This property came to the market with Edward Mellor 5 days ago and I can’t see it being available for long…
As prices continue to increase in the area it’s getting more and more difficult to find good buy to let for around the £100,000 mark, but here we may have found one! The property requires some basic cosmetic updating, but once done, it could bring in a monthly rental income of £600. Based on that figure, and it’s current asking price of £105,000, a yield of 6.86% could be achieved. The house is located in central Edgeley, close to all local amenities and the train station. For anyone considering getting in to the buy to let market this would be a good choice.
As mentioned, the property is on the market currently with Edward Mellor, and being sold with no vendor chain – please follow the link below for more info:
A purpose built apartment which would make a perfect starter property for any budding investors, located in the centre of Stockport.
The reason this apartment is such a good buy is due to its simplicity, its cheap, modern and low maintenance. Combine that with a yield of over 7.5% and you have got a recipe for a fantastic investment. There is also a lot of scope for the value of both rental and sales to increase significantly with the impending development of Stockport exchange and Redrock which will bring a lot of business and employment to the area.
In the last 12 months alone we have seen rental prices for similar 1 bed apartments rise by as much as £75 per calendar month. This property in particular should rent for around £495-£525 per calendar month which would be a yield of over 7.5%. Service charges and ground rent need to be taken in to consideration but accounting for an average charge of around £80 a month you would still be achieving a yield of up to 6.5%. The property is being marketed by ourselves and the details can be found on Rightmove using this link.