Summary:
3-4 bed house in Chichester
Listed for sale on 05/10/18 @ £335,000
Now = £289,950
Rent = £1,200pcm
Yield = 5.0%
Last sold for £247,500 in 2008 (+17% in 10 years)
3-4 bed house in Chichester
Listed for sale on 05/10/18 @ £335,000
Now = £289,950
Rent = £1,200pcm
Yield = 5.0%
Last sold for £247,500 in 2008 (+17% in 10 years)
It was listed in October for £335,000 and yet just two month's later has been reduced by 13% to its current asking price of £289,950. That's just 17% higher than when it was bought 10 years ago, yet it's in seemingly good condition. It's been listed as a three bedroom house, and yet the garage has been converted into another room - which could easily be classified as a fourth bedroom (and usually is as quite a few in this area have done the same).
With a modern kitchen and bathroom, additional cloakroom downstairs and a good-sized lounge with a conservatory, plus three double bedrooms and a reasonable single, you're getting a lot of square footage for your money. Potential tenants would feel the same, and £1,200pcm is therefore a realistic asking rent (the average for a true four-bed house is £1,600pcm). It means this freehold house could provide an excellent 5% rental return.
The property is on the market with Sims Williams and full details can be found on Rightmove via the following link:
https://www.rightmove.co.uk/property-for-sale/property-57040650.html
If you are looking for an agent that is well-established, professional 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 clive@crjlettings.co.uk 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:
E-mail me on clive@crjlettings.co.uk 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
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