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

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I’m Sam and I’m at Buttercross Estates this week doing work experience so I’ve taken over the blog in place of Abi.
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, let’s see what you think.

Address: 8 Stirling Drive, Coddington, Newark NG24 2TB
Asking Price: £160,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £645-£695pcm
Yield: 5.21%
Comments: Current vendor bought it for £147,500 18 months ago, a bit odd to sell so soon, why? V.popular area for rentals but rare to get so may be worth considering. Parking, garage and close to popular school – good family home. Consider decorating bed 2 to keep options open.

Address: 11 Derwent Court, Balderton, Newark NG24 3NF
Asking Price: £150,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: Newton & Fallowell
Condition: Update required
Rent Range: £600-650pcm (after updated)
Yield: 5.2% (excluding update costs)
Comments: #8 recently sold for £158k back in May in a better condition, some refurbishing needs to be done to open a wider audience as not everyone likes the look of 1980s interior. The property is also near a Sainsburys and the A1. 150k maybe too much for how much needs to be done.

Address: Marton Road, Newark NG24
Asking Price: £130,000
Property Type: 2 Bedroom Semi – Detached House
Estate Agent: Edlin & Jarvis
Condition: Ok condition some work will need to be done.
Rent Range: £550-625pcm (depending on how much refurbishing is done)
Yield: 5.76%
Comments: A very fair asking price as a very similar property sold for 170k last July, however some work would need to be done to match that price it would be foolish to pass this opportunity up.

Address: 14 The Tryst, Newark, NG24 1JG
Asking Price: £130,000
Property Type: 2 Bedroom End of Terrace
Estate Agent: Purple Bricks
Condition: In need of refurbishment
Rent Range: £450-500pcm (after modification)
Yield: 4.62%
Comments: 130k may be weighing on the more expensive side as in the past these houses have been going for around 100k, however the location is very good; a train station, a row of many different shops and near the centre of town. But the fact that the current owner hasn’t seem to updated much in nearly 2 decades makes the asking price of 130k rather surprising.

Address: 6 Rowan Way, New Balderton, Newark NG24 3AU
Asking Price: £110,000
Property Type: 2 Bedroom Apartment
Estate Agent: Newton & Fallowell
Condition: Good
Rent Range: £450-475pcm
Yield: 5.18%
Comments: Current vendor originally bought it for £90,500 back in May 2018, however they’ve had significant work carried out. I think 110k is an good asking price due to the modification that’s been applied.

Address: 10 Huddlestones Wharf, Newark, Nottinghamshire, NG24 4UL
Asking Price: £90,000
Property Type: 1 Bedroom Flat
Estate Agent: Richard Watkinson & Partners
Condition: Ok but needs some work done on a new kitchen
Rent Range: £375-400pcm
Yield: 5.33%
Comments: Originally bought back in 2012 for 75k. The asking price of 90k is a decent price, but is in need of a new kitchen as it hasn’t change much is the past 7 years. In comparison to that the location next to the River Trent and the centre of town is perfect and only adds more to the value.

Sam’s Star Buy:
Address: 21 Hatton Gardens, Newark NG24 4BU
Asking Price: £85,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Richard Watkinson & Partners
Condition: Poor
Rent Range: £575-625pcm (after serious work done)
Yield: 8.82% (excluding modification costs)
Comments: There’s a reason its for 85k serious modification is needed, back in July 2017 an updated version of this house sold for 118k. It’ll be a leniently investment to cover the cost of the refurbishing but some serious money could be made with a yield of 8.82%.

Some good picks this week but 14 the Tryst which I would give a miss unless the owner is willing to go all the way down to around 100k. 11 Derwent Court is also quite a steep asking price for the work required. This weeks POTW was a tricky one between 21 Hatton Gardens and Marton road, however I chose Hatton Gardens as I feel once the work has been done there’s a pretty penny to be made a true diamond in the rough (pun intended). Feel free to give me a call on 01636 343014 or even pop in to our brand new office for a chat to let me know what you think.

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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 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…

Address: 8 Birch Road, Balderton, Newark. NG24 3DB
Asking Price: £140,000
Property Type: 2 Bedroom Semi – Detached
Estate Agent: Winkworth
Condition: Ungoing Renovation
Rent Range: £545-595pcm
Yield: 5.1%
Comments: Popular lakeside location and should make a nice property when done although not overly big. #7 sold for £140k in a good condition in April. Property not being shown in the best light but price seems fair STC of the remaining improvements.

Address: Barnby Gate, Newark NG24 1QD
Asking Price: £125,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.52%
Comments: Lovely character apartment, bonus of a storage shed for a bike, no street parking available though. Newly renovated so expect maintenance to be low aside from the odd tweak. No SC or GR either.

Address: 15 Grove Street, Balderton Newark NG24 3AR
Asking Price: £130,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.76%
Comments: Good sized family house but tight street parking and lack of lawn may deter potential tenants. Bought in Nov 16 for £127,500, not much has changed apart from painting the kitchen yellow(?!)…i’d recommend cream to show it at it’s best.

Address: 44 Cardinal Hinsley Close, Newark NG24 4NQ
Asking Price: £120,000
Property Type: 2 Bedroom Terraced House
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Well presented little house on the edge of Hawtonville, good starter property due to low running costs but that second bedroom is very small. Check the boiler and consumer unit, if they’ve not been updated yet then something to factor in.

Address: 58 Beech Avenue, Newark NG24 4JN
Asking Price: £120,000
Property Type: 3 Bedroom Semi -Detached House
Estate Agent: Newton & Fallowell
Condition: Requires Updating
Rent Range: £600-650pcm (once renovated to a good standard)
Yield: 6.5% (exc renovation costs)
Comments: Good fixer upper for someone that fancies getting stuck in to keep costs down, #52 sold in March 18 for £142,500 after a full renovation. Nice plot although no garage.

Buttercross Best Buy
Address: Linseed Avenue, Newark NG24 2FJ
Asking Price: £129,999
Property Type: 2 Bedroom Semi- Detached House
Estate Agent: Martin & Co.
Condition: Ready to Rent
Rent Range: £545-595pcm
Yield: 5.49%
Comments: Two double bedrooms and a good location for commuters. May have to make the bedrooms one colour but overall a good property, no issues from me!

Address: Mercia Road, Newark. NG24 4NA
Asking Price: £140,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent:William H Brown
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.35%
Comments: Very well presented property, #36 sold in Jan for £125k with the same layout but let down by upstairs and bathroom. Hawtonville, like Fernwood, can be a bit marmite-y so that factor this in.

Address: 1 Chantry Close, Newark. NG24 4JZ
Asking Price: £145,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.96%
Comments: Bought in 2006 for £90k, unsure of how much its changed due to the lack of photos, looks like some of the carpets are getting thin in the bedrooms. Last sale was #6 in May for £91k, same layout but a little more tired.

Address: 3 St. Agustine’s Close, Newton Street, Newark NG24 1SY
Asking Price:£150,000
Property Type: 3 Bedroom End of Terrace House
Estate Agent: Newton & Fallowell
Condition: Update Required in Areas
Rent Range: £600-650pcm (once completed)
Yield: 5.2%
Comments: Good spot for families wanting the Academy School, nice kitchen and bathroom, the rest of the house either needs new floor, redecorating or both.

So that’s this weeks selection, quite a few have come up in Hawtonville over the last month with less in the Fernwood area. A Couple of good investments in here, 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 INVESTMENT PROPERTIES IN NEWARK!!!

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Lovely sunny day today, yay! 20 properties this week on Rightmove however only 7 to talk about, crazy i know, as several were just relisted with others agents, some with multiple agents and sadly a lot of reductions. Properties from £100k to £140k this week so you have a bit more change left over. I’ve added some comments and given you an idea of what you can expect rent wise if you go for it.

Address: 70 Main Street, Balderton, Newark
Asking Price: £120,000
Property Type: 2 Bed End Terrace
Estate Agent: Edlin and Jarvis
Condition: Needs dialling down
Rent Range: £500-550pcm
Yield: 5.5%
Comments: Colourful property on a busy street in Balderton, i love a bit of colour but for a rental property they’re just a bit too bright when you’re trying to attract as many potential tenants as possible. Last on the market in 2013 by the vendors withdrew it, it looked much duller back then!

Address: 5 The Willows, Farndon, Newark, NG24 3TE
Asking Price: £119,000
Property Type: 2 Bed Ground Floor Flat
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 4.8%
Comments: Bought back in to 2016 for £92k, no photos so unsure of the level of update. EPC won’t open so unknown rating, garden makes a nice bonus. Farndon is popular and has good access to A46.

Address: 17 Harcourt Street, Newark, NG24 1RG
Asking Price: £117,500
Property Type: 2 Bed Mid Terrace
Estate Agent: Winkworth
Condition: Already Tenanted
Rent Range: £500-550pcm
Yield: 5.6%
Comments: Already tenanted for £525pcm however it’s EPC F so you will have to spend some money on the property within the next 12 months as even tenanted properties need to be E or above by 1st April 2020.

Address: Gamage Close, Balderton, Newark, NG24 3QA
Asking Price: £109,950
Property Type: 2 Bed Semi-Detached Bungalow
Estate Agent: Newton Fallowell
Condition: Refurbishment Required
Rent Range: £525-575pcm (once refurbished)
Yield: 5.5% (once refurbished, based on £15k spend)
Comments: Perfect property for someone that fancies getting their hands dirty, currently EPC E and requires renovating all the way through.

Address: 173 Barnby Gate, Newark, NG24 1QR
Asking Price: £100,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Martin and Co AND William H Brown
Condition: Light work required
Rent Range: £500-550pcm
Yield: 6.6%
Comments: On with two agents straight away so they must be keen to get rid. The red carpet really needs to go and the brickwork makes the room feel dated, red bedroom wall not ideal either. #159 sold in May for £95k in similar condition.

Address: 29 The Crossings, Newark, NG24 1TY
Asking Price: £100,000
Property Type: 2 Bed First Floor Apartment
Estate Agent: Just Move Estate Agents
Service Charge: £926.30 PA
Ground Rent: £100 PA
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 6.5% (inc SC and GR)
Comments: Lovely looking apartment in a good location, electric heating doesn’t please everyone but we’ve not had difficulty letting apartments in this block previously. Purchased in July 2016 for £92,500.

Buttercross Best Buy
Address: 10 Sydney Terrace, Newark, NG24 4DB
Asking Price: £100,000
Property Type: 2 Bed End of Terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 6.6%
Comments: Ready to go, downstairs bathroom is a marmite one but the house looks great so the right tenant will look past it. Just need to wait for the EPC before you go for it, can’t fault this one!

So that’s this weeks selection, a couple of good potential investments here, 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 INVESTMENT PROPERTIES IN NEWARK!!

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After a busy few months, i’m back again with this weeks properties for sale in Newark! We’ve got 9 new ones to take a look at, i’ve added some comments and given you an idea of what you can expect rent wise if you go for it.

Address: 16 Vernon Street, Newark NG24 1PW
Asking Price: £148,000
Property Type: 3 Bed End of Terrace
Estate Agent: Richard Watkinson & Partners
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.86%
Comments: purchased in July 2017 for £135k in the same condition, the only thing thats changed is the paint colour so why is it £13k more? Well presented and ready to rent but be aware of the low epc, don’t to get caught out should regulations change!

Address:110 Grange Road, Newark NG24 4PW
Asking Price: £145,000
Property Type: 3 Bed Semi Detached
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.17%
Comments: Just a couple of grand more than No 118 that also had a small extension. The kitchen is too much for a rental, it needs dialling down…a lot to appeal to the max amount of tenants as does the rest of the house, think light greys and creams. No chain so may take an offer for quick sale.

Address: 7 Kennedy Walk, Balderton, Newark, NG24 3PJ
Asking Price: £134,000
Property Type: 3 Bedroom Terrace
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.37%
Comments: Well presented property with parking, No 6 sold most recently for £118k 2 years ago without the “storage” extension. No EPC yet so be sure to clarifying rating first, No 6 was EPC D so i’d expect similar.

Address: 14 Lindum Street, Newark, Notts NG24 1NH
Asking Price: £125,000
Property Type: 3 Bedroom Terrace
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.52%
Comments: So this property is being marketed for £1000 more than a two bed that sold in June, the two was lovely but you certainly get more for your money with this one. Lindum St is a dead end so minimal traffic, just neutralise those bold bedroom colours and order your To Let board!

Address: 35 Emmendingen Avenue Newark NG24 2FX
Asking Price: £125,000
Property Type: 2 Bedroom Terrace
Estate Agent: Belvoir!
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5%
Comments: Overpriced and small. The equivalent property sold 3 months ago for £104k. Low council tax band, high epc and reasonable rental price will appeal to budget friendly renters.

Buttercross Best Buy
Address: 53 Sleaford Road, Newark, NG24 1NF
Asking Price: £125,000
Property Type: 2 Bedroom Terrace
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Really well presented house, No 47 sold in May 18 for £116,500 and the condition isn’t much different however the kitchen has been extended and it’s more contemporary. Careful with that low epc, if regulations go up to minimum D then you’ll need to spend a few pennies!

Address: 31 Side Row, Newark NG24 2JB
Asking Price: £119,950
Property Type: 2 Bedroom Terrace
Estate Agent: CPG Property
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.50%
Comments: Low council tax and rent, good first time rental for tenants working on the industrial esate. No 44 sold for £120k in October but not as nice, nothing to complain about this one, priced well, one off street parking space and ready to go.

Address: Hawthorn Crescent, Farndon, NG24 3TG
Asking Price: £80,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Jon Brambles
Condition: Required Renovation
Service Charge: £300 PA
Rent Range: £425-475pcm
Yield: 6.72% (exc work costs)
Comments: Most of the walls and carpets are neutral so we’re off to a good start and it has a garage (USP). Kitchen is functional as is the bathroom but they need updating for top rental price and one neutral colour throughout on the walls. I’d also recommend losing the fire surround, the curtains and painting any brown woodwork white.

Address: Lombard Street, Newark, NG24 1XG
Asking Price: £80,000
Property Type: 1 Bedroom Second Floor Apartment
Estate Agent: Whitegates
Condition: Ready to Rent
Rent Range: £375-425pcm
Yield: 6.38%
Comments: Currently let out for £395pcm with Whitegates and is located above their office. No EPC rating on the advert, if it’s less than an E but mid tenancy you’re okay until 2020, after then you’ll have to get it there or face a fine.

So that’s this weeks selection, a couple of lovely properties in here, 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 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: 66 Bowbridge Road, Newark, NG24 4BZ
Asking Price: £145,950
Property Type: 2 Bed Terrace House
Estate Agent: House Network National
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.14%
Comments: Bought in Nov 2016 for £132k, a lot of the work had already been done on this property, since buying it’s be decorated in places and had a couple of new carpets. It looks fabulous and i don’t doubt that it would be a very popular rental; No 12 sold in August for £139k without the extension but a converted cellar instead.

Address: 7 Jubilee Street, Newark, NG24 3BT
Asking Price: £129,950
Property Type: 3 Bed Terrace House
Estate Agent: My Online Estate Agent
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.30%
Comments: Magnolia heaven with a low EPC ‘E’ rating, cheap on council tax but pricey to heat, something to consider if the government make all properties ‘D’ or higher. Purchased May 2017 for £115k, aside from making the whole thing magnolia, i’m not sure what’s been done since last year to make it nearly £15k more?!

Address: 45 Mercia Road, Newark, NG24 4NA
Asking Price: £125,000
Property Type: 3 Bed Terrace House
Estate Agent: Belvoir
Condition: Some redecoration required
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Sadly the photos aren’t showing this property at it’s best, the bolder colours and wallpaper will need to go to appeal to more prospective tenants. No 49 sold in July for £130k in a similar condition.

Address: 1 Maun Green, Newark, NG24 2HA
Asking Price: £120,000 -£125,000
Property Type: 2 Bedroom Semi-Detached House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5.04%
Comments: Small but perfectly formed, a neat and tidy little house with nothing really wrong with it…it’s just a bit vanilla. You could spend money updating the kitchen, changing the living room carpet and the dated doors to get you nearer to £525-575pcm but it would let as it is…eventually.

Address: 58 Bowbridge Road, Newark, NG24 4BZ
Asking Price: £118,500
Property Type: 2 Bed Terrace House
Estate Agent: Haart
Condition: Renovation Required
Rent Range: £550-600pcm (once renovated)
Yield: 6.07%(exc renovation costs)
Comments: This is the before of number 66 listed above, there’s no epc with this property at present but i have a feeling it’s going to be low i.e solid brick and pitched roof (neither with insulation) plus electric storage heaters (which are a big no no); tenants barely like electric heating let alone storage heaters! Get it like No 66 (minus the extention) to get the rent range suggested.

Address: 25 Lincoln Street, Newark, NG24 1HP
Asking Price: £115,000
Property Type: 2 Bed Terrace House
Estate Agent: Martin & Co.
Condition: Ready to Rent
Rent Range: £450-500pcm
Yield: 5.2%
Comments: On first glance it would appear its ready to rent although hard to know without the photos of the living area but it does look like the carpets look at bit thin. Last sale in July 2017 was No 17 for £110k with a brand new kitchen.

A good variety again this week although some are pretty underwhelming! 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…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…The Investment 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: Stafford Ave, New Balderton, Balderton, Newark NG24 3EG
Type: 3 Bed Mid-Terrace House
Asking Price: £99,950
Estate Agent: William H Brown
Condition: Requires renovation
Rent Range: £525-575pcm (once completed)
Yield: 6.9%

Fantastic opportunity in a cul-de-sac off Hawton Lane on the edge of New Balderton, perfect for a landlord or investor who doesn’t mind getting their hands dirty..or someone else’s! Spacious living accommodation, off road parking and great location for families, once renovated, this property will plenty boxes for potential tenants.

Ideal for as a buy to let, fix and sell or a first time buy, the stylish slate grey windows and door frame would suggest they have been recently fitted so just the inside remains; I’ve found that tenants don’t like downstairs bathrooms or separate bathrooms and toilets, why would you have a sink in a different room?! Aside from the camera shy kitchen, which i will assume isn’t because it’s so stunning the agents didn’t want to make the rest look tired, a lick of on trend grey paint and neutral new flooring throughout will lift the property with ease and give a much warmer feel than magnolia everywhere.

Assuming the kitchen is out of date, cream, grey or black doors give a high end finish for not a lot more than budget beech door fronts and will look great with a light oak effect worktop; save money by just replacing the doors instead of the complete unit. If you fancy the challenge, take a look around and see if you can knock through to make the bathroom and w/c one room!

The last property on Stafford Avenue sold for £124,000 in January with a simple but appealing neutral interior, plenty of off street parking and a low maintenance garden but according to RightMove, only 7 properties have sold on Stafford Avenue since 1997 suggesting people don’t buy to fix up and sell but to stay long term. Number 1 sold in 2016 for £115,000, it was a 3 bedroom mid terrace renovated to a high standard, looking at prices now though there’s no reason after all that work you couldn’t sell it on for £130,000+ depending on the finish.

This will certainly be an investment to keep you busy but isn’t that the fun part? Not to mention nearly 7% isn’t to be scoffed at although agreeably it will take time to make back the money you’ve put into the property but £575pcm is more than achievable, with the way the rental market is going you may even get more! It has been on the market since March and was reduced this week, why not make the most of a rare renovation opportunity and take a look?

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: 32 Wright Street, Newark, NG24 1PJ
Type: 2 Bed terrace
Asking Price: £80,000
Estate Agent: Jon Brambles
Condition: Damp work required
Rent Range: £450-500pcm (once work completed)
Yield: 7.5%
Comments: Despite looking like an end terrace, this hasn’t always been the case; number 28 was subject to a gas explosion from foam canisters, the land the house was on has since been purchased and it’s expected another house will be built in its place. Damp work is required on the wall that was previously number 30, aside from that, a lick of paint, a lawn mower to the back garden and a good clean throughout would soon turn this into a family home.

Address: Apartment 50, Barrows Gate, Newark, NG24 2FY
Type: 2 Bed first floor apartment
Asking Price: £92,500
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 6.16%
Comments: Flats in this block are very popular buy to let and with a yield like this who can blame them! Easy access to the A1 and town centre, ideal fora professional couple and the decorating is already done, what else do you need?

Address: 56 Appleton Gate, Newark, NG24 1LR
Type: 2 Bed mid-terrace
Asking Price: £100,000
Estate Agent: William H Brown
Condition: Requires modernisation
Rent Range: £475-525pcm (once modernised)
Yield: 6.3%
Comments: Good area for town, commuters and families although a new kitchen and a carpet cleaner would be well received in 2 bed terrace. Number 46 sold for £115,000 in Feb last year in a better condition so what do we think to the asking price?

Address: 48 Alliance Street, Newark, NG24 1HR
Type: 3 bed semi-detached
Asking Price: £125,000
Estate Agent: William H Brown
Condition: Some work required
Rent Range: £500-550pcm (once modernised)
Yield: 5.28%
Comments: A stones throw from the train station and a short walk into town, the kitchen appears to be camera shy but the property as a whole has potential and it’s perfect for couples that have rug-o-phobia!

Address: 34 Trinity Road, Newark, NG24 4EN
Type: 3 Bed semi-detached
Asking Price: £125,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Well presented spacious family home that’s close to several schools and the leisure centre, Number 31 sold in May for £119,950 and was finished to a lower standard, just need a tenant now!

Buttercross Best Buy
Address: 19 Hayside Avenue, Balderton, Newark, NG24 3GB
Type: 2 Bed semi-detached
Asking Price: £129,995
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.07%
Comments: Fab little 2 bed house in Balderton with a garage, driveway and enclosed garden, perfect for a couple to move straight into, that is if the missing pictures of the bathroom and kitchen are coincidental and not because they’re that ugly!

Address: 21 Hounsfield Close, Beacon Heights, Newark, NG24 2LR
Type: 2 Bed semi-detached
Asking Price: £129,950
Estate Agent: Alasdair Morrison
Condition: Some modernisation required.
Rent Range: £500-550pcm
Yield: 5.07%
Comments: Great spot for the A1 and Coddington School, the potential is there even with that kitchen but with number 33 selling a year ago for £129,995 in great condition, i would challenge the asking price for sure.

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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