Monday, 21 May 2018

BUY-TO-LET DEAL OF THE WEEK: 2 bedroom house in Chichester, £240,000, 4.6% yield

2 Bed house, St. James Square, Chichester, PO19kitchenlounge
2 bedroom house in Chichester
Listed for sale on 10/05/18 @ £240,000
Rent = £925pcm
Yield = 4.6%

Last sold for £181,000 in 2013 (+33% in 5 years)

Looking at the cheapest freehold house currently available to buy in Chichester is often a good place for me to start in regards to choosing my buy-to-let deal of the week. This two-bedroom house is in very decent condition considering it has that honour; and priced at £240,000 it comes in below the two most recent sales of near-identical houses in the same street (£245,000 and £252,500 respectively).

It's own sales history is rather an odd one, having been sold four times in the past 12 years! Most recently it was sold in 2013 for £181,000, meaning the current owner is looking to bag a 33% return in five years. The owners before that didn't fair as well, with the property having sold for £178,000 in 2012, £181,000 in 2007 and £165,000 in 2006.

With nearly 800 square feet of space it is a very good sized house, complete with two double bedrooms, a kitchen/diner, separate lounge and a conservatory. There's also pleasant gardens to the front and rear and the house has off road parking, gas central heating and double glazing. It's also in very good condition with a modern bathroom and kitchen as well as a neutral décor throughout - so it will be ready to start renting from day one.

I'd expect it to do so for £925pcm, which would result in a very decent 4.6% rental return. All in all this looks to be an excellent value house whatever way you look at it and I'd expect it to sell pretty quickly.

The property is on the market with Purplebricks and full details can be found on Rightmove via the following link:

If your 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

Chichester rental valuation

No comments:

Post a Comment