Extended 2 Bed Marehay

 

New to the market in The Gardens, Marehay, this 2 bedroom property on with Home2Sell offers an extended living area including a garden room and utility room.  Also having it’s own allocated parking space and a garage means there will be plenty of space for most families.  Modern and extended will be two big pluses for potential renters. We think this can perhaps achieve a gross yield of 5.7% to 6.03% based on a monthly rent of £475 - £495  per calendar month.

 

How can you find a good property deal in Ilkeston? .. or even Heanor!

 

The subject of a lack of Ilkeston, Heanor, Eastwood and Belper property bargains over the last couple of years has always been near the top of most local landlord’s thoughts. I have built up an extensive database of every property sale in Amber Valley, Erewash and Broxtowe since the late 1990 ’s, so are able to give an objective and unbiased opinion on what (and what doesn't) make a good property deal /investment. Knowing what is and what has happened to the property market in our area, compared to say Derby or Chesterfield, enables me to spot any trends or opportunities for buy to let landlords. 

Here are some bargains that I spotted at the time and made a note of. It’s obvious other people thought the same as some have now resold a few years later. A 2 bed mid terraced on Depedale Avenue in Ilkeston sold in August 2012 for just £64,950. Admittedly it needed a some TLC and a lick of paint, but what a bargain, because they sold it again a few weeks ago for £84,000 .... a 29% increase in just 18 months. If you were wanting something in Heanor, one buyer paid £110,000 in the late summer of 2011 for a Victorian detached house on Wellington Road, selling at the back end of last year for £124,500 . 

Whether you are a landlord of ours or not or someone thinking of investing in rental market for the first time, drop by our offices for any advice and opinion on where the bargains are in the area. You see, as I don’t sell property, I can look at the whole of the market. Please either ring me on on 01332 910499 or email on lettings@sprucetree.co.uk

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Smart and Funky in Heanor

This Victorian Terraced house on Marshall Street in Heanor for £92,500 with Henry Simms represents an ideal opportunity for a buy to let investor.  Smart and funky and will plenty of space it’s bound to attract a wide range of people.  We believe it could achieve a monthly rent of £475 to £495pcm, which gives a minimum gross yield of 6.1%  This property looks ready to let without much fuss.  Book a viewing and then give us a call to see how we can help.

Family Home under £100,000 in Eastwood

Decent family homes in good areas are always hard to come by.  This is why this spacious 3 bedroom home in Wilson Road, Eastwood caught my eye.  It’s being marketed by Your Move for £99,950. It may need a bit of a tidy up but I think it is likely to bring in a rent income of circa £550pcm.  That’s a potential gross yield of 6.6%.  With good transport links on the doorstep, this property will attract families and commuters.  It’s worth viewing to see if this could be the first or indeed next property in your portfolio!

Derbyshire buy to let rule three

Rule # 3 - Keep Your Figures Realistic

People need a lot of money to afford a deposit at the moment, so many are renting instead. This means there’s good demand for rental property, and we lettings agents can rent most things, often for a premium. 
However at some point this will change. As such don’t assume that just because you can currently rent a tatty property, that will always be the case, and don’t assume because some estate agent is promising to get you £x in rental, that it will rent at that price for ever. 
Do your figures on a worst case scenario and you should end up with your expectations being exceeded, not unrealised.

3 Bed 7+% Yield in Ilkeston

I have seen this 3 bed mid terraced on Peveril Drive in Ilkeston up with Renshaw Estates for £77,000. This is an interesting ex-local authority estate and our experience shows that these properties are quite spacious with good-sized gardens and attract rents of £450 or more per calendar month.

Whilst this one is a little basic it is clean, has a downstairs wc and looks fair value at £77,000 – making at least a 7% yield.

Have a look and let me know what you think!

 

 

3 Bed in Belper Less than £90k, over 7.5% Yield

We can never get enough properties to let in Belper - such is the strength of demand - and an interesting extended 3 bedroom end terraced property on Hunter Road caught my eye today, marketed for just £89,950!  I believe with a lick of paint and some new carpets this property could easily yield 7.8% if an asking price of £550pcm were applied.  Likely to rent quickly to families being close to both Belper School and Pottery Primary School, we think this is one not to be missed.