£70,000
Railway Terrace North
- 2 beds
£70,000
- 2 beds
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Pure Investor brings to the market this 2-bedroom mid-terraced property for sale at Railway Terrace North, Herrington, Tyne and Wear. The property is currently tenanted with the rental income being £595pcm (£7,140pa). A full refurbishment of the property was recently undertaken before the new tenants moved in, some of the major works that took place were a new roof, boiler, flooring throughout and decoration. The property also includes a large rear garden which has been separately let to the tenants for £20pcm (£595pcm overall).
The property comprises: a living room with new flooring, a radiator, a front window and stairs. The kitchen includes integrated appliances such as a sink/drainer, hob, cooker and extractor, tiling, new flooring, radiator and window to complete the room. The family bathroom is downstairs and includes a bath, toilet basin and sink with partially tiled walls and a frosted window. Upstairs are two bedrooms which are carpeted and decorated.
INVESTMENT INFORMATION
- Offers over: £70,000.00
- Current rental income: £575.00pcm + £20.00pcm for the rental of rear garden = £595.00pcm
- Annual rental income: £7,140.00
- Gross yield: 10.2%
- Management fees based on the average of 10%inc VAT: £714.00pa
- Net income: £6,426.00
- Net yield: 9.2%
- Tenure: Freehold
- Recent sales in the area - https://www.rightmove.co.uk/best-price-guide-report/73ff2981-c7c9-49d2-b238-c7ddce0a6c16
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