Oldham, OL4, Oldham (Centre)

Property Details

  • Price: £75,000.00
  • Location: Oldham (Centre)
  • Region: Oldham
  • Country: Manchester
  • Reference: SWIN-PORT8
Oldham, OL4

Type: 2 bed end terrace
Asking price: £75,000
Estimated market value: £110,000 once refurbished
Status: Vacant
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.

Video - Oldham, OL4

Return on Investment

Investment - Summary
Guide Price£75,000.00
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
Refurbishment Costs:£20,000.00
Total Approx. Costs:£43,350.00
Investment - Cash Flow (Assumed 75% LTV mortage)
Gross Revenue Per Month:£600.00
Minus Costs
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
Ground Rent£0.00
Total Costs (per month)£259.00
Total Income£600.00
Total Costs£259.00
Net Return On Capital Employed9.44%

Image Gallery - Oldham, OL4

Portfolio8 - Property Investment