£70,000 guide price on this 3 bed modern Lancaster town house. Potential 8.5% gross return!

I’d be intrigued to know why the reserve has been set at on this 3 bed home!  £70,000 is cheap,  especially when I look at what they have previously sold at.  ( The last home on here sold in 2008 for £105,000 ).

I’ve looked at the details trying to find the catch.  This home looks nice!  It’s modern and comes complete with private parking and a south facing garden.  It was built by Jackson Homes, in the mid 1990’s.

Over an 8% return on this Lancaster property

Pinfold Lane, Skerton A property bargain. Can you make it to the auction?

 

You can expect to achieve a monthly rental of £500 for this home.  If you got it at the guide price, you’d get a gross return of 8.5%.  If you have to pay £80,000, you still yield a healthy 7.5%.  far better than the bank is currently giving you.

http://www.rightmove.co.uk/property-for-sale/property-45394809.html