1 Bed Buy To Let - Clepington Rd, Dundee. Gross Yield 5.8%
I was chatting to a landlord the other day about areas I like in the city and as usual I mentioned Clepington Rd.
This one is being marketed by RSB/Lindsays http://www.tspc.co.uk/1-Bed-Second-Floor-Flat-For-Sale-2L-159-Clepington-Road-Dundee-DD3-7SN at £69,000, which I think is a reduction from the original asking price and below the Home Report.
It looks to be in pretty good condition from the photos, though it might benefit from some updating. It’s got GCH/DG and the block has secure entry, an added advantage for me is the dining kitchen.
Obviously you would want to check the rear of the block and generally have a good look around but it looks to be a good example of what is available in the area and the EPC is a C, which is good.
I would assess the rent at around £370 per month (it may go a little higher depending on the condition), that’s a gross yield of 5.8%. Capital appreciation for flats in that postcode has run at just over 24% over the last five years.
Now personally and depending on the condition of the property when you see it, as there has been a reduction, which could be for a variety of reasons, they may be keen to sell. I feel a cheeky offer coming on.