Property Details: - Type: Semi-detached house - Bedrooms: 3 - Bathrooms: 1
Agent: Martin & Co - Gainsborough Phone: 01427 360941
<strong></strong> <strong></strong> THREE BEDROOM SEMI-DETACHED PROPERTY | CURRENTLY LET AT £525 PCM | APPROX. 6.8% GROSS YIELD AT £93,000 | POPULAR RENTAL LOCATION | IDEAL INVESTMENT OPPORTUNITY<br/><br/>An excellent opportunity for landlords and investors to acquire a three-bedroom semi-detached property on Ropery Road, Gainsborough, currently let to a tenant producing an income of £525 per calendar month.<br/><br/>Offering an attractive combination of a relatively low purchase price and an established rental income, the property represents an appealing proposition for both existing landlords looking to add to their portfolio and investors seeking an accessible entry into the buy-to-let market.<br/><br/>The accommodation provides three bedrooms, together with the usual living accommodation expected from a property of this type. Whilst the property is typical of the surrounding housing stock and would benefit from some general updating in places, it offers good potential and, importantly for an investor, is already producing rental income.<br/><br/>At the asking price of Offers in the Region of £93,000, the current rent of £525 pcm represents an annual rental income of £6,300, equating to a gross yield of approximately 6.8%, before allowing for mortgage interest, maintenance, management, insurance, void periods and other associated costs.<br/><br/>The property is situated on Ropery Road, an established residential road within Gainsborough, with a range of local amenities and services available within the surrounding area. The wider Ropery Road area has a mixture of traditional terraced and semi-detached housing and is an established location for both owner-occupiers and landlords.<br/><br/>Key investment information:<br/><br/>Current rent: £525 pcm<br/>Annual rental income: £6,300<br/>Price: Offers in the Region of £93,000<br/>Gross yield: Approximately 6.8%<br/><br/>The property is currently occupied, providing a buyer with the opportunity to acquire an investment with an existing rental income from completion, subject to the usual tenancy and legal due diligence.<br/><br/>An attractive investment opportunity at an accessible price point - early viewing is recommended. <br/><br/><strong></strong> <strong></strong> Estate agents operating in the UK are required to conduct Anti-Money Laundering (AML) checks in compliance with the regulations set forth by HM Revenue and Customs (HMRC) for all property transactions. It is mandatory for both buyers and sellers to successfully complete these checks before any property transaction can proceed. Our estate agency uses Coadjute' s Assured Compliance service to facilitate the AML checks. A fee will be charged for each individual AML check conducted £45.00 + VAT
