Currently on the market with Connells for £290,000 you can expect a rent of £1100pcm which will give you a 4.5% yield. Not too bad at all, but it should be better.
I don't agree with the valuation on this one I'm afraid. Recent selling history again backs me up here. Even if I consider that properties can and will be different I don't think it warrants the difference.
Number 5 Columbine Gardens sold for £270,000 on the 1st August this year with 21 Columbine Gardens selling for £275,000 in March this year. I don't know many properties that appreciate that quickly let alone stating it as 'guide price'.
Naturally the market dictates and there will be interest in this. It does still have question marks against it other than price. One of these being condition as there are no internal pictures on offer (disappointing!) however it is worth a closer look. This location and Greater Leys in general is hugely popular. Case in point a property let in Fieldfare Road last week within 3 days for £1125pcm and Peartree Close, Greater Leys last month for £1100pcm. I could go on.
Recent capital appreciation looks good too. On August 29th 2013 a two bedroom property in Columbine Gardens sold for £198,000. Based on the recently sold properties at £270k this is a good return in 3 years.
Happy Tuesday.
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