We were talking to a landlord recently, who was considering whether a 2 bed cottage in Penryn or
a 2 bed terraced house in Falmouth would make a better buy-to-let investment. He was particularly interested in which would offer a better rental yield. We set about doing some research to help him with his decision.
We have been reviewing current properties for sale at these locations and, at the time of writing
this article, there is a 2 bed cottage in Chapel Lane Penryn with a recently reduced asking price of
£149,950. This should achieve a market rent of c. £675 pcm giving an annual gross yield of 5.4%.
More if the actual purchase price achieved is lower!
This property last sold in 2008 achieving a sale figure of £129,000 meaning it has increased in value by over 16.2% since then, although some cash has been spent refurbishing it.
On Trevarth Road in Falmouth there is a 2 double bed end terraced house advertised with an asking price of £167,500. This house was last sold in 2007 for £154,000 showing an increase in value over a similar period of 8.76%. This property should achieve a rental figure in the region of £700 pcm giving an annual gross yield of 5.0%. However the downstairs bathroom can be a negative feature.
Ultimately, we found both properties to be good investments for rental yield but it will come down to careful selection of the property to achieve the best returns.
Belvoir Lettings Falmouth don’t sell property - we are lettings specialists, but we do give advice
on what might make a good buy-to-let property in Falmouth and the surrounding areas. We don’t
charge for this service but we would like to manage your property or help you find great tenants!
Why not call Annabel Leach on 01326 210304 for an informal chat or pop in to our office in Killigrew Street, Falmouth.
www.belvoirlettings.com/falmouth
Email: annabel.leach@belvoirlettings.com
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