Type: 2 bed terrace
Asking price: £115,000
Status: Vacant upon completion
Refurbishment Required: No
Estimated Rental: £725pcm
Estimated gross rental yield: 7.57%
Estimated capital appreciation: 6% per annum
EPC rating: D
Sourcing Fee: £3,000
This well-presented, two bedroom terraced home with off-road parking, two reception rooms and good size garden offers investors a great opportunity to purchase a reasonably priced property in an are of Worsley that is seeing a huge increase in demand and prices.
The Portfolio8 team already let and managed two other properties on the same road at £725pcm, however these do not have off-road parking, so we would be happy to aim for £750pcm due to this.
Well-positioned for local amenities, transport links and some great schools, properties here are in high demand from tenants.
To find out more about the property and location, speak to one of the Portfolio8 team today!
|Investment - Summary|
|Estimated Rental Income (pcm)||£725.00|
|Annual Rental Income||£8,700.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£28,750.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£33,350.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£725.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£79.75|
|Mortgage Costs (assumed 4% interest only mortgage)||£287.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£366.75|
|Net Return On Capital Employed||12.89%|