Monday, 16 February 2015
Faversham - 5.29% yield - only £85K.................yes, £85K
Great start to the week! This morning, my ‘divining rods’ are back pointing in the direction of Faversham for today’s investment. These properties rarely come onto the market and when they do, they’ll make a great addition to an investment portfolio or an excellent starter property for a new portfolio.
It’s just come on the market today with Miles & Barr for a price of £85K. Yes, you read right £85K. OK, its ground floor studio apartment, but all of the main principles of an investment property still remain, with one bedroom properties being in great demand. How much are they in demand, I hear you say? Well, these studios / one bed properties rent for circa £350 to £500 per month in Faversham and last week, Rightmove shows that they had 2124 searches for such a property criteria. So, 2000+ searches, with only 4 properties on the market as of today, confirms their strong demand.
So the demand is strong, what about the rent and yield? Well, if we were to say that the rent would be circa £375 per month, which is on the cautious side, then this would return a decent yield of 5.29%.
Check it out further at http://www.rightmove.co.uk/property-for-sale/property-50599907.html