Monday, 19 October 2020

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £315,000, 4.4% yield

Summary:
3 bed house in Chichester
Listed for sale on 13/10/20 @ £315,000
Rent = £1,150pcm
Yield = 4.4%

I have quite often ventured to Graylingwell Park when searching for a buy-to-let deal of the week. This is especially true specifically of Lloyd Road, which was the first phase of the development. Personally I find it the nicest part of the development, as it is a little more open in design than the later phases, which have become more typical of a new-build estate. Then again I may be biased having lived in Lloyd Road for six years and still owning a house on the street!

There is a variety of three-bedroom houses in Lloyd Road and, admittedly, this is the smallest of the different types (although not by much). As such the rental figure, estimated at £1,150pcm, is a little lower than others you might see on the street. Then again, at £315,000, the sales price compared to other three bed houses on the street currently for sale (priced at £330,000, £350,000, £365,000 and £395,000 respectively) is lower too! This would equate to a decent 4.4% rental return from a modern freehold house in good condition.

In fact, it's in very good condition. There should be little money that is needed to be spent on getting it ready to rent and it's age (built circa 2010) means it benefits from the modern features many tenants now expect.

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



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