Type: 2 bed terrace
Asking price: £100,000
Status: Vacant upon completion
Tenure: Freehold
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 | |
| Guide Price | £100,000.00 |
| 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 |
| Refurbishment Costs: | £10,000.00 |
| Total Approx. Costs: | £39,600.00 |
| Investment - Cash Flow (Assumed 75% LTV mortage) | |
| Gross Revenue Per Month: | £675.00 |
| Minus Costs | |
| 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 |
| Ground Rent | £0.00 |
| Total Costs (per month) | £331.00 |
| Total Income | £675.00 |
| Total Costs | £331.00 |
| Net | £344.00 |
| Net Return On Capital Employed | 10.42% |
