Monday, 13 July 2020

BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Fishbourne, £249,950, 4.6% yield

2 bed house, Mosse Gardens, Fishbourne

2 bed house in Fishbourne
Listed for sale on 02/06/20 @ £254,950
Now = £249,950
Rent = £950pcm
Yield = 4.6%
Last sold for £240,000 in 2019 (+4% in 1 year)

It seemed appropriate to pick a potential buy-to-let property in Fishbourne, having written about the village in this week's main feature. This two-bedroom house is in Mosse Gardens, which I mentioned in the article was built in the 1980's & 90's.

The house is presented in fair order, but would benefit from some decor and flooring upgrades, whilst the kitchen would also benefit from a modern refit. The bathroom isn't photographed, which suggests it may be in need of replacement too (otherwise why hide it?). 

Interestingly, the house was only bought by the current owner last April (for £240,000) so I wonder what the story is there, as it now seemingly sits empty according to the photos and is available for sale at £249,950 (having recently been reduced from £254,950).

Regardless of the vendors' story, the headline is that Fishbourne is a popular spot for tenants. This two-bedroom house offers two good-sized bedrooms and a reasonable amount of space throughout. It is likely to rent for around £950pcm (once modernised a little), so as to provide a 4.6% rental return based on the asking price.

The property is on the market with Bell & Blake and full details can be found on Rightmove via the following link:

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