New to the market in Chichester this week is a three bedroom house in Lewis Road, close to the centre of Chichester. It has the fundamentals in place; double glazing and gas central heating (although I couldn't spot any radiators in their traditional place under the windows), but the house does require some modernisation. It doesn't look too bad from the pictures though; definitely a new bathroom is required but then it needs an inspection to decide whether the kitchen should be replaced along with any flooring and decoration.
It is a good size three bedroom semi-detached house, with two double bedrooms and a smaller single room. The bathroom is upstairs, which isn't always the case with the houses nearby and there is still a cloakroom off the kitchen/utility area.
An asking price of £265,000 is reasonable compared to what else is on the market and what the most recent properties sold on the street for (£269,950 & £275,000). Whilst there's no previous sold data for this specific property, there are signs of decent capital growth potential with similar houses on the street having sold for around £200,000 in 2010 & 2012 whilst reaching around £245,000 just before the credit crunch (can you believe the Northern Rock debacle happened over 9 years ago!)
It's decent location, good sized rooms and plentiful on-road (permit) parking should see it achieve around £995pcm in rent, which would equate to a 4.5% yield based on paying the full asking price of £265,000 (but not factoring in refurbishment costs).
It is on the market with Sims Williams and full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-44999175.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.
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
__________________________________
| 
No comments:
Post a Comment