Monday 8 October 2018

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Tangmere, £270,000, 4.7% yield

3 bed house in Tangmere
Listed for sale on 06/09/18 @ £285,000
Now = £270,000
Rent = £1,050pcm
Yield = 4.7%

Last sold for £210,000 in 2016 (+29% in 2 years)

This three-bedroom house in Tangmere looked rather familiar; in a Chichester Property News first a property has been listed twice as my buy-to-let deal of the week!

Back in August 2015 I mentioned the house as a buy-to-let deal when it was for sale for £235,000. It was then reduced to £220,000 and went on to sell for £210,000 in early 2016. That was a bargain and, after some refurbishment and just a couple of years later, the current owner is now asking for £270,000 (although they too have had to reduce the price, having originally listed it for £285,000 last month).

Even though the price has risen, this still offers good value in today's market, particularly given its now excellent condition. It appears to have had new doors, windows, flooring, kitchen (or is it just the fronts?), bathroom and re-decoration since it was last marketed. Phew! It means you can now buy a completely remodelled home and one that will appeal to tenants as a result.

I'd expect it to rent for £1,050pcm given its good condition, size and benefitting from a garage and driveway. That would result in a 4.7% yield based on paying the current full asking price of £270,000.

The property is on the market with Cubitt & West 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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