Summary:
3 bed link-detached house in Fishbourne
Listed for sale on 12/11/15 @ £245,000
Rent = £975pcm
Yield = 4.8%
Last sold in February 2009 for £170,000 (+44% in 6.5 years)
This good sized three bedroom house in Fishbourne, one of my favoured areas for plucking out local buy-to-let bargains, is available to buy with Stride & Son.
It will take a few coats of paint to cover up the bold colours on the wall, but once that's done you'll have a freehold house with three double bedrooms, a modern kitchen and decent bathroom in a popular location. It has a South-facing garden, two allocated parking spaces, gas central heating and double glazing. All the hallmarks for a reasonably low-maintenance family let.
Along with a solid 4.8% yield (based on achieving £975pcm and paying the full asking price of £245,000) you'll also get a property that has proven itself in the capital growth stakes. It has risen 44% since selling in February 2009 for £170,000. This house shows property's not always a one-way street though, as it had sold just six months earlier in August 2008 for £190,000, meaning that owner was £20,000 out of pocket (plus stamp duty and buying & selling costs).
As it's all been about stamp duty this week; let's consider that you'll pay £2,400 stamp duty if you buy it before April 1st. Buying it after April 1st will mean the cost rockets to £9,750 - that's an additional £7,350 to pay! Perhaps it's proof that many buy-to-letters will get in quick before the rise in stamp duty, although they still need to be careful they're buying the right property and the right price.
Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-52164010.html
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