Whilst browsing the portals for some favourable Watford property investments I came across this 2 bed flat just off the North Orbital Road being marketed by Harry Charles for a steal at £179,950.
It may not seem quite as attractive as some of the newly build 2 bed flats that are more centrally located but bear in mind the newer 2 bed flats are selling for almost £100,000 more than this!
There are 2 flats in this block being market for rent at the moment – the more expensive of the two @ £1,000 per month.
But let’s be conservative and assume you can achieve a rent of £950 per month. That would get you a very respectable 6.3% yield.
If you install an inexpensive but better looking kitchen you could achieve the top-end in rent.
The service charge will affect your figures and its refreshing to see it’s actually been disclosed for once @ £880 which is not too bad. Thank you Harry Charles!
The length of lease is ok but if you are considering this a long term investment you might want to budget for extending that lease at some point. Remember then sooner you do this the less it costs. If you need some expertise in this area talk to Bernie Wales who is very knowledgeable.
This could be a great way to dip your toe into the buy to let market in Watford at an entry level cost for an excellent yield.
We regularly help both novice and experienced investors consider their investment opportunities so why not give us a call on 01923 375 300. A conversation with me wont cost you anything and if you take just one useful piece of information away then it will be worth it. Of course I’ll do my best to give you more than one!
If you’d like to find out more about Caley & Co click here: Letting Agents in Watford