Monday, 28 October 2019

BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Fishbourne, £260,000, 4.4% yield

2 bed house, Senator Gardens, Fishbourne
kitchenlounge

Summary:
2 bed house in Fishbourne
Listed for sale on 07/10/19 @ £260,000
Rent = £950pcm
Yield = 4.4%

Last sold for £127,500 in 2002 (+104% in 17 years)

This two-bedroom house in Fishbourne was built in the 1990's, meaning it's of a modern construction but may need some tlc either now or in the near future. It's actually in good decorative order and the bathroom and kitchen seem to have stood the test of time. It also has double glazing and gas central heating, so it has many of the 'new-build' amenities but without the premium price tag. It's on a decent sized plot with a nice garden and two allocated parking spaces.

Priced at £260,000 puts it at a similar price as you'll often see slightly older (and smaller) properties on Mosse Gardens around the corner. So to get a slightly more modern, spacious house in a quieter cul-de-sac appears to make this good value. It's also on the road next to the newest development in Fishbourne, where two-bed houses of a similar size would go for closer to £300,000 - so it looks decent value for the long-term too.

It should appeal to young professionals, whilst the two double bedrooms opens up the possibility of it being a couple, with or without a young child, or two sharers who would rent the house. I believe it would rent for £950pcm, which is decent value for the tenants too when considering the availability of two-bed houses in Chichester (there are none currently available in Fishbourne). This would provide a decent 4.4% rental return from that £260,000 asking price, whilst the current owner looks set to double their money since they bought the house for £127,500 17 years ago.

The property is on the market with Henry Adams and full details can be found on Rightmove via the following link:
https://www.rightmove.co.uk/property-for-sale/property-85439948.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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