If you are looking to invest in the Runcorn property market, the house I have picked out for you this week is a 3 bedroom mid terraced estate home on the market with Edwards Grounds, for £69,950. It is situated in Brookvale, a popular location close to the town park, Runcorn ski slope and within easy reach of schools , Runcorn shopping centre, bus routes and road networks. Its been on the market since June last year so the vendor may be open to a cheeky offer, but even at the asking price, it would make an ideal investment. Although I haven’t been inside the house, from the pictures, it looks like it would probably need some cosmetic updating such as a new kitchen, new central heating boiler and general redecoration and flooring throughout. I am sure actually viewing the property would highlight the full extent of the works required. Once the property has been updated, it would rent for around £550 per calendar month.
If purchased at the asking price, it could produce a fantastic gross yield of around 8% (Allowing £2,098.50 for stamp duty and an estimate of £10,000 for closing fees and the renovation). If a lower offer was accepted, the yields would be even higher. Please take a look at the link below and arrange a viewing with Edwards Grounds if you would like more information.
Please keep an eye on The Runcorn Property Blog for more buy to let deals in and around the Runcorn area or give us a call or pop in to our office for a chat if you would like any advice on buy to let in Runcorn. We are always happy to cast our eye over any potential investments and offer guidance.