Investment potential on Chestnut Avenue

Although there seems like a lot of refurbishment work to be done to this property, it looks as though there may be some investment potential in this ; bedroom Spennymoor property-

 CHESTNUT AVENUE, SPENNYMOOR, SPENNYMOOR DISTRICT

http://www.rightmove.co.uk/property-for-sale/property-48540317.html

Priced at £55,000 for a 4 bedroom semi detached house, there is and always will be a strong rental demand for family homes in the Spennymoor area from private and housing benefit tenants.

The property itself looks like it needs some TLC, but offers a good size of accommodation and would present any investment landlord with a good potential for rental return.

I'd expect a rental return of between £425 and £475 per month, which wpuld give a gross rental yield of between 9.2% and 10.3%, based on the asking price of £55,000. This is a good rate of rental return for an investor, with 8% always quoted as an industry benchmark.

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