Eyes On… This Weeks Investment Properties In Newark

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Here is this weeks round up of new properties for sale in NG24, up to a value of £150,000.

As ever, here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 2 Stafford Avenue, Balderton, NG24 3DP
Asking Price: £129,950
Estate Agent: Winkworth
Condition: Ready to rent
Rent Range: £575-625pcm
Yield: 5.77%
Comments: After making this property of the week back in August, it’s great to see it’s been renovated very well. Loving the disco lights for the kitchen. Number 6 sold in January 2017 for £124,000.

Address: Linden Avenue, Newark, NG24 3AT
Asking Price: £90,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £425-450pcm
Yield: 6%
Comments: Well kept and comes with a garage and garden. Also comes with a lease less than 70 years which means it will not be mortgageable and you’ll have problems selling it in future. This needs to be sorted before buying or you’re taking a huge risk.

Address: John Gold Avenue, Newark, NG24 1RU
Asking Price: £90,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £500-525pcm
Yield: 7%
Comments: Another two bed apartment from Jon Brambles but this time with an acceptable lease length.

Address: 8, Oliver Close, Newark, NG24 1RS
Asking Price: £117,000
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.64%
Comments: Recently renovated, ready to be tenanted and a great first time investment, number 7 sold in July 2017 for £112,000.

Address: 18 Beacon Hill Road, Newark, NG24 1NU
Asking Price: £142,950
Estate Agent: Haart
Condition: Refurbishment Required
Rent Range: £600-650pcm (after refurb)
Yield: 5.46%
Comments: Get your sleeves rolled up and get the paint out! Just dull down those bright colours, change those crazy carpets and sort out a swanky new kitchen…sorted!

Address: Mill Gate, Newark, NG24 4TR
Asking Price: £85,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £400-450pcm
Yield: 6.35%
Comments: Great, centrally located refurbished apartment with a bonus integrated garage. Service Charges and Ground Rent tbc, 67 year lease with the option to extend.

Address: Clumber Avenue, Newark, NG24 4DT
Asking Price: £132,950
Estate Agent: Haart
Condition: Light work required
Rent Range: £575-625pcm (after work)
Yield: 5.64%
Comments: Lots of space and only a small amount of work needed, tiles and kitchen units could do with an update and maybe dial down the really bright colours but you’ll need to get it above an ‘F’ before you can let it.

Address: Cromwell Road, Newark, NG24 1RP
Asking Price: £107,000
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £450-500pcm
Yield: 5.61%
Comments: Aside from the sketchy photo quality, the property is ready to go, a 2 bed just 2 streets away sold in Oct 2017 for £96,000 in similar condition.

Address: Kings Road, Newark, NG24 1HB
Asking Price: £85,000
Estate Agent: Richard Watkinson
Condition: Update Required
Rent Range: £400-450pcm (once refurbed)
Yield: 6.35%
Comments: Get some new carpets in and a fresh coat of paint throughout, lose the dated kitchen and curtains and you’ll be well on your way to a desirable rental property.

If you’ve seen a property in Newark or Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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