5.6% Yield in The Village, Chelmsford…

Well, we’re here again at the end of another week… soon be Christmas!!

I thought I’d take a bit of a risk with this one. It’s an apartment on Parkinson Drive, in a development known as ‘The Village’ which is very popular with landlords and tenants alike.  The reason I wanted to point this one out is because of the price, it seems to be on the cheap side with a guide price of between £155,000 – £165,000. There are other properties in the area coming on and selling for nearer the £170k – £175k mark, so make sure you go in with wide open eyes on this one, there’s probably a reason! Another telling fact is that there are no internal photos on line, another warning. But if you manage to get it cheap enough, it doesn’t matter if you need to spend a few quid on it.
http://www.rightmove.co.uk/property-for-sale/property-53559197.html

Similar properties in this area are renting for around the £775 pcm mark at the moment, therefore you could be looking at a gross yield of 5.6%! not too shabby is it.

It’s definitely worth doing a little bit of research on this property to see what the situation is, because you could end up with a corking little buy to let property. 

If you would like any pointers on where to start your property search, give me a call and I’ll point you in the right direction

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