This property has come on to the market with Cooke & Co estate agents. One bedroom flats are renting very well at the moment and would achieve in the region of £350 and £375 each month. The current owner claims he had been receiving £400 a month but seems a bit high to me, but still achievable obviously. Properties like this don't need to have a lot of money thrown at them to get them up to a rentable standard. As long as there is a decent kitchen and bathroom, a lick of paint should suffice. So a purchase price of £55k (unless you can knock a bit off) and a minimum rent of £350 each month gives a cool gross yield of 7.6%. Lets imagine for arguments sake that you can purchase this one for £50k and you tart it up a bit. Rent it for £375 a month. You would be looking at a fantastic 9% gross yield! Not bad at all!
Check out the full particulars here
http://www.rightmove.co.uk/property-for-sale/property-46915450.html
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