Every so often we use our expertise to search the local Leeds property market for good potential buy to let property investments, not only for new landlords looking to invest in the Leeds residential property market, but also portfolio landlords looking to bulk up their current property portfolio.
We believe this 2 bedroom house for sale in Hyde Park, Leeds, would make a great property investment.
6 Harold Walk, Hyde Park, Leeds, LS6 1PS – £159,950
Harold Walk is in a really great location. Easily walkable to the University, whilst being on great transport links to the City Centre via bus or train.
This good size 2 bed house for sale is currently being marketed by Castlehill Estate Agents located in Headingley.
Although not currently tenanted, we believe that if you were to rent this house as a 2 bed in its current condition, then a rent of £750.00 would certainly be achievable.
If you were to invest some money into it with new carpets, decoration and furniture then I believe you could achieve closer to £825.00pcm.
This would then give a yield of over 6%.
According To The Agent’s Property Details
- Characterful end back to back
- Two double bedrooms
- Useful basement room
- Quieter cul-de-sac position
- Close to shops, cinema and city centre
- EPC Rating – D
- Sunny southerly aspect
You can find the actual particulars here.
What Makes This Property A Good Buy To Let Investment?
Firstly, whilst we have seen much higher yields in the past, a yield of 6% on any property in Leeds is still a decent yield.
I believe if you were to make more improvement to the property such as a new kitchen and bathroom then this yield could be pushed even higher, as the area is great as well located for both students and professionals.
Also, if you have read Castlehill’s property details, you will see there is also a third room in the basement, with a utility area off to the side. This has not been marketed as a third bedroom, I suspect because the house either does not have class C4 use under Article 4 Direction ([What is Article 4 Direction?](https://bit.ly/Article4Direction1)), although there is nothing stopping the owner from putting in planning permission for change of use.
Another reason may be that the basement is not sufficiently tanked, and therefore could be classed as uninhabitable.
It does state that the room is useable though, and would be _’ideal for storage or a gym/hobby room.’_
One demand we have noticed from renters, since the days of Covid-19 and lockdowns, is the want for a spare room in the event the tenants need to work from home. This third room would be a very attractive benefit for renters, and could command more rent.
Another great benefit to this buy to let property is its EPC rating of D. Whilst this may not be much of a benefit now, come 2025 there are new regulations coming into force where having a rating of D would mean less cost to meet these new regulatory demands ([What new regulations?](https://bit.ly/EPCUpdate)).
According to the Energy Performance Certificate, by carrying out the EPC Inspector’s recommendations, the EPC rating can be brought up to a B.
Finally, you will notice from the external photo of the property, that there is a very useful adjoining enclosed locked store room. According to Castlehill, the seller is in the process of applying for adverse possession.
What Now?
If you are interested in viewing this property as a serious investment, then give the team at Castlehill a call, or you can book in viewing direct with them by clicking ‘Request A Viewing’ on the details on their website.
It may even be worth checking out current rates for buy to let mortgages.
Or, if you would like to discuss this property from the point of view of renting it out to tenants, and would like one of our team to get in contact, then simple press the red button below and we’ll give you a call back.
Disclaimer
Disclaimer – The information displayed about this property comprises a property advertisement. Redbrick Properties (Leeds) Ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. The above does not constitute property particulars. The information is provided and maintained by Castlehill, Headingley. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
