Type: 3 bed terrace
Asking price: Offers over £90,000
Estimated market value: £125,000 once refurbished
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|
|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|
|Total Approx. Costs:||£47,100.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£625.00|
|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|
|Total Costs (per month)||£300.00|
|Net Return On Capital Employed||8.28%|