Deal of Day - 3 bed town house, Hayward Avenue, Donnington, Telford - 10% Yield ?

Have just seen this 3 bed property come to the market with Butters John Bee for Auction on the 19th Jan 2015 with a guide price of £46,000.

 

My research shows that this property was sold at auction back in Sept this year for £50k, however it didn't complete as the construction is "non tradition i.e. not bricks & mortar and the buyers couldn't obtain mortgaged, so you would need to check this out with your proposed mortgage provider / advisor if you wanted to proceed.

 

Assuming you can, or are a cash buyer, and you purchase the property 50K. There is some refurbishment required. Lets say for example, you end up the property finished for £65k, the rental that could be achieved would be around £550 pcm giving a gross return of 10.15%

 

 

 

See more http://goo.gl/wXu4DG

 

As always, if you would like any advice or my opinion on the Telford property market please feel free to call or email on 01952 306 444 or martin@letwithsignature.co.uk