2 bed flat in Dennistoun offering 7% yield

I have just seen this 2 bedroom first floor flat on Roselea  Drive come on the market with Allen & Harris. They are looking for offers over £90,000. 

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The flat looks like it could benefit from a some cosmetic updating and maybe a new kitchen, which should cost you no more than £10,000. 

Dennistoun is a good rental area close to Glasgow town centre and Strathclyde and Caledonian Universities and it benefits from good transport links. 

Properties of this calibre and type would normally rent out quickly. According to the latest Citylets stats, rents in the area are up 5% year on year and the average flat only takes 23 days to rent. In terms of rental return you should expect around £600 a month.   

So looking at the figures, if the property costs you £105,000  (purchase price of say £95,000 and £10,000 spent on updating) and you rent it out at £600 pcm you will achieve a good yield of 6.9%.

The key to property investing is buying the right property in the right location. If you would like to have a chat regarding this, or any other property, then why not give me a call on 0141 221 1827 or drop me an email on derek.livingstone@douglasdickson.co.uk.  At Douglas Dickson we are always happy to give you our unbiased opinion. Likewise, if you want to take the hassle from finding the deals yourself, we offer a property sourcing service – click here to find out more.