Diane's Nottinghamshire Property Blog - 23/09/21
Sep 23rd, 2021
A great investment opportunity located-on Daisy Road, Mapperley, Nottingham NG3 6HH.
Link to the property on Rightmove:
https://www.rightmove.co.uk/properties/109020026#/?channel=RES_BUY&channel%20RES_BUY
I have just come across this excellent investment opportunity in Nottingham. A super residential street in a sought-after location.
Currently, the property is listed on Rightmove with Holden Copley at £180,000, and this is what you get:
Two double bedrooms
Two reception rooms
Four-piece bathroom suite
Modern fitted kitchen
Popular location
Low maintenance garden
On-street parking
No upward chain
Double glazed windows
Gas central heating
In my opinion, this property can be easily converted to a three-bed, which is critical in my thought process in terms of investment opportunity. If I were to buy this property, I would convert one of the downstairs reception rooms into a third bedroom. As this would not meet the criteria for a mandatory HMO Licence, nor is it in an article 4 area, additional licensing would not be required. Houses in multiple occupation – Gedling Borough Council.
I would be looking to rent out each of the three rooms at around £450 per person PCM. This would achieve a very healthy gross of £1350 pcm – 9% yield.
As always, I would evaluate any potential costs that I would need to factor in prior to making any offer. The roof may need some attention; this however would not put me off if I had factored that in to my calculations.
The property looks to be in good condition, clean and tidy, and on a respectable residential street. Located in Mapperley, just off Porchester Road, it is close to the city centre bus links and nearby shops. I believe you would have no issues when renting out this property. This would make an excellent rental option for nursing staff and other City Hospital employees.
Potentially a great buy to let deal providing the potential to increase your equity with the scope to remortgage to fund your next investment.
Please take a look at my short video discussing this property further, click the link below to be redirected to the video: