Have you got that Friday feeling yet? Sorry I’m a bit later with todays’ post, still catching up from after the bank holiday mayhem! I hadn’t forgotten about you though.
Just spotted this property come on to the market in the last couple of days and having crunched some numbers, looks as though you could potentially get a 5.1% annual return on this house in Springfield, Chelmsford. It’s on the market for £230,000, which seems a fair-ish price. I would suggest that if you did purchase this property for buy to let, then to give it a bit of a freshen up decor wise, a good coat of magnolia and a couple of new carpets should see you right. If you could negotiate a couple of grand off the asking price, that will help towards this cost.
In this area, these properties generally rent for around the £1000 mark and due to the location, will attract professional families. This type of tenant is normally ‘long term’ which for an investment property is ideal!
If you fancy popping in for chat, come along to our office on Duke Street