Now don’t be put off by the external. This is a popular residential area on the outskirts of Dundee. This three bed (see link below), mid terrace isbeing advertised by Purplebricks.
Now as the internals show the property would benefit from a makeover in most areas. Personally I would knock through that ‘store’ on the floor plan into the kitchen, which would make a very nice sized kitchen/diner.
The EPC is a D and so meets the governments proposed minimum requirements.
With an asking price of offers over £90,000 I think they may be being a little ambitious.
One thing to bear in mind is that it is ‘might’ be non-standard construction, which will affect its appreciation and cause issues with getting a mortgage. That said we have a mortgage advisor who could probably deal with that.
Capital appreciation has been running at about 21% over the preceding 5 years for terrace properties in this area.
I’m generally conservative when estimating the rent, so lets say around £595 per month, which is a gross rental return of 7.27%.
Certainly for someone who fancies a small project to either do up and move on or as a buy to let, I think it has possibilities.
