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

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Another chilly day in Newark and another week of properties to poke around! We’ve got 8 new potential investments this week from £120k to £150k in various styles and locations. I’ve added some comments and given you an idea of what you can expect rent wise if you go for it.

Address: Clarks Lane, Newark, NG24 2EF
Asking Price: £140,000
Property Type: 3 Bed Semi Detached House
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Good little house, the garage has been removed for additional living space and good spot tenants working at Knowhow and NSK. Just note that properties in this area take longer to rent than others.

Address: 2 Friary Rd, Newark NG24 1LE
Asking Price: £150,000
Property Type: 3 Bedroom Terrace
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £545-595pcm
Yield: 4.76%
Comments: Really well presented house with no work required, lack of parking may put tenants off and the same with the downstairs bathroom. EPC E so bare in mind that regulations may change so you’ll need to spend money.

Address: Warwick Brewery, The Cavalier Building, Newark, NG24 1TL
Asking Price: £135,000
Property Type: 2 Bedroom First Floor Duplex Apartment
Estate Agent: Belvoir!
Condition: Minor Work
Service Charge: TBC
Rent Range: £600-650pcm
Yield: 5.77% (exc service and maintenance charges)
Comments: Popular apartment block, no work required but the electric heating isn’t for everyone. Service and maintenance charges are often around £1k here so check before committing.

Address: 36 Pinfold Lane Balderton, Newark NG24 3LP
Asking Price: £125,000
Property Type: 3 Bedroom Mid Terrace
Estate Agent: Richard Watkinson & Partners
Condition: Minor Work
Rent Range: £525-575pcm
Yield: 5.52%
Comments: A bit vanilla, pretty spacious but just not overly inspiring. Busy road with minimal parking. Lose the blue tiles in the kitchen, paint the woodwork white in the dining room if nowhere else to make it lighter (no window!). Could rent as is for £525pcm but you’ll get better and longer tenants if you spruce it up.

Buttercross Best Buy
Address: 2 Dovedale Terrace, Fernwood, Newark, NG24 3UU
Asking Price: £122,950
Property Type: 2 Bedroom Mid Terrace House
Estate Agent: Newton & Fallowell and Haart
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.61%
Comments: On with two agents, someone’s keen to get rid! They’ve only been in since March last year..hopefully it’s not bad neighbours. Bought for £117,500, it’s not changed aside from the master bedroom; we let the same property style on Rubys Walk last year for £575pcm.

Address: 6 Whitfield Street,Newark NG24 1QX
Asking Price: £120,000
Property Type: 2 Bedroom Terrace
Estate Agent: The Nottingham Estate Agency
Condition: Neutralise!
Rent Range: £500-550pcm
Yield: 5.5%
Comments: Purchased for £109k in 2015, no previous photos of the bathroom but it looks pretty new along with a bit of paint and marvel wallpaper! Big marvel fan but i’d suggest losing it and maybe update those kitchen tiles if you can. Seems cheap, last couple of two beds have sold for £132,500 and £120k in lesser condition.

Address: Apartment 301, The Tankard Building, Warwick Brewery, Newark, NG24 1TL
Asking Price: £130,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Service Charge: £949.24 PA
Maintenance Charge: £100 PA
Rent Range: £600-650pcm
Yield: 5.95%%
Comments: Same as above, popular area and allocated parking. Good location for the train station. Honestly, i think the apartment above has a more appealing layout and is lighter.

Address: Charles Street, Newark, NG24 1RL
Asking Price: £125,000
Property Type: 2 Bed Mid Terrace House
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Small! It looks very cramped but that could just be the size of furniture, the kitchen is so small and will put tenants off even though it’s modern. Tone down the wallpaper throughout.

So that’s this weeks selection, a couple of good potentialy 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 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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