Summary:
3 bed house in Westhampnett Listed for sale on 01/07/19 @ £325,000 Rent = £1,300pcm Yield = 4.8% Last sold for £195,000 in 2001 (+67% in 18 years)
I featured an identical house to this three-bedder in Westhampnett a couple of months ago, albeit that one was an end-of-terrace. Nevertheless the accommodation this one provides is the same and better yet it's £25,000 cheaper! At £325,000 this is a lot of property you're getting in an area that is popular with tenants - particularly those working at Rolls Royce.
Spaced out over three floors means the bedroom sizes are all very good, which opens it up to families as well as sharers (likely to be colleagues at the aforementioned Rolls Royce). That price tag is the same as an identical house in the street sold for last June, showing prices have stalled over the past 12 months. For rental purposes though you could look at around £1,300pcm, which would provide a very decent 4.8% from a freehold property. Whilst it's 18 years old (in which time the value has increased by two-thirds) it appears to be in a good condition. This should mean there won't be much to do before having it ready to rent out to tenants. When you add together its location, size and condition, the price tag becomes even more appealing. Throwing the numbers into the mix and it seems like a very good long-term buy-to-let purchase to me. The property is on the market with Charles Peck and full details can be found on Rightmove via the following link: https://www.rightmove.co.uk/property-for-sale/property-82932413.html |
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