Monday, 12 November 2018

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £300,000, 4.4% yield

3 bed house, Little Breach, Chichester
3 bed house in Chichester
Listed for sale on 19/10/18 @ £300,000
Rent = £1,100pcm
Yield = 4.4%

Last sold in 1995 for £70,000 (+329% in 23 years)

There are currently quite a few three-bed houses for sale around this (fairly reasonable for Chichester) £300,000 price point. This could be amongst the best of them due to it's location and size. Popular amongst homeowners and tenants alike due to its close proximity to Chichester's city centre and yet the layout of the street still retains a sense of 'homeliness' along with the properties generous plots, off-road parking and garages.

The fundamentals are there - double glazing (to most doors and windows - something to check), gas central heating and a very nice kitchen. The shower room could do with replacing to a bathroom ideally, so as to appeal to families, and overall a change to some carpets and décor will help freshen it up. With these small improvements there'll be a very nice family home up for grabs. I'd expect it to rent for at least £1,100pcm, which would provide a decent 4.4% yield based on that £300,000 asking price. It might even get a smidge more when you factor in the garage.

It's clear from a few of the photos that it's been in the same ownership for some time. The sales data backs this up - it was last sold in 1995 for the princely sum of £70,000. That means it's more than quadrupled in price since John Major was Prime Minister and Tony Blair was promising that things "could only get better" (read as 'more expensive'!)

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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