High Green, Sheffield S35 with 9.33% Yield
This property would be an ideal first time investment property.
At just Â£40,000, this property represents very low risk. Previously this property has been rented for Â£300pcm, which would mean a yield of 9%, which is an excellent yield. It is fair to say that this property will not make you a millionaire, but for investors with no experience of being a landlord, this seems like the perfect place to start.
By no means is this property in a good condition, but at a rent of just Â£300pcm, this is not to be expected. This property does have potential to achieve a higher rent, but the property would need to be improved, in particular the kitchen and bathroom would both need to be replaced. Given the size, this is not likely to expensive and a relatively high standard could be achieved with a budget of Â£5000. I believe this would increase the rent to Â£350pcm and taking into account the Â£5000 budget, the yield would be a much improved 9.33%.
This property does also have an allocated parking space. On street parking is not a problem in this area. You do not require a permit to park on street.
As well as investors, this property may also appeal to first time buyers.