Sometimes you need to look beyond the area a property is in and see whether the specific BTL opportunity makes sense regardless of the area .... and this is one of these times.
The flat is in Labourfield in Sighthill. Now, Sighthill is not the bonnyist part of Edinburgh but the flat is modern, well maintained and is priced to get a decent return so this flat is worth considering.
This apartment, which is in a modern block, has a lounge, a separate fitted kitchen, a bedroom, a bathroom with a shower over the bath and a box room. It also has double glazing although it only has electric heating. There is an allocated parking space as well as additional on street parking.
Let’s do the maths.
The asking price for this property, which is on the market with McEwan Fraser is offers over £77,995. A couple of things to note – the flat has been on the market for a while now (15 October 2015 to be exact) and it looks like there is at least one child staying in the 1 bed flat. Both these things suggest that the seller would be open to ‘doing a deal’ on price so let’s say it goes for £82,500.
A flat like this in this area will rent for £525 pcm so that gets you to a yield of 7.6% which is good given that it is in Edinburgh and as it is a fairly new property so maintenance costs are likely to be lower.
We hope you find our posts useful. If you would like some advice with your potential investment, please call me (0131 603 4570) or email me (firstname.lastname@example.org).