• Type: 3 bed semi-detached property
• Asking price: £150,000
• Tenure: Freehold
• Refurbishment Required: Yes (£20,000)
• Sourcing Fee: £3000 plus vat
• Estimated Rental: £875pcm
• Estimated gross rental yield: 6.2% (after renovation)
• Estimated capital appreciation: 6.5% per annum
A fantastic opportunity to purchase a spacious and desirable three bedroom property in Denton, Manchester.
Currently being offered 'off-market' exclusively to Portfolio8 investors, this spacious property offers a desirable corner plot, with large garden to the rear. The property will prove hugely popular with young families, with the local primary school being located directly across the road.
The property is a three bedroom semi-detached property with a large garden to the rear. It is currently in need of an extensive renovation throughout, however on completion we would estimate the valuation to be approximately £185,000 - £190,000.
For more information on the refurbishment cost and inclusions, speak to a member of the Portfolio8 team today.
In brief, the accommodation comprises: entrance hallway, lounge, diner, kitchen, three bedrooms, family bathroom.
The location of the property is highly desirable, with an array of local amenities within easy walking distance of the property.
|Investment - Summary|
|Estimated Rental Income (pcm)||£875.00|
|Annual Rental Income||£10,500.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£37,500.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£62,100.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£875.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£105.00|
|Mortgage Costs (assumed 4% interest only mortgage)||£375.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£480.00|
|Net Return On Capital Employed||7.63%|