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!

Buttercross Best Buy
Address: 4 Hardwick Avenue, Newark. NG24 4AW
Asking Price: £135,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Whitegates
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.78%
Comments: Whitegates have said £500pcm for this property, okay it has wooden single glazed windows and solid brick walls BUT it is EPC rated ‘D’ so it’s legal to rent, so why SO low? Martin and Co let the house next door for £650pcm with double glazed windows but the same EPC rating, i’d want to know why £500pcm.

Address: 2 Eton Court, Eton Avenue, Newark. NG24 2JB
Asking Price: £145,000
Property Type: 2 Bedroom Detached Bungalow
Estate Agent: Richard Watkinson & Partners
Condition: Update Required
Rent Range: £525-£575pcm (once updated)
Yield: 4.76% (exc refurb costs)
Comments: Located in Hawtonville, rare bungalow opportunity but it’s in need of an update, the carpets are ageing it and the kitchen isn’t helping either. Try changing the unit doors rather than the carcasses to save money. Now Homes have been trying to sell No 5 since May for £149,950, it would appear a lot of Bungalows have been reduced recently on Rightmove.

Address: 62 Wolfit Avenue, Balderton, Newark, NG24 3PH
Asking Price: £130,000
Property Type: 3 Bedroom Semi Detached
Estate Agent: Winkworth
Condition: Update Required
Rent Range: £625-675pcm (once completed)
Yield: 6.23% (exc refurb costs)
Comments: Plenty of potential and try saving costs by decorating, lifting flooring and changing kitchen unit doors yourself. Main thing is to get the house EPC ‘E’ or above for legality reason then crack on with the cosmetic bits.

Address: Flat 102, The Roundhead Building, Warwick Brewery, Newark, NG24 1TU
Asking Price: Offers over £129.950
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Winkworth
Condition: Ready to Rent
Ground Rent: £100 PA
Management Fee: £1000 PA
Rent Range: £600-650pcm
Yield: 5.95%
Comments: Well presented apartment in a sought after location, last sale was a 3 Bed in Sep 2017 for £138,500 so the price seems fair. Low EPC and electric heating may put potential tenants off.

Address: 35 Stafford Avenue, Balderton, Newark NG24
Asking Price: £115,000
Property Type: 3 Bedroom Semi Detached
Estate Agent: Alasdair Morrison
Condition: No photos to see
Rent Range: £525-575pcm
Yield: 6% (exc any potential work)
Comments: Pretty useless ad but i’ve done some digging and it turns out this is currently at HMO (house of multiple occupancy)! The blue kitchen cabinets are…different, seen worse but it’s likely you’ll need to spend money to make it a family home again.

Address: Mill Green, Newark. NG24 2HU
Asking Price: £110,000
Property Type: 3 bedroom terraced house
Estate Agent: Castlegate and Martin & Co.
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.5%
Comments: On with two agents, Martin and Co have had it a week longer. Interesting bathroom and kitchen tiles but i’ve seen bolder!! The small living area often lets these properties down when finding a tenant.

Address: 184 Barnby Gate, Newark, NG24 1RH
Asking Price: £110,000
Property Type: 3 Bedroom Terrace
Estate Agent: Purple Bricks
Condition: Some Updates Required
Rent Range: £500-550pcm
Yield: 6%
Comments: Good kitchen and bathroom so the biggest battle is already done. Pull up those bold carpets and go for ‘character’ by leaving the floorboards exposed underneath, very quaint. Check the age of the boiler so you don’t get caught out.

Address: Goldstraw Lane, Fernwood. NG24 3FF
Asking Price: £85,000
Property Type: 2 bedroom apartment
Estate Agent: Martin & Co.
Condition: Ready to Rent
Ground Rent: £135 PA
Maintenance Charge: £1252.45 PA
Rent Range: £500-550pcm
Yield: 7.63%
Comments: Great first investment, modern apartment with the bonus of an en-suite AND bathroom, we let the same style of apartment on Youngs Avenue earlier this year for £550pcm. No 46 sold in Dec 2017 for £87k with the same condition and layout.

A good selection of properties, makes a nice change! If you have any questions about any of this weeks properties then i’d love to have a chat on 01636 343014, or even better, pop in for a chat and a cuppa.

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EYES ON….THIS WEEK 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: 31 Jubilee Street, Newark, NG24 4DA
Asking Price: £109,950
Property Type: 3 Bed Mid Terraced House
Estate Agent: Winkworth
Condition: Complete Update Required
Rent Range: £525-575pcm (once updated)
Yield: 6.28% (NOT inc renovation costs)
Comments: Crying out for an update, ALL of it. There’s no EPC yet so i’d check the rating then prioritise if you’re on a budget, E or above or you can’t let it.

Buttercross Best Buy
Address: 9 Linseed Avenue, Newark, NG24 2FJ
Asking Price: £140,000
Property Type: 3 Bed Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.57%
Comments: Good starter investment, we recently let a 3 bed semi on Wheatsheaf Avenue for £625pcm in a similar condition. The only real thing that lets it down is the kitchen, it would be worth changing the unit doors if nothing else.

Address: 25 Bromley Avenue, Newark, NG24 4DS
Asking Price: £119,950
Property Type: 2 Bed Semi Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent (althought i’d recommend a kitchen!)
Rent Range: £500-550pcm
Yield: 5.5%
Comments: Another one awaiting an EPC, looking at the age it’s likely to be at least an E so hopefully you can spend any spare pennies on a kitchen; yes it’s ready to rent but a dated kitchen will put tenants off leaving it empty for longer.

Address: Huddlestones Wharf, Newark, NG24 4UL
Asking Price: £150,000
Property Type: 2 Bed Maisonette
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 4.4%
Comments: Very well presented maisonette, certainly not something that comes up very often. Currently building work underway on the lhs of the building and it’s next to The Navigation Pub, something to bare in mind for your new tenants.

Address: 96 Beacon Hill Road, Newark, NG24 2JG
Asking Price: £130,000
Property Type: 2 Bed Mid Terraced House
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £545-595pcm
Yield: 5.5%
Comments: Surprisingly spacious house, almost Tardis like! #94 sold in February for £130k in a very similar condition.

Address: Apartment 12, 11 Mill Gate, Newark, NG24 4TR
Asking Price: £130,000
Property Type: 2 Bed Second Floor Apartment
Estate Agent: Edlin and Jarvis
Condition: Ready to Rent
Ground Rent: £115 PA
Maintenance Charge: £720 PA
Rent Range: £475-525pcm
Yield: 4.82%
Comments: Lovely looking apartment but a lot for what it is, you may even obtain £550pcm but be prepared to wait, overpricing is a surefire way to put tenants off.

Address: 2a Milton Street, Newark, NG24 3AW
Asking Price: £150,000
Property Type: 3 Bed Semi Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £625-675pcm
Yield: 5.4%
Comments: Fabulous kitchen/diner extension, this will be a big hit with families and those that like to entertain. EPC is a low E so be aware that should the minimum rating raise again, you may need a speed a few pennies, the report will detail what.

Address: 133 London Road, Newark, NG24 3AH
Asking Price: £129,950
Property Type: 3 Bed End of Terrace House
Estate Agent: Door Steps and LetsXchange
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.31%
Comments: Ready to go and has been advertised with LetsXchange for some time, recently marketed by Door Steps, it would suggest that they are getting itchy feet, it may be worth striking while the iron’s hot and putting in a cheeky offer.

Address: 8 Sydney Terrace, Newark, NG24 4DB
Asking Price: £125,000
Property Type: 2 Bed Semi Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent (although AGAIN i’d change the kitchen)
Rent Range: £500-550pcm
Yield: 5.28%
Comments: No chain, ideal for a quick buy. No recent sales on the street or in the area, the kitchen lets it down (in my opinion!) but that’s your call. The off street parking will be very appealing.

Lots of new kitchens this week but if you have any questions about any of this weeks properties then i’d love to have a chat on 01636 343014, or even better, pop in for a chat and a cuppa.

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Buy to let & Buy to sell investments in Nottinghamshire

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As part of our ongoing service to our landlords we help them grow their portfolios through sourcing the very best investments. Here are a few of the most recent acquisitions.

Buy to let investments…

Semi detached in Mansfield

  • 2 Bedroom semi detached house in Mansfield
  • Bought for £40,000
  • Let for £475 PCM after refurbishment

3 Bed terrace in Bulwell

  • 3 Bedroom mid terrace house in Bulwell
  • Bought for £58,000
  • Let from completion for £460 PCM

1 Bedroom apartment in Chilwell

  • 1 Bedroom apartment in Chilwell
  • Bought for £49,000
  • Let for £395 PCM after refurbishment

If your strategy is buy to sell we also had a few of those…

3 Bed end terrace in Mansfield

  • 3 Bedroom end terrace in Mansfield
  • Bought for £43,000
  • Flipped at auction for £65,000

3 bedroom semi in Clipstone

  • 3 Bedroom mid terrace in Clipstone
  • Bought for £40,000
  • Sold for £77,000 after refurbishment

If you are a landlord in Nottinghamshire looking for your next investment property then you need to get in touch with us. We carefully analyse each deal to ensure you only acquire the best investments. We also come across HMO and development opportunities like one client currently converting a former office in Long Eaton into 8 x 1 bedroom apartments.

For more information or to get in touch, visit our website. We’re not just a letting agent in Newark.

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