat or email! I own my own letting agency but also source properties for investors.