2 Bed Flat, Single Let, Manchester, M4 5LX, £175,000

5 Luna Street, Manchester, M4, M4 5LX - 2 views - 9 months ago

Leasehold
Auction
BTL
ROI: 7%
103 m²
+3 photos

ValuationUndervalued

Sold Prices£130K - £487K
Sold Prices/m²£2.4K/m² - £4.2K/m²

 

 

Square Metres

103.20 m²
Price/m²£1.7K/m²

Value Estimate

£210,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£43,750

Stamp Duty & Legal Fees

£9,950

Total Cash In

£53,700

 

 

Cash Out

 

Rent Range

£730 - £2,500

Rent Estimate

£1,084

Running Costs/mo

£784

Cashflow/mo

£300

Cashflow/yr

£3,604

ROI

7%

Gross Yield

7%

Local Sold Prices

20 sold prices from £130K to £487K, average is £210.3K. £2.4K/m² to £4.2K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£257K10/210.15 miFlat 50, M M2 Apartments, Pickford Street, Manchester, Greater Manchester M4 5BS2
£487K03/230.18 mi11, Marshall Street, Manchester, Greater Manchester M4 5FU2
£270K05/230.43 mi17, William Jessop Court, Manchester, Greater Manchester M1 2NE2
£270K03/210.45 mi4, John Smeaton Court, Manchester, Greater Manchester M1 2NR2
£220K01/240.61 miBlock D, Apartment 59, Pollard Street, Manchester, Greater Manchester M4 7AT2
£250K11/230.64 miFlat 25, Sackville Place, Bombay Street, Manchester, Greater Manchester M1 7AT2
£213K03/210.64 miFlat 51, Sackville Place, Bombay Street, Manchester, Greater Manchester M1 7AT2
£220K12/220.67 miApartment 39, Venice Court, Samuel Ogden Street, Manchester, Greater Manchester M1 7AX2
£207.5K12/200.69 miFlat 21, Granby House, Granby Row, Manchester, Greater Manchester M1 7AR2
£203K02/230.69 miFlat 31, Granby House, Granby Row, Manchester, Greater Manchester M1 7AR2
£234K06/210.83 miApartment 381, Block 7 Spectrum, Blackfriars Road, Salford, Greater Manchester M3 7BY2
£150K09/230.87 miApartment 219, Quebec Building, Bury Street, Salford, Greater Manchester M3 7DY2
£150K05/230.92 mi12, Twillbrook Drive, Salford, Greater Manchester M3 7AR2
£140K11/200.92 mi12, Twillbrook Drive, Salford, Greater Manchester M3 7AR2
£130K02/210.94 mi11, Georgette Drive, Salford, Greater Manchester M3 7AF2
£150K08/210.94 mi1, Georgette Drive, Salford, Greater Manchester M3 7AF2
£178K09/210.95 mi36, Bridgewater Street, Salford, Greater Manchester M3 7AS2
£170K03/210.96 mi10, Hursthead Walk, Manchester, Greater Manchester M13 9UT2
£170K09/210.99 miFlat 12, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ2
£330K12/220.99 miFlat 36, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ2

Local Rents

51 rents from £730/mo to £2.5K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,50002/240.01 mi-2
£1,80006/240.01 mi-2
£1,80006/240.01 miLuna Street, Manchester, M42
£2,00004/250.01 mi-2
£1,80005/240.02 miHenry Street, Manchester2
£1,35005/240.03 mi-2
£1,22505/240.03 miExpress Networks 3, 6 Oldham Road2
£1,22505/240.03 miExpress Networks, 6 Oldham Road2
£1,30006/240.03 miConnect House, 1 Henry Street, Manchester, M42
£1,29505/240.03 miDerros Buildings, 2 George Leigh Street2
£1,10005/240.03 miApartment 402 6 Oldham Road, Manchester, M42
£1,25006/240.03 miExpress Networks 3, 6 Oldham Road, Manchester, M42
£73002/240.03 mi-2
£1,80004/250.03 mi-2
£1,50004/250.03 mi-2
£1,49512/240.04 mi-2
£1,19506/240.04 miHudson Building, 29 - 37 Great Ancoats Street, Ancoats, Manchester, M4 5AE2
£1,19506/240.04 miHudson Building, 29 - 37 Great Ancoats Street, Ancoats, Manchester, M4 5AE2
£1,07505/240.04 miHudson Building, Ancoats, M42
£1,30004/250.05 mi-2
£1,10003/250.05 mi-2
£1,70005/240.06 miCotton Street, Ancoats2
£1,47505/240.06 miBlossom Street, Manchester, Greater Manchester, M42
£1,85006/240.06 miAlumni Court, 1 Cotton Street, Manchester, M42
£1,69506/240.06 miBurton Building, 90-94 Oldham Street, Northern Quarter, Manchester, M4 1LJ2
£1,77205/240.06 miHenry Street, Manchester, Greater Manchester, M42
£1,79805/240.06 miHenry Street, Manchester, Greater Manchester, M42
£1,57003/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,59903/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,56603/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,61205/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,55006/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,55005/240.07 miBroadside, Oldham Road, M42
£1,56005/240.07 mi2 Addington Street, Manchester, Greater Manchester, M42
£1,64003/240.07 miPoplin 2 Addington Street, Manchester, Greater Manchester, M42
£1,60505/240.07 miApt 13, Addington Street, Manchester, Greater Manchester, M42
£1,62005/240.07 miApt 40, Addington Street, Manchester, Greater Manchester, M42
£1,72006/240.07 miApt103, 2 Addington Street2
£1,62512/240.07 miApt04, Addington Street, Manchester, Greater Manchester, M42
£1,50001/250.07 mi00113, 2 Addington Street, Manchester, Greater Manchester, M42
£2,50005/240.07 miManchester, M42
£2,50005/240.07 miManchester, M42
£1,50005/240.07 miBroadside, Oldham Road M42
£1,45003/240.07 miBroadside, Oldham Road, M42
£1,57503/240.08 miBroadside, Oldham Road M42
£1,17505/240.08 miAnita Street, Manchester, M4 5DU2
£1,40005/240.08 miLoom Street, Manchester, Greater Manchester, M42
£1,42503/240.08 miBroadside, Manchester, M42
£1,45006/240.08 miBroadside, Manchester, M42
£1,42506/240.08 miBroadside, Manchester, M42
£1,50002/250.08 mi-2

Local Area Statistics

Population in M4

10,600

Population in Manchester

920,095

Town centre distance

2.17 miles away

Nearest school

0.30 miles away

Nearest train station

0.37 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+33%

Sales demand

Buyer's market

Capital growth (5yrs)

+3%

Property History

Listed for £175,000

August 1, 2024

Floor Plans

Description

  • BEING SOLD BY GOTO ONLINE AUCTION +
  • BUY-IT-NOW OPTION AVAILABLE +
  • BUYER's FEES APPLY +
  • TWO BED DUPLEX APARTMENT OVER TWO FLOORS +
  • SET IN HEART OF THE EVER POPUAR ANCOATS +
  • MODERN & CONTEMPORARY INTERIOR THROUGHOUT +
  • TWO DOUBLE BEDROOMS, BATHROOM & WET ROOM +
  • LOCATED IN THE GRADE II LISTED BUILDING +
  • NO VENDOR CHAIN +

The Property
BEAUTIFULLY PRESENTED TWO BEDROOM DUPLEX APARTMENT OVER TWO FLOORS * IDEAL FOR FIRST TIME BUYERS, YOUNG PROFESSIONALS & BUY TO LET LANDLORDS LOOKING FOR A GOOD RETURN * WALKING DISTANCE TO THE NORTHERN QUARTER AND ANCOATS WITH AN ARRAY OF SHOPS, BARS, RESTAURANTS, SUPERMARKETS & GENERAL LOCAL AMENITIES THAT A CITY CENTRE APARTMENT HAS TO OFFER * NEW ISLINGTON, PICCADILLY TRAM STOPS & MANCHESTER PICCADILLY TRAIN STATION ALL UNDER HALF A MILE FROM THE PROPERTY * EARLY & INTERNAL VIEWING HIGHLY RECOMMENDED ON THIS MOVE IN READY PROPERTY * EWS1 CERTIFIED * NO CHAIN ***

Lease info: 250 years (less 3 days) from 1 January 2000

Material information:
The information above has been provided by the vendor, agent and GOTO Group and may not be accurate. Please refer to the property’s Legal Pack. (You can download this once you have registered your interest against the property). This pack provides material information which will help you make an informed decision before proceeding. It may not yet include everything you need to know so please make sure you do your own due diligence as well.

Communal Entrance
Intercom entry system into building with lifts and stairs to all floors.

Entrance Hall

Open Plan Living

Study

Bathroom

Wet Room

Bedroom One

Bedroom Two

Property Description
Being Sold by GOTO Online Auction

Starting Bids from £200,000

Buy it now option available

Please call or visit Purplebricks Online Auctions for more information.

This property is for sale by Online Auction. The Online Modern Method of Auction is a flexible buyer friendly method of purchase. The purchaser will have 56 working days to exchange and complete once the draft contract has been received by the buyer’s solicitor (or 10 working days after receipt of the buyer’s premium, whichever is earlier). Allowing the additional time to exchange and complete on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable reservation fee called a Buyer’s Premium. This secures the transaction and takes the property off the market. The buyer will be required to agree to our terms and conditions prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found on the online Auction website or requested from our Auction Department.

Please note this property is subject to an undisclosed Reserve Price which is typically no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Our primary duty of care is to the vendor. Terms and conditions apply to the Modern Method of Auction, which is operated by GOTO Auctions.

To book a viewing visit Purplebricks.

General Information
Auctioneer's Comments

This property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer but will be given 56 working days in which to complete the transaction, from the date the Draft Contract is issued by the seller’s solicitor. By giving a buyer time to exchange contracts on the property, means normal residential finance can be arranged.

The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer reserve the property to the buyer during the Reservation Period and are paid in addition to the purchase price and are considered within calculations for Stamp Duty Land Tax. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from our website or requested from our Auction Department.

Buyer Fees
• Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer’s Premium of 3.6% of the purchase price including VAT (this is subject to a minimum amount of £6,600 including VAT) and a Legal Pack fee of £372 including VAT. This secures the transaction and takes the property off the market.
• Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland.

Property ownership information

Ground rent review period: No review period

Service charge review period: No review period

Lease end date: 31/12/2249

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.

Agent Details

Purplebricks, covering Manchester

0161 524 9265

Next Steps?

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