Investment property at £80,000
On with a local agent this 1 double bedroom on Roundhill Way would work well for an investor. With a probable rent of £400 pcm (we've just let one of this type, furnished, at £435pcm 1/4 mile away and it has let and relet many times over the last several years) you could realise a gross yield on the purchase price of 6.5%. Place a 25% deposit of £20,000 and mortgage the remaining £60,000 and the figures look even better. The interest on the loan would be a tax deductible expense of the 'business'.
These houses are cul-de-sac, off road parking, have built in wardrobes and would cost very little to furnish. As a one bed if you go furnished you'd attract more interest and you can use depreciation on furnishings to offset tax liability on rental income still further.
It is very close to the University so could rent to a mature student or a couple studying at the Uni from the UK or overseas. Access to the M1 and East Midlands Airport is easy.
Well worth a look.