Burn Terrace catches the investors eye

There's a property that caught my eye this week, although it's not on with a Spennymoor estate agent is this-

Burn Terrace, Spennymoor, County Durham, DL16

http://www.rightmove.co.uk/property-for-sale/property-47774389.html

It's a 3 bedroom end of terrace house on Burn Terrace on the market for £99,500. I've stated until I'm blue in face about portal pricing and this is one of the worst price points I've seen. A more detailed description of portal pricing and what it means is featured in my blog below-

http://eaboost.blogspot.com/2014/05/why-portal-pricing-really-matters.html

The agent has chosen to lead with the living room photograph, and this does show off the property in a better light than the front photo. I'd have tried to do something with the front of the house, such as a fresh coat of paint or some plants. It would set it off differently and promote the property to potential buyers, for a relatively small cost.

I believe that the property would get a monthly rental returning between £375 and £425. Based on the asking price, this would give a potential gross rental return of between 4.5% and 5.1%, which is an average rental return, if not quite up to the standard accepted measurement if 6%.

Have a look.