- Type: 2 bed terrace
- Asking price: £94,000
- Tenure: Good leasehold
- Status: Tenanted at £550 per month
- Refurbishment required: No
- Gross rental yield: 7.02%
- Estimated capital growth: 6% per annum
- Sourcing fee: £3,000 plus vat
Recently refurbished, rewire, central heating, new kitchen and modern decor throughout. High ceilings and plenty of natural light.
Extremely popular area among tenants as there are plentiful amenities, bus links and motorway networks nearby. Fantastic opportunity to purchase a below market value property with a tenant in-situ so that you can commence earning from day one and enjoy future capital appreciation.
This area of Oldham has seen significant price growth in recent years with the market still growing consistenty. We have many comparable properties to share with you over £100,000 which require refurbishment, making this property a fantastic opportunity for clients looking to purchase a buy to let property in Oldham.
| Investment - Summary | |
| Guide Price | £94,000.00 |
| Estimated Rental Income (pcm) | £550.00 |
| Annual Rental Income | £6,600.00 |
| Investment - Cost Breakdown (Assumed 75% LTV mortgage) | |
| Deposit Amount (25%) | £23,500.00 |
| Solicitor Fees (approx. £1,000) | £1,000.00 |
| Sourcing Fee (£3,000.00 plus VAT) | £3,600.00 |
| Refurbishment Costs: | £0.00 |
| Total Approx. Costs: | £28,100.00 |
| Investment - Cash Flow (Assumed 75% LTV mortage) | |
| Gross Revenue Per Month: | £550.00 |
| Minus Costs | |
| Lettings Fee - 10% plus VAT (fully managed by Portfolio8) | £66.00 |
| Mortgage Costs (assumed 4% interest only mortgage) | £235.00 |
| Service Charge Per Year | £0.00 |
| Ground Rent | £0.00 |
| Total Costs (per month) | £301.00 |
| Total Income | £550.00 |
| Total Costs | £301.00 |
| Net | £249.00 |
| Net Return On Capital Employed | 10.63% |
