Monday 8 August 2016

BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Chichester, £215,000, 4.5% yield

chichester house in oving road
oving road kitchen
oving road lounge

2 bed house in Chichester
Listed for sale on 29/07/16 @ £215,000
Rent = £800pcm
Yield = 4.5%
Last sold for £176,000 in August 2006 (+22% in 10 years)
Here's another two-bed house in Chichester, which is particularly keenly priced. In fact, it's the cheapest freehold property in the whole of Chichester. And yet it's in good condition, is of a modern build and already has the potentially costly to install double glazing and gas central heating.

It also comes with a sitting tenant, currently paying £800pcm. This means it would be earning an income from day 1 (assuming the tenants are paying their rent - get evidence of this!) and providing a return of 4.5% based on paying the full asking price. This isn't a bad return, but the property should easily be achieving £850pcm, which would result in a more representative return from the property of 4.7%.

Not only does it offer decent value compared to other properties in the area, but it has 'only' increased 22% since it was last sold in August 2006 for £176,000. This is below the average 34.7% increase witnessed across Chichester; so you'll have to decide if that's because this house doesn't increase as much as the average property in Chichester, or because it's priced lower than it should be.

It is on the market with Bell & Blake and full details can be found on Rightmove via the following link:


If you are looking for an agent that is well-establishedprofessional 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 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:

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP

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