The buy to let opportunities in the Penicuik Property Blog this week are all 1 bed flats and they come from right across the spectrum!
This 1 bed has recently come on the market with Stuart & Stuart.
It is a fairly basic 1 bed flat at 4 Andrew Court in Penicuik, just off the Queensway, although it does have gas central heating and double glazing. The description and pictures do not make it clear whether the bathroom has a shower or not so it would be worth checking this. Also, the bathroom picture does not have a full shot of the WC so I am not able to see whether it has the tell tale sign of being repossession – tape across the WC seat! Again, worth checking this out. Finally, the external picture shows that there is a defective communal down pipe and it is worth considering the difficulties landlords sometimes have in getting even simple communal repairs done.
The property is on the market for offers over £70,000 so let’s assume it goes for £75,000. It will rent for £500 – £525 which gives a yield of 8% – 8.4%.