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

Thursday, 11 October 2012

NOW SOLD CHEAP TOWN CENTRE FREEHOLD

This is a wildcard option. A newly built freehold property in the town centre. Small, but beautifully presented and an ideal rental. I think it's actually an infill between 2 other houses?

I'm told it will cost in the region of £86k to buy. Rental options are:

rent it unfurnished for £475, maybe £495, giving a yield of 6.5%.
spend less than £1000 furnishing it (easy!) and it will rent for £525, maybe £550, giving a yield of 7.2%.

I get lots of landlords wanting higher yield, but not housing benefit, and not leasehold flats, and not multi occupancy, and a limited purchase price, and low maintenence. This one ticks every box!

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