Summary:
2 bed house in Chichester Listed for sale on 17/03/20 @ £239,950 Rent = £950pcm Yield = 4.8% Last sold for £203,000 in 2014 (+18% in 6 years)
This good-sized two-bedroom property is in an area of Chichester with a lot of student lets, being relatively close to Chichester's university. Both bedrooms are large doubles, which helps with its desirability and many of these houses use the downstairs dining room as a third bedroom.
It doesn't have to be let to students though to provide a very good return. A similar property is on at £995pcm, but I've scaled this back slightly to a suggestion of £950pcm as this one is in need of some decorative improvements and doesn't come with gas central heating. Even so, with an asking price of £239,950, that conservative rental figure would provide a very decent 4.8% return. It would be well worth installing gas central heating rather than having the electric storage heaters in my opinion, both from a desirability point of view and an environmental one (the EPC is currently an E, so is legal...for now). At £239,950 it seems reasonably priced for such a well-proportioned house in Chichester. The current owner bought it for £203,000 six years ago, so has seen a decent 18% increase in that time. The property is on the market with Bell & Blake and full details can be found on Rightmove via the following link: https://www.rightmove.co.uk/property-for-sale/property-83709449.html |
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