My investment property of the week is a two bedroom semi detached house on Sough Road in South Normanton. This property was added on Rightmove two days ago by Your Move, and although I haven't visited the property, it looks to be well presented and in good condition. However a thorough inspection by any potential buyer would be necessary to assess its full investment potential. In my experience the two bed properties on this estate are very popular with tenants and usually let within a very short period of time (often within 7 days). Rental values in this area for a property such as this range between £495pcm - £525pcm depending on the property. I currently manage several properties on this estate all of which let quickly to very happy tenants. The low maintenance garden, ample parking and development potential makes this property attractive to tenants and provides scope for an investor to add value in the future.
If the property was purchased at the current asking price of £115,000 and let for £500pcm the yield potential would be a healthy 5.22%
Property link: www.rightmove.co.uk/property-for-sale/property-42952851.html
If you would like to discuss this post or other potential investment properties in Alfreton and Ripley please don't hesitate to drop me an email at enquiries@rfoproperties.co.uk