Type: 2 bed terrace
Asking price: £100,000
Status: Vacant upon completion
Refurbishment Required: Yes
Estimated Rental: £675
Estimated gross rental yield: 8.10%
Estimated capital appreciation: 6% per annum
Sourcing Fee: £3000 plus VAT
Set back from the road with a large front garden including a driveway for multiple vehicles, the property is sure to be popular among tenants. There are regular bus routes, easy access to the M60 motorway, great schools and a wealth of amenities nearby.
Offered below market value, the property is expected to have a value of £130,000 in the current market and once updated internally.
The area is seeing a huge surge in demand due its close proximity to Worsley where prices are much higher - could this property be the next addition to your portfolio?
Speak to one of the Portfolio8 team today for more information on this property.
|Investment - Summary|
|Estimated Rental Income (pcm)||£675.00|
|Annual Rental Income||£8,100.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£25,000.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£39,600.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£675.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£81.00|
|Mortgage Costs (assumed 4% interest only mortgage)||£250.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£331.00|
|Net Return On Capital Employed||10.42%|