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

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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…hopefully a better selection than last week!

Buttercross Best Buy
Address: Flat 5 Main Street, Balderton, Newark, NG24 3NU
Asking Price: £140,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £575-625pcm
Service Charge: £960 PA
Ground Rent: £130 PA
Yield: 5.31% (inc SC and GR)
Comments: Really well presented apartment, perfect for a couple or single person. You’ll struggle to make any more money on it unless house prices naturally rocket. “New Build” in May 16, vendors paid £137,500.

Address: 26 Nicholson Street, Newark, NG24 1RD
Asking Price: £140,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Richard Watkinson
Condition: Ready to Rent
Rent Range: £545-£595pcm
Yield: 5.1%
Comments: Good starter property for both LL’s and tenants, good EPC, low council tax band. Lots of terrace’s to let so harder to stand out but good pics and price will help. No work needed, tenants just need to be ready for 2 sets of neighbours!

Address: 3 Newstead Avenue, Newark, NG24 1ND
Asking Price: £130,000-140,000
Property Type: 2 Bedroom Semi-Detached
Estate Agent: Newton Fallowell
Condition: Update Required
Rent Range: £525-£575pcm
Yield: 4.92%
Comments: Two great sized bedrooms and plenty of living space, a little dated in all honesty, the kitchen really lets it down…can’t decide what’s on the floor either..carpet effect vinyl?! More £130k than £140k.

Address: 10 Edward Avenue, Newark, NG24 4UZ
Asking Price: £130,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-£575pcm
Yield: 5.30%
Comments: The unpainted woodwork and country-esk colours work well due to the age, i’d leave them be. Downstairs bathroom is more often than not a negative for tenants.

Address: Montgomery Road, Newark, NG24 4HA
Asking Price: £125,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £550-£600pcm
Yield : 5.76%
Comments: Need to finish the decor in the living room, ready to go other than that. The striped paper may not be for everyone but it’s not offensive. Lovely kitchen and bathroom. Last sale May 18, #14, 3 bed semi, £105,500 in the same condition.

Address: Lindum Street, Newark, NG24 1NH
Asking Price: £125,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £525-£575pcm
Yield: 5.52%
Comments: #13 sold in June 18 for £124k with only 2 bedrooms…VERY well presented though. This property is fine, a bit vanilla and bed 3 is a bit tiddly. EPC is pretty low, just to be aware of if the min rating changes then you’ll be in hot water.

Address: 26 Bowbridge Road, Newark, NG24 4BZ
Asking Price: £115,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5.47%
Comments: The photos are not helping this house at all…wowzers. The dark wallpaper needs to go in Bed 1 to help it feel lighter, no idea what bed 2 looks like. Bought for £83,320 in July 13, honestly it looked better before.

Address: Sleaford Road, Newark, NG24 1NG
Asking Price: £110,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Newton Fallowell
Condition: Update Required
Rent Range: £500-£550pcm (nearer £550pcm when done).
Yield: 6%
Comments: Not looking great, 1 bed and bathroom need flooring, walls marked so i’d recommend just decorating throughout. Coffee wallpaper and 3 diff types of tile in the bathroom?! Less than £500pcm at present.

Address: Stephen Road, Newark, NG24 2BG
Asking Price: £100,000 – £110,000
Property Type: 3 Bed Semi-Detached
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £550-£600pcm
Yield: 6.54%
Comments: 3 Bed #30 sold for £130k in Nov 18 in a similar condition, not really sure why this is so much less! Neutral throughout, no EPC issues, ex council property.

So that’s this week’s selection, we’ve got terraced houses coming out of our ears!! I wouldn’t normal recommend a flat as it’s harder to increase income over time but it’s really quite lovely and i think it would let well. 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 :).

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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: 10 Clarke Avenue, Newark, NG24 4NY
Type: 3 Bedroom semi-detached
Asking Price: £140,000
Estate Agent: Richard Watkinson
Condition: Ready to rent
Rent Range: £600-650pcm
Yield: 5.57%
Comments: Recently renovated to a very good standard and a new ground floor extension added to the rear, it’s quite obvious they’ve spent a lot of money on the property; Whether it justifies the price considering Number 39 was sold in August for £110,000 it is up to you to decide.

Address: Parsons Close, Fernwood, Newark, NG24 3UX
Type: 1 Bedroom quarter house
Asking Price: £92,000
Estate Agent: Martin and Co
Condition: Ready to rent
Rent Range: £375-425pcm
Yield: 5.54%
Comments: Located on the popular Fernwood development with allocated parking, this size property would be ideal for a couple however without any photos it’s impossible to know what it’s like inside!

Address: 55 Appleton Gate, Newark, NG24 1LN
Type: 2 Bedroom end terrace
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to rent – apart from the kitchen!
Rent Range: £525-550pcm
Yield: 5.5%
Comments: Good location for the train station and town centre, the property is neutrally decorated until you get to the kitchen which has different colour cupboards, tiles and splash back that i know i wouldn’t want.

Buttercross Best Buy
Address: 120 Winthorpe Road, Newark, NG24 2AX
Type: 3 Bedroom semi-detached
Asking Price: £139,950
Estate Agent: JHW Home
Condition: Ready to rent
Rent Range: £625-675pcm
Yield: 5.78%
Comments: Properties like this one on the street don’t appear on the market very often, it’s in a great location for the A1/A46 and would suit most types of tenant, however the shower unit could do with coming out of the bathroom and replacing it with a bath and an overhead shower as it will appeal to more tenants.

Address: 103 Elizabeth Road, Newark, Nottinghamshire, NG24 4NR
Type: 3 Bedroom semi detached
Asking Price: £134,950
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £625-675pcm
Yield: 6%
Comments: The owners have clearly spent a lot of money on the property, it was bought 2 years for £37k less than the current asking price so it looks like there hard work has paid off. Great property for a family with plenty of living space and a large enclosed rear garden.

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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