BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Tangmere, £210,000, 5.1% yield

Summary:
3 bed mid-terrace house in Tangmere
Listed for sale on 11/01/16 @ £210,000
Rent = £895pcm
Yield = 5.1%

New to the market this week is a three bedroom mid-terraced house in Tangmere. At £210,000 and offering well-proportioned bedrooms, an en-suite, downstairs cloakroom, double glazing, gas central heating and a garage in a block it appears to offer excellent value. Particularly when nearby two bed houses are selling for a similar price.

It does unfortunately require a fair bit of work inside, but it seems to be mostly cosmetic: a new kitchen, bathroom, cloakroom, flooring and decoration. This gives the opportunity to add some value to the property as well as offer an excellent final product to tenants in a popular area.

With these works done you could expect to achieve around £895pcm, which would result in a 5.1% gross yield based on paying the asking price of £210,000 (factor in the cost of refurbishment too).

It is on the market with Tod Anstee and full details can be found on Rightmove via the following link:

http://www.rightmove.co.uk/property-for-sale/property-38932566.html

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