Skip to content
Buy
Property for sale New homes for sale Property valuation Investors Mortgages
Rent
Property to rent Student property to rent
Find Agent
Find estate agents
House prices
Sold house prices Instant online valuation
Commercial
Commercial property to rent Commercial property for sale Advertise
Inspire
Moving stories Property news Energy efficiency Property guides Housing trends Overseas blog Mortgage guides
Overseas
All countries Spain France Portugal Italy Greece Currency Sell Overseas property

Penny Close, Rainham, Havering, London, RM13

Key features

  • Buy-to-let investment property
  • One bedroom flat
  • Current net yield: 7.5%
  • Being sold witht the tenants in situ
  • Strong rental income £1,300pcm
  • Tenure: Share of the freehold

Description

Property Overview
Introducing a well-presented one-bedroom first floor flat situated in the quiet and desirable cul de sac of Penny Close, Rainham. This property offers comfortable living with modern conveniences, making it an ideal purchase for a buy to let investor seeking a strong and reliable rental return.
The flat benefits from:
* Share of Freehold
* Gas Central Heating
* Double Glazing Throughout
* Communal Garden
* Quiet Residential Location
________________________________________
Accommodation
The flat is arranged on the first floor and features:
Spacious Living Room
Bright and airy with double glazed windows providing excellent natural light.
Fitted Kitchen
Well-designed layout with ample storage and worktop space.
Double Bedroom
Comfortable proportions with views toward the communal garden.
Bathroom
A clean, functional suite with bath and shower facilities.
________________________________________
Lease & Freehold Details
* Share of Freehold - the purchaser becomes part-owner of the freehold along with the other residents.
* Current Lease Term: 87 years remaining.
* Lease Extension: The current owner is in the process of extending or providing a quotation for this; following this, the lease will be extended at an agreed internal rate for all leaseholders.
This gives the incoming buyer excellent long term security and value.
________________________________________
Outgoings
* Service Charges: £170 per calendar month
(Covers maintenance of the estate, communal areas, and building insurance)
________________________________________
Rental & Investment Information
* Current Rental Income: £1,300 per calendar month
* Annual Gross Income: £15,600
Gross Yield Calculation
Purchase Price: £180,000
Annual Rent: £15,600
Gross Yield: 8.66% Gross Yield (approx.)
Outgoing Costs: £2,040 per annum
Net Income: £13,560 per annum
Net Yield: 7.5%
This is an exceptionally strong yield for the Rainham area, making it attractive to buy to let investors seeking above average returns in a stable residential location.
________________________________________
Location
Penny Close is a well-maintained residential cul de sac conveniently located for:
* Rainham C2C Station (easy access to London Fenchurch Street)
* Local shops and amenities
* Schools and green open spaces
* Quick access to the A13 and A1306
________________________________________
Summary
4 Penny Close offers an excellent combination of value, yield, and long term security through its share of freehold. With modern conveniences, strong rental income, and potential for lease extension on favourable terms, this flat represents an outstanding opportunity for both homebuyers and investors.
________________________________________
LET PURE INVESTOR TAKE THE STRAIN AWAY ...
We offer a comprehensive lettings and property management service, ensuring our landlords benefit from a single point of contact for their entire portfolio. From London to Lancaster, from Cardiff to Colchester, we provide a fully managed service for landlords looking to minimise costs and maximise efficiency.
* Fully managed lettings and property management service
* Comprehensive coverage throughout England and Wales
* One team, one fee across your full portfolio
* Rental income protection available
* Transfer your existing properties quickly and easily
If you would like to find out more about our lettings and property management service, or discover how much we could save you each month, please contact our team on Tel:
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
Ask agent
PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
Ask agent
GARDENA property has access to an outdoor space, which could be private or shared.
Ask agent
ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
Ask agent

Energy performance certificate - ask agent

Penny Close, Rainham, Havering, London, RM13

Approximate location
Open mapStreet View

Add an important place to see how long it'd take to get there from our property listings.

__mins driving to your place

Check how much you can borrow

Get an instant, personalised result:

  • Show sellers you’re serious
  • Secure viewings faster with agents
  • No impact on your credit score
Get a Mortgage in PrinciplePowered bynationwideThe Nationwide Logo represents a symbol of financial strength and community, empowering members to achieve their goals
Recently sold & under offer
See similar nearby properties

About Pure, Manchester

The Lightwell, 61-63 Brown Street Manchester M2 2JG

Having sold investment properties for almost 14 years, Pure Investor is today one of the most established and recognisable property investment consultancies in the UK. Our commitment to the very highest levels of customer service has resulted in Pure Investor now being rated 4.9 out of 5.0 'Excellent' on Trustpilot.

Thinking Of Investing In Property In The UK?

We offer one of the UK widest portfolio's of investment properties available. From traditional, residential buy-to-let properties and purpose built student accommodation, through to market leading off-plan developments in locations including Manchester, London, Birmingham and many more destinations throughout the UK.

Our focus is genuinely consultative, and regardless of whether you're a first time property investor or an institution, we aim to assist our clients in achieving their long term investment goals through property. Many of our client have worked with Pure Investor for many years, both purchasing and selling their investment properties through us.

Thinking Of Selling?

We're one of the UK's leading providers of tenanted buy-to-let properties, and as such if you are considering selling your investment property, but are not sure how to sell with tenants in situ, why not contact our team today to find out about our specialist resales service? We have a global network of property investors who are proactive in purchasing tenanted properties to add to their current portfolios.

Thinking Of Renting Your Property Out?

We have one of the regions fastest growing lettings portfolios, and our full service property management and lettings service is specifically designed to cater for the demands of more established landlords operating throughout the North West of England.

Regardless of whether you are looking to invest in property, or sell your buy-to-let, why not give our team of experienced property consultants a call today to find out more about our services?

We look forward to speaking with you!

Affordability

Monthly repayments£821
Property: £ 180,000
Deposit: £ 18,000
Interest rate: 4.5%
Term: 30 years
Powered bynationwideThe Nationwide Logo represents a symbol of financial strength and community, empowering members to achieve their goals
These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Notes

These notes are private, only you can see them.

Staying secure when looking for property

Ensure you're up to date with our latest advice on how to avoid fraud or scams when looking for property online.

Visit our security centre to find out more

Disclaimer - Property reference Penny-Close-Rainham. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Pure, Manchester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

Map data ©OpenStreetMap contributors.

Email agent

Call agent

Email agent