Crookes, Sheffield S10 with low 4.5% yield
Crookes is a very desirable area to live. It is close to the city centre and you are on your way to the countryside. There are a lot of student houses in Crookes, but there are also many non-student houses.
This house certainly a non-student house. It appears very old fashioned and is in need of modernisation.Â
The kitchen seems ok, as do both bedrooms, but neither are very impressive.Â I feel modern carpets in the dining room and living room are both needed, new light fittings would also modernise the property.Â
A new bathroom I feel is needed, although it appears functional it is still old fashioned and a lot of buyers will not like this.
As an investment I feel it would be too costly and too time consuming to make this property ready to let.Â
You are likely to achieve Â£600pcm if modernised, which would mean a yield of only 4.5% if purchased at asking price, this is not taking into account the cost to modernise the property.
This property will suit someone, but I feel it is too expensive and the amount of people it will suit will be far less than a more modern property which is likely to be for sale in Crookes at a similar price. I would not be surprised to see a reduction on this property, if not I expect this property to remain for sale for some time.