There have been a few properties ‘hanging around’ on the Bo’ness property market for some time now and the owners are beginning to reduce the prices as, obviously, they are keen to get them sold.
I have mentioned a couple of these properties on The Bo’ness Property Blog before so I thought that I would remind you of them and there reduced prices.
The first property is the 1-bed flat in South Philpingstone Lane in Bo’ness. The flat, which is in good decorative condition, has a lounge, a separate modern fitted kitchen, a double bedroom and a modern bathroom with a shower over the bath.
The second property is the 1-bed first floor flat in Liddle Drive in Bo’ness. It has a lounge, a separate fitted kitchen, a double bedroom and a bathroom with a shower over the bath. There is a shared ‘garden’ area at the rear and on street parking. The flat needs a bit of refurbishment – for example, the kitchen and bathroom are a bit ‘tired’.
The South Philpingstone Lane flat’s price has recently been reduced to offers over £40,000; let’s say is goes for £45,000. I would expect that you would get rent of £425/month which gets you to a gross rental yield of 11.3%.
The Liddle Drive flat’s price has also recently been dropped this time to offers over £50,000; you may get this property for a cheeky £52,500 or more likely a less cheeky £55,000. I estimate that refurbishment costs may be £5,000 which would take the property cost in the range of £57,500 to £60,000. I would expect that you could get a rent level of £425/month based on the flat being refurbished which would give you a yield of 8.5% - 8.7%.
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