Type: 2 bed terrace
Asking price: £105,000
Refurbishment Required: Yes - £19,000
Estimated Rental: £725pcm
Estimated gross rental yield: 9.05%
Sourcing Fee: £3000 plus vat
Portfolio8 are delighted to offer this off-market, BMV, two bedroom investment opportunity!
Located on an extremely popular street in Audenshaw, Tameside, the Portfolio8 team have already successfully sourced multiple properties on this street and surrounding roads. With rental amounts on the rise, the rental figures on these two bedroom homes have risen sharply in recent months and now obtain £675pcm in good condition.
The property does require a degree of improvement but once complete, this property will be very attractive on both the lettings and resale market. Speak to a member of the Portfolio8 team today for more information on the refurbishment costs.
Located next to the highly regarded Audenshaw School and with Poplar Primary School just over the road, the area is exceptionally popular among tenants. There are regular bus routes along both the adjacent Stamford Road and Corporation Road, whilst Guide Bridge Train Station is just 4 minutes away from the property.
Could this be your next investment property?
|Investment - Summary|
|Estimated Rental Income (pcm)||£725.00|
|Annual Rental Income||£8,700.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£26,250.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£49,850.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£725.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£87.00|
|Mortgage Costs (assumed 4% interest only mortgage)||£262.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£349.00|
|Net Return On Capital Employed||9.05%|