Monday, 29 April 2019

BUY-TO-LET DEAL OF THE WEEK: 4 bed house in Tangmere, £410,000, 4.4% yield

4 bed house, Blenheim at Bader Heights, Tangmere
kitchenlounge

Summary:
4 bed house in Tangmere
Listed for sale on 11/08/18 @ £450,000
Now = £410,000
Rent = £1,500pcm
Yield = 4.4%

This week's buy-to-let deal takes us back to the Bader Heights development in Tangmere, which has been a treasure trove in recent weeks for well-priced properties that will appeal to tenants.

For landlords who like investing in bigger properties, this four-bed detached house could fit the bill. Originally selling for £450,000 it has been reduced to just £410,000 in recent weeks, as the sales office looks to offload its last few homes on the site.

Not only does that mean you get a good amount of bricks for your money, but based on having let an identical property on the site in the past fortnight for £1,500pcm, it should also give a decent 4.4% rental yield. Considering this a brand-new property, complete with two-year warranty, it should provide a relatively hassle-free letting experience in the short-term.

In the long-term it should hold up well, based on similarly sized houses locally being sold for similar prices; meaning you're paying next to nothing extra for the privilege of a new-build. Along with four good-sized bedrooms (three doubles and a single) you get an en-suite shower room, large kitchen/diner that appeals to modern family living, separate lounge and study as well as a large driveway, garage and a decent rear garden.

I've written before about buying new-builds and being careful not to overpay to cover the developers profit. But at the same time I said it can be good business to get in early or late when it comes to a new development; with the developer wanting to move on from a site this good-sized home could be a great valued purchase for someone.

The property is on the market with Miller Homes and full details can be found on Rightmove via the following link:
https://www.rightmove.co.uk/property-for-sale/property-81028646.html


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 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



Chichester rental valuation

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