Monmouth, NP25 3LE | Investment Property for Sale | VES-NP25-001

Opportunity to purchase a mid terraced freehold in Monmouth, Wales generating a gross yield of 5.7%

£135,000

Mid-Terrace House

VES-NP25-001

INITIAL INVESTMENT

£61,650

GROSS RENT / YIELD

£7,680 / 5.7%

NET RENT / YIELD

£5,899 / 4.4%

ADD TO FAVOURITES

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The property

TENANCY

Tenanted

TENURE

Freehold

3 bedrooms

1 bathroom

1 reception room

773

Unfurnished

Property information

  • Spread over 2 floors
  • Open plan lounge/dining area
  • Kitchen leads out into the garden
  • EPC rating D
  • Property has been redecorated in the last 5 years, see below for details
  • Property is occupied by a family and been living at the property for over 5 years
  • Property is unfurnished with the exception of a cooker which was supplied by the current landlord

Redecoration information

  • Installed new boiler
  • Installed double glazing throughout and the front door

Note

  • Property is achiving market rent and has been recently reviewed and increased.
  • Landlord anticipates that rents are likely to continue to rise as demand in the area is strong.

Market Insight

Sales

  • Property prices in NP25 are on average £253,291 increasing 22%. Prices can range from £95,260 for a 1-bed flat to £522,750 for a 5-bed detached property.
  • In the last tweleve months, on average there has been 19 property sales each month (7,681 dwellings in the area in total)
  • Market activity suggests that 53% are homeowners and a property can take on average 61 days to sell, but in some cases that can increase to 174.

Rents

  • Rents in NP25 are £708pcm and on average there are 35 new listings published each month (+50% over the last 5 years)
  • Gross yield in the area is 4.5% which has increased by 17% since November 15.
  • This property is achieving a gross yield of 5.7% which is 24% higher than the local area.

Tenancy

RENT

£7,680 p.a. / £640 pcm

TENANCY DEPOSIT

£855

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

over 5 years ago

TENANCY AGREEMENT ENDS

6/30/2020

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

Financials

VIEW FINANCIALS WITH

Personalise the financials

Edit our market average financial assumptions to see every property using your financial strategy.

Sign In or Sign Up

 to edit financials 

>

Rental Income

GROSS RENT PER ANNUM

£7,680

Equivalent of £640 per calendar month (PCM).

GROSS RENTAL YIELD

5.7%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£5,899

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.4%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£1,781

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Monmouth, Wales

Monmouth is a historic county town of Monmouthshire in Wales and was named one of the best places to live in Wales in 2017 by The Sunday Times. It lies within 2 miles of the border with England and is about 30 miles northeast of Cardiff and 113 miles west of London.

The A40 passes by the town and links it to the M4 motorway at Newport and to the M50 motorway at Ross-on-Wye, which then turns into the M5 motorway. The M4 goes all the way to London, whilst the M5 links it to the Midlands and the South West of England.

Monmouth itself does not have a railway station anymore. The closest station is in Abergavenny, which is about 16 miles to the west. Abergavenny railway station is on the Welsh Marshes Line going from Newport to Hereford.

The town has been a centre for tourism since 1780 due to its close proximity to the Forest of Dean and the Wye Valley offering a variety of outdoor pursuits. There is a footpath going through the town, Offa’s Dyke Path, which starts in Chepstow and leads all the way to North Wales, as well as the Wye Valley Walk. Both are very popular with walkers.

Tourism is worth more than £204.43M to Monmouthshire’s economy and rising year on year. In 2017 Monmouthshire received more than 2.3M visitors, supporting 2,968 full time jobs in the county

Some of the local tourist attractions in town include Monmouth Castle, Monmouth Museum and Nelson Garden. Monmouth is also home to the Savoy Theatre, believed to be the oldest working theatre in Wales. The Monmouth Festival takes place every year over 9 days and was started in 1982. It is a fee music festival and one of the largest free music festivals in Europe attracting visitors from all over the world.

Most of Monmouth is now a centre for service industries and tourism, however, due to it’s good road connections to the West Midlands, South Wales and Bristol, it has also become a commuter town for a number of locals. There is 5,030 local businesses in the area and is ranked as the most vibrant economy in Wales in Grant Thornton’s Vibrant Economy Index (2018).

Monmouthshire was identified as part of the South Wales Top Five UK Tech Clusters in a Tech City UK report (2015). Monmouthshire is also known as the Food Capital of Wales not only because of the fantastic food and drink that is available in the county but also because of their award winning restaurants and tea rooms and annual Abergavenny Food Festival.

Monmouthshire council are planning to deliver economic growth by aiming to create 2,900 jobs by 2037 through improving underperforming sectors and productivity to order to match UK economic growth. This initiave is expected in increase the population by 20,000 (21%) and will also look to will include further strategies for the provision of extra land for housing – including a new settlement.

Property Market

  • House prices in the county were 6.1 per cent higher in the months October to December 2018 than they had been 12 months earlier, with the average house price in Monmouthshire is now estimated to be £254,306. Prices range depending on property type and size from £107,329 for a 1-bedroom flat to £518,167 for a 5-bedroom detached property.
  • Rents in the area are £705pcm (+1% in the last 12 months) and range from £495 for a 1-bedroom flat to £1,654 for a 5-bedroom detached property.
  • Momouthshire and nearby Newport have seen house prices grow in recent years in part due to the expansion of the Bristol commuter belt with the bridge fees being abolished.
  • One in five houses bought last year in Monmouthshire were purchased as second homes or properties to rent out, figures show (2018). Around 390 were bought in the financial year 2017-18, with a combined value of £97 million, up 26% from the year before demonstrating growth in the buy-to-let market.

Tudor Road,

Wyesham,

Monmouth,

Monmouthshire,

Wales,

NP25 3LE

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2019 Vesta Global Limited. All rights reserved.