Friday, 17 July 2015

4 bed house in Hyde Park with great potential for over 10% return

This four bed house located on Thornville Road will appeal to both professional and student renters which would widen your potential market. Located in the heart of Hyde Park it's only a few short minutes walk away from all that Hyde Park has to offer and also has plenty of public transport systems that take you straight into Leeds City centre in less than 10 minutes. 

On the face of things, this house doesn't look like anything special but for the most part a lot of that it is purely cosmetic. In order to bring it up to spec you would need to redecorate, re-carpet and replace all the furniture. There's also no pictures of the kitchen but if the rest of the house is anything to go by it's likely to need a new kitchen. In addition to the cosmetic work I would also suggest making the small bedroom on the first floor larger by taking some of the space from the bathroom and creating a smaller shower room in it's place. There's also scope for creating a jack-and-jill bathroom on the top floor. 

By doing all of this you'll then be able to achieve an annual rent of around £16,640. You would probably need to spend around £20,000 to do all of this but if you managed to get the house for around £130,000 that would give you a very healthy return of 11%. 

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