Summary:
3 bed house in Chichester Listed for sale on 16/09/19 @ £280,000 Now = £266,000 Rent = £1,000pcm Yield = 4.5% Last sold for £208,000 in 2008 (+28% in 11 years)
Reduced by 5% this week from its original asking price of £280,000 is this three-bedroom house in Chichester. It's been on for about 10 weeks and has now been reduced to a very reasonable £266,000. That puts it amongst the cheapest three-bedroom houses in Chichester, so it's definitely worth a closer look.
It's located around a mile east of the city centre and is nearby to both primary and secondary schools. It's very much a house aimed at families, with a fairly standard layout including two double bedrooms and a single. It's in decent condition but could do with a few new carpets and a modernisation throughout. This could be easily done to the white suite bathroom by changing the wooden panels, whereas the kitchen might warrant a replacement. If this was done it presents a good opportunity to move the wall between the lounge and kitchen so as to create a spacious kitchen/diner and a fair sized lounge, rather than the current large lounge and compromised kitchen layout. With the basic updating it should still rent for £1,000pcm, which would mean a 4.5% return based on the full asking price. If the kitchen was replaced and expanded it might warrant a little more than this and would certainly help in making it a sought after property (as well as increasing the property's value). It last sold for £208,000 in 2008, so has risen in value by 28% in 11 years. The property is on the market with Cubitt & West and full details can be found on Rightmove via the following link: https://www.rightmove.co.uk/property-for-sale/property-84806948.html |
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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:
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