This blog follows the property market in Northampton with a particular emphasis on buy-to-let. On here you'll find general commentary about the market, plus properties that may represent decent buys. I own a large estate agency in Northampton and am myself a landlord with an established portfolio. If you're looking to invest, but are unsure what will work best, I'm happy to offer a (free) second opinion. If you have a property to sell I can help with that too! Email richard.baker@belvoir.co.uk

Tuesday 3 October 2017

Why buy this? 1 bed freehold house for £115k

This came to the market earlier in the week with Good Choice Estate Agents and is a 1 bed freehold house with garage in Manorfield Close, NN3, on the market at £115,000
Why buy it?
It's freehold that's as cheap as you can buy in Northampton. These things are sometimes built as clusters (with no garden) and sell for about £115k. This one ISN'T a cluster - it's a proper house with a garden, AND a garage too. There's nothing close to it in terms of value currently. If you're insistent on a freehold property, are on a budget, and don't want to buy in an ex Local Authority area, this is the one for you. A quick trawl of the property portals will show you there's nothing else FREEHOLD in this price range.
Will it rent? 
You bet it will. We'll get £575 for this without any issue which is a return of 6% based on the asking price. It's in a decent road so will rent to decent tenants.
Does it need work?
I don't know as I haven't seen it, but as there are no internal pictures I suspect it might. That's not an issue though - these are small places so getting them done up isn't a big issue - we can sort everything out quickly.
What next?
Good Choice are on 01604 631403. If you're not in town and want me to view for you, email richard.baker@belvoir.co.uk but don't leave it too long!
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