BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £250,000, 6.7% yield

Summary: 3 bed house in Chichester Listed for sale on 25/01/16 @ £270,000 Now = £250,000 Rent = £1,400pcm Yield = 6.7%

This is amongst the cheapest three bed houses currently available to buy in Chichester, which should be a good place to start in regards to seeking out a decent investment. It's been on the market for six months now, in which time it has been reduced from £270,000 to £250,000. One reason it could be struggling is its tiny garden, which is not in keeping with what is a good sized family home. I would also be looking to spend a fair bit of money refurbishing what is a tired looking property. For the right investor though, the numbers look good. It is currently let to students, for an eye-watering £1,400pcm, which would provide a 6.7% yield based on paying the full asking price. This is quite an uplift in the rent that I would expect from renting it as a family home (about £995pcm once refurbished, providing a 4.8% yield). It is on the market with King and Chasemore and full details can be found on Rightmove via the following link: http://www.rightmove.co.uk/property-for-sale/property-39401790.html ___________________________________ 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. Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles: Follow The Buy-To-Let Property Investment Market in Chichester Chichester Property Market LinkedIn Page for Clive Janes CRJ Letting Agents Chichester Facebook Page CRJ Letting Agents Chichester Twitter Page Chichester Investment Property Management Specialist CRJ Letting Agents Website c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP __________________________________