I came across this excellent investment opportunity; it’s a 2-bed end of terrace house—the property located on 72 Dale Road, Carlton, Nottingham, NG4 1GT could be worth a look.
Currently, the property is on Rightmove with David James for £150,000, which I think is more than a fair price. I, for one, am always on the lookout for a deal, so I would be looking to negotiate.
The property has:
- Two double bedrooms
- Two reception rooms, with an extra sitting room
- Fitted kitchen
- First-floor family bathroom with white suite
- Lawned rear garden with patio area
- Gas central heating
This property has the potential to be not only a 3-bed but a 4-bed, without you having to extend into the garden space. Due to the layout of the ground floor, there’s potential to convert two of the downstairs rooms into two more bedrooms. This would enable you to rent out this property to three/four separate individuals rather than a family, which would mean you could achieve more gross rent PCM. Converting one or two rooms into extra bedrooms would also increase the properties equity. I do not believe you would have any issues obtaining planning permission for this, as many developments are evident in the area.
In my opinion, you would have no problem when renting this property out. If you were to convert two of those rooms into bedrooms, making this a 4-bed property, you could charge £450 pcm x 4. This would equal £1800 monthly, giving you a yield of 14.4%, making this a great investment opportunity.
The property is located in a great area for renting, with easy access to amenities on Carlton Hill. The location is close to the city centre, with lots of easy access bus stops within walking distance. Just opposite the house is a shortcut through which gives you easy access to Parkdale Road.
The property is in good condition; however, I do not take too much notice of a property’s décor. What is more important to me is what I could potentially do with the space to deliver the returns that I am looking for.
Take a look at the property on Rightmove:
I have also created a video discussing this investment and what I would personally consider. If you would like to watch my video, please click the button below: