• Type: 3 bed terrace
• Asking price: Offers over £160,000
• Tenure: TBC
• Refurbishment Required: No
• Sourcing Fee: £3000 plus vat
• Estimated Rental: £825pcm
• Estimated gross rental yield: 6.19%
• Estimated capital appreciation: 6.5% per annum
Portfolio8 are delighted to offer this beautifully presented, recently updated, three bedroom home in a popular area of Droyslden, M43.
With an expected rental of £825pcm, this investment property would make a great addition to an existing portfolio, or even your first step onto the investment ladder!
Droylsden has seen huge growth over recent years, rental prices have risen sharply and seasoned landlords are flocking to the area for their piece of the action. There are regular trams to Manchester City Centre, major bus routes and the M60 Motorway is also nearby.
For more information on the property and area, simply contact a member of the Portfolio8 team today!
|Investment - Summary|
|Estimated Rental Income (pcm)||£825.00|
|Annual Rental Income||£9,900.00|
|Investment - Cost Breakdown (Assumed 75% LTV mortgage)|
|Deposit Amount (25%)||£40,000.00|
|Solicitor Fees (approx. £1,000)||£1,000.00|
|Sourcing Fee (£3,000.00 plus VAT)||£3,600.00|
|Total Approx. Costs:||£44,600.00|
|Investment - Cash Flow (Assumed 75% LTV mortage)|
|Gross Revenue Per Month:||£825.00|
|Lettings Fee - 10% plus VAT (fully managed by Portfolio8)||£99.00|
|Mortgage Costs (assumed 4% interest only mortgage)||£400.00|
|Service Charge Per Year||£0.00|
|Total Costs (per month)||£499.00|
|Net Return On Capital Employed||8.77%|