How have two bedroom property prices done in Quantock Road, Long Eaton
68 Quantock Road was bought on 23rd August 2000 for £36,000 and the last registered sale of this property was on 7th September 2007 for £101,500.
This represents a capital appreciation of £65,500. This is a 182% increase in the property value over 7 years or 26% per annum.
How much would a property like this rent out for?
Belvoir have just let a similar property on the same road for £525 per calendar month. The tenants moved in on 1st May 2015. If 68 Quantock Road achieved the same rent the annual gross yield on the original purchase price is 17.5% or on the last sale price the yield would be 6.2%.
The price paid and the rent achieved are important but so is the location and how quickly the property would let out. The property we let out recently for £525 per calendar month was put on the market on 16th April and the tenants applied for it on 22nd april, we then moved them in on 1st May.
What type of property are we talking about about?
A relatively modern town house with two bedrooms, lounge, kitchen/diner, garage and front and back garden
What tenants would rent this type of house?
A young couple, two sharers, a single parent with a child, a young couple with a small child or a person living on their own.
Recent two bedroom property sales on the road:
27 QUANTOCK ROAD SOLD ON 20 FEBRUARY 2015 £99,000
26 QUANTOCK ROAD SOLD ON 2 FEBRUARY 2015 £106,500
54 QUANTOCK ROAD SOLD ON 26 SEPTEMBER 2014 £94,000
Frank Innes have recently sold subject to contact a two bedroom house on the same road with an asking price of £100,000-£110,000
If you would like some buy to let advice, please contact rob or grant on 0115 9724027 or nottinghamsw@belvoir.co.uk
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