Whilst central areas do tend to make good investments, some of the best yields can be found further away from the centre of the city.
The S9 post code is not a particularly desirable area, but certainly does have its advantages. Meadowhall is in this postcode, so anybody that works in Meadowhall may well be attracted to this area and it boasts excellent transport links. There are also a lot of other business outside of the retail sector in the S9 postcode.
This property has the potential to let for up to £600pcm, which means that if purchased at asking price, the yield would be 6.55%. Considering there is no service charge or ground rent, this is not a bad yield. It is often the case the owners accept less than asking price, whilst £110,000 sounds a reasonable price, if the owner was to accept an offer of £103,000, which is not beyond possibility, the yield would be an impressive 7%.
This property will appeal to first time buyers, but for an ‘outside the box’ buy-to-let property, this property will appeal to some local investors.