Eckington, Sheffield S21 with 6% Return
Priced incredibly reasonably at only Â£110,000 this three bedroom semi-detached house in Eckington is sure to sell quickly. The property has bags of space on offer and has the scope to be renovated into a large, modern property that would suitably house a large family.
This property is ideally located in Eckington, a very popular area for families and young professionals alike. A property like this would generally achieve Â£550pcm in rent, if the property had fully been renovated, possibly Â£575pcm. You will find that there is a great deal of interest in the rental market out of the city centre in desirable areas like Eckington, the schools are good and with many people unable to afford to buy, they are forced to rent.
Based on the property being rented in its current condition, the yield on offer would be 6%. Many of the properties on the market at the moment in S21 appear to be advertised much higher than this property that said however, S21 is a large postcode area and the house types vary. 6% is by no means a bad yield, this is very desirable for any investors looking to purchase out of the city centre.
The owners have advertised their property at the right price and I fully expect the property to do well on the sales market and sell for asking price.