Buy-to-let deal of the week: 3 bed house in Fishbourne, £275,000, 4.6% yield:

This 3 bedroom house in Fishbourne is in immaculate condition, having been built only 3 years ago. It is a good size, with two nice sized double bedrooms and a large single. As you'd expect from a new(ish) build it has gas central heating, double glazing, a downstairs cloakroom and an en-suite to the master bedroom. It also benefits from a garage, which you don't always get with new-builds locally.

Due to it's excellent condition it is ready to rent immediately and would be popular with tenants. It should rent relatively quickly at around £1,050pcm, giving a yield of 4.6% based on paying the full asking price of £275,000. That's a decent yield, particularly considering it's a freehold house in immaculate condition that should be relatively maintenance free due to it's age.

The asking price is also reasonable based on comparables locally, including a 3 bed house on the same estate for £315,000 (albeit a larger townhouse style property). Also, the asking price is only a 5.8% premium over the price paid when the house was purchased new in February 2012 (£260,000). This compares favourably against an average rise in value of 13.9% on the estate in that time, according to Zoopla.

For an investor looking for a low-hassle purchase with good credentials for tenant demand and capital growth, I think this modern property would make a great buy-to-let.

Full details can be found on Rightmove via the following link:

http://www.rightmove.co.uk/property-for-sale/property-50630603.html

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If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on clive@crjlettings.co.uk or call 01243 624 599.

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