Mansfield Drive, Intake, Sheffield, S12 with 8% yield
An absolute bargain with a guide price of just Â£65,000.
This property definitely needs some work to modernise, but all this could be done within a reasonable budget and should be quite straight forward. It is apparent that this property has not been modernised for years if not decades. So this property will need refurbishingÂ throughout.
In terms of work required, I would recommend a new kitchen and bathroom, new flooring throughout and redecoration throughout.
If modernised to a high standard, I believe this property could achieve at least Â£500pcm, which means that at Â£65,000, the yield would be 9.23%. This does not take into account the work required, so realistically with all the extra costs the yield is likely to be around 8%, which is still an outstanding yield and makes for an excellent investment opportunity.