Listed only a couple of days ago, properties in this area are often popular. 

£119,950 looks to be a reasonable price for this property, albeit at the top end for this area.
I would expect this property to achieve a healthy rental income of £650 pcm if rented. At the expected rent and if purchased at asking price you would be looking at a yield of 6.5%.

A yield of 7% would be achievable if the vendor accepted around £111,429.

Popularity for this development and the surrounding area increases every year, so I would expect that in a few years time if you did decide to sell you would be looking at making a profit, particularly if you can get the price down!