Denton, Manchester, M34, Denton

Property Details

  • Price: £115,000.00
  • Location: Denton
  • Region: Tameside
  • Country: Manchester
  • Reference: CATH19-PORT8
Denton, Manchester, M34

• Type: 2 bed terrace
• Asking price: £115,000
• Tenure: Old style leasehold, 990 years from 1909. £2.50 per year ground rent
• Refurbishment Required: Yes
• Sourcing Fee: £3000 plus vat
• Estimated Rental: £675pcm
• Estimated gross rental yield: 7.04%
• Estimated capital appreciation: 6.5% per annum

Portfolio8 are delighted to offer to the market this two bedroom mid terraced property on Catherine Street East, Denton, well located to all motorway links and local amenities. Perfect property for landlords seeking to add to their existing portfolios as well. After minor refurbishment, similar properties in the area attract £675 per calendar month when let on an unfurnished basis bringing in a 7.04% gross yield (if purchased at £115,000).

For more information on the refurbishment works required, speak to a member of the Portfolio8 team today.

Video - Denton, Manchester, M34

Return on Investment

Investment - Summary
Guide Price£115,000.00
Estimated Rental Income (pcm)£675.00
Annual Rental Income£8,100.00
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
Refurbishment Costs:£8,500.00
Total Approx. Costs:£41,850.00
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)£287.00
Service Charge Per Year£0.00
Ground Rent£0.00
Total Costs (per month)£368.00
Total Income£675.00
Total Costs£368.00
Net Return On Capital Employed8.80%

Image Gallery - Denton, Manchester, M34

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Portfolio8 - Property Investment