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

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Address: 15 Byron Close, Newark NG24 4DX
Asking Price: Offers Over £140,000
Property Type: 4 Bed Terrace House
Estate Agent: Edlin & Jarvis
Condition: Ready to Rent
Rent Range: £625-675pcm
Yield: 5.79%
Comments: Very well presented property, i’d be half tempted to leave the bold colours and wallpaper and see what the feedback is, it will feel more like a home than a rental. The area can make it harder to let but it’s swings and roundabouts.

Address: 36 Milner Street, Newark NG24 4AA
Asking Price: £140,000
Property Type: 3 Bed Mid Terrace House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent – just garden tlc
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Owned since 2001, looks like it’s been recently “neutralised” for selling purposes, bad cover up of the old fire place and the garden needs some tlc. Good location for families with Barnby Road Academy around the corner.

Address: 32 Bailey Road, Newark, NG24 4EW
Asking Price: £140,000
Property Type: 3 Bed Terrace House
Estate Agent: Newton & Fallowell
Condition: Some Minor Work Required
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Open plan living will appeal to families plus plenty of off street parking. I’d consider changing/removing the wallpaper in the kitchen and certainly the bedroom carpet and wallpaper. #24 sold for £113k in March which was neutral throughout.

Address: 93 Goldstraw Lane, Fernwood. NG24 3FD
Asking Price: £139,950
Property Type: 3 Bed End Terrace House
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.36%
Comments: Purchased from new back in 2006 for £121,995, doesn’t appear to have changed in this time. Popular location but those bedrooms are small, more suitable for a couple with occasional guests.

Address: 15 Heron Way, Balderton. NG24 3DD
Asking Price: £135,000
Property Type: 2 Bed Semi Detached House
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.11%
Comments: This has been on and off the market a lot over recent years, it’s a popular location but the house or the price isn’t working for people. Check the consumer unit and boiler as these will be getting old now if they’ve not been done yet. Bed 2 wallpaper makes the room feel small.

Address: 77 Hatton Gardens, Newark NG24 4BU
Asking Price: £132,500
Property Type: 2 Bed Terraced House
Estate Agent: Newton & Fallowell
Condition: EPC Too Low to Rent
Rent Range: £545-595pcm
Yield: 5.39%
Comments: Really well presented property and in a nice spot too however, it’s an EPC F so it’s not legal to let. Get yourself a copy of the EPC off the register to see whether you’re able to pay for the required improvements before committing.

Address: 22 Hine Avenue, Newark NG24 2LH
Asking Price: £130,000 – £140,000
Property Type: 2 Bed Semi detached House
Estate Agent: Newton & Fallowell
Condition: Needs some minor updating
Rent Range: £525-575pcm
Yield: 4.93%
Comments: Update the master bedroom and the kitchen tiles if you can justify it. Low maintenance garden and parking are nice additions.

Address: 81 Hawton Lane, New Balderton, Newark. NG24 3DH
Asking Price: £129,950
Property Type: 3 Bed Terraced House
Estate Agent: Alasdair Morrison
Condition: Needs Updating Throughout
Rent Range: £575-625pcm (once completed)
Yield: 5.77% (once completed)
Comments: Property is dated throughout, 3 bed end terrace on Stafford Ave in similar condition sold in May for £115k. This property seems to be very pricey for the size, condition and location.

Address: 12 The Brewhouse, Castle Brewery, Newark NG24 4AF
Asking Price: £120,000-£125,000
Property Type: 2 Bedroom Ground Floor Duplex Apartment
Estate Agent: Jon Brambles
Condition: Ready to Rent Service Charge: £3500 PA Ground Rent: £125 PA
Rent Range: £625-675pcm
Yield: 6.3% (inc SC and GR)
Comments: Very spacious apartment in a popular location, one parking space can cause issues and the limited parking. Have carried out 3 let only’s for this apartment with families being the most interested due to the size.

Address: 26 Sawyers Close, Newark, NG24 2HF
Asking Price: £110,000
Property Type: 2 Bed Terraced House
Estate Agent: Edlin & Jarvis
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 6%
Comments: Bought in April 18 for £111,250, nothing to really comment on, a bit vanilla but good size for a couple. Good location for industrial estate access.

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: 70 Milner Street, Newark, NG24 4AA
Asking Price: £135,000
Estate Agent: Winkworth
Condition: Complete Refurbishment Required.
Rent Range: £600-650pcm (Once refurbished)
Yield: 5.77%
Comments: Complete overhaul required, I know retro is in at the moment but I’m not convinced! There’s no photo of the bathroom but judging the rest of the house I think it’s safe to say it will be bad. Most expensive terrace on the street fetched £158,500 in June this year (Number 8).

Address: Goldstraw Lane, Fernwood, NG24 3FF
Asking Price: £114,950
Service/Maintenance Charge: approx £1,317.12 PA
Ground Rent: £125 PA
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 6.18% (inc GR and Serv Charge)
Comments: Modern, low maintenance property making it ideal for a first time investor, 3 bed apartments aren’t overly common on the rental market so desirability is difficult to judge. The owners have cleverly used one of the bedrooms as a dining room to make extra living space, certainly worth advising tenants.

Address: 24 Birch Road, New Balderton, NG24 3DB
Asking Price: £135,000
Estate Agent: Newton Fallowell
Condition: Light Refurbishment Required.
Rent Range: £575-625pcm
Yield: 5.55%
Comments: Good area for families and couples, close to the A1 and outstanding schools. Price is fair for the work required, that kitchen has got to go, the gardens need some tlc and the master needs a carpet..also I’m not sure anyone has ever said “nice mismatch conservatory tiles”…

Address: 77 Philip Road, Newark, NG24 4PE
Asking Price: £89,950
Estate Agent: Newton Fallowell
Condition: Cosmetic Work Required.
Rent Range: £500-525pcm
Yield: 7.00%
Comments: Kitchen is good and it just needs a lick of paint and the curtains getting rid of. Maybe a new bathroom? 86 Grange Road sold for £87,000 in June this year.

Address: 63 London Road, Balderton, NG24 3AG
Asking Price: £110,000
Estate Agent: Edlin & Jarvis
Condition: New Fences Required
Rent Range: £525-£575pcm
Yield: 6.27%
Comments: Typical 2 bed terrace. Not the biggest but will be fine to rent. Number 71 sold for £114,950 last December but was much bigger upstairs and in better condition.

Address: Apartment 2, Dobsons Quay, Newark, NG24 1EU
Asking Price: £89,950
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £475-525pcm
Yield: 5.59% (Allowing for service charge)
Comments: Looks a well styled flat in a good location. Not the biggest place but OK for a single person or couple. Value has increased by 34% since 2003.

Address: 10 Apple Avenue, Fernwood, Newark, NG24 3US
Asking Price: £86,000
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £400-425pcm
Yield: 5.93%
Comments: Cosy 1 bed quarter house complete with oil stain on the parking space. Just check on service charges as this will affect your yield.

Address: Coleman Avenue, Balderton, NG24 3DR
Asking Price: £126,950
Estate Agent: Haart
Condition: Cosmetic Work Required
Rent Range: £575-625pcm
Yield: 5.91%
Comments: There’s a lot going on in this house so hard to really tell but it certainly needs decorating throughout. Bathroom looks dated but kitchen seems OK. Last two terraced sales on the street were for £103,000 and £97,000 over 2 years ago.

Address: Whitfield Street, Newark, NG24 1QX
Asking Price: £125,000
Estate Agent: Haart
Condition: Needs Renovation
Rent Range: £625-675pcm (after renovation)
Yield: 6.48%
Comments: Another ambitious price from Haart considering number 51 sold for £124,000 in excellent condition 12 months ago. Looks like it needs a skip or ten…

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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Specialist Property Investment & Letting Advice

Letting Agent In Newark on Trent
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Last week I posted this list on our Facebook page…

✔ Listed a landlords first ‪‎BTL‬ property.
✔ Pick up keys to a flat for another new landlord tomorrow.
✔ Helped 2 clients secure their next BTL investments.
✔ 3 mid tenancy checks for existing landlords.
✔ Informed a landlord how to end a tenancy on a house he was selling.
✔ Advised 3 other clients on purchases which they’ve secured.
✔ Made one landlord an extra £3,380 a year on one property.

This week has been just as productive…

✔ Listed 2 new properties that were long term empties.
✔ Appraisal for another long term empty.
✔ Helped a landlord switch from another agent.
✔ A few pointers for a landlord who is letting (unsuccessfully) with another agent.
✔ Advised a landlord who was struggling to sell.
✔ Let a 2 bed terrace in Newark for over 232% of the market rent. Legally.

Very pleased with getting some of the long term empty properties in Newark I’ll be posting more details about the last point later next week, but right now I’m off for a Pimms in the sunshine.

If you’re in need of property advice, pop into the office next week or give us a call to see how we can help you.

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