Monday, 6 August 2018

BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Tangmere, £230,000, 4.6% yield

2 bed house, Tamar Way, Tangmere, Chichesterkitchenlounge

2 bed house in Tangmere
Listed for sale on 06/07/18 @ £230,000
Rent = £875pcm
Yield = 4.6%

Last sold for £210,000 in 2017 (+9.5% in 1 year)

This two-bedroom house in Tangmere would make a great local buy-to-let investment. It's in good condition, with gas central heating and double glazing, and needs little to no work to be ready for tenants.

Long-term readers might be bored of me highlighting properties in Tangmere but you do get great value for your money considering it's only a couple of miles from Chichester and right on the A27. The plans for 1,000 new homes (not including the couple of new estates already being built) will only add to the infrastructure and amenities of the village.

Plus, they rent well - I recently marketed a two-bedroom house in Tangmere on a Saturday, had four viewings on the Monday and three applications on the Tuesday! That one went for £850pcm and although this one has a smaller second bedroom, it has a garage and a downstairs cloakroom, which I think means £875pcm in total is a reasonable rent to achieve. That would provide a 4.6% yield based on paying the full £230,000 asking price.

And for many years I've been saying two-bedroom houses in Tangmere offer great potential for capital growth. You used to be able to buy them for £180,000 a few years ago; this one sold for £210,000 just last year, meaning someone has made a £20,000 / 9.5% gross profit in 12 months (if it sells, which I've little doubt it will).

So this should prove easy to rent out, with little to do in the short-term. It'll provide a decent rental return whilst also offering the potential for further capital growth in the future.

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

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