BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Tangmere, £200,000, 5.0% yield
Summary: 2 bed house in Tangmere Listed for sale on 09/08/16 @ £200,000 Rent = £825pcm Yield = 5.0% Last sold for £172,000 in March 2012 (+16% in 4.5 years)
This is a lovely two bedroom house that is ready to rent out straight away with a neutral decor and a modern kitchen and bathroom. It also has (the almost obligatory nowadays) double glazing and gas central heating.
It is located in Tangmere, which is an area I have highlighted for some time as offering good value for money, yet is growing in popularity due to its proximity to both the A27 and Chichester. There is also quite a lot of new housing being built in Tangmere, whereby two bedroom houses start at £255,000; so the older stock like this increasingly looks like decent value.
It's not the biggest of houses (even with a ropey lean-to added on to the rear), so a conservative rental figure of £825pcm should see it rent quickly for those wondering whether they could pay just a little more to get two double bedrooms elsewhere.
Tangmere is indeed proving itself to have been a shrewd area to invest in, as this property has increased by 16% in the 4.5 years since the vendors paid £172,000 for it and rents in the area have been steadily increasing in the past couple of years (when a similar property would have rented for around £775pcm).
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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