Friday, 27 February 2015

Faversham - 2 bed - £185K - yield of 4.86%

What a fabulous day today! The sun is shining, the birds are singing and the investment properties keep on coming! Today, we are off to Faversham where a property has just come on this morning with Miles & Barr and from a couple of calculations on my note pad, it looks a good investment.
 
It’s a two bedroom house in Cremer Place in Faversham and is on the market for £185K. From the details it looks like it’s available to rent immediately upon completion and has been completely refurbished throughout.
 
In the past few months we have seen a really good demand for such properties and we would estimate a rent of circa £750 per month. This coupled with the purchase price would deliver a respectable yield of 4.86%.
 
Out of interest, I have taken a look at the history of this property to see how it’s performed in the last few years since it was purchased by the current owner in 2007. It was purchased back in June 2007 for £142K, which if sold at the current asking price would give the owner a return of circa 23%. It would also appear that this was an investment Landlord, as our database shows that this property was rented for £700 back in 2013, therefore our predictions for the current rent is there or thereabouts. The database also shows that in the past year, it’s seen an increase of circa 7.43%, which again is positive.
Check it out further at http://www.rightmove.co.uk/property-for-sale/property-50128124.html and give the agent a call.




 

Should you wish to discuss any other specific properties or just a general chat re the current market, please feel free to contact me on 01227 455717 / canterbury@martinco.com or call in and see me at 23 Watling Street in Canterbury.