BTL Deal; Investment with scope · 23/11/2023
This spacious 4 double bedroom terraced home with 3 reception rooms and 2 bathrooms is now available and could make a very good investment indeed.
The property is on the market with Howce Estate Agents for £289,995. As always, it may be that the vendor accepts an offer below this, although with this one the price seems right as the market stands today. The property benefits from lots of space throughout with a lovely Victorian façade giving it plenty of kerb appeal. The property is fitted with a modern kitchen which gives a nice feel to it. The property also benefits from a great location, just a 5 minute walk from high street shops on Lodge Causeway. It is also close to a lovely playing field although the property also has a private garden to the rear.
If it does sell for £289,995 and produces £1095 per calendar month (the minimum we think you should achieve) you would return, annually, just over 4.5% of your initial investment. This is a good yield on a property which should have a high level of interest due to its location, giving you less chance of void periods between tenancies!
The area and type of property is actually really popular with students. As the property has 3 reception rooms, it would be possible to make this into a 5 possibly even 6 bedroom student house. This would command a higher rent than letting to a family or professional sharers with the property in its current state. Of course, there would be work to do on the property before you could let it out as a house of multiple occupancy (HMO) but you could potentially achieve around £1400pcm. If you were to do so (before the costs of the works to make it an HMO are taken into account) you would be yielding around 5.8% which could make this an even more profitable investment than first thought!
Furthermore, the property should see capital growth of between 3% and 6% over the next year or so meaning you could achieve up to 11.8% return on your investment by the end of year 1!
If you would like to discuss this post, or any other potential buy to let investment you are considering, please come and see us at our office on Whiteladies Road, or alternatively, call us on 01179 744 997, or email us at clifton@intire.co.uk
http://www.howce.co.uk/property-details/1032/city-of-bristol/bristol/russell-road-1?showsold=on&showstc=on&showBar=on