EYES ON…..THIS WEEKS INVESTMENT PROPERTIES IN NEWARK!!!

Standard

Here’s a look at the latest properties coming to market in Newark. I’ve added some comments and given you an idea of what you can expect rent wise if you go for it, lets see what you think…

Address: 1a Albert Avenue, Balderton, Newark, NG24 4HE
Asking Price: £150,000
Property Type: 2 Bedroom Semi-Detached House
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £545-595pcm
Yield: 4.76%
Comments: Bought in Sept 18 for £145k, this property hasn’t changed and has been for sale since August, they’ve just changed agents. Lovely looking house but you just don’t get a lot of space for your money.

Address: 70 Lime Grove, Newark NG24 4AH
Asking Price: £150,000
Property Type: 3 Bedroom Terraced House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.2%
Comments: This was my POTW two weeks ago when it went on with Winkworth, i’m guessing it’s changed as Winkworth Newark has closed (although they advertised it better!). Scroll down to see my previous property comments.

Address: 59 Clarks Lane, Newark NG24 2EF
Asking Price: £144,950
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.38%
Comments: Purchased in 2016 for £99,692, it’s been carpeted and decorated throughout and the white bathroom suit is new. Kitchen, sadly, is the original..it’s blue! Located at the end of Strawberry Hall Lane so the location is a bit marmite-y.

Address: 11 Clayton Close, Newark NG24 4HN
Asking Price: £140,000
Property Type: 2 Bedroom Semi – Detached House
Estate Agent: Newton & Fallowell
Condition: A little dated
Rent Range: £550-600pcm (once updated)
Yield: 5.14%
Comments: Bungalow’s are rare and often desirable rentals. This one is a little dated, particularly the decor and the bathroom is looking older than the kitchen although both would benefit from a re-fit. Check out the EPC before committing.

Address: 10 Thoresby Avenue, Newark NG24 4DJ
Asking Price: £140,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.36%
Comments: This house has had a major refurb since it was bought in Aug 13 for £99k. No EPC and no mention of a recent boiler fitment so worth checking those first, EPC needs to be E and above!

Buttercross Best Buy
Address: 85 Lime Grove, Newark NG24 4AQ
Asking Price: £130,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Newton Fallowell
Condition: Odd jobs required
Rent Range: £600-650pcm (once odd jobs done)
Yield: 6% (exc renovation costs)
Comments: Good potential, the bathroom and kitchen need a good clean (i’d change the bathroom if poss). I’d check if the leak if the roof is new or old too – paint the ceiling if old (don’t forget the stain block!). Bedroom carpet is looking thin. Oven isn’t looking great, it will need to be checked each year as it’s gas, if it’s on the way out, i’d get the gas capped and swap to electric.

Address: 7 Carlton Road, Newark, NG24 4HD
Asking Price: £130,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.53%
Comments: A fairly vanilla house, bathroom needs finishing off but that’s it really. I’d recommend changing the decor to something more neutral to help let the property however, i’d be inclined to leave it be for this house as i’m not sure you’d see the return unless you do the decorating yourself.

So that’s this weeks selection, there’s been an increase of ex council properties of late, at least a couple a week. 85 Lime Grove would be a good one to make some money on in the long run, especially if you can do the simple jobs yourself. Albert Avenue is another great property, i was torn and nearly pushed the value higher but i can’t be sure as it’s quirky! Struggling to give you a property of the week though from these, i’d pick Lime Grove fixer upper. Feel free to give me a call on 01636 343014 or even pop in to the office for a chat to let me know what you think :).

twitterFacebooklinkedinmail

EYES ON….THIS WEEKS INVESTMENT PROPERTIES IN NEWARK!!!

Standard

Here’s a look at the latest properties coming to market in Newark. I’ve added some comments and given you an idea of what you can expect rent wise if you go for it, lets see what you think…

Address: 26 Clarks Lane, Newark NG24 2EF
Asking Price: £150,000
Property Type: 3 Bedroom Semi-Detached House
Estate Agent: Whitegates
Condition: Ready to Rent
Rent Range: £625-675pcm
Yield: 5.4%
Comments: Well presented semi with a recent garage conversion (now an office), #32 sold in April for £145k that had a conversion to an additional reception room, i’d advise the same. Just check that EPC before committing.

Address: Penthouse, The Courtyard, Castle Brewery, Newark, NG24 4AF
Asking Price: £120,000
Property Type: 1 Bed Penthouse Apartment
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Service Charge: £1184 PA (paid 6 monthly)
Ground Rent: £125 PA
Yield: 5.44% (inc SC and GR)
Comments: Lovely unique apartment in a popular development, single parking space can but potential tenants off. These apartments often make great rental properties but are hard to shift when you want to sell them.

Address: 14 Alexander Avenue, Newark. NG24 2BD
Asking Price: £135,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.56%
Comments: #2 sold in Nov 18 for £140k in a tired state so this seems pretty cheap. I’d lose the red wall and add a carpet to bed 1, unsure of bed 3. Check the boiler age, may have to factor a replacement in.

Address: 19 Stoke Avenue, Newark. NG24 4PH
Asking Price: £130,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: Edlin & Jarvis
Condition: Some work required
Rent Range: £575-625pcm (once updated)
Yield: 5.76% (exc update costs)
Comments: Needs a bit of work, carpets need fitting and update some of those colours on the walls…including the green door! Looks like the master bed carpet needs a good clean or replacing. Update the lighting fixtures if you can, small things make a big difference.

Address: 52 Wolfit Avenue, Balderton, NG24 3PH
Asking Price: Offers in Excess of £140,000
Property Type: 3 Bed Semi Detached
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.57%
Comments: Very well presented, current vendors have clearly spent a lot of time and money after they bought it in Sept 2016 in a very tired state. #48 sold Dec 18 for £137,500 in a much lesser condition than this property currently.

Buttercross Best Buy
Address: 10 Blackberry Lane, Fernwood, Newark, NG24 3UN
Asking Price: £137,950
Property Type: 2 Bed Mid Terrace
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.22%
Comments: Another very well presented house, all built in appliances and they’ve utilised both sides of the kitchen. #6 sold in Dec 18 for £131k in good condition, just less wow.

Address: 39 King Street, Newark, NG24 4UQ
Asking Price: £105,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Now Homes
Condition: Updated Required
Rent Range: £475-525pcm (once updated)
Yield: 6% (exc update costs)
Comments: Plenty of potential, we let #41 earlier this year in no time after a renovation throughout. The bathroom needs a decent extractor fan (see mould on ceiling!) and updating in general, ditch the kitchen floor, random wrong colour storage unit and add an extractor in there too. #34 sold for £95k in March.

twitterFacebooklinkedinmail

EYES ON….THIS WEEKS INVESTMENTS IN NEWARK!!!

Standard

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.

twitterFacebooklinkedinmail