Type: 2 bed end terrace
Asking price: £75,000
Estimated market value: £110,000 once refurbished
Refurbishment Required: Yes
Estimated Rental: £600pcm once refurbished
Estimated gross rental yield: 7.58% once refurbished
Sourcing Fee: £3000 plus vat
The Portfolio8 team are delighted to offer this below market value, two double bedroom end terrace home in a quiet and popular area of Oldham.
Offering savvy investors the opportunity to add value to the property, refurbishment is required and we have already received a full quote for the works from a builder. Speak to a member of the Portfolio8 team today for more details.
In brief, the accommodation comprises: lounge, kitchen/diner, two double bedrooms and a family bathroom. There is a walled garden to the front aspect and a good size rear yard.
Located close to plentiful amenities, transport links, Oldham University and Oldham Town Centre where the Metrolink runs regularly to Manchester City Centre.
|Investment - Summary|
|Estimated Rental Income (pcm)||£600.00|
|Annual Rental Income||£7,200.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£18,750.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£43,350.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£600.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£72.00|
|Mortgage Costs (assumed 4% interest only mortgage)||£187.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£259.00|
|Net Return On Capital Employed||9.44%|