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Davy Street, Ferryhill, DL17 8PN - 10-11% Rental Yield

£60000.00

 

Davy Street, Ferryhill, DL17 8PN - 10-11% Rental Yield

£60000.00

or call: 01483 663001

Refurbished and Tenanted 3-bedroom mid terrace house.

The property is freehold.

The property briefly comprises of entrance stairs to first floor; lounge and large kitchen 

First floor landing, 3 bedrooms & bathroom.

The property is in a good area for rental properties and for first time buyers.  

EPC Rating C

Refurbishment Work. 

Included in the price of the property, we will ensure that this property is to a minimum of the Durham Decent Homes Standard  and also to the current Selective licensing conditions (durham.gov.uk) and as part of the sale we will also provide a warranty to cover any snagging issues on these items free of charge within your first 6 months of ownership.  This includes the carpets - photos will be updated soon!

For more information please click on the following link - refurbishment-process

Rental figures

This property has 2 options regarding letting. 

1) It can be let at  £6,000 per annum, £500pcm which gives a yield of 10%. To find out more about the management services that we offer please click on the following link - services-provided-by-ready-to-rent                                

2) It can be let to a local housing provider on a 6 year lease for a minimum of £575 pcm,  £6,900 per annum, which  is an 11% rental yeild and equates to £41,400 over the 6 years!

  • During the lease period the leaseholder will pay the council tax and utility bills, plus any tenant damage, so the property will be returned to you in its original condition less any reasonable wear and tear at the end of the lease period.
  • To secure the lease an extra £5,500 work will need to be done on the property to include extra work such as - 
    Fire Doors & Digital locks 
    Emergency Lighting
    Smoke alarm in every room
    Oven and hob
    Fire blankets
    Plug sockets at the ceiling level in every room for their camera system
  • As the landlord for the property, you will still pay the standard management fee for us to manage the property for you to make sure all the certificates are kept up to date and be the first point of contact for any maintenance issues, and you will be responsible for the any payments to maintain the property following the 6 month warranty period that we offer to cover any snagging issues following the refurb.

Please let us know when you enquire about this property if you are interested in this option.  It has been popular for other landlords in the past.

For more information please click on the following link - https://www.readylet.co.uk/blog/6-yr-guaranteed-leases-with-red-supported-living-a-community-investment-company