Research amongst tenants in Melton Mowbray has shown that if a property has large rooms and is in good order then tenants will overlook parking restrictions. They consider parking on a close residential street acceptable if they feel they are getting good value in terms of room sizes and quality of decoration.
With that in mind a large three bedroom semi-detached property for sale on Mill Street would make a good investment. For sale at £120,000 it should let for £550 pcm as this was recently achieved for number 45 Mill Street. This would give a potential yield of 5.5%.
Mill Street offers good access to the town centre and train station and these properties can have large gardens.
It is always important to check when investing in property that it is going to appeal to tenants in the current rental market as an empty property will soon hinder the performance of a property portfolio.
If you would like any advice or unbiased opinion on what (or not) to buy then please pop into our office on Burton Street or call Charlotte or Katie on 01664 569700
