2 Bedroom Terraced House (Now Sold)
Attlee Way, Cefn Golau, Tredegar, NP22 3TD
Purchase Price = £34,950 + vendor legals
Rental Income PA = £3,900 to £4,740+
Suitable for a serious buyer with the means to purchase all-cash and complete a refurbishment. (I'm not aware of any buy-to-let mortgage available to finance any property with a purchase price of under £40,000, hence this deal is only available to cash purchasers.) After refurbishment, the value of the property will be sufficient to secure a mortgage and so you may seek to recycle your initial capital after the work is done.
LHA Housing Benefit 2 bed rate pays £75/week (£325/month, £3,900/year). You may be able to achieve a higher rent by requesting a rent top-up, or by renting it to a working tenant. I note that other 2 bedroom properties are available locally for rent for up to £395/month (£4,740/year):
Full Market Value after refurbishment is conservatively estimated to be £50,000+. The most recent sold prices on the street fetched £60,000 and £82,000:
Bedroom One (double)
Bedroom Two (double)
Family Bathroom (first floor)
W/C (first floor)
Large Enclosed Rear Garden
More photos here: http://bit.ly/1CbRBKp. A video tour and viewings are available upon request.