This two bedroom ground floor flat on the back of the Law has been significantly reduced in asking price. http://www.zoopla.co.uk/for-sale/details/40332033?search_identifier=c77725b0ff6229d06fe21cde7999b899#5SCzWzWcPFxWUYSC.97
Its currently being advertised at £69,500 and I think should rent comfortably for anywhere between £440 maybe £460, which gives a yield of 6.96% using the lower figure. Capital appreciation in this area has been around 9% over the last five years.
Now the interesting thing is the book valuation according to the Home Report is £95,000 and this property has been significantly reduced in price. The area is fine, though nothing to rave about, the internal photos look good, spacious and well renovated/maintained.
Which begs the obvious questions, is there something fundamentally wrong with the property/block/location that isn’t apparent from the property details or would the owners be own to a “cheeky offer”, could this be, as one of my employers said about me when I was much, much younger a “diamond in the rough”.
The truth is without a good root around your not going to know, but its certainly one I would think about exploring further.
