A landlord recently missed his chance to buy a nice three
bed semi-detached property on Buxton Avenue, in Heanor, as it sold quickly. He
asked me if there something special about the area, so I did a little research.
I have included roads surrounding the Buxton Avenue area
such as Sunningdale Avenue, Owers Avenue and Coppice Drive amongst others in my
findings. Many of these properties were built around the 1950s.
A number of the three bedroom semi-detached properties have
sold in the area for between £90,000 and £135,000 in the last two years. Remember
though that to prepare a property as a rental investment could take additional
funds and depending on the work needed could be as much as £10,000, or more, so
some of these properties may have needed some care and attention. These properties would achieve rents of
around £495-550 per month, which would provide a reasonable annual yield of
around 6%.
The three bedroom semi-detached properties in the Buxton
Avenue area are now asking a minimum of £125,000 and upwards. The older houses
offer the tenant and buyer larger rooms, which can be more appealing.
Even though the purchase price is heading upwards, the rents
being achieved are also edging upwards, meaning the annual yield is still good
especially as the houses have seen great increases in value and are popular
with buyers and tenants.
So, if you would like to talk to us about property in our
area please feel free to visit our offices.
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