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.

Here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor!

Address: Lilac Cottage, 21 Balderton Lane, Coddington, Newark, NG24 2QD
Asking Price: £150,000
Property Type: 2 Bed Semi-detached Cottage
Estate Agent: Alasdair Morrison
Condition: Unknown
Rent Range: £550-600pcm
Yield: 4.8%
Comments: Rent range is based on the property being in good condition throughout, the lack of photos makes things a little difficult! Coddington is a desirable area and character properties are often popular, only downside is the EPC rating at an E, it’s legal to rent but tenants don’t like paying over the odds on utilities.

Address: 6 Wood Street, Newark, NG24 1PN
Asking Price: £129,950
Property Type: 3 Bed Mid Terrace
Estate Agent: Richard Watkinson
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.31%
Comments: A stones throw from Barnby Road Academy and close to town centre with a lovely kitchen, this house is well presented but a little expensive. The last 3 bed sold in August 2017 for £112,000 with an open kitchen/diner although agreeable the kitchen isn’t as nice!

Address: 36 Cardinal Hinsley Close, Newark, NG24 4NQ
Asking Price: £125,000
Property Type: 2 Bed End of Terrace
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Low council tax band, reasonable epc rating and an affordable rental price, this property is ideal for a couple or small family and the investor doesn’t need to do any updating (at first glance anyway!). The last 2 bed was a mid terrace and sold for £115,000 in Feb this year however some rooms required new carpets or redecorating.

Buttercross Best Buy Ready to Rent
Address: 9 North Gate, Newark, NG24 1EX
Asking Price: £125,000
Property Type: 3 Bed End of Terrace
Estate Agent: Springbok Properties, Nationwide
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Very well presented property, especially the lovely kitchen/living room. These properties aren’t overly deep but they are tall with surprisingly spacious bedrooms, we manage number 11 next door which is in a similar condition for £600pcm; the only negative we found was the lack of parking everywhere but you can’t please everyone!

Buttercross Best Buy Fixer Upper
Address: 2 Belvoir Road, Balderton, Newark, NG24 3HQ
Asking Price: £120,000
Property Type: 3 Bed Semi-detached
Estate Agent: Newton Fallowell
Condition: Modernisation Required
Rent Range: £575-625pcm (once updated)
Yield: 5.88% (based on £7.5k spend)
Comments: Good one for those that want a fixer upper, this dated house with a fantastic garden needs new a kitchen and bathroom along with flooring and ideally redecorating; the magnolia could stay downstairs to reduce costs but the bedrooms could do with being a little more neutral. Barely anything sells on this street so it’s hard to judge the price?!

Address: 66 Cross Street, Newark, NG24 1NZ
Asking Price: £115,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Purple Bricks
Condition: Would benefit from some modernisation
Rent Range: £450-500pcm
Yield: 5.22%
Comments: This property could be let as it is and expect the current rent range or money could be spent on changing the kitchen and little things like changing the dated gas fire, loosing the dark wood throughout and the floral paper and potentially get £500-525pcm.

Address: 113 Balderton Gate, Newark, NG24 1RY
Asking Price: £115,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Alasdair Morrison
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 4.96%
Comments: Well presented cosy little house close to town centre, these houses are small but perfectly formed! This one is ready to go and would be ideal for a singleton or couple but for something so small, i’m not sure it’s priced right?

So would pick a #FixerUpper or #ReadyToRent? If any of these properties have caught your eye and you’d like to discuss it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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