This 5 bed property on Haddon Avenue has fantastic potential as a professional houseshare. Located in Burley between Kirkstall Lane and Burley Road it is ideally positioned close to all main transport routes and Leeds City centre is less than 2 miles away.
It's currently on with Castlehill for £139,950 (although I'm sure you wouldn't end up paying that!) with an advised potential rental income of £13,500 which if that was achieved would earn a 9% yield.
On the face of it that sounds like a pretty good deal but looking more closely at the floor plan the bedrooms look fairly small and cramped. This would prove tricky to rent out so that 9% yield might be a struggle to achieve.
There is massive potential, however, to reduce the number of bedrooms and utilise the space and create a three bed all en-suite property. If the whole house was refurbished to a high standard you should be able to achieve around £95pppw for each room, so that's £14,820 per annum and it would rent out all day long!
The work would likely cost around £15,000 so if bought for around £130,000 once the calculations are all done that would give you a yield of just over 10% and you're also safe in the knowledge that your property would let very easily indeed and likelihood of any void periods greatly reduced!
If you're a landlord or a possible investor and would like any tips or advise on either this property or any others then by all means just give me a call on 0113 2304690 or 0113 2743488.