Oldham, OL8, Oldham (Centre)


Property Details

  • Price: £90,000.00
  • Location: Oldham (Centre)
  • Region: Oldham
  • Country: Manchester
  • Reference: BELG-PORT8
Oldham, OL8

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.

Video - Oldham, OL8

Return on Investment

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 Employed8.28%

Image Gallery - Oldham, OL8

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Portfolio8 - Property Investment