Good morning. I’ve come across this property today and whilst the return may not be as high as some of the City centre flats at 4.7% (gross) But still at this level, it is not a bad return, especially when you take into account that this property is Freehold and therefore won’t have any service charges or ground rents to take into account off your bottom line.
This house itself appears to be in pretty good condition, it’s a good size and properties in this area, which is Moulsham Lodge, do generally rent out quite well due to the local schools being quite sought after. We have recently rented out a similar property in this area for £900, but it didn’t have a conservatory, so you could be looking at about £925 pcm / £950 pcm. So, when you do your calculations against the asking price of £240,000, brings us to our annual return of 4.7%.
If you don’t like the look of this one, but have seen another property that you would like some advice on, ping it through on an e-mail to me and I’ll happily give you my honest opinion on it’s ‘rentability’.
Stephen.frost@martinco.com
