Monday, 27 July 2020

BUY-TO-LET DEAL OF THE WEEK: 4 bed house in Chichester, £325,000, 4.8% yield




Summary:

4 bed house in Chichester
Listed for sale on 20/07/20 @ £325,000
Rent = £1,300pcm
Yield = 4.8%

This four-bedroom house near St Richard's Hospital in Chichester comes with bold marketing from the agent; calling it a 'bargain'. At £325,000 I'm not sure it's exactly that, but it's certainly decent value compared to other nearby properties.

That's especially true when you consider it is a good-sized house (spread over three floors) on a good-sized plot (considering it is relatively new, having been built circa 2007). It has a garage and driveway (which could take two cars if you, perhaps controversially, were to remove the tree out front) and well-proportioned rooms. 

It is in good condition, with neutral decor throughout and modern bathrooms and kitchen, meaning there would be virtually nothing to do before marketing the property for tenants. Whilst many of these houses have been let to students (which has had an effect on the street as a whole), it would suit a family. It should achieve £1,300pcm due its size, location and condition, which would be a useful 4.8% rental return from this relatively modern freehold property. 

The property is on the market with Zone and full details can be found on Rightmove via the following link: 
https://www.rightmove.co.uk/property-for-sale/property-66547257.html







Chichester rental valuation

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