The Leeds Student Rental Market Property Blog
This blog follows the student buy-to-let market in Leeds from the LANDLORDS point of view. You'll find tips, guidance, and analysis that relates specifically to Leeds and you'll also find student properties from all the estate agents in the town on here that may make decent investments. I operate Springwell Easylet in Leeds and if you're thinking of buying a property to let in Leeds to students, as I don’t sell property (just rent them) I'm happy to offer a second unbiased opinion
Wednesday, 6 January 2016
Potential 13% ROI in Woodhouse
This 5 bed on Burchett Terrace in Woodhouse is on the market for £160,000, and is currently empty. It has fantastic potential for developing into a good quality 6 bed, which if done to a high enough standard would rent for around £79pppw, or £24,648 per annum.
The basement is already converted so just needs some alterations to convert it into two decent sized bedrooms with Jack and Jill bathroom. The rest of the house really doesn't need any structural change, just a complete refurb with a new kitchen and bathroom, get rid of the dreaded wood chip wall paper and replaster where necessary, LED lights in the communal areas, re-decorate throughout and new carpets and furniture.
I reckon you could easily do all this for £25,000, so if you paid asking (which is becoming more of a challenge lately!) then with a total outlay of £185,000 that's a fantastic return of over 13%.