A second class property (5)

I believe the answer is:

asset

'property' is the definition.
(asset can mean an item of property)

'a second class' is the wordplay.
'second' becomes 's' (common abbreviation).
'class' becomes 'set' (I've seen this before).
'a'+'s'+'set'='ASSET'

(Other definitions for asset that I've seen before include "Resource; advantage" , "one liable to be stripped?" , "A possession of some value" , "Item well worth having" , "Something useful" .)

I've seen this clue in The Times and The Sun.

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