Thursday, 11 April 2013

6% yield on a 2 bed house with parking


On with a local agent, this two bed should rent well. On Deacon Close in Shepshed I've rented the same type of house for £525 pcm so at an asking price of £104,950 that's a yield of 6%. However, this came onto the market 9 months ago at £115,000 and the price has been reduced three times so there may be a deal to be done.
Shepshed is well situated for the M1 and East Midlands Airport and has all the usual village/town amenities - it's a popular area for renting. This house has off road parking which is important and it is in a cul-de-sac position. It has it's own garden with raised patio and the house is in a fair condition. Although not listed as gas central heated on the agents details the internal photos clearly show standard radiators so it must be gas central heated.
At either £525pcm or £495 pcm its circa 6% and that is if the full asking price is paid - but I think there's a deal to be done. Energy efficiency rating is C.

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