16:29 PM, 13th June 2013, About 8 years ago
Salford has a strong rental demand; professional workers like the easy access to the City of Manchester and there continues to be strong rental demand from Salford university students.
Students tend to like renting 2 or 3 bed properties near Salford University and one area that seems to be popular with students is the M3 post code. Rooms in a shared flat are rented for £ 100 and £125 per week.
One Touch Property Investment are working with a motivated seller who is keen to let go of their 2 bedroom apartment in Salford. Similar properties in the same Road sold for £ 134,597 last year; however, they have priced it for a quick sale at £ 107,995.
That is a whopping 20% below market prices!
The two bed, two bath apartment is popular with young professionals and it is currently tenanted at £ 695 per calendar month. The Net yield is 6.94%.
The yield could quite easily be increased if the property was rented to students.
Considering that the property was built in 2008 and is still within its builders warranty period, this means that it will be pretty much, hassle free for the next five years. Furniture is included in the price.
The BBC moved to Salford in 2010 which has created more jobs. The Manchester economy is only second to London and there is still another £300 million area regeneration set to take place in Salford. By now you probably realise that it is safe place to invest.
This is Not one of those No Money Down deals.
If a tenanted apartment at 20% below market value in Salford is of interest and you have the 25% deposit required for a buy-to-let mortgage.
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