Monday, 10 October 2016
Fantastic house in Kirsktall with potential 13% return
This 5 bed house on Victoria Road is in a prime location for professional renters and an area that we always have big demand for.
The current rent achieved could easily be bumped up by bringing the spec up and wouldn't cost the earth to do so in my opinion is definitely worth doing. I would recommend putting in a new kitchen and updating the decor.
The room sizes are already pretty good and in fact you could take some of the space from the large first floor bedroom and convert what's currently just a toilet room into a shower room as this is one of the few things letting this house down. Tenants are never keen on only having one full bathroom to share with 4 others so by utilising this space you'd make this house a more desirable option to tenants out there.
By doing this you could achieve a monthly income of around £1733 (excluding bills) and the work would likely cost around £5-£8000. If you could get the house for around £155,000 that would then give you a fantastic return of nearly 13%.