Deal of the week - Kidlington

Morning all,

Back again with another steal............

Me ol favourite has come up with another beauty! Currently on the market in Wilsdon Way, Kidlington with Chancellors for £205,000 this is prime letting location and the recent history for rental progress and capital gain is very good.

Firstly we look at the necessaries. This one needs a lick of paint throughout and certainly a replacement bathroom to bring it to modern standard. New furnishings are also in order so I anticipate an initial outlay of approx £3000. The great news is that there is plenty of margin for this if you are smart with the numbers.

At the right standard you are looking at a rent of £1000. Against the current asking price that gives you a 5.8% yield. I know of not many that settle at asking price for a purchase and neither should you, but you must gauge the interest for this as it is investor heaven. Interestingly it is priced about right as well. In February 2016 a very similar one bedroom maisonette (with a dodgy bathroom!) sold for £217,000 (leashold) and in March 2015 a similar one bedroom flat in this location sold for £172,500 which demonstrates this locations steady capital rise.

The rents have differed ever so slightly in recent times between £925- £1000pcm but such is the flexibility on this one that it allows for this movement in rent IF (and I stress if) it was necessary. At a rent of £925pcm the yield is still 5.4%

All in all this is a cracker. I have overseen 3 in this location since 2014 and they have been of minimum fuss.

Call me for more. Or call Chancellors and book in then call me! It says offers over but hey, who is going to do that??

Best regards

Richard