7 Bed HMO, Manchester, M14 5LE, £595,000

62 Norman Road, Manchester, Greater Manchester, M14 5LE - 7 views - 9 months ago

HMO

ROI: 3%

~205 m²

+5 photos

ValuationUndervalued

Sold Prices	£175K - £1.7M
Sold Prices/m²	£968/m² - £4.6K/m²

Square Metres	~204.67 m²
Price/m²	£2.9K/m²
Value Estimate	£627,308£627,308

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£148,750£148,750
Stamp Duty & Legal Fees	£40,700£40,700
Total Cash In	£189,450£189,450

Cash Out
Room Rate	£607£607
Gross Rent	£4,249£4,249
Running Costs/mo	£3,595£3,595
Cashflow/mo	£654£654
Cashflow/yr	£7,847£7,847
ROI	4%4%
Gross Yield	9%9%

Local Sold Prices

7 sold prices from £175K to £1.7M, average is £1.0M. £968/m² to £4.6K/m², average is £3.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£175K	10/22	0.69 mi	71, Birch Lane, Manchester, Greater Manchester M13 0WW	£1,121	156	7	Terraced House
£220K	02/23	1.6 mi	29, Darlington Road, Manchester, Greater Manchester M20 1JB	£968	227	7	Terraced House
£1.0M	07/23	2.03 mi	50, Clyde Road, Manchester, Greater Manchester M20 2WJ	£2,648	389	7	Detached House
£1.1M	02/21	2.13 mi	26, Clothorn Road, Manchester, Greater Manchester M20 6BP	£3,065	354	7	Detached House
£1.7M	02/23	2.13 mi	32, Clothorn Road, Manchester, Greater Manchester M20 6BP	£4,611	360	7	Detached House
£1.1M	02/21	2.2 mi	7, Linden Road, Manchester, Greater Manchester M20 2QJ	£3,667	300	7	Detached House
£980K	08/21	2.24 mi	25, Moorland Road, Manchester, Greater Manchester M20 6BB	£3,379	290	7	Semi-Detached House

Local Area Statistics

Population in M14	52,85352,853
Population in Manchester	920,095920,095
Town centre distance	1.38 miles away1.38 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	1.13 miles away1.13 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	-42%-42%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+49%+49%

Property History

Price changed to £595,000

January 1, 2025

Price changed to £625,000

December 4, 2024

Listed for £650,000

July 2, 2024

Sold for £47,500

1995

Floor Plans

Description

Chain Free +
HMO Property (awaiting copy of licence) +
7 Bedrooms +
Period Semi +
Fantastic Location +
Virtual Viewing Tour Available +

INVESTMENT OPPORTUNITY! Ready to go seven bedroom HMO (awaiting copy of the licence) ideal for student lets. Currently occupied until July this impressive semi detached property is ideally located to make the most of the student market of M14. Entrance hall, leading to a communal lounge, ground floor bedroom and spacious shared kitchen and downstairs shower room. To the first floor there are three double bedrooms and a bathroom, and to the second floor an additional three double bedrooms. VIRTUAL VIEWING TOUR AVAILABLE

Agent Details

Edward Mellor Ltd, Levenshulme

0161 524 5302

Next Steps?

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

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