Monday, 22 March 2021

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Fishbourne, £290,000, 4.8% yield

Summary:
3 bed house in Fishbourne
Listed for sale on 17/03/21 @ £290,000
Rent = £1,150pcm
Yield = 4.8%
Last sold for £227,000 in 2014 (+28% in 7 years)


This house in Fishbourne is presented in nice condition and benefits from three double bedrooms, off-road parking and a private garden, making it an excellent proposition as a rental property.

It will be popular with a variety of tenants - be they sharers who won't have to argue over having a box room or more traditional tenant types for the area, such as young professionals or young families. Fishbourne is a quiet (but growing) village with a well-regarded primary school, pubs, village centre and good transport links, with easy access to the nearby A27 or Fishbourne's own train station.

Having just been listed at £290,000, a three-bedroom house in the area for that price is a good proposition. It last sold for £227,000 in 2014, so has seen decent growth of 28% in the past seven years. I'd expect it to rent for £1,150pcm given the severe lack of supply at the moment (there are only 4 three-bedroom houses in Chichester currently available to rent). That would equate to a decent 4.8% rental yield on what should be a relatively hassle-free and simple to let property.

The property is on the market with Bell & Blake and full details can be found on Rightmove via the following link: www.rightmove.co.uk/properties/104235404






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