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.
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