3 Bed Terraced House, Single Let, Manchester, M18 8WG, £170,000

Elsdon Drive, Gorton, Manchester, M18 8WG - 6 views - 9 months ago

Under Offer
BTL
ROI: 6%
~93 m²
+4 photos

ValuationUndervalued

Sold Prices£105K - £240K
Sold Prices/m²£1K/m² - £3.4K/m²

 

 

Square Metres

~93 m²
Price/m²£1.8K/m²

Value Estimate

£180,188
BMV6%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£42,500

Stamp Duty & Legal Fees

£6,300

Total Cash In

£48,800

 

 

Cash Out

 

Rent Range

£950 - £1,700

Rent Estimate

£975

Running Costs/mo

£746

Cashflow/mo

£229

Cashflow/yr

£2,745

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £105K to £240K, average is £162.8K. £1K/m² to £3.4K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£124K10/200.01 mi17, Elsdon Drive, Manchester, Greater Manchester M18 8WG3
£160K03/210.01 mi13, Elsdon Drive, Manchester, Greater Manchester M18 8WG3
£151K02/240.03 mi9, Pinnington Road, Manchester, Greater Manchester M18 8NR3
£155K01/240.05 mi30, Pinnington Road, Manchester, Greater Manchester M18 8WR3
£155K11/200.07 mi229, Chapman Street, Manchester, Greater Manchester M18 8WP3
£166K03/230.09 mi12, Wellesley Avenue, Manchester, Greater Manchester M18 8WJ3
£166K04/230.09 mi212, Chapman Street, Manchester, Greater Manchester M18 8WQ3
£175K02/230.11 mi160, Chapman Street, Manchester, Greater Manchester M18 8LZ3
£163.5K02/210.11 mi78, Longford Street, Manchester, Greater Manchester M18 8GQ3
£145K06/230.11 mi30, Longford Street, Manchester, Greater Manchester M18 8GQ3
£170K10/230.12 mi4, Winfield Drive, Manchester, Greater Manchester M18 8NQ3
£184K08/210.13 mi249, Chapman Street, Manchester, Greater Manchester M18 8NG3
£160K11/210.13 mi36, Carberry Road, Manchester, Greater Manchester M18 8PG3
£178K04/240.13 mi50, Carberry Road, Manchester, Greater Manchester M18 8PG3
£105K10/200.13 mi58, Carberry Road, Manchester, Greater Manchester M18 8PG3
£157K08/230.13 mi5, Walmer Street, Abbey Hey, Manchester, Greater Manchester M18 8QP3
£148K03/230.13 mi18, Walmer Street, Abbey Hey, Manchester, Greater Manchester M18 8QP3
£154K02/210.14 mi138, Chapman Street, Manchester, Greater Manchester M18 8LZ3
£185K02/230.14 mi18, Seddon Avenue, Manchester, Greater Manchester M18 8NW3
£218K01/230.15 mi1, Reynolds Drive, Manchester, Greater Manchester M18 8NJ3
£168K11/230.15 mi5, Welbeck Street, Manchester, Greater Manchester M18 8GW3
£155K11/200.15 mi2, Reynolds Drive, Manchester, Greater Manchester M18 8NJ3
£130K12/200.15 mi17, Welbeck Street, Manchester, Greater Manchester M18 8GW3
£117K11/200.16 mi8, Reed Street, Manchester, Greater Manchester M18 8JT3
£161K02/230.16 mi2, Hawthorn Street, Manchester, Greater Manchester M18 8PT3
£180K09/230.16 mi37, Seddon Avenue, Manchester, Greater Manchester M18 8NW3
£173K06/240.16 mi31, Seddon Avenue, Manchester, Greater Manchester M18 8NW3
£170K09/230.16 mi3, Seddon Avenue, Manchester, Greater Manchester M18 8NW3
£140K04/230.16 mi25, Seddon Avenue, Manchester, Greater Manchester M18 8NW3
£110K11/200.16 mi47, Constable Street, Manchester, Greater Manchester M18 8QQ3
£173K09/230.17 mi36, Kirkham Avenue, Manchester, Greater Manchester M18 8WN3
£155K04/240.18 mi42, Constable Street, Manchester, Greater Manchester M18 8QJ3
£180K02/230.2 mi30, Goring Avenue, Manchester, Greater Manchester M18 8WW3
£173K05/240.21 mi562, Gorton Lane, Manchester, Greater Manchester M18 8EH3
£130K02/230.23 mi145, Lees Street, Abbey Hey, Manchester, Greater Manchester M18 8QL3
£178.5K10/230.23 mi118, Cross Lane, Manchester, Greater Manchester M18 8NZ3
£232K09/220.25 mi38, Paprika Close, Manchester, Greater Manchester M11 2LS3
£225K10/220.25 mi1, Beeth Street, Manchester, Greater Manchester M11 1NP3
£118K02/210.25 mi9, Roxburgh Street, Manchester, Greater Manchester M18 8WX3
£116K01/210.25 mi42, Long Street, Manchester, Greater Manchester M18 8QT3
£195K10/210.26 mi39, Annable Road, Manchester, Greater Manchester M18 8QR3
£126.5K02/210.26 mi27, Sheerness Street, Manchester, Greater Manchester M18 8TY3
£162K12/230.26 mi6, Sheerness Street, Manchester, Greater Manchester M18 8TY3
£240K08/240.26 mi8, Aysgarth Avenue, Manchester, Greater Manchester M18 8RA3
£180K10/200.27 mi11, Louvaine Close, Manchester, Greater Manchester M18 8SJ3
£185K04/210.27 mi34, Paprika Close, Manchester, Greater Manchester M11 2LS3
£195K11/230.27 mi14, Franklyn Road, Manchester, Greater Manchester M18 8QX3
£201K09/210.28 mi76, Chapman Street, Manchester, Greater Manchester M18 8UA3
£107.5K11/210.29 mi42, Godwin Street, Manchester, Greater Manchester M18 8GS3
£145K02/210.29 mi22, Field Street, Manchester, Greater Manchester M18 8GT3

Local Rents

47 rents from £950/mo to £1.7K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,20001/250.01 mi-3
£1,15005/240.09 miLongford Street, M183
£1,40005/240.11 mi-3
£1,40003/250.11 mi-3
£1,25005/240.12 miHollybush Street, Manchester, M183
£99505/240.12 miLongford Street, Manchester, Greater Manchester, M183
£95005/240.12 miCarberry Road, Gorton3
£1,20005/240.13 miCarberry Road, Gorton, Manchester, M183
£1,30005/240.14 miWalmer Street, Abbey Hey, Manchester3
£1,27505/240.14 miWistaria Road, Manchester, M183
£1,27512/240.14 mi-3
£1,19505/240.14 miReynolds Drive, Manchester, M183
£1,39505/240.15 mi-3
£1,40012/240.15 mi-3
£1,30005/240.15 mi-3
£1,15006/240.16 miWelbeck Street, Manchester, M183
£1,50012/240.17 mi-3
£1,50002/250.17 mi-3
£1,00005/240.23 mi Sheerness Street, Gorton, M183
£1,20005/240.24 miAysgarth Avenue, Abbey Hey3
£1,25005/240.25 miAysgarth Avenue, Manchester, M183
£1,20002/250.26 mi-3
£1,70005/240.27 mi-3
£1,70005/240.27 mi-3
£1,50012/240.28 mi-3
£1,50003/250.28 mi-3
£1,15012/240.36 mi-3
£1,25001/250.38 mi-3
£1,19512/240.38 mi-3
£1,60001/250.41 mi-3
£96012/240.42 mi-3
£1,10012/240.42 mi-3
£1,20004/240.44 mi-3
£1,15012/240.44 mi-3
£1,40002/250.46 mi-3
£1,19506/240.47 miJetson Street, Abbey Hey, M18 8SZ3
£1,25012/240.51 mi-3
£1,20010/240.55 mi-3
£1,20005/240.59 miWoodland Avenue, Gorton, Manchester, M18 7HF3
£1,35012/240.59 mi-3
£1,43003/250.61 mi-3
£1,40001/250.61 mi-3
£1,55006/240.61 miStainton Avenue, Manchester, M183
£1,55012/240.61 mi-3
£1,55012/240.61 mi-3
£1,45002/250.61 mi-3
£1,05012/240.62 mi-3

Local Area Statistics

Population in M18

23,432

Population in Manchester

920,095

Town centre distance

3.44 miles away

Nearest school

0.10 miles away

Nearest train station

0.18 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+69%

Sales demand

Seller's market

Capital growth (5yrs)

+74%

Property History

Listed for £170,000

June 8, 2024

Sold for £110,000

2016

Floor Plans

Description

Lancashire Properties are delighted to present this EXCELLENT INVESTMENT OPPORTUNITY THREE BED END-TERRACED property off Hyde Road, M18. It is close to Tesco 24 Hours Shopping Centre and to local amenities. Gorton Market at a short walking distance and has great bus links surrounding the property. There are four primary schools within a 0.5 mile radius and a secondary schools within a mile radius. A close distance to Belle Vue train station going toward Piccadilly Train Station. Easy access to a variety of shops including takeaways/cafes on main Hyde Road which includes Subway, KFC and a lot more.

The property briefly comprises of an entrance porch leading to a hallway, with a Spacious living room and kitchen on the ground floor whereas, there are three bedrooms and a family bathroom on the first floor. Kitchen comprising of wall & base units incorporating a bowl sink with mixer tap alongside an integrated gas HOB unit with oven. Three piece bathroom comprising of a standard WC, wash basin and a bathtub fitted with shower mixer. Externally, there are front and rear gardens to enjoy the sunny summer.

The property will be purchased with tenant in situ. Currently on an AST at £975 PCM. Please note current market rentals for this kind of house is in the region of £1200 to £1300 PCM.

Dimensions are as follows:

Ground Floor -

Living Room ( 10' 8" X 18' 1" )
Double glazed bay window to the front and rear aspect. Carpeted flooring. Electric socket points. Heating radiator. Ceiling light point.

Kitchen ( 6' 9" X 10' 4" )
Double glazed window to the rear aspect with door access to garden. Fitted is a range of wall & base units incorporating a bowl sink with mixer tap alongside an integrated gas HOB & oven. Ceiling light point. Electric points.

First Floor -

Bedroom 1 ( 10' 6" X 9' 8" )
Double glazed bay window to the front aspect. Electric socket points. Ceiling light point. Heating radiator.

Bedroom 2 ( 10' 6" X 9' 4" )
Double glazed window towards rear aspect. Electric socket points. Ceiling light point. Heating radiator.

Bedroom 3 ( 6' 11" X 6' 5" )
Double glazed window towards front aspect. Electric socket points. Ceiling light point. Heating radiator.

Bathroom ( 6' 11" X 5' 11" )
Double glazed window to the rear aspect. Ceiling light point. WC. Wash basin. Bathtub.

Notice:
The above property details should be considered as a general guide only for prospective purchasers. Lancashire Properties does not have any authority to give any warranty in relation to the property.
We would like to bring to the attention of any purchaser that we have endeavoured to provide a realistic description of the property, no specific survey or detailed inspection has been carried out relating to the property, services, appliances and any further fixtures and fittings/equipment.
If double glazing has been stated in the details , the purchaser is advised to satisfy themselves as to the type and amount of double glazing fitted to the property.
We recommend all buyers to carry out their own survey/investigations relating to the purchase of any of our properties.
The mention of any appliances and/or services within these sales particulars does not imply they are in full and efficient working order.
While we endeavour to make our property details accurate and reliable, if there is any point, which is of particular interest to you, please contact the office and we will be pleased to check the information.

Council Tax Band: A (Manchester City Council)
Tenure: Freehold

Agent Details

Lancashire Properties, Manchester

0161 524 2345

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪