• Type: 3 bed terraced
• Asking price: £140,000
• Tenure: Informed to be Freehold
• Refurbishment Required: Yes
• Sourcing Fee: £3000 plus vat
• Estimated Rental: £775pcm
• Estimated gross rental yield: 6.64%
• Estimated capital appreciation: 6.5% per annum
The Portfolio8 team are dleighted to present an off-market investment opportunity in a sought after area of Manchester!
Located just a 2 minute walk from Edge Lane Metrolink stop where regular trams travel into Manchester City Centre in only 14 minutes. This three bedroom terraced home is ideal for professionals and commuters.
Given the popular location, these types of properties always sell incredibly quickly! Offered to investors off-market for a short period of time, do not hesitate to enquire.
The property requires a degree of light refurbishment, and the Portfolio8 team can assist with this and the subsequent letting and management for you. Whilst we have placed the rental figure at £775pcm, once refurbished, we would be happy to market the property at £800pcm.
In addition to the rental yield, the area is tipped to enjoy healthy capital appreciation.
For more information on this investment opportunity, speak to a member of the Portfolio8 team today!
|Investment - Summary|
|Estimated Rental Income (pcm)||£775.00|
|Annual Rental Income||£9,300.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£35,000.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£45,600.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£775.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£93.00|
|Mortgage Costs (assumed 4% interest only mortgage)||£350.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£443.00|
|Net Return On Capital Employed||8.74%|