Location: North East
Here we have another good BTL opportunity in the North East. It’s a modern 2 bed house within a development which was built roughly 10 years ago.
We sourced another 2 bed on the same street for a South East based investor last year. That property is fully tenanted and has been a successful investment so far.
Properties at this level are mortgageable so you’d look to put down a 25% deposit of £16,250 and pay a monthly mortgage payment of circa £105 (based on an interest only rate of 2.59%). We know properties in this area rent well.
We’ve been advised that you’ll be able to achieve £475 – £500 PCM. Our agent also feels at £65,000, the property is below market value. Very similar 3 beds are currently on the market for £110,000 each with a near identical fit / finish.
This would work well if you were looking to refinance as part of your investment strategy.
As with all of our deals, management can be arranged on your behalf. Note: our agent has visited the house and advised that a couple of the rooms could do with a lick of paint and some new carpets.
Everything else appears to be in good order and we can help facilitate the work.
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Please Note: Property values can decrease as well as increase. No express or implied income claims are made herein. Historic performance should not be taken as a guarantee of future performance. Leveraged property investment with mortgage finance can increase the risk of losing money as well as increasing the possible gains.
Sherwood Estate Agency Ltd uses all reasonable efforts to ensure that the property information published on the website and in the investment packs and elsewhere are accurate, current and complete at the date of publication; no warranties or representations are made or implied as to the accuracy of such information.