Droylsden, Manchester, M43, Droylsden


Property Details

  • Price: £110,000.00
  • Location: Droylsden
  • Region: Tameside
  • Country: Manchester
  • Reference: BRIAR-PORT8
Droylsden, Manchester, M43

• Type: 3 bed terrace with loft room
• Asking price: £110,000
• Tenure: Freehold
• Refurbishment Required: Yes
• Sourcing Fee: £3000 plus vat
• Estimated Rental: £825pcm
• Estimated gross rental yield: 9%
• Estimated capital appreciation: 6.5% per annum

A fantastic opportunity to purchase a below market value house in a sought after area of Droylsden, Manchester!

Offered to investors exclusively via Portfolio8, this off market property offers high rental yields coupled with around £20,000 of equity in the property once refurbished.

The property is a three bedroom home with loft room, off-road parking and private rear garden. Refurbishment is required, and we have already visited with a builder for a fixed quote for all the works required. 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, kitchen/diner, three bedrooms, family bathroom and a loft room with skylights and central heating.

The location of the property is highly sought after due to its close proximity to good schools, transport links and many amenities. Edge Lane Metrolink is just 5 minutes from the property where regular trams go to Manchester City Centre in around 10 minutes.

With a resale value expected to be £150,000 once refurbished and a monthly rental of £825pcm, this off market opportunity could be a great addition to your portfolio.

Video - Droylsden, Manchester, M43

Return on Investment

Investment - Summary
Guide Price£110,000.00
Estimated Rental Income (pcm)£825.00
Annual Rental Income£9,900.00
Investment - Cost Breakdown (Assumed 75% LTV mortgage)
Deposit Amount (25%)£27,500.00
Solicitor Fees (approx. £1,000)£1,000.00
Sourcing Fee (£3,000.00 plus VAT)£3,600.00
Refurbishment Costs:£19,500.00
Total Approx. Costs:£51,600.00
Investment - Cash Flow (Assumed 75% LTV mortage)
Gross Revenue Per Month:£825.00
Minus Costs
Lettings Fee - 10% plus VAT (fully managed by Portfolio8)£99.00
Mortgage Costs (assumed 4% interest only mortgage)£275.00
Service Charge Per Year£0.00
Ground Rent£0.00
Total Costs (per month)£374.00
Total Income£825.00
Total Costs£374.00
Net£451.00
Net Return On Capital Employed10.49%

Image Gallery - Droylsden, Manchester, M43

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Floor plan   BRIA PORT8.JPG
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Portfolio8 - Property Investment