An unusually large 2 bedroom 2 reception 1st floor apartment situated just off of the High Street in Lincoln.

We agree that it is not a particularly stunning looking property, however it is a good lead in value unit and the yield speaks for itself.

The property offers 2 bedrooms, 2 reception rooms, kitchen and bathroom.

Lincoln is a University town, therefore this property offers a number of options for the landlord. The local agent has assessed the rent at £425 per month which gives a yield of 8.7% which we suspect can be increased if rooms are let on a individual basis.

To add extra value to the deal there is a greatly reduced finders fee of just 1% on this deal.

Market price £69,950

Purchase Price £58,000

Instant Equity £11,950

Monthly rent £425

8.7% yield on net price

Pinnacle finders fee £690 +vat

£500 reservation fee to reserve the property which is taken off of the completion monies.

There have been a few properties within 1/4 mile of the postcode which have recently sold.

Sold

Apartment £90,500 Oct 2007-Same Road
Apartment £75,000 Aug 2007-Same Road

On market

3 bedroom apartment £80,000
2 bedroom apartment £70,000
2 Bedroom apartment £69,000

There are no current 2 bed apartment below £69,000

The above have been taken from Rightmove the property portal

The current owner has completed on another purchase and the property is empty.