These properties very rarely come up for sale or rent as the area is very sought after. Normally people get in these properties and don’t move out. The location is idyllic and this one, on the market with Abbotts in Chelmsford, looks like it has been much improved. It has come to the market for £180,000.
We rented a similar property in the block last year, not in as good condition as this one for £750. Now being a year on and with this one being lovely inside, I would expect this to achieve £800 pcm easily.
For the purpose of working out returns etc on these initial figures, this should generate at least a yield of 5.3%.
Writtle is a very popular village and people specifically wait for properties to come up in the area, you wouldn’t have any issues in finding a tenant for a property like this.
If you have any questions regarding investing in the Chelmsford area, give me a call on 01245 330500 or drop me an e-mail stephen.frost@martinco.com
