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Key selling points
- Great Location For an Investment Property!!!
- Strong Continued Capital Growth!!
- Deposit UNDER £10,000!!
- Great Rental Demand
- Excellent Long-Term Investment!!
We have sourced a 2 bed terrace property in the popular investment town of Seaham, Co. Durham. The property at only £63,000 is sure to go very quickly. The property is mostly double-glazed and comes with gas central heating. The property floor plan briefly comprises of: Entrance, lounge, dining, kitchen, bathroom and 2 bedrooms. The property would benefit from some cosmetic refurbishment for which a budget of £2000 is suggested. It should however be noted that similar properties are coming to market for @ £70,000.
It is anticipated that a property of this type in this area would let for around £370/month, we have a management team in place to let and manage the property and a team who can carry out the required works on completion!.
Cash Flow
Purchase price - £63,000
Deposit - £9,450
Rent - £368/month
85% Mortgage at 5.3% - £236/month
Management 10% (+vat) - £43
Insurance - £15
Net Income - £74
This high yielding investment property will provide a net income of £74 a month, after all costs. We source more high yielding buy to let deals in the UK than any other company, and have a proven track record. We regularly feature in the property magazines in the UK, and only source in local hotspots where our local finders operate from, and in areas we invest in ourselves.
The North East has excellent rental property and continued strong capital growth offering fantastic value to buy to let investors. As with any property of this type and age we would recommend that investors always allow up to £1000 for points that may be raised in the survey.
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