This property is ideally located in Stanley just 1.5 miles from the centre of town, the property comprises of a modern kitchen/ dining room, a large lounge, two bedrooms and a bathroom. Externally there is an enclosed yard to rear. The management company have already screened the tenants and they will place the tenants once you have closed on the property. This property is managed by a great local management company.
There are local shops and facilities available within New Kyo and nearby Annfield Plain. A more comprehensive range of facilities are available within nearby Stanley town centre. The A693 highway provides easy access to Chester le Street (A1M), Consett and Tyneside.
Purchase price: 42,900
Gross annual rental income: £5,100
Property running costs: £1,940
(Tax, insurance and management costs)
Net annual rental income: £3,160
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 11%