Reading, UK, RG1 48E
House Sale Type:
Expected Rental Income:
£ 5,700 a year
House sale due to the owner unable to travel to the property because of the current Covid situation.
Priced to reflect the minor repairs, once completed will still allow the costs associated to be classed as BMV.
We understand new double glazing windows have been fitted, a central heating system has been installed.
Kitchens are there, but need fitting, as is the case with the bathroom.
Neat little job for builder or first timer looking to get onto the property ladder.
Rents that can be commanded in the area, dependant on the finish can range from £450 to £475 per month.
Factoring in the estimated £5k to finish the property, we estimate a 10% rental yield can be achieved once refurbished.
Comp’s are not too bad as the 2 bedroom properties are experiencing offers over £60,000
Type of Property: Semi-Detached
Rental Income: £ 5,700
Net Rental Income: £ 4,388 pa
Net Rental Yield: 8 %
Return For Investment: 33 %
Gross Yield: 11 %
Name: Pauline Smith
Guide Price: £ 53,845
Deposit Required: £ 13,461
Mortgage Amount: £ 40,384
Mortgage Payments: £ 109 pm
Based on 75% Loan To Value (LTV).
Mortgage Product:Interest Only @3.25%