Park Grange Mount, Norfolk Park, Sheffield S2 with 6% Yield
As mentioned Â in previous blogs, Norfolk Park is very much up and coming.Â
In previous years Norfolk Park has not had the best of reputations, but with many new modern developments and house being built in the area, the people of Sheffield are viewing Norfolk Park in a different light.
This property is a prime example of the why the reputation of Norfolk Park is changing. This a lovely, modern, spacious two bedroom maisonette.
I would expect a rent of Â£625 for this property, meaning if purchased at asking price you would be looking at a yield of approximately 6%, which taking into account service charge and ground rent is low.Â
To achieve a good yield of 7% on this property, you would need to get the price right down to about Â£107,000, which is unlikely so although this property may be nice to live in, it wouldnâ€™t be for me when it comes to a buy-to-let property.