This one-bedroom flat entered the Medway property market on Tuesday and is listed for £115,000.
It looks to have been converted out of a house. As it is very close to Gillingham station and looks to be in a relatively good condition it should be easily lettable at £650-675.
Factoring in a two weeks’ void period, which I find typical for this kind of property in the area, and including £3,450 Stamp Duty and legal fees the gross yield comes to 6.25%.
So what about capital growth? Well prices on Gillingham Road have risen 31.89% in the last five years which has averaged at £51,807. So this buy-to-let deal in Medway could be worth a look.
If you wanted to talk about investing in Medway property, give me an email at email@example.com, or call me on 07944 726676. As I’m I only do lettings, I’m happy to give impartial advice on any property you are considering regardless of which agent is selling it. I’m also the only letting agent in Medway to specialise in HMOs, so I’m happy to advise on that as well.