EYES ON…The Investment Property of the Week in Newark!!

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Here’s my investment property of the week in NG24 for less than £150,000

Address: 4 Wisdom Close, Fernwood, Newark, NG24 3WJ
Type: 3 Bed End of Terrace House
Asking Price: £140,000
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range:£600-650pcm
Yield: 5.57% yield

First listed back in March for £160,000, this modern 3 bed end of terrace house on the popular Fernwood establishment has struggled to get the asking price and has since been reduced twice, initially to £150,000 and now to £140,000; aside from taking the stickers off the second bedroom wall, the property is ready to go!

We recently let out a 3 bed semi detached house on Wisdom Close within a week for £675pcm that was purchased for £150,000 in March, it gained a lot of interest from couples and families due to the close proximity to the A1/A46 for commuters and both Fernwood play ground and Primary School are within walking distance from the property. So is £140,000 about right? Well both Number 4 and 5 have enough parking for 2 vehicles, 3 bedrooms and a spacious living/dining room but Number 4 has a smaller third bedroom and kitchen, doesn’t have an en-suite and is a terrace, sounds alright to me! Having said that, i don’t think that there’s anything else the current owners could have done to increase the value so i’d say this is better as a buy to let than a first time buy as the buy to let would make more money in the long run, the first time buyer may struggle to increase the value.

As Wisdom Close was only completed 3 years ago, there have only been 2 sales on the street, both of which were semi detached properties for £149,000 and £150,000 so i can see why this property didn’t sell at £160,000, why would you pay more for less house? Two reductions later this price seems fair and the previous interest we’ve had on 5 Wisdom Close would suggest that the property could be tenanted promptly too.

From an investors perspective this would be ideal for a first time investor or an established one, it doesn’t required any work and the rental market would suggest it’s a desirable area for tenants; after two reductions, it would seem it was valued optimistically at an initial glance, will you going to have a look to find out?

If you’re interested in this property 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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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.

Address: The Ivies, Newark, Nottinghamshire
Type: 2 Bed Semi-Detached
Asking Price: £135,000
Estate Agent: Alasdair Morrison
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.33
Comments: Rare opportunity for stunning 2 bed home with double rooms and lovely kitchen in a desirable area of Farndon, ideal for a commuting professional couple with the A46 close by; perfect ready to rent first time investment.

Address: 37 Emmendingen Avenue, Newark, NG24 2FX
Type: 4 Bed End of Terrace
Asking Price: £145,950
Estate Agent: Haart
Condition: Ready to Rent
Rent Range: £645-695pcm
Yield: 5.71
Comments: Last sold in 2012 for £112,000 in the exact same condition, although it’s more like a 3 bed and box room, the size and decor still makes it appealing to families and it’s ideally located between the A1/A46 and the town centre.

Address: Hazel Grove, Balderton, NG24 3BQ
Type: 2 Bed Semi-Detached
Asking Price: £125,000
Estate Agent: Jon Brambles
Condition: Some Modernisation Required
Rent Range: £550-600pcm (once renovated)
Yield: 5.76%
Comments: Located in the popular lakeside development, one for an investor that fancies a fixer upper, the cupboard doors need changing in the kitchen, the awful fitted wardrobes have to go and who knows what surprise lies in the bathroom!

Buttercross Best Buy
Address: 39 Apple Tree Close, Newark, NG24 2FA
Type: 2 Bed Second Floor Apartment
Asking Price: £87,000
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 7.24
Comments: A perfect first time investment, great yield, minimal maintenance and a reasonable asking price. Ideal for tenants working on the industrial estate, town centre and KnowHow with added bonus of allocated parking for those who commute.

Address: Grove Street, Balderton, Newark, NG24 3AS
Type: 3 Bed Mid-Terrace
Asking Price: £125,000
Estate Agent: Haart
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.25%
Comments: Good for schools and the A1 although the lack of parking may put tenants off; the last two 3 bedroom houses on Grove St sold for £110,000 and £112,000 in the same condition, why is this £125,000?

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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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.

Address: 9 Robins Court, Newark, Notts, NG24 1QG.
Type: 2 Bedroom Ground Floor Flat
Asking Price: £60,000
Estate Agent: Richard Watkinson
Condition: Needs Renovation
Rent Range: £450-500pcm (once renovated)
Yield: 10%
Comments: Fantastic opportunity if you don’t mind getting stuck in! A renovated first floor 1 bed in the same block let for £485 earlier this year and with such a central spot, it’s perfect for commuters that use the rail service or drive thanks to the private parking.

Address: 32 Appleton Gate, Newark, NG24 1LR.
Type: 2 Bedroom Mid-Terrace
Asking Price: £140,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 4.93%
Comments: Well presented property in a good commuter spot, ideal for a couple or small family and there would be no/little work required. 40a sold for £123,500 in Dec 2016, another mid-terrace but it was dated in comparison to this one, is it worth almost £17,000 more?

Address: 7 Ross Close, Coddington, Newark, Nottinghamshire, NG24 2PY.
Type: 3 Bedroom End of Terrace
Asking Price: £149,950
Estate Agent: Newton Fallowell
Condition: Some modernisation required
Rent Range: £575-625pcm
Yield: 5%
Comments: Desirable village location with an Ofsted Good Primary school and great connections to the A1, property is dated in parts, particularly the bathroom and the kitchen/dining area is a close second. Sort those parts out and potentially get £650pcm.

Buttercross Best Buy
Address: 25 Charles Street, Newark, NG24 1RN.
Type: 2 Bedroom Semi-detached
Asking Price: £135,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.11%
Comments: Neutral home with additional living space in the cellar within the catchment area for Barnby Road School, an immaculate 2 bed terrace sold for £136,000 in March 2016 and there’s not much to fault here so this price seems fair, right?

Address: 5 Wentworth Corner, Newark, NG24 4PS.
Type: 2 Bedroom Mid-Terrace
Asking Price: £110,000
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5.73%
Comments: On the outskirts of Hawtonville, this compact 2 bedroom house will be ideal for a working couple as a family may be a squeeze! No photo of the bathroom but the general condition would suggest little work will be required; number 2 sold in Feb 2016 for £95,000 but it was dated in comparison.

Address: 25 Wood Street, Newark, NG24 1PN
Type: 2 Bedroom Mid-Terrace
Asking Price: £117,500
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.87%
Comments: Beautifully presented home a short distance from town centre and Newark North Gate Station, i can’t find fault in the property although parking would be nice! All you need now is a tenant…

Address: 7 Oliver Close, Newark, NG24 1RS
Type: 2 Bed Semi-detached
Asking Price: £115,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.74%
Comments: Ideal for a first investment as very little cosmetic work is required, it’s close to the ever desirable Barnby Road School for families although Number 6 is currently sold stc for £110,000 in the same condition, it’s worth a shot!

Address: 2 Albert Avenue, Balderton, Newark, NG24 3HE
Type: 3 Bedroom End of Terrace
Asking Price: £119,950
Estate Agent: CPG
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.50%
Comments: Balderton is a great area for families thanks to the schools and the A1, this property was last bought in Oct 2015 for £102,500 in need of an update which the current owners have done, with this in mind a tenant should be able to move straight in.

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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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.

Address: Mill Gate Apartments, 11 Mill Gate, Newark NG24 4TR
Type: 2 Bed second floor apartment
Asking Price: £150,000
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 4.6%
Comments: Mill Gate apartments were built/renovated less than 1 year ago to a very good standard so no cosmetic work is required, it’s in a great town centre location and close to Newark Castle Station with views of the river, perfect for a professional couple.

Address: 3 Read Close, Fernwood, Newark, NG24 3FY
Type: 3 Bed mid-terrace
Asking Price: £145,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.17%
Comments: Well presented home ideal for families and couples a like situated in the popular Fernwood establishment, number 1 sold in July for £130,000 without a conservatory in the same condition, what’s there to argue with?!

Address: 6 Simpson Way, Balderton, Newark, NG24 3RD
Type: 3 Bed end of terrace
Asking Price: £135,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.33%
Comments: This private end terrace is tucked away in the older part of Balderton just a short distance from the A1 and several schools; as next door sold for £121,000 without a conservatory in June, it just needs a Gas Safety Cert to make it tenant ready.

Buttercross Best Buy
Address: 6a Wellington Road, Newark, NG24 1NJ
Type: 1 Bed first floor apartment
Asking Price: £78,500
Estate Agent: Alasdair Morrison
Condition: Ready to Rent
Rent Range: £350-400pcm
Yield: 6.11%
Comments: Just a short distance from town centre with permit parking, this little flat is ideal for a professional individual as the neutral decor and modern kitchen make it attractive and it means little to no work would be required for you, it’s hard to argue with that yield!

Address: 1 Sydney Street, Newark, NG24 1LX
Type: 2 Bed end of terrace
Asking Price: £110,000
Estate Agent: Haart
Condition: Some renovation required
Rent Range: £450-500pcm
Yield: 5.45%
Comments: Perfect spot for North Gate Station and town centre, the aging green tiles in the kitchen could do with coming down or painting white and matching doors would help, sadly the bedrooms didn’t get the memo about photo day so they’ve been left out!

Address: 1a Everest Court, Balderton, Newark, NG24 3PZ
Type: 2 Bed end of terrace bungalow
Asking Price: £116,950
Estate Agent: Richard Watkinson
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.64%
Comments: Modern bungalow with a conservatory extension in Balderton close to local amenities and a regular bus service making it ideal for an older couple, the green bedroom carpet is the only real eyesore but the lovely kitchen makes up for it!

Address: 31 Sleaford Road, Newark, NG24 1NF
Type: 3 Bed mid-terrace
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Good location for town centre and train stations making it great for families and commuters although the lack of parking could make it less desirable. The last two 3 beds sold last year for £108,500 and £110,000 in similar condition to this one, it may be worth an offer?

Address: 91 Hawton Lane, New Balderton, Newark, NG24 3EH
Type: 3 Bed mid-terrace
Asking Price: £125,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Spacious and recently refurbished, this 3 bed is close to several schools and has enough space 4 for cars making it a good choice for families. Just a short walk to lake, these properties don’t appear often, grab it if you want it.

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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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: 164 Barnbygate, Newark, NG24 1RQ
Type: 2 Bed mid-terrace
Asking Price: £109,950
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £450-500pcm
Yield: 5.46%
Comments: Fantastic spot for Barnbygate school with no additional work required, appealing kitchen/diner with a breakfast bar and a modern bathroom suite, you just need a tenant!

Address: 16 Shelley Close, Balderton, Newark, NG24 3LS
Type: 3 Bed bungalow
Asking Price: £139,950
Estate Agent: Kirkland and Lane
Condition: Complete update required
Rent Range: £600-650pcm (after update)
Yield: 5.57%
Comments: Bags of potential and it’s in a great area but that price is a bit cheeky! The last 3 bed sold in Sept 2015 for £125,000 in the same condition…

Address: 1 Woodcock Terrace, Fernwood, Newark, NG24 3UW
Type: 3 Bed end-of-terrace
Asking Price: £129,950
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.0%
Comments: Bright and modern living in the popular Fernwood establishment, with a great school, two parking spaces and the A1 nearby, this lovely property ticks all the boxes for a lot of people.

Address: 39 Whitfield Street, Newark, NG24 1QX
Type: 2 Bed mid-terrace
Asking Price: £127,500
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.18%
Comments: Not what i expected! Pleasantly decorated throughout with the added bonus of a bright loft room and 2 further cellar rooms, perfect for a growing family, especially with Barnbygate School just around the corner.

Address: 17 Meldrum Crescent, Newark, NG24 4NZ
Type: 3 Bed semi-detached
Asking Price: £105,000
Estate Agent: William H Brown
Condition: Some modernisation required
Rent Range: £500-550pcm
Yield: 6.29%
Comments: A lick of paint wouldn’t go amiss along with an update in the kitchen, it’s a short distance from Holy Trinity Primary School making it ideal for families and the last 3 bed sold for £113,000 in Sept 2015, sounds fair to me!

Address: Dobson’s Quay, The Wharf, Newark, NG24 1EU
Type: 1 Bed Apartment
Asking Price: £100,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 5.7%
Comments: Right in town centre and ready to go, 1 bed apartments haven’t been on the market since 2006 however the last 2 bed sold for £96,000 in similar condition, is this priced correctly?

Address: 23 Albert Street, Newark, NG24 4BJ
Type: 1 Bed mid-terrace
Asking Price: £90,000
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £400-450pcm
Yield: 6%
Comments: Charming character terrace with a refurbished kitchen, perfect for a professional couple or individual, not to mention it’s close to the town centre and the Newark Castle train station, where do i sign?!

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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