3 Bedroom Terraced Property in B25 with Potential 6.6%+ Gross Rental Yield

Posted on Nov 17, 2016 |
3 Bedroom Terraced Property in B25 with Potential 6.6%+ Gross Rental Yield
This property located on Berkeley Road in Yardley ticks all the boxes for me as a potential investment property.

The three bedroom Mid-Terrace is currently being marketed by an on-line agent called emoov for offer in excess of £115,000.

For this to stack up as a worthwhile investment, I would say to try to pick it up for the £115,000. The property description is very basic and I have had to work my numbers out without having the full details.

Should the property have up to date electrics and gas central heating I would look to budget around the £7,500 mark to install a new bathroom, kitchen units, decor and flooring throughout. Given the condition of the property on the photos, I would guess that the electrics will require updating and the property more than likely has the warm air heating system. Therefore I would allow up to £12,000 on the refurbishment which was the amount we recently spent on a similar project.

Once the refurbishment has been carried out, we would look to achieve £700 PCM on this house. Again this rental amount blows my mind at the moment as 18 months ago we would have achieved around the £575 PCM on this road.

I really believe that Birmingham is a fantastic place to invest at the moment, this property in particular is located close to the A45 (Coventry Road) and the Center of Birmingham can be reached in as little as 10 minutes.

My thoughts on the area are being mirrored by the fact that I am being approached by many overseas investors and London based Investors who are looking to pull money out of the Capital to invest in Birmingham, this has also been backed up by the fact PricewaterhouseCoopers recently reported Birmingham as the sixth best place in Europe to Invest!!

As you can tell I am a very proud Brummy at the moment!

Should you have any property related questions or require a second opinion on a property purchase, please do not hesitate to contact me on 0121 742 0404 or 07540 462 033.

Kind regards

Paul Partridge
www.partridge-homes.co.uk

http://www.rightmove.co.uk/property-…/property-44140896.html