Upwell Hill, Sheffield S4. Modernisation Project!
Properties are often cheap for a reason. It is clear that this property needs a refurbishment. You are looking at spending about a minimum of Â£10,000 to bring this property up to standard, bring the total price to at least Â£52,500.
Once brought up to standard the expected rent would be Â£450pcm, which would mean a yield of 10.29% which is extremely high.Â
However, this area seems to attract problem tenants. There have been numerous reports in this area of anti-social behaviour and this area is in steep decline.
Whilst the area remains to have problems it will not attract good tenants, so whilst you will be making money on the rent, bear in mind that there may be large void periods, which can often be caused by damage caused by previous tenants, another expense.
For me, anything in this area would be too much hassle.