Two Bedroom Maisonette in Shirley with a 6.5%+ Rental Yield

Posted on Jun 20, 2016 |
Two Bedroom Maisonette in Shirley with a 6.5%+ Rental Yield
I noticed this two bedroom maisonette located on Lawford Grove in Shirley last week during my daily search of rightmove. This property has been on the market since 10th June 2016.
The property is currently marketed by Smart Homes Estate Agents in Shirley and is on the market for £139,950. In my personal opinion it is slightly on the high side especially as Melvyn Danes in Shirley have a very similar property under offer at the moment and was marketed for offers in the region of £129,950.
I could be proved wrong especially with how buoyant the housing market is at the moment, however I would personally keep an eye on this property for the next couple of weeks, if it hasn’t sold I would recommend to book a viewing and look to offer around the £125,000 mark- which I believe would be more in line with similar properties in the area.
In terms of rental, I would market this for £695 PCM and would let very quickly to a professional working tenant. This would also generate a rental yield of 6.67% and with the condition of the property a tenant would be able to move in very quickly with limited if any improvements required.
Should you have any property related enquiry or require a second opinion on any property purchase please do not hesitate to contact me on 07540 462 033.
Kind regards
Paul Partridge
http://www.rightmove.co.uk/property-for-sale/property-59876663.html
Solihull Zoopla Rightmove