Monday 2 July 2018

BUY-TO-LET DEAL OF THE WEEK: 3 bedroom house in Tangmere, £280,000, 4.9% yield

3 bed house, Windmill Drive, Tangmere, Chichester kitchen lounge
3 bedroom house in Tangmere
Listed for sale on 05/06/18 @ £290,000
Now = £280,000
Rent = £1,150pcm
Yield = 4.9%

Last sold for £250,000 in 2010 (+12% in 8 years)

This three-bedroom townhouse in Tangmere could be an excellent prospect as a buy-to-let investment. A modern house with nothing required prior to letting but a little decorating makes it a simple investment for the more hands-off landlord. This is also among the larger townhouses within this development, yet as I wrote a couple of years ago (Which townhouse in Tangmere is the best buy?) this doesn't always get reflected in the asking price.

And that asking price of £280,000 (recently reduced from £290,000) is, to me, something of a bargain. 1,136 square feet of modern floorspace for that price is excellent value for money. The fact it should rent for around £1,150pcm will provide a generous 4.9% rental return - which is good for single-lets within Chichester and the surrounding areas, especially when you consider this is a freehold property in excellent condition.

It last sold for £250,000 in 2010 - so it's current asking price is just 12% more than was paid eight years ago, whereas Chichester as a whole has seen house prices increase an average of 47% in that time!

When you consider what else is available in Tangmere, this is up there amongst the cheapest three-bedroom houses. Smaller new-build townhouses are up for £334,000, so the more I look at this property and research deeper, the more it looks like a truly excellent buy.

The property is on the market with Purple Bricks 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

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