A delightful one bedroom apartment built about 8 years ago in the Chells Manor area of Stevenage and offered in good condition throughout.

The property is offered with a 25% discount based upon a market value of £115,000 which provides an amazing discount of £28,750. The vendor has just reduced the price from £119,000 which was the figure given to her by local estate agents.

The property should let at around £550 + which based on the net purchase price will give a strong yield of 7.7%. We believe there are only a small number of apartments in the building which should make the property easy to let.

The property offers a lounge, kitchen, bedroom and shower room and has it's own parking space behind a walled courtyard.

Stevenage is a great location with good road links to London and the Midlands and a mainline station which connects to London Kings Cross.

A good lead in value property with great rental potential.

Market price £115,000

Purchase Price £86,250

Instant Equity £28,750

Monthly rent £550

7.7% yield on net price

The vendor has been informed that the buyer will pay £500 towards legal fees. Pinnacle finders fee 2.5% +vat

There have been a few properties within 1/4 mile of the postcode which are on the market or have recently sold. We have therefore looked back over an 8 month period to provide some examples.

On market last 8 months

1 bedroom apartment £120,950
1 bedroom apartment £119,950
1 bedroom apartment £117,500
1 bedroom apartment £117,000
1 bedroom apartment £114,995
1 bedroom apartment £111,995
1 bedroom apartment £107,995

The price differentials occurred due to the location and age of the apartments.

The above have been taken from Rightmove the property portal

The current owner would like a quick sale as they have negotiated a good price on a new property they want to go to and accept that a discounted sale will get them a quick sale.