I used to rent out 2 flats in Edinburgh. They were quite central (5-10 minute walk to Holyrood Park) or Playhouse/East End of the centre.
They were tiny but nice and cosy with fresh decor and decent kitchens/appliances. They were also in a very pretty street.
I started renting in 2015 and I think it went for £595. The second one which was slightly more modern went for £650 in 2017 but by 2018 it was up to £725 per month. I had so many applicants that I could have let it easily 100 times over. People were showing up to viewings trying to cram cash into my hand (which of course I didn't take)
In 2019 i sold both flats as I was leaving the area. These flats now rent out for £950 per month.
This didn't include any bills so the tenant had gas/elec and council tax on top.
The flats were 1 decent size bedroom, 1 tiny showeroom, my livingroom with the kitchen partitioned off in the corner. The entire flat had 2 windows (none in kitchen or showeroom).
I sort of wish I had kept one of them now both for an investment and also cos I miss Edinburgh a bit.
Prices rose dramatically as well over that period. I bought the first one in 2014 from just over £95K. When I sold in 2019 I got 160K for one and 170K for the other. They are now selling for as much as £185K. I spent about 5K doing one up and the other I spent about 2K.
I confirm Edinburgh is very expensive.
I also used gumtree to let out and I never ripped anyone off and always got things fixed promptly etc. There are bad landlords on gumtree no doubt but there are decent ones too.
However I don't think I would want to be a landlord again. Its a fair amount of work if you do it right and it's heartbreaking if the tenant does not look after the place especially when you have taken pride in making it nice to let out.
Agree the flat in advert looks utterly depressing. Probably with a lick of paint and fresh laminate and getting the fridge door fixed etc, the price is about right.
People are utterly desperate so yes he will let it although I imagine whoever takes it will continue to look for a better place.