Monday 24 September 2018

BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Tangmere, £220,000, 4.8% yield

2 bed house, Tamar Way, Tangmere, Chichesterkitchenlounge
2 bed house in Tangmere
Listed for sale on 06/07/18 @ £240,000
Now = £220,000
Rent = £875pcm
Yield = 4.8%

Last sold for £210,000 in 2017 (+5% in 1 year)
This two-bedroom house in Tangmere was only sold last February (for £210,000). Since then it's had a bit of a refresh to the décor, garden and kitchen and is now in good overall condition. It's odd therefore that less than 18 months later it has been put up for sale again, originally for £240,000. That wasn't too unrealistic a price for a two-bedroom house in Tangmere with a downstairs cloakroom (they don't all have that) and a garage. And yet a couple of months later it's now priced at £220,000, which I feel is a very decent price indeed.

It already has double glazing and gas central heating and is in a ready to rent condition. I believe this house would fetch £875pcm with the garage, which would provide you with a decent 4.8% rental yield from that current asking price of £220,000. Considering there's a new-build two-bed house in Tangmere priced at £290,000, this seems a substantial discount compared to newer stock, whilst providing good sized accommodation, in a good condition and at a good price.

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

If you 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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