BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £245,000, 4.8% yield
Summary: 3 bed house in Chichester Listed for sale on 04/02/16 @ £245,000 Rent = £975pcm Yield = 4.8% Last sold in December 2010 for £170,000 (+44% in 5 years)
Located in the popular Charles Avenue estate in Chichester is this good sized three bedroom end of terrace house.
There are no internal pictures from the current agent but I hope it's been vastly improved since it was last sold in 2010 (the archive listing from this date shows it needed a full cosmetic makeover inside, including new kitchen and bathroom). If that hasn't been done then it's hard to justify the 44% increase since it sold back then for £170,000. It is now for sale for £245,000, a fair price if it has had at least some work done to it inside.
One thing that hasn't been done is the addition of gas to radiator central heating (the listing indicates it still has an old fashioned 'warm air' heating system). It does, however, have the benefit of UPVC double glazing.
A good sized property such as this should rent to a young family for around £975pcm. This would provide a very good 4.8% yield based on paying the full asking price. Dependent on the condition inside, it could make for an excellent buy-to-let, benefiting from a solid yield and a proven ability for capital growth.
It is on the market with Southdown Estates and full details can be found on Rightmove via the following link:
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.
No comments:
Post a Comment