Eyes On… This Weeks Investments 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.

Buttercross Best Buy
Address: 70 Milner Street, Newark, NG24 4AA
Asking Price: £135,000
Estate Agent: Winkworth
Condition: Complete Refurbishment Required.
Rent Range: £600-650pcm (Once refurbished)
Yield: 5.77%
Comments: Complete overhaul required, I know retro is in at the moment but I’m not convinced! There’s no photo of the bathroom but judging the rest of the house I think it’s safe to say it will be bad. Most expensive terrace on the street fetched £158,500 in June this year (Number 8).

Address: Goldstraw Lane, Fernwood, NG24 3FF
Asking Price: £114,950
Service/Maintenance Charge: approx £1,317.12 PA
Ground Rent: £125 PA
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 6.18% (inc GR and Serv Charge)
Comments: Modern, low maintenance property making it ideal for a first time investor, 3 bed apartments aren’t overly common on the rental market so desirability is difficult to judge. The owners have cleverly used one of the bedrooms as a dining room to make extra living space, certainly worth advising tenants.

Address: 24 Birch Road, New Balderton, NG24 3DB
Asking Price: £135,000
Estate Agent: Newton Fallowell
Condition: Light Refurbishment Required.
Rent Range: £575-625pcm
Yield: 5.55%
Comments: Good area for families and couples, close to the A1 and outstanding schools. Price is fair for the work required, that kitchen has got to go, the gardens need some tlc and the master needs a carpet..also I’m not sure anyone has ever said “nice mismatch conservatory tiles”…

Address: 77 Philip Road, Newark, NG24 4PE
Asking Price: £89,950
Estate Agent: Newton Fallowell
Condition: Cosmetic Work Required.
Rent Range: £500-525pcm
Yield: 7.00%
Comments: Kitchen is good and it just needs a lick of paint and the curtains getting rid of. Maybe a new bathroom? 86 Grange Road sold for £87,000 in June this year.

Address: 63 London Road, Balderton, NG24 3AG
Asking Price: £110,000
Estate Agent: Edlin & Jarvis
Condition: New Fences Required
Rent Range: £525-£575pcm
Yield: 6.27%
Comments: Typical 2 bed terrace. Not the biggest but will be fine to rent. Number 71 sold for £114,950 last December but was much bigger upstairs and in better condition.

Address: Apartment 2, Dobsons Quay, Newark, NG24 1EU
Asking Price: £89,950
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £475-525pcm
Yield: 5.59% (Allowing for service charge)
Comments: Looks a well styled flat in a good location. Not the biggest place but OK for a single person or couple. Value has increased by 34% since 2003.

Address: 10 Apple Avenue, Fernwood, Newark, NG24 3US
Asking Price: £86,000
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £400-425pcm
Yield: 5.93%
Comments: Cosy 1 bed quarter house complete with oil stain on the parking space. Just check on service charges as this will affect your yield.

Address: Coleman Avenue, Balderton, NG24 3DR
Asking Price: £126,950
Estate Agent: Haart
Condition: Cosmetic Work Required
Rent Range: £575-625pcm
Yield: 5.91%
Comments: There’s a lot going on in this house so hard to really tell but it certainly needs decorating throughout. Bathroom looks dated but kitchen seems OK. Last two terraced sales on the street were for £103,000 and £97,000 over 2 years ago.

Address: Whitfield Street, Newark, NG24 1QX
Asking Price: £125,000
Estate Agent: Haart
Condition: Needs Renovation
Rent Range: £625-675pcm (after renovation)
Yield: 6.48%
Comments: Another ambitious price from Haart considering number 51 sold for £124,000 in excellent condition 12 months ago. Looks like it needs a skip or ten…

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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