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.

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

Address: 18 Marton Road, Newark, NG24 1SL
Asking Price: £115,000
Property Type: 3 Bed Semi Detached
Estate Agent: SDL Auctions Graham Penny
Condition: Light refurbishment
Rent Range: £625-675pcm
Yield: 7.04%
Comments: Needs to be viewed to assess the condition. £130,000 seems to be the average price for a property on this street. Also factor in the buyers premium payable to the auctioneer.

Address: 44 Smith Street, Balderton, NG24 3BA
Asking Price: £120,000
Property Type: 2 Bed Terraced
Estate Agent: William H Brown
Condition: Ready To Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Two doors up sold for £115,000 in 2016. Looks recently modernised and ready to rent. The only bathroom is located off one of the bedrooms hence why they have described it an an en-suite. Located down a quiet cul de sac.

Address: 30 Smith Street, Balderton, NG24 3BA
Asking Price: £120,000
Property Type: 3 Bed Terraced
Estate Agent: Richard Watkinsons
Condition: Full Refurb Required
Rent Range: £550-600pcm
Yield: 6.00%
Comments: They’re all selling up on Smith Street. This needs a lot of work but offers a lot of potential. Good sized bedrooms and a huge garden which is missing a fence. Overpriced considering the amount of work required.

Address: 174 Northgate, Newark, NG24 1HL
Asking Price: £120,000
Property Type: 2 Bed Terraced
Estate Agent: Winkworth
Condition: Light Refurb Required
Rent Range: £475-525pcm
Yield: 5.25%
Comments: Small terraced house in a good spot for the station. Next door sold for £106,000 last August and looks more modern (just looking at the front doors). Around £25,000 too much.

Address: 6 Wood Street, Newark, NG24 1PN
Asking Price: £125,000
Property Type: 3 Bed Terraced
Estate Agent: Haart
Condition: Ready To Rent
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Next door to a house share. Paid £111,000 in December 2014 after it was renovated so probably not done anything to it since. Located near to Barnby Road Academy.

Address: 3 Newton Street, Newark, NG24 1SU
Asking Price: £130,000
Property Type: 3 Bed Terraced
Estate Agent: Bairstow Eves
Condition: Light Refurb Required
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Better location than Wood Street I think, though you’ll pay a bit more for it. Next door sold for £115,000 in January this year.

Buttercross Best Buy
Address: 28 Pelham Street, Newark, NG24 4XD
Asking Price: £130,000
Property Type: 2 Bed Terraced
Estate Agent: Jon Brambles
Condition: Ready To Rent
Rent Range: £525-575pcm
Yield: 5.31%
Comments: Tidy property close to town centre. Last bought for £107,000 in 2014. Comes with a garage which is handy in this location.

Address: 4 Toll Bar Cottages, London Road, Balderton, NG24 3JE
Asking Price: £130,000
Property Type: 2 Bed Terraced
Estate Agent: Jon Brambles
Condition: Ready To Rent
Rent Range: £575-600pcm
Yield: 5.54%
Comments: Another tidy property from Jon Brambles. Number 1 sold for £117,000 in 2014. Car park to the side of the property.

Address: 5 Riverside Road, Newark, NG24 4RJ
Asking Price: £140,000
Property Type: 2 Bed Semi Detached
Estate Agent: Newton Fallowell
Condition: Light Modernisation Required
Rent Range: £575-625pcm
Yield: %
Comments: Popular location and plenty of storage which is lacking in more modern properties. Kitchen needs modernising and probably the bathroom. Number 1 sold for £136,500 in 2015.

Address: 4 Friary Road, Newark, NG24 1LE
Asking Price: £145,000
Property Type: 2 Bed Terraced
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £575-600pcm
Yield: 4.96%
Comments: Very well presented terraced house near to the town centre. Busy road and neighbours have Japanese knotweed which is being treated. Something to investigate further.

Address: 16 Baines Avenue, New Balderton, NG24 3BL
Asking Price: £145,000
Property Type: 2 Bed Semi Detached
Estate Agent: Alasdair Morrison
Condition: Probably Needs Work (No internal photos)
Rent Range: £575-600pcm
Yield: 4.96%
Comments: Paid £133,950 in September 2007 shortly after it was renovated (bought in February of the same year for £95,000). No internal photos to see what it’s like now and the description doesn’t help. Off street parking for when the road fills up during the school run. Often used as a run through to the back of Balderton.

Address: 26 Boundary Road, Newark, NG24 4AL
Asking Price: £150,000
Property Type: 3 Bed Terraced
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £600-625pcm
Yield: 5.00%
Comments: Last terrace to sell on the street was #16 for £132,000 back in 2015. Looks very well presented. Quite tight for parking around this busy road.

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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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: 18 Chestnut Avenue, Newark, NG24 2BZ
Type: 3 Bed semi detached house
Asking Price: £150,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £625-675 pcm
Yield: 5.40%
Comments: This house has had a double storey extension to create a larger kitchen and bigger bedrooms upstairs.

Address: 22 Gainsborough Drive, Newark, NG24 2BX
Type: 3 Bed semi detached house
Asking Price: £135,000
Estate Agent: Haart
Condition: Ready to rent
Rent Range: £650-700 pcm
Yield: 6.22%
Comments: Not often a rental property comes to the market with a hot tub, great USP. They love their bold decor.

Address: 99 London Road, Balderton, NG24 3AA
Type: 2 Bed mid terraced house
Asking Price: £113,000
Estate Agent: Newton Fallowell
Condition: Some work to do.
Rent Range: £500-550 pcm
Yield: 5.84%
Comments: Looks like an illegal socket behind the hob. Utility area looks like it could do with a facelift as does the bathroom.

Address: 52 Stephen Road, Newark, NG24 2BG
Type: 3 Bed terraced house
Asking Price: £114,950
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £575-625 pcm
Yield: 6.52%
Comments: Looks pretty good but no photo of the bathroom which is usually a sign. Great location for workers at Knowhow. Feels like it should be circa £100,000.

Address: 29 Eton Avenue, Newark, NG24 4JD
Type: 2 Bed end terraced house
Asking Price: £107,000
Estate Agent: Now Homes
Condition: Ready to rent
Rent Range: £500-550 pcm
Yield: 6.17%
Comments: Bought for £85,000 3 years ago but it’s clear they’ve spent some money on it. Great condition.

Address: 9 Wetsyke Lane, Balderton, NG24 3NY
Type: 3 Bed semi detached house
Asking Price: £144,950
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £625-675 pcm
Yield: 5.59%
Comments: Not sure on the kitchen. Don’t know if it’s the tiles that are offending me. Property has been extended and Balderton is very popular with families.

Address: 142 Grange Road, Newark, NG24 4PW
Type: 3 Bed semi detached house
Asking Price: £129,950
Estate Agent: Martin & Co
Condition: Requires modernising
Rent Range: £550-600 pcm (after refurbishment)
Yield: 5.54%
Comments: Kitchen looks modern and these houses are built well but I assume everything else is required. Two toilets but no bath?! Way overpriced.

Buttercross Best Buy
Address: 18 Clayton Close, Newark, NG24 4HN
Type: 2 Bed semi detached bungalow
Asking Price: £142,500
Estate Agent: Jon Brambles
Condition: Needs modernising
Rent Range: £575-625 pcm
Yield: 5.26%
Comments: Needs a lot of work but tucked away down the end of the cul-de-sac. Number 12 sold a few years back for £126,000 in a similar condition.

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

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Apple Tree Close, Newark
Type: 2 Bedroom Ground Floor Apartment
Asking Price: £85,000
Estate Agent: Newton Fallowell
Condition: Modern
Rent Range: £450-475 pcm
Yield: 6.71%
Comments: Ideal for table football fans.

Address: 2 Century Street, Newark, NG24 1QP
Type: 3 Bedroom Mid Terraced House
Asking Price: £94,950
Estate Agent: Richard Watkinson
Condition: Tired and needs some work.
Rent Range: £500-550 pcm
Yield: 6.95%
Comments: They’ve embraced the feature wall. 2 bathrooms are a bonus.

Address: Johnsons Road, Fernwood
Type: 2 Bedroom Second Floor Apartment
Asking Price: £108,995
Estate Agent: Martin & Co
Condition: Ready to rent
Rent Range: £475-500 pcm
Yield: 5.50%
Comments: 2 bed apartment for the price of a 2 bed townhouse.

Address: 15 Wetsyke Lane, Balderton, NG24 3NY
Type: 3 Bed Semi Detached House
Asking Price: £123,500
Estate Agent: JHW Home
Condition: Needs modernising
Rent Range: £650-700 pcm
Yield: 6.80%
Comments: 3 bed homes in Balderton are in short supply. Please change the fire surround.

Address: 27 Staunton Road, Newark, NG24
Type: 3 Bed Semi Detached House
Asking Price: £124,950
Estate Agent: Winkworth
Condition: Ready to rent
Rent Range: £575-625 pcm
Yield: 6.00%
Comments: Recently renovated with a lack of imagination. Needs some life. Typical rental standard.

Address: 9 The Gateway, Newark, NG24 1TZ
Type: 2 Bedroom Coach House
Asking Price: £125,000
Estate Agent: Kirkland & Lane
Condition: Ready to rent
Rent Range: £525-575 pcm
Yield: 5.52%
Comments: Quirky living spaces often appeal to tenants.

Address: 2 Jallands Row, Newark, NG24 1JU
Type: 2 Up, 2 Down Terraced House
Asking Price: £145,000
Estate Agent: Winkworth
Condition: Typical character property
Rent Range: £475-525 pcm
Yield: 4.34%
Comments: Great location for the town centre. Lovely green street.

Buttercross Best Buy
Address: 3 Lincoln Road, Newark, NG24 2BU
Type: 3 Bed Semi Detached House
Asking Price: £145,000
Estate Agent: Richard Watkinson
Condition: Polystyrene tiles on the wall, need I say more?
Rent Range: £750-800 pcm
Yield: 6.62%
Comments: Requires a complete refurbishment and depending on the purchase price, could make an excellent flip opportunity.

If you’ve seen a property in 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… Cross Street, Newark

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Cross Street

This week we are talking about this 2 bedroom terraced house on Cross Street, Newark.

My recent blog post was about the ever popular 2 up 2 down and how they will always be a top choice for tenants & landlords.

Cross Street is in catchment for Barnby Road Academy which is an Ofsted Outstanding School, so clearly this will be a good choice for a family. Equally, given its proximity to the centre of town, it would be ideal for a couple, or indeed single tenancy.

Personally I find the fluorescent paint work a little startling but actually the house looks really good.

The kitchen & the bathroom look clean, modern & fresh, well cared for.

From the photos there doesn’t appear to be any work that needs doing so it would be great for an investor looking to pick up the keys to an instant income.

The garden space is low maintenance and there is an out building offering additional storage. This has been top of the requirements list for several tenants recently who run their own business & need that extra storage space.

So in summary a 2 bed house, close to amenities, low maintenance & council tax band A… this is sure to be popular with tenants.

We currently have tenants waiting for 2 bed properties in the area.
If you have a rental property or are thinking of investing, please contact us.

This is on the market for £84,950
It last sold for £68,000 in 2011, so that is almost a 25% increase in just over 4 years.

Typically this type of property would rent for £475 per month.
Potential yield of 6.7%
This is a healthy yield.

The Estate Agent is Jon Brambles 01636 613513

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Eyes On… Potential 5 Bed HMO In Mansfield

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Houses in Multiple Occupation are becoming more and more popular especially after the announcements regarding the mortgage interest tax relief. Landlords are looking to maximise their returns and HMOs are one strategy that ticks the boxes.

Over the coming weeks I will be highlighting a few entry level HMOs that could potentially provide you with higher returns than the standard BTL investment.

This week we have a 3 storey property on the Berry Hill estate in Mansfield. 24 Cairngorm Drive currently has 4 bedrooms, 2 bathrooms, kitchen, lounge and WC. There is also an integral garage which you would convert into the 5th bedroom.

At the moment it’s quite bland but you would add some personality when furnishing the place. To renovate and furnish a property this size you’d be looking at around £24,000 with the total cash required circa £68,000 (based on obtaining a 70% LTV mortgage on the purchase).

5 bedrooms in this area would generate around £1,900 per month when fully let. After all costs, this would give you a net yield of 15.16% on your capital.

Properties such as this do require a higher level of investment, and indeed management, but as you can see the returns are also far superior.

Looking for better returns on your investments? As well as managing property we source investments across Nottinghamshire. We’ve got more where these come from so get in touch with your requirements.

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Eyes On… Wetsyke Lane, Balderton

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Wetsyke

This week we are talking about this 1 bedroom terraced house on Wetsyke Lane, Balderton.

This caught my eye as recently we have received several enquiries from people looking for single occupancy properties to rent.

This is a quaint and very appealing looking terrace, nestled in a row of very well presented houses. It is on the near end of Main Street which means it would be very easy to get to the local amenities.

It doesn’t appear to need any work and it really does look cosy.

It would clearly suit someone living on their own or potentially a couple (just bear in mind there is no spare room in case of an argument!)

Based on conversations I have had, I could imagine if this was let out to a single occupant, it would be on a long term lease which is good news for both the landlord and the tenant.

This area of Balderton has a nice village feel with convenience stores, a post office and a very popular fish & chip shop in close proximity!

There is a small garden at the back, plus a parking space. Coupled with double glazing and central heating, already I can think of at least 3 recent applicants who would have been very interested in renting this house.

This property is on the market for £99,950

This type of property would typically rent out for £450 per month giving a potential yield of 5.4%

The Agent is Jon Brambles 01636 613513.

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Eyes On… Lime Grove, Newark

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Lime Grove

This week we are talking about this 2 bedroom terraced house on Lime Grove, Newark.

It is not very often a great renovation project like this is available in the centre of Newark.
Look at the house to the right and you can visualise what it could become.

The green paint must go.

The photos are quite fascinating, this house is seemingly preserved in a bygone era and you can imagine that is how the house has looked for many decades. A very basic kitchen with hob & sink, the furniture and simplicity of living.

Looking past that to bring it up to modern day living you could certainly put your own stamp on it.

The good news is that the bathroom is upstairs which can sometimes be a pitfall with these terraced properties. That will certainly save some money.

There is the potential to extend & possibly a few walls to knock through so there is definitely scope to add value which makes this property an ideal investment as a buy to let or to flip.

To say the garden (which is apparently planted with shrubs) looks overgrown is an understatement but I am sure that somewhere under there is a patio crying out for a table & chairs.

This property is on the market for £99,950

A lower offer may well be accepted as a derelict property a few doors down recently sold for £88,000

A 2 bed on the same street recently sold for £120,000 giving an indication of prices once renovated.

Once renovated you could expect this property to rent out for £500 per month giving a yield of 6%.

The Agent is Richard Watkinson 01636 611811

To keep up to date with industry news & local market news in Newark & Nottinghamshire, visit our blog

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