Type: 3 bed terrace
Asking price: Offers over £90,000
Estimated market value: £125,000 once refurbished
Status: Vacant
Refurbishment Required: Yes
Estimated Rental: £625pcm once refurbished
Estimated gross rental yield: 8.33%
Sourcing Fee: £3000 plus vat
The Portfolio8 team are pleased to showcase this below market value, off-market opportunity!
This spacious three bedroom terraced home is located in the popular Hathershaw area of Oldham on the Ashton-under-Lyne border. Whilst the property does require a degree of refurbishment, there is plenty of scope to add value and enjoy good rental yields.
The property next door is currently for sale on the open market in a similar condition for £115,000! As you can see, this is considerably more than the opportunity via Portfolio8.
Located close to a wealth of amenities, transport links and schools, the area is very popular among tenants.
We have visited the property with a builder and have a full quote for the remedial works. Please contact a member of the Portfolio8 team today for more information.
| Investment - Summary | |
| Guide Price | £90,000.00 |
| Estimated Rental Income (pcm) | £625.00 |
| Annual Rental Income | £7,500.00 |
| Investment - Cost Breakdown (Assumed 75% LTV mortgage) | |
| Deposit Amount (25%) | £22,500.00 |
| 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: | £47,100.00 |
| Investment - Cash Flow (Assumed 75% LTV mortage) | |
| Gross Revenue Per Month: | £625.00 |
| Minus Costs | |
| Lettings Fee - 10% plus VAT (fully managed by Portfolio8) | £75.00 |
| Mortgage Costs (assumed 4% interest only mortgage) | £225.00 |
| Service Charge Per Year | £0.00 |
| Ground Rent | £0.00 |
| Total Costs (per month) | £300.00 |
| Total Income | £625.00 |
| Total Costs | £300.00 |
| Net | £325.00 |
| Net Return On Capital Employed | 8.28% |
