Today’s Penicuik Property Blog buy to let opportunity is a 1 bed flat that has been on the market for a number of months so it may fall into the category of a possible ‘December bargain’ that I referred to in one of my blogs last week.
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 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 with Stuart & Stuart for a fixed price of £70,000. It will rent for £500 which gives a yield of 8.6%. If you can negotiate the price down then clearly the yield will be higher.