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.

Here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor!

Address: 32 Smith Street, Balderton, Newark, NG24 3BA
Asking Price: £135,000
Property Type: 3 Bed End of Terrace
Estate Agent: William H Brown
Condition: Little Work Required
Rent Range: £525-575pcm (once work completed)
Yield: 5.11% (NOT inc improvement costs)
Comments: I would suggest carpets at least in the bedrooms, whether you’d like to keep the blue is up to you! There’s no EPC, it will need to be E or higher to rent out. Downstairs bathrooms can be a bit marmitey so bare that it mind.

Address: Portland Street, Newark, NG24 4XG
Asking Price: £125,000
Property Type: 3 Bed Mid Terrace Cottage
Estate Agent: CPG Properties
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.52%
Comments: Quirky property although on a busy road, kitchen is a little underwhelming and washed out (sanding down those beams to bring the colour back may help?!) but the rest is pretty cosy. Loving the garden bar USP.

Address: 51 Alexander Avenue, Newark, NG24 3BB
Asking Price: £110,000
Property Type: 3/4 Bed Semi-Detached
Estate Agent: Newton Fallowell
Condition: Work Required
Rent Range: £550-600pcm (once renovated)
Yield: 6.55% (NOT inc renovation costs)
Comments: Carpets and redecoration definitely required; ideally new kitchen but if cutting costs then rub down and paint unit doors although those tiles still need to go. Need to look into the damp issue in the bedroom and as for the bathroom…who knows?! Poor garden…

Address: Robert Dukeson Avenue, Newark, NG24 2FF
Asking Price: £140,000
Property Type: 2 Bed End of Terrace
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 4.7%
Comments: Already tenanted so assuming they’re good tenants, your work is done and no void period either! Martin and Co haven’t stated the current rent obtained, if they’re long standing tenants then it may be less than you were hoping so be sure to check.

Address: 14 Emmendingen Avenue, Newark, NG24 2FX
Asking Price: £140,000
Property Type: 3 Bed End of Terrace
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Immaculately presented property, #20 sold this time last year for £134k but not quite at this level. Good location for KnowHow and Bakkavour workers with town within walking distance.

Address: Stephen Road, Newark, NG24 2BG
Asking Price: £130,000
Property Type: 3 Bed Semi Detached
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.54%
Comments: Larger than you’d expect, these are ex council properties but don’t let that put you off, we let the same style house on Wolsey Road in January for £600pcm and the landlord had the choice of 4 applications!

Buttercross Best Buy
Address: 27 Marron Court, Fernwood, Newark, NG24 3UR
Asking Price: £99,950
Property Type: 1 Bedroom Quarter House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 5.70%
Comments: Ideal low maintenance investment for less than £100k, modern and with allocated parking making it ideal for professional person(s). #30 sold in December for £106k in a similar condition

If any of these properties have caught your eye and you’d like to discuss 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 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: 18 Marton Road, Newark, NG24 1SL
Asking Price: £115,000
Property Type: 3 Bed Semi Detached
Estate Agent: SDL Auctions Graham Penny
Condition: Light refurbishment
Rent Range: £625-675pcm
Yield: 7.04%
Comments: Needs to be viewed to assess the condition. £130,000 seems to be the average price for a property on this street. Also factor in the buyers premium payable to the auctioneer.

Address: 44 Smith Street, Balderton, NG24 3BA
Asking Price: £120,000
Property Type: 2 Bed Terraced
Estate Agent: William H Brown
Condition: Ready To Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Two doors up sold for £115,000 in 2016. Looks recently modernised and ready to rent. The only bathroom is located off one of the bedrooms hence why they have described it an an en-suite. Located down a quiet cul de sac.

Address: 30 Smith Street, Balderton, NG24 3BA
Asking Price: £120,000
Property Type: 3 Bed Terraced
Estate Agent: Richard Watkinsons
Condition: Full Refurb Required
Rent Range: £550-600pcm
Yield: 6.00%
Comments: They’re all selling up on Smith Street. This needs a lot of work but offers a lot of potential. Good sized bedrooms and a huge garden which is missing a fence. Overpriced considering the amount of work required.

Address: 174 Northgate, Newark, NG24 1HL
Asking Price: £120,000
Property Type: 2 Bed Terraced
Estate Agent: Winkworth
Condition: Light Refurb Required
Rent Range: £475-525pcm
Yield: 5.25%
Comments: Small terraced house in a good spot for the station. Next door sold for £106,000 last August and looks more modern (just looking at the front doors). Around £25,000 too much.

Address: 6 Wood Street, Newark, NG24 1PN
Asking Price: £125,000
Property Type: 3 Bed Terraced
Estate Agent: Haart
Condition: Ready To Rent
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Next door to a house share. Paid £111,000 in December 2014 after it was renovated so probably not done anything to it since. Located near to Barnby Road Academy.

Address: 3 Newton Street, Newark, NG24 1SU
Asking Price: £130,000
Property Type: 3 Bed Terraced
Estate Agent: Bairstow Eves
Condition: Light Refurb Required
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Better location than Wood Street I think, though you’ll pay a bit more for it. Next door sold for £115,000 in January this year.

Buttercross Best Buy
Address: 28 Pelham Street, Newark, NG24 4XD
Asking Price: £130,000
Property Type: 2 Bed Terraced
Estate Agent: Jon Brambles
Condition: Ready To Rent
Rent Range: £525-575pcm
Yield: 5.31%
Comments: Tidy property close to town centre. Last bought for £107,000 in 2014. Comes with a garage which is handy in this location.

Address: 4 Toll Bar Cottages, London Road, Balderton, NG24 3JE
Asking Price: £130,000
Property Type: 2 Bed Terraced
Estate Agent: Jon Brambles
Condition: Ready To Rent
Rent Range: £575-600pcm
Yield: 5.54%
Comments: Another tidy property from Jon Brambles. Number 1 sold for £117,000 in 2014. Car park to the side of the property.

Address: 5 Riverside Road, Newark, NG24 4RJ
Asking Price: £140,000
Property Type: 2 Bed Semi Detached
Estate Agent: Newton Fallowell
Condition: Light Modernisation Required
Rent Range: £575-625pcm
Yield: %
Comments: Popular location and plenty of storage which is lacking in more modern properties. Kitchen needs modernising and probably the bathroom. Number 1 sold for £136,500 in 2015.

Address: 4 Friary Road, Newark, NG24 1LE
Asking Price: £145,000
Property Type: 2 Bed Terraced
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £575-600pcm
Yield: 4.96%
Comments: Very well presented terraced house near to the town centre. Busy road and neighbours have Japanese knotweed which is being treated. Something to investigate further.

Address: 16 Baines Avenue, New Balderton, NG24 3BL
Asking Price: £145,000
Property Type: 2 Bed Semi Detached
Estate Agent: Alasdair Morrison
Condition: Probably Needs Work (No internal photos)
Rent Range: £575-600pcm
Yield: 4.96%
Comments: Paid £133,950 in September 2007 shortly after it was renovated (bought in February of the same year for £95,000). No internal photos to see what it’s like now and the description doesn’t help. Off street parking for when the road fills up during the school run. Often used as a run through to the back of Balderton.

Address: 26 Boundary Road, Newark, NG24 4AL
Asking Price: £150,000
Property Type: 3 Bed Terraced
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £600-625pcm
Yield: 5.00%
Comments: Last terrace to sell on the street was #16 for £132,000 back in 2015. Looks very well presented. Quite tight for parking around this busy road.

If any of these properties have caught your eye and you’d like to discuss 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: 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…..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: 52 Jericho Road, Balderton, Newark, NG24 3GT
Type: 3 Bedroom semi detached
Asking Price: £140,999
Estate Agent: CPG Property Ltd
Condition: Ready to rent
Rent Range: £575-625pcm
Yield: 5.32%
Comments: The last semi detached property of this style on the street sold for £138,000 in 2014, it’s a popular area for families and couples as there’s schools and good connections to the A1. Little to no work would be required so it’s tenant ready, not to mention the desirable conservatory and garage, the question is whether or not to keep the peach kitchen?

Address: 24 Newstead Avenue, Newark, NG24 1ND
Type: 3 Bedroom semi detached
Asking Price: £120,000
Estate Agent: William H Brown
Condition: Ready to rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Properties don’t sell on this street often so it’s hard to judge the price but the decor is tasteful and the bright modern kitchen will attract a lot of prospective tenants so it’s ideal if you want to take on a low maintenance property.

Address: 31 Lawrence Street, Newark, NG24 1NE
Type: 2 Bed semi detached
Asking Price: £115,000
Estate Agent: William H Brown
Condition: Some renovation required
Rent Range: £475-525pcm
Yield: 5.48%
Comments: With two double bedrooms, spacious kitchen/diner and a substantial garden this property will tick the boxes for a lot of tenants. It could stretch to £550-575pcm if some money was spent updating the kitchen and bathroom along with a lick of paint throughout however it would still rent as it stands just at 5.4% instead of potentially 6% yield.

Address: 11 Long Row, Newark, NG24 1RW
Type: 2 Bed mid terrace
Asking Price: £81,500
Estate Agent: Winkworth
Condition: Some light renovation
Rent Range: £395-425pcm
Yield: 6.26%
Comments: This cosy property is within walking distance of Barnby School and has a desirable addition of off street parking. A utility room has been added to the rear of the property to create additional living space however the dated gas fire and bright red walls aren’t to everyone’s taste and who knows what the bathroom looks like!

Address: 9 Long Row, Newark, NG24 1RW
Type: 2 Bed mid terrace
Asking Price: £95,000
Estate Agent: William H Brown
Condition: Ready to rent
Rent Range: £395-425pcm
Yield: 5.37%
Comments: This property is the exact same layout as the one above except this one has a larger garden as it doesn’t have a utility on the back. It has neutral decor throughout and a low maintenance garden to the rear, it would be ideal for a couple or small family and they could move straight in but is it worth £13,500 more than number 11?

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: 35 Strawberry Hill Lane, Newark, NG24 2EP
Type: 2 Bedroom detached
Asking Price: £140,000
Estate Agent: CPG
Condition: Ready to rent
Rent Range: £500-550pcm
Yield: 4.71%
Comments: The addition of a large conservatory means the property has a reasonable amount of living space for a 2 bed house, ideal for a small family or couple. The bathroom could do with an update and the over bed storage isn’t ideal but it’s functional however the neighbouring property, number 37, sold in August for £138,000 with a bigger garden but less living space.

Address: 32 Edward Avenue, Newark, NG24 4UZ
Type: 2 Bedroom mid terrace
Asking Price: £125,000
Estate Agent: Newton Fallowell
Condition: Ready to rent (possibly!)
Rent Range: £500-550pcm
Yield: 5.28%
Comments: This property is in great town centre location with off road parking and a garage however with no photos of the bathroom or the kitchen i would question what they are trying to hide, not to mention the addition of storage heaters throughout, i would consider whether it’s priced correctly.

Address: 39 Parliament Street, Newark, NG24 4UP
Type: 2 Bedroom end terrace
Asking Price: £113,000
Estate Agent:Now Homes
Condition: Some modernisation required
Rent Range: £450-500
Yield: 5.31%
Comments: It could do with a kitchen and bathroom update but it’s in a good central location, the last terrace property sold on the street was number 35 in 2013 for £87,000 so it’s your decision if you think the price is right!

We’ve hit that time of year where the property market goes quiet as people don’t want to sell or buy houses around Christmas but don’t let this put you off; make the most of the opportunity and take a look back at some of the properties that have been on the market for a while and put in a cheeky offer to grab a bargain.

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: 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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Refurbish it and they will come

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In Kevin Costner’s 1989 movie, “Field Of Dreams” he’s standing in a corn field and hears a voice tell him “If you build it, he will come”. I’ve never seen the film but I’m guessing he was a landlord too.

I’m a big advocate of investing into your properties and refurbishing them. Think about it, if you’re house looks and smells like a sewer, who’s going to live there… rats! On the other hand, if you’ve got a lovely, high quality palace then you’d probably use the phrase “fit for a Queen”.

I see far too many shoddy properties coming to the letting market where landlords have failed to invest or improve the property. This reluctance to improve will end up producing a downward spiral of lower rent, worse tenants, poorer property, longer voids, lower rent, worse tenants etc.

Refurbish your homes to a good quality and good quality tenants will come. A good property will produce an upward spiral of lower voids, higher rent, better tenants, better property etc.

OK, so we know Kevin Costner wasn’t really a landlord, but the idea can be used across all parts of life. I’m a huge believer in the law of attraction and think it can be a very powerful tool in life and business. Those that know me will know that I am a believer in doing things to the best you can. We started Buttercross Estates with the mindset of providing the best service to both landlords and tenants as we can. We have built a company that delivered a high quality service and guess what? We attracted the high quality landlords and tenants. Those that shared our values and beliefs of being better. Better tenants and better landlords renting through a better system and service.

One simple example is of a 6 bed HMO that we let for a landlord. Below are a couple of photos of an en-suite room the previous agent was advertising at £85 per week.

Belvoir Room 6

Belvoir Room 6 again

After making a few suggestions to the landlord, he put down new carpets throughout, bought new beds and some bedding for the photos. The result was this…

Buttercross Estates Bed 6

We let this room for £110 per week just by turning it into a room you would actually want to live in. Overall, our suggestions and marketing made the landlord an additional £3,300 per year. He’ll also benefit from lower void periods and better quality tenants. He’s now going on to purchase another 4 bed house that we will convert into a high quality 5 bed boutique HMO in Newark.

Next time you’re letting a property just have a think about who it would appeal to. Or who you would want to appeal to. If you want a good tenant, refurbish it and they will come.

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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 £160,000. With a slow down in new properties coming to the market we have seen more properties reduced than come onto the market so we’ve upped the value to £160,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Hill Vue Gardens, Newark, NG24 1PH
Type: 3 Bedroom Detached Bungalow
Asking Price: £160,000
Estate Agent: Tanners
Condition: Needs a full refurbishment
Rent Range: £700-750 pcm
Yield: 5.63%
Comments: Outrageous price given number 21 sold for £132,000 in the same condition a couple of years back. An example of an estate agent “buying” the business.

Buttercross Best Buy
Address: 26 Hawton Lane, Newark, NG24 4QB
Type: 2 Bedroom Detached Bungalow
Asking Price: £160,000
Estate Agent: Jon Brambles
Condition: Needs a full refurbishment
Rent Range: £725-775 pcm
Yield: 5.81%
Comments: Glad to see this on the market as one of Newark’s long term empty properties. Better location than the one above and more potential for a flip (at the right price).

Address: 1 The Malthouse, Newark, NG24 1LA
Type: 2 Bedroom Duplex Apartment
Asking Price: £145,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £650-700 pcm
Yield: 5.79%
Comments: Excellent use of lighting and a fantastic bathroom. Popular location for professionals.

Address: 15 Heron Way, Balderton, NG24 3DD
Type: 2 Bedroom Semi Detached House
Asking Price: £135,000
Estate Agent: Now Homes
Condition: Ready to rent
Rent Range: £600-650 pcm
Yield: 5.78%
Comments: Might need a new bathroom suite given there is no photo. Semi detached houses are always popular in Balderton. Keep in mind that it was bought for £101,000 in 2013.

Address: 38 Pelham Street, Newark, NG24 4XD
Type: 2 Bedroom Mid Terraced House
Asking Price: £115,950
Estate Agent: Sell It
Condition: Standard
Rent Range: £475-525 pcm
Yield: 5.43%
Comments: Looks fairly well looked after. Having a garage at the rear is a plus. Last registered sale was £96,000 in 2004.

Address: Witham Close, Newark, NG24 2HD
Type: 2 Bedroom Detached House
Asking Price: £140,000
Estate Agent: Jon Brambles
Condition: A little dated
Rent Range: £625-675 pcm
Yield: 5.79%
Comments: Bright and tidy house. Could probably do with a new kitchen to achieve a higher rent. Not a brilliant location.

Address: The Ivies, Farndon Road, Newark, NG24 4SR
Type: 3 Bedroom Terraced House
Asking Price: £160,000
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £700-750 pcm
Yield: 5.62%
Comments: Love the kitchen and bathroom. The bath reminds me of half a Babybell. Guessing that the cameraman was wonky rather than the lounge.

Address: Broome Close, Balderton, NG24 3DE
Type: 3 Bedroom Detached House
Asking Price: £159,950
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £725-775 pcm
Yield: 5.81%
Comments: Huge garden and looks pretty low maintenance. Inside looks neutral and ready to rent. Spot the boggley-eyed donkey.

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… Hatton Gardens, Newark

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This week we are talking about this 2 bedroom terraced house on Hatton Gardens, Newark.

Hatton Gardens is in a great location, just off London Road and within easy reach of the town centre.

It is a popular residential street and in a desirable part of Newark.

This is an end of terrace house so if there are any noisy neighbours, at least you only hear them from one side.

The house appears rather plain but as you move through the photos you will see a few hidden features.

Lamps are a must in any home but I would have definitely hidden the bar socket, talk about a trip hazard.

The photo shows that there is a lovely fireplace hidden under the highly flammable blanket, photos & ornaments.

Into the dining room which has another fireplace. This house has more character hidden away than you initially realise. Loving the kitchen floor tiles as a table top…

The kitchen, or is it a chess board… quite odd to put the black and white tiles partly along the back wall. I would definitely want to take those down, they just don’t make any sense.

The cat is clearly well loved. See if you can spot cat related items in each room. Also the cat is black and white so that could explain the wall tiles.

Upstairs there are 2 double bedrooms and a bathroom. There is no picture of a bathroom but I am guessing it might be black and white.

Outside you have the best of both worlds with a patio area and a grass area.

This is definitely a property that would appeal to couples as well as families. There is certainly enough space for a child and from Hatton Gardens you can walk easily into town and to amenities.

The catchment area school ‘requires improvement’ so this is a drawback to potential tenants with school age children.

It is on the market for £109,950

Typically this type of property would rent out for £495 per month.

Potential yield of 5.4%

The last 3 sales on Hatton Gardens were:

£93,000 in March 2013
£108,000 in December 2014
£95,000 in January 2016

The Estate Agent is Haart Newark 01636 703141

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