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

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Address: 83 Barnby Gate, Newark. NG24 1QW
Asking Price: £150,000-£155,000
Property Type: 2 Bedroom Mid Terrace House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £545-£595pcm
Yield: 4.76%
Comments: Bought just 7 months ago for £145k, nothing has changed at all. Begs the question, why move so soon? Neighbours, parking, noise? Positives – very well presented, plenty of living space and central location.

Address: Goldsmith Road, Balderton, Newark, NG24 3QR
Asking Price: £150,000
Property Type: 2 Bedroom Semi – Detached Bungalow
Estate Agent: William H Brown
Condition: Some work needed
Rent Range: £600-650pcm when done
Yield: 5.2%
Comments: Bungalow rentals are few and far between but popular, this one needs a lick of paint, couple of carpet changes, a new oven and at least a re-grout in the bathroom. Replacement kitchen and bathroom would be best but understandably not ideal.

Address: 20 Boundary Road, Newark NG24 4AL
Asking Price: £150,000 – £160,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5%
Comments: Well presented property although funny layout, kitchen-bathroom-utility-sunroom!? No bath which often puts young families off. Good sized bedrooms. #26 sold for £153k in Nov 18 in a similar condition but not extended as much.

Buttercross Best Buy
Address: 70 Lime Grove, Newark, NG24 4AH
Asking Price: £149,950
Property Type: 3 Bedroom Terraced House
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.2%
Comments: #40 sold in Dec 18 for £137,500 in similar condition. Downstairs bathroom isn’t for everyone so consider that. Popular street, we’ve often found rentals go promptly when priced right. Just need to lose the nursery decor and try and budge that price.

Address: 20 Orchid Drive, Farndon, Newark, Nottinghamshire NG24 3TX
Asking Price: £147,500
Property Type: 2 Bedroom House
Estate Agent: Belvoir!
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.08%
Comments: Popular village with a garage conversion. Second bed a little small but good for a couple or single person. No work required, worth checking the boiler age as it will be on it’s last legs if it’s the original.

Address: 77 Clarks Lane, Newark, Nottinghamshire, NG24 2EF
Asking Price: £130,000
Property Type: 2 Bedroom Semi – Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.3%
Comments: Well presented little house, good starter house for both tenant and LL in terms of running costs and initial outlay. Properties do take quite a while to sell though, something to factor in.

Address: 1 The Malthouse, Newark, NG24 1LA
Asking Price: £130,000 – £140,000
Property Type: 2 Bedroom Ground Floor Duplex Apartment
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £600-650pcm
Ground Rent: £800 PA
Yield: 5.96%
Comments: Really lovely apartment in a good, central location to town and station. We’ve let apartments at Maltings View on the other side of the road Apartments seem to take a very long time to sell in this block, i’m honestly not sure why, too much money?! This was purchased in June 16 for £137,500.

Address: 9 Philip Road, Newark NG24 4LX
Asking Price: £130,000
Property Type: 3 Bedroom Terraced House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.76%
Comments: Recently renovated although i can’t get past the dark brown window surrounds and window sills…why?! Bit of a marmite-y area but you’ll never please everyone! We let a 4 bed for £675pcm earlier in the year to a similar standard on Gopher Road.

Address: 32 Side Row, Newark, NG24 2JB
Asking Price: £119,950
Property Type: 2 Bedroom Terraced House
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £500-£550pcm
Yield: 5.5%
Comments: Ready to go, nice budget friendly for both LL and tenant. Good for A1 and industrial estate. Was previously marketed with another agent back in January 2019, properties in this area can take a while to sell.

Address: 18 Youngs Avenue, Fernwood, Newark. NG24 3FG
Asking Price: £99,950
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Martin & Co
Condition: Ready to Rent
Rent Range: £470-£520pcm
Yield: 6.2%
Comments: Bought for £77k in March 2017, considered ditching the lounge carpet and lightening up walls in bedroom 2 and the hallway to get maximum rental and a quicker let. The photos don’t really help as they make the apartment seem dark.

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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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 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: 21 Kingsnorth, Newark, NG24 1PS
Asking Price: £145,000
Estate Agent: Winkworth
Condition: Some work required
Rent Range: £625-675pcm (once work completed)
Yield: 5.4%
Comments: Semi-detatched, located down a quiet cul-de-sac within catchment to Barnby Gate School. In April 2017 a property very similar to this with a more modern kitchen and bathroom sold for £140,000 so why is this £149,950 when you need to rip out the dated kitchen and bathroom?

Address: 4 Clipsham Close, Balderton, NG24 3LD
Asking Price: £140,000
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Located in a desirable area of Balderton with great connections to the A1/A46, this 2 bed semi-detached house is well presented making it ideal for a first-time investor. It comes with an off-street parking space and the largely landscaped garden with limited grass space however the small bedrooms would make it well suited for a professional couple.

Address: 3 Barnby Crossing, Newark, NG24 2NG
Asking Price: £129,950
Estate Agent: CPG Property
Condition: Ready to rent.
Rent Range: £550-600pcm
Yield: 5.55%
Comments: Lovingly finished 2 bed terraced house with a great views of the English countryside. It has a great reception area made via an extension to the kitchen but is let down by the dated tiles that aside, it would make a great first time investment but bare in mind the closeness of the train line could be unattractive to most tenants.

Address: 11 Barnby Crossing, Newark, NG24 2NG
Asking Price: £129,950
Estate Agent: CPG Property
Condition: Ready to rent.
Rent Range: £550-600pcm
Yield: 5.55%
Comments: The second of two properties listed on Barnby Crossing this week. With two reception areas, two decent sized double bedrooms and a large bathroom we could see a working couple that could take advantage of the great travel links the location of this property has to offer. This property was sold previously in April 2017 so why the sudden need to sell?

Address: 89 Ruby’s Walk, Fernwood, Newark NG24 3FA
Asking Price: £139,950
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £600-650pcm
Yield: 5.78%
Comments: Located on the popular Fernwood estate this property would be ideal for professional couple or a small family. The bedrooms appear to be camera shy so it is hard to say whether there is anything to do cosmetically, although The most recently sold 3 bed end of terrace house on the estate (with a similar lay-out) was sold for £115,000 in 2013; It had a beautifully landscaped garden and a more modern interior.

Address: 15 Kings Road, Newark NG24 1EW
Asking Price: £125,000
Estate Agent:Richard Watkinson
Condition: Ready to rent
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Period Terrace house within walking distance of the train station. Morrisons is only a few doors down, so that makes the weekly shop that bit easier! Was bought in 2014 for £90,000 so questions can be asked as to whether £35,000 of extra value has been added on in the last 3 years considering it has only been painted.

Buttercross Best Buy
Address: 188 Barnby Gate, Newark NG24 1RH
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready To Rent
Rent Range: £575-625pcm
Yield: 6.25%
Comments: Fabulously decorated, and somewhat a bit odd! 3 beds makes this ideal for a family. Would be a problem to those who need a car as no off-street parking so better suited to those who work in town. Ideal for a first time investor. We understand that next door was sold for £110,000 earlier this year. However, next door was in need of a brand new kitchen, redecoration throughout and don’t get us started on that bathroom!

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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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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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: 4 Greenway, Newark, NG24 4JE
Type: 3 Bed Semi-Detached
Asking Price: £145,000
Estate Agent: Newton Fallowell
Condition: Some modernisation required.
Rent Range: £550-600pcm (once completed)
Yield: 4.97%
Comments: Nestled within Hawtonville,this 3 bed semi is crying out for an update, no bathroom or bedroom photos suggests it’s as dated or worse than the living room. Considering how much needs to be spent on this, the price is a way off, a pristine 4 bed sold for £142,500 in December.

Address: 12 Pond Close, Fernwood, Newark, NG24 3RU
Type: 3 Bedroom Town House
Asking Price: £145,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.38%
Comments: Very well presented town house ideal for a first time investor with little/no work required meaning it could be marketed straight away; the vendors purchased this is in March for £139,500 so they aren’t making much after fees. 3 bed town house in Fernwood with a large garden and 2 parking spaces, perfect.

Address: Clipsham Close, Newark, NG24 3LD
Type: 2 Bed Semi-Detached
Asking Price: £132,950
Estate Agent: Haart
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.42%
Comments: Cosey little house perfect for a couple or singleton, the camera shy bathroom does worry me but the driveway is always a tenant pleaser and it’s in a great location. Don’t be put off by the nearby train line, it’s not THAT close and our tenants on the same street don’t seem to notice it!

Address: Milton Street, Balderton, Newark, NG24 3AP
Type: 3 Bed Semi-Detached
Asking Price: £127,000
Estate Agent: Purple Bricks
Condition: Complete Renovation Required
Rent Range: £600-650pcm
Yield: 6.14%
Comments: Not for the faint hearted, brilliant opportunity for those who aren’t afraid of getting their hands dirty, 25k on renovations and you’d still get 5.1% yield. We let the exact same style of property on Shakespeare Street mid renovation for £650pcm, thanks to early advertising the landlords had no void period.

Address: 8 Wright Street, Newark, NG24 1PJ
Type: 2 Bed Mid-Terrace
Asking Price: £112,500
Estate Agent: CPG Property Ltd
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5.6%
Comments: Colourful 2 bed home within Barnby Road Academy catchment area making it great for small families, good first time investment as it’s reasonably priced and little work is required but don’t get drawn in by the converted loft space, you need to check the legalities of the staircase.

Buttercross Best Buy
Address: Apartment 3, Dobsons Quay, Newark, NG24 1EU
Type: 1 Bed Ground Floor Apartment
Asking Price: £95,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 6%
Comments: Lovely modern apartment located on the banks of the River Trent in Newark town centre, with an allocated parking space to the rear and 5 minutes walk to Newark Castle station, it’s ideal for a working professional or couple. I have nothing bad to say about this apartment, no work required, in a great location and hello 6% yield!

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 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: 20 Shakespeare Street, Balderton, Newark, NG24 3AN
Type: 3 Bed Semi Detached House
Asking Price: £139,950
Estate Agent: Winkworth
Condition: Requires renovation
Rent Range: £625-675pcm (once completed)
Yield: 5.8%

Brilliant property in a great location with so much potential, perfect as a buy to let or first time buy as long as you don’t mind getting your hands dirty! Tenants love a spacious house in the right location but they don’t like old and outdated so bare that in mind, good tenants rent good houses.

Wondering where to start? Well, the kitchen and bathroom are a MUST, the carpeted bath panel and tiles from yesteryear may have been of their time but they certainly aren’t now, a simple white suite with fab floor tiles and neutral walls will attract tenants or potential buyers if you’re wanting a fix and sell; if you have the budget, floor to ceiling tiles and a good quality shower will add the wow factor. As for the kitchen, i’m not sure they thought the layout through when they first built it, the pantry/utility is a great bonus but next to no worktops will certainly put families off, where are you meant to put anything?! Decoration aside, if the radiator was moved or even removed entirely, units and a worktop could be installed adding much needed storage and space. As for the rest of the house, the bedrooms are bearable in magnolia and could be left alone, the only other room that really needs updating is the lounge, get rid of the pink carpet and green walls and go for a simple mocha shaded carpet and neutral walls but ideally NOT magnolia!

The last property on Shakespeare Street sold in Feb 2017 for £134,450 with an appealing modern interior, high gloss kitchen and plenty of off street parking along with a well presented rear garden and just 2 bedrooms. We let a 3 bedroom semi-detached property on Shakespeare Street earlier this year for £650pcm, it was in a similar condition to this property initial but after hours of effort from the landlord, it was let with a fabulous high gloss kitchen, stunning bathroom and neutral carpets and decor throughout.

This will be a fantastic investment to get stuck into, at around £15,000 to get the property to a high standard, it’s going to take time to make it back but £675pcm will help you get there in no time! We had a lot of interest in the last property and we actually let it mid refurb, the right tenant will see the potential and jump at the opportunity to live in a high end family home. Let us know how you get on!

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…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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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: 26 Hardwick Avenue, Newark, NG24 4AW
Type: 3 Bed mid-terrace
Asking Price: £147,500
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.3%
Comments: This mid terrace house is just a short walk to Newark town centre and is within the catchment area for Christ Church and William Gladstone primary schools making it ideal for young families. The current owners bought the property in Oct 2015 for £134,410 and have since added the shower room and redecorated in parts, number 22 sold in June 2016 for £138,000 but it didn’t have additional shower room, is it worth the extra £10k?

Address: 37 Kingsnorth Close, Newark, NG24 1PS
Type: 3 Bed semi-detached
Asking Price: £140,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £5252-575pcm
Yield: 4.93%
Comments: Garage, off street parking, close to town centre and the station, this property ticks a lot of boxes for prospective tenants, not to mention the modern kitchen and low maintenance garden. Another property on the street, 22a, sold in Oct 2016 for £129,500 however they had spent money making an open plan kitchen/diner/lounge and installed double french doors to the rear of the property. Based on that information, i’m not sure why this property is being marketed for £140,000 unless of course it has a seriously impressive bathroom!

Address: 9 Wolsey Road, Newark, NG24 2AZ
Type: 3 Bed semi-detached
Asking Price: £140,000
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.14%
Comments: This is a spacious home perfect for families and couples alike, it has a large garden with a shed and summerhouse and is just a short walk into town. The property is ready to rent however some new carpets and kitchen cupboard doors would make the world of difference, the last 2 properties sold were for £119,995 and £120,000 respectively so why is this one £140,000?

Address: 17 Magdalene View, Newark, NG24 2HZ
Type: 2 Bed end terrace
Asking Price: £120,000
Estate Agent: Express Estate Agency
Condition: Some modernisation required
Rent Range: £475-525pcm
Yield: 5.25%
Comments: Advertised as an investment property, it’s in a great spot for the A1 and the industrial estates but this house could do with an update in the kitchen and the bathroom, keep costs low by just replacing the doors in the kitchen instead of complete units and try tile paint in the bathroom. Number 19 sold Dec 2015 for £117,500 with a new kitchen and attractive garden so this price could be a little optimistic.

Address: 21 Coronation Street, Balderton, Newark, NG24 3BD
Type: 2 Bed end-terrace
Asking Price: £120,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.5%
Comments: This is a lovely home in a desirable area for a couple or small family with the A1 and Newark town centre near by along with the John Hunt School just a short walk away. Similar properties don’t come up for sale very often however looking at what else is currently on the market, it would appear to be on par with other like for like properties.

Address: 109 Balderton Gate, Newark, NG24 1RY
Type: 2 Bed mid-terrace
Asking Price: £79,950
Estate Agent: Alasdair Morrison
Condition: Requires renovation
Rent Range: £375-425pcm (once renovated)
Yield: 6.4%
Comments: Ideal for someone wanting to get stuck in! Perfect for families with young children as it’s within the Barnby Road Primary School and it’s just a short walk into town and Newark Castle train station. Properties on this street let on average for £425pcm with an exception of one at £600pcm that was refurbished to a very high standard and slightly further down the road.

Buttercross Best Buy
Address: 11 King Street, Newark, NG24 4UQ
Type: 2 Bed semi-detached
Asking Price: £79,950
Estate Agent: Alasdair Morrison
Condition: Requires renovation
Rent Range: £500-550pcm (once renovated)
Yield: 8.26%
Comments: This property has a lot of potential in the rental market and it’s perfect for someone that wants to start from scratch; the neighbouring property was let in April 2016 for £550pcm and there’s no reason why this couldn’t easily let for £550pcm or higher dependent on the finish.

Address: Cardinal Hinsley Close, Newark, NG24 4NQ
Type: 2 Bed mid-terrace
Asking Price: £120,000
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Tucked away right on the edge of Hawtonville is this deceptively spacious 2 bed home with a conservatory and parking. The last property was sold for £108,000 in June 2016 and it was finished to the same level as this one but it didn’t have a conservatory.

Address: 1 Lindum Street, Newark, NG24 1NH
Type: 2 Bed end-terrace
Asking Price: £117,000
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £450-500pcm
Yield: 5.13%
Comments: This is just a short distance from the train station and the town centre, the last 2 bed was sold for £112,500 in July 2016 and was finished to a very high standard. It would require very little work to this house so you just need find a new tenant for it!!

Address: 44 Grove Street, New Balderton, Newark, NG24 3AZ
Type: 2 Bed mid-terrace
Asking Price: £110,000
Estate Agent: Newton Fallowell
Condition: Redecoration required
Rent Range: £500-550pcm
Yield: 6%
Comments: It’s located in the sought after New Balderton area and is great for both primary and secondary schools; most houses on this street with 3 bedrooms sell for £110,000, the most recent was March 2016 with the last 2 bed selling in 2014 for £83,000. The property needs very little doing to it, to make it more desirable i would get the paint tins out and get rid of the red and yellow walls.

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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