A landlord of mine called me on Wednesday last week as he had recently
missed out on a 2 bedroom property in Hazel Road, Botley (opposite Botley
Arcade) which sold in a matter of days. He had also been looking
at a 3 bed in Cumnor, and that went within 2 weeks. He wondered if
there was anything special about the area so I decided to do a little research
.
I have highlighted Hazel Road, Finmore Road and Cumnor as
locations for my Botley review, all of which are 1970's build houses
with 1, 2 or 3 bedrooms.
The 2 bedroom property in Hazel Road was sold at £250,000. If it
was offered to decent standard it would attract a rent of £1025pcm which offers
a yield return of 5%. Finmore Road's 1 bedroom converted flat sold at
£149,500. This had a complete internal redecoration and commanded a rent of
£795pcm which offers a fantastic annual yield of 6.3%. And finally a 3
bedroom property in Appleton Road, Cumnor which was purchased in January.
This property offered 3 double bedrooms, garage and summer house and
provided the perfect property for families looking to settle. The purchase
price was £350,000 and it achieved a rent of £1600pcm giving it an annual yield
of 5.4%.
Rather than go on and on, I will leave you this; All 3 locations showed
a 20+% capital growth rise in the last 5 years
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