BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £230,000, 4.8% yield
Summary: 3 bed house in Chichester Listed for sale on 14/03/16 @ £230,000 Rent = £925pcm Yield = 4.8% Last sold in December 2003 for £165,000 (+39% in 12.5 years)
New to the market this week is a three bed mid-terraced house that I don't expect to be available for too long. The agent is inviting offers over £230,000, which is a realistic price for a decent sized house with double glazing, gas central heating and a garage. A similar property sold for £235,000 around a year ago, so a canny buyer could do well on this one. The seller won't have done too badly either; with a 39% increase since paying £165,000 in December 2003 showing the area has scope for further capital growth.
With a lick of paint and a new bathroom (check out the link to see its current yellow suite, complete with black mould on the ceiling) it should achieve around £925pcm, which would provide a 4.8% yield based on paying the £230,000 guide price.
It is on the market with Cubitt & West 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.
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