Monday, 22 July 2019

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £275,000, 4.4% yield

3 bed house, Adelaide Road, Chichester

3 bed house in Chichester
Listed for sale on 09/07/19 @ £275,000
Rent = £1,000pcm
Yield = 4.4%
Last sold for £249,000 in 2014 (+10% in 5 years)

This three-bedroom house is centrally located in Chichester and offers a sensible, no-thrills approach to buy-to-let. Of ex-council stock, the houses here are typically solidly built and this one appears to be in good condition. It has double glazing and gas central heating, a modern enough kitchen and bathroom, plus an extra cloakroom downstairs. The bedrooms are reasonable sizes - two (smallish) doubles and a single - and you get a large garden too.

For £275,000 this represents an entry-level price as far as three-bed houses in Chichester are concerned and would likely rent for £1,000pcm. This would equate to a decent rental return of 4.4% for a well-located freehold property that appears to need little, if any, money spent on it to make it of a rentable standard. It would likely attract young families who wish to be close to the city centre or hospital.

A good way to check a property is fairly priced before you buy is to look at its previous selling price. In this case it was last sold for £249,000 in 2014 (remember when stamp duty jumped up at £250,000 based on the old 'slab system'), which means it's just 10% higher now than it was 5 years ago. Property prices in Chichester as a whole have increased on average by 26% in that time, meaning this stacks up as a reasonably priced house.

The property is on the market with Kenton Budd 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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