2 Bed Flat, Refurb/BRRR, Oldham, OL4 5QY, £380,000

Station Lane, Grotton, Saddleworth, OL4 5QY - 10 months ago

Sold STC
Leasehold
Refurb/BRRR
~68 m²
+29 photos

ValuationOvervalued

Sold Prices£75K - £255K
Sold Prices/m²£1.2K/m² - £3.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£5.6K/m²

Value Estimate

£145,827

 

 

End Value (After Refurb)

£355,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£95,000

Stamp Duty & Legal Fees

£19,100

Refurb Costs

£28,709

Bridging Loan Interest

£9,975

Total Cash In

£154,534

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£355,000

Mortgage (After Refinance)

£266,250

Mortgage LTV

75%

Cash Left In

£154,534

Equity

£88,750

Rent Range

£700 - £1,100

Rent Estimate

£876

Running Costs/mo

£1,305

Cashflow/mo

£-429

Cashflow/yr

£-5,143

Gross Yield

3%

Local Sold Prices

21 sold prices from £75K to £255K, average is £142.5K. £1.2K/m² to £3.3K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£255K11/230.11 mi5b, Thornlee Court, Grotton, Oldham, Greater Manchester OL4 5RG2
£142.5K08/210.29 miFlat 10, Badgers Rake, Oldham Road, Springhead, Oldham, Greater Manchester OL4 5TY2
£142.5K08/210.29 miFlat 10, Badgers Rake, Oldham Road, Springhead, Oldham, Greater Manchester OL4 5TY2
£158K09/210.29 miFlat 25, Badgers Rake, Oldham Road, Springhead, Oldham, Greater Manchester OL4 5TY2
£159.4K02/220.29 miFlat 10, Badgers Rake, Oldham Road, Springhead, Oldham, Greater Manchester OL4 5TY2
£158K02/240.29 miBadgers Rake, Flat 27, Oldham Road, Springhead, Oldham, Greater Manchester OL4 5TY2
£156K08/230.29 miFlat 5, Badgers Rake, Oldham Road, Springhead, Oldham, Greater Manchester OL4 5TY2
£150K02/220.29 miFlat 24, Badgers Rake, Oldham Road, Springhead, Oldham, Greater Manchester OL4 5TY2
£155K07/220.34 mi5, Rex Court, Grotton, Oldham, Greater Manchester OL4 4LB2
£219K11/230.34 mi2, Rex Court, Grotton, Oldham, Greater Manchester OL4 4LB2
£160K12/230.51 miFlat 4, Felltop Court, Stockport Road, Lydgate, Oldham, Greater Manchester OL4 4JZ2
£87K01/220.66 mi7, County End Terrace, Oldham, Greater Manchester OL4 5DT2
£200K02/220.69 mi19a, Stonebreaks Road, Springhead, Oldham, Greater Manchester OL4 4BZ2
£115K08/220.71 mi65a, Carr House Road, Springhead, Oldham, Greater Manchester OL4 4NW2
£98.5K10/200.71 mi134, High Street, Lees, Oldham, Greater Manchester OL4 5DJ2
£84K10/210.81 mi69, Brown Edge Road, Oldham, Greater Manchester OL4 5QG2
£130K12/220.83 mi42, Thomas Street, Lees, Oldham, Greater Manchester OL4 5BU2
£75K03/220.88 mi5, Wildmoor Avenue, Oldham, Greater Manchester OL4 5PG2
£133.5K03/240.91 mi757, Huddersfield Road, Austerlands, Oldham, Greater Manchester OL4 3QA2
£125K07/220.91 mi796, Huddersfield Road, Austerlands, Oldham, Greater Manchester OL4 3QB2
£124K04/220.91 mi798, Huddersfield Road, Austerlands, Oldham, Greater Manchester OL4 3QB2

Local Rents

10 rents from £700/mo to £1.1K/mo, average is £873/mo.

RentDateDistanceAddressBeds 
£70012/240.27 mi207 Oldham Road Springhead2
£89506/240.27 mi-2
£89507/240.27 mi-2
£1,00006/240.27 miBrooklands Parade, Saddleworth, OL42
£89512/240.27 miBrooklands Parade, Saddleworth, OL42
£85001/240.37 mi-2
£1,10012/240.49 miCooper Street, Springhead, Oldham, Greater Manchester, OL42
£80006/240.51 mi4, Felltop Court, Lydgate2
£77506/240.59 mi21 Station Street Springhead Oldham2
£85010/230.6 mi-2

Local Area Statistics

Population in OL4

44,247

Population in Oldham

182,174

Town centre distance

2.19 miles away

Nearest school

0.40 miles away

Nearest train station

1.41 miles away

 

 

Rental growth (12m)

+14%

Sales demand

Seller's market

Capital growth (5yrs)

+46%

Property History

Listed for £380,000

May 14, 2024

Floor Plans

Description

  • EVER POPULAR GROTTON +
  • NO CHAIN +
  • SEMI DETACHED DORMER BUNGALOW +
  • STONE BUILT +
  • 2 DOUBLE BEDROOMS +
  • 2 RCEPTION ROOMS +
  • DRIVEWAY & INTEGRAL GARAGE +
  • CONSERVATORY +
  • ATTRACTIVE GARDENS FRONT AND REAR +
  • MODERNISATION REQUIRED +

Situated in sought after Grotton is this spacious semi detached dormer bungalow with attractive gardens and views towards St Anne's Church. Some modernisation required. No onward chain. EPC - D.

A spacious stone built semi detached dormer bungalow situated on a generous plot in sought after Grotton ideal for those looking to downsize.

Viewing comes highly recommended and will reveal an entrance hall, good sized lounge, dining room with sliding patio doors onto the rear garden and shower room fitted with a pink three piece suite comprising deep panelled bath with shower over, pedestal wash hand basin and low level wc.
There is a spacious fitted kitchen with integrated electric oven and hob with access into the conservatory along with utility area and integral garage.
To the first floor is a generous bedroom with a lovely outlook towards St Anne's Church.

The property is gas central heated via a Worcester combination boiler and the windows are uPVC double glazed throughout.

Externally there is a pretty lawn garden to front with driveway parking whilst to the rear there is a flat lawn garden with paved patio and mature borders.

Station Lane is a highly regarded location just off Thornley Lane within easy reach of local amenities and popular schools. The vibrant village of Uppermill is within easy reach with its varied range of shops, cafes, bars and restaurants. Greenfield and Mossley train stations are also close by and the M60 ring road is only 5 miles away for those looking to commute.

Agent Details

Ryder & Dutton, Uppermill

01457 602739

Next Steps?

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