On the market with local estate agents Charles Peck, this two bedroom house in St James Road would require extensive updating and upgrading. However, with an asking price of £195,000, this property certainly offers a lot of scope for a margin.
http://www.rightmove.co.uk/property-for-sale/property-52138802.html
In terms of resale, a modern, two bedroom house in this area could fetch up to £225,000.
If you were to go down the lettings route, you would be looking at £850pcm, which, assuming a combined purchase and refurbishment price of, say £210,000, could net a landlord a gross yield of 4.8% (plus some equity!!)
With all properties of this nature, a full structural survey is advisable, which can cost in the region of £750-£1500.
Properties such as this in Chichester seldom come to the market so I wouldn't expect this opportunity to be around for long.
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