2 Bed Flat, Single Let, Salford, M5 3NQ, £82,000

The Exchange, 8 Elmira Way, Salford, M5 3NQ - 2 views - 8 months ago

Leasehold
Auction
BTL
ROI: 28%
~60 m²
+4 photos

ValuationUndervalued

Sold Prices£102K - £263K
Sold Prices/m²£1.7K/m² - £4.4K/m²

 

 

Square Metres

~59.84 m²
Price/m²£1.4K/m²

Value Estimate

£100,040
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£20,500

Stamp Duty & Legal Fees

£5,300

Total Cash In

£25,800

 

 

Cash Out

 

Rent Range

£1,000 - £2,600

Rent Estimate

£1,100

Running Costs/mo

£496

Cashflow/mo

£604

Cashflow/yr

£7,245

ROI

28%

Gross Yield

16%

Local Sold Prices

50 sold prices from £102K to £263K, average is £193.5K. £1.7K/m² to £4.4K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£178K03/230.16 mi15, Radclyffe Mews, Salford, Greater Manchester M5 3GD2
£170K02/230.16 mi17, Radclyffe Mews, Salford, Greater Manchester M5 3GD2
£263K12/230.17 mi44, Merchants Quay, Salford, Greater Manchester M50 3XR2
£250K10/210.24 mi62, Merchants Quay, Salford, Greater Manchester M50 3XG2
£210K10/200.24 mi88, Merchants Quay, Salford, Greater Manchester M50 3XG2
£210K10/200.24 mi88, Merchants Quay, Salford, Greater Manchester M50 3XG2
£153.5K03/210.26 mi41, Greenwood Terrace, Salford, Greater Manchester M5 3GH2
£188K10/200.27 mi76, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£238.5K10/230.27 mi70, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£198K10/230.27 mi76, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£155K09/200.27 mi37, Greenwood Terrace, Salford, Greater Manchester M5 3GH2
£188K10/200.28 mi76, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£195K01/230.29 mi145, Labrador Quay, Salford, Greater Manchester M50 3YH2
£196K10/200.29 mi25, Labrador Quay, Salford, Greater Manchester M50 3YH2
£208K05/210.29 mi111, Labrador Quay, Salford, Greater Manchester M50 3YH2
£197K12/200.29 mi107, Labrador Quay, Salford, Greater Manchester M50 3YH2
£192K01/210.29 mi153, Labrador Quay, Salford, Greater Manchester M50 3YH2
£204K03/210.29 mi141, Labrador Quay, Salford, Greater Manchester M50 3YH2
£255K11/220.29 mi119, Labrador Quay, Salford, Greater Manchester M50 3YH2
£210K05/230.29 mi171, Labrador Quay, Salford, Greater Manchester M50 3YH2
£212K12/220.29 mi43, Labrador Quay, Salford, Greater Manchester M50 3YH2
£240K12/220.3 mi15, St Lawrence Quay, Salford, Greater Manchester M50 3XT2
£240K09/210.32 mi44, Vancouver Quay, Salford, Greater Manchester M50 3TU2
£205K09/210.32 mi71, Vancouver Quay, Salford, Greater Manchester M50 3TU2
£209.5K11/200.32 mi70, Vancouver Quay, Salford, Greater Manchester M50 3TU2
£228K05/210.38 mi16, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£260K12/200.38 mi53, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£200K06/210.38 mi24, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£230K05/210.38 mi41, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£190K04/210.38 mi49, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£210K03/240.51 miImperial Point, Apartment 812, The Quays, Salford, Greater Manchester M50 3RB2
£153K12/230.63 miRenolds House, Apartment 19, Everard Street, Salford, Greater Manchester M5 4UB2
£114K11/230.63 miApartment 1, Renolds House, Everard Street, Salford, Greater Manchester M5 4UB2
£180K12/220.66 miApartment 47, Slater House, Woden Street, Salford, Greater Manchester M5 4UE2
£200K01/230.67 miApartment 1905, Number One, Pink, Media City Uk, Salford, Greater Manchester M50 2BB2
£200K06/230.67 miApartment 403, Number One, Pink, Media City Uk, Salford, Greater Manchester M50 2BA2
£136.1K01/230.7 miFlat 66, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£138K03/230.7 miFlat 102, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£102K03/210.7 miFlat 101, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£138K07/230.7 miFlat 90, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£122K05/210.71 miFlat 15, Redmires Court, Eccles New Road, Salford, Greater Manchester M5 4US2
£140K07/230.71 miFlat 49, Redmires Court, Eccles New Road, Salford, Greater Manchester M5 4US2
£112.5K01/210.71 miFlat 73, Redmires Court, Eccles New Road, Salford, Greater Manchester M5 4UT2
£110K11/200.72 miFlat 41, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW2
£150K11/220.72 miFlat 42, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW2
£173K11/210.74 miApartment 72, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS2
£171.5K07/210.74 miApartment 49, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS2
£127.5K07/230.76 miFlat 11, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2
£130K05/230.76 miFlat 2, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2
£128K02/210.76 miFlat 19, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2

Local Rents

51 rents from £1K/mo to £2.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,25012/240 miThe Exchange, 8 Elmira Way, Salford, Manchester, M52
£1,30006/240 mi8 Elmira Way, Salford, Manchester, M52
£1,25005/240 miThe Exchange, 8 Elmira Way, Salford, M52
£1,20005/240 miThe Exchange, 8 Elmira Way, Salford, Manchester, M52
£1,17505/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,19505/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,25005/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,25005/240 miThe Exchange, 8 Elmira Way, Salford, M52
£1,20012/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,15002/240 mi-2
£1,26003/240 miThe Exchange, Elmira Way, Manchester, M52
£1,20006/240 mi-2
£1,20005/240 miThe Exchange, Salford, M52
£1,20001/250 mi-2
£1,25003/250 mi-2
£1,25005/240.02 miThe Gateway, 15 Trafford Road, Salford, M52
£1,27502/240.03 mi-2
£1,25002/240.03 mi-2
£1,27505/240.03 mi-2
£1,27506/240.03 mi-2
£1,27506/240.03 miTrafford Road, Salford, M52
£1,40006/240.03 mi-2
£1,40006/240.03 mi-2
£1,27512/240.03 mi-2
£1,29501/250.03 mi-2
£2,40005/240.03 mi-2
£1,90005/240.03 mi-2
£1,30003/240.04 mi15 Trafford Road, Salford, Lancashire, M52
£1,30005/240.04 mi-2
£2,60012/240.04 mi-2
£2,60012/240.04 mi-2
£1,10005/240.04 miPioneer House, Elmira Way, Salford, M52
£1,15005/240.04 miPioneer House, Elmira Way, Salford, M52
£1,20005/240.04 miPioneer House, Elmira Way, Salford , M52
£1,25002/250.04 mi-2
£1,10005/240.04 miPioneer House, Elmira Way, Salford M5 3LL2
£1,27505/240.04 miThe Gateway, 15 Trafford Road, Salford, M52
£1,20005/240.05 miPioneer House, 1c Elmira Way, Salford Quays, Salford, Lancashire, M52
£1,20005/240.05 miPioneer House, 1C Elmira Way, Salford, Lancashire, M52
£1,20005/240.05 miEndeavour House, 1b Elmira Way, M52
£1,15005/240.05 miEndeavour House, 1b Elmira Way, M52
£1,15005/240.05 miEndeavour House, 1b Elmira Way, M52
£1,20006/240.05 miEndeavour House, 1b Elmira Way, M52
£1,20006/240.05 miEndeavour House, 1b Elmira Way, M52
£1,30005/240.05 miElmira Way, Salford, Greater Manchester, M52
£1,15005/240.05 miBrindley House, 1 Elmira Way, Salford, M52
£1,10005/240.05 miBrindley House, 1 Elmira Way, Salford, M52
£1,20005/240.05 miBrindley House, 1 Elmira Way, Salford, M52
£1,00005/240.05 miBrindley House, 1 Elmira Way, Salford Quays, Salford, M52
£1,05006/240.05 mi-2
£1,20003/250.05 mi-2

Local Area Statistics

Population in M5

14,445

Population in Salford

88,697

Town centre distance

2.53 miles away

Nearest school

0.30 miles away

Nearest train station

0.07 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Buyer's market

Capital growth (5yrs)

+6%

Property History

Price changed to £82,000

February 24, 2025

Listed for £90,000

July 17, 2024

Floor Plans

Description

  • For Sale by Modern Auction – T & C’s apply +
  • Subject to Reserve Price +
  • Buyers fees apply +
  • The Modern Method of Auction +
  • TWO-BEDROOM APARTMENT +
  • X1 THE EXCHANGE +
  • SEVENTH FLOOR +
  • FULLY FURNISHED +
  • TENANT IN SITU +

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

X1 Sales presents this SEVENTH floor two-bedroom, two-bathroom apartment for sale in X1 The Exchange. Tenant in situ on rolling contract.

About this development
X1 The Exchange has a range of fully furnished, spacious apartments in the heart of Salford Quays.

The property is a short walk away from a wide choice of restaurants, bars and shops in the ever popular Media City. The Lowry Theatre, Lowry Outlet and Helly Hansen Watersports centre are highlights of this property’s location.

An on site gym is available 24/7 using a tenant access card.

An overnight security guard is stationed on site every evening until early morning.

Overview:
Rental income received - £1100.00 per month
2025 Service Charge - £2,842.61
Ground Rent - £250p/a (5 Year RPI) review date 19.03.2025
Tenure - Leasehold (130 years, 5 months remaining)
COUNCIL TAX BAND C
EPC Rating C

*Pictures displayed are sample photos of another property within this development. Please contact us to view the exact!*

This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation
Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).
If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information
Pack is provided, which you must view before bidding. The buyer will pay £300 inc VAT for this pack.

The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase
price inc VAT, subject to a minimum of £6,600 inc VAT. This Fee is paid to reserve the property to the buyer during the
Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.
Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the
service is taken. Payment varies but will be no more than £450. These services are optional.

Agent Details

X1 Sales & Lettings, Salford

0151 453 8069

Next Steps?

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