Today’s opportunity from the Penicuik Property Blog is a spacious three bedroomed semi detached house 153 Rullion Road. Rullion Road is a quality area of Penicuik.
This property was new on the market yesterday. Given the type of house it is and the location it is in, I would expect that this property will be sold fairly quickly so if you are interested in it, best you go and view it fairly quickly.
The property, has a lounge, a separate dining room, a fitted kitchen, three bedrooms, a luxury shower room. It also has gardens front and rear, a long driveway, gas central heating and most windows are double glazed.
To me it looks like an older person has lived in the property until fairly recently given that it has a shower room not a bathroom, given the age of the kitchen and by the looks of the curtains and that the property has been re-decorated and re-floored throughout to make it presentable for sale.
It you bought this property I would recommend that you re-instated the bathroom as families want a bathroom even though they may not actually use it. In addition, I would spend a wee bit of money getting new doors and worktops for the kitchen but I would not renew the whole kitchen. Finally, I would get some neutral curtains. Let’s say this work costs you £5,000.
This house is on the market with Allan McDougall for offers around £160,000. After you spend £5,000 to do it up, that takes you to £165,000. You should get a rent of £825 for a house like this so that’s a yield of %. Given that it is a quality part of Penicuik, that’s a reasonable return.
We hope you find our posts useful. If you want some buy to let advice on this property, another property you have in mind or anything else property related, come and see us in our office (6 Bank Street, Penicuik), call us on 01968 674601 or email either of us (firstname.lastname@example.org; email@example.com).