2 Bed Flat, Cash/Bridging Only, Worsley, M28 3NP, £99,950

Sportside Avenue, Worsley, M28 3NP - 8 months ago

Sold STC
Leasehold
Cash
ROI: 6%
~56 m²
+10 photos

ValuationFair Value

Sold Prices£78K - £187K
Sold Prices/m²£1.4K/m² - £2.6K/m²

 

 

Square Metres

~55.90 m²
Price/m²£1.8K/m²

Value Estimate

£100,620

 

 

End Value (After Refurb)

£133,996

Uplift in Value

+34%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£24,988

Stamp Duty & Legal Fees

£6,198

Refurb Costs

£23,562

Bridging Loan Interest

£2,624

Total Cash In

£59,121

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£133,996

Mortgage (After Refinance)

£100,497

Mortgage LTV

75%

Cash Released

£25,534

Cash Left In

£33,587

Equity

£33,499

Rent Range

£750 - £1,250

Rent Estimate

£926

Running Costs/mo

£624

Cashflow/mo

£302

Cashflow/yr

£3,625

ROI

6%

Gross Yield

11%

Local Sold Prices

30 sold prices from £78K to £187K, average is £100K. £1.4K/m² to £2.6K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£90K01/230.22 mi48, Springside Avenue, Worsley, Manchester, Greater Manchester M28 3PB2
£187K11/220.27 mi8, Egerton Road, Worsley, Manchester, Greater Manchester M28 3JY2
£99K03/230.34 miApartment 2, Hilltop Court, Fereday Street, Worsley, Manchester, Greater Manchester M28 3TG2
£80K01/210.42 mi8, Cawdor Street, Worsley, Manchester, Greater Manchester M28 3HF2
£100K06/210.44 mi211g, Manchester Road, Worsley, Manchester, Greater Manchester M28 3HE2
£120K07/210.61 mi46a, St Georges Crescent, Worsley, Manchester, Greater Manchester M28 3AN2
£120K07/210.61 mi46a, St Georges Crescent, Worsley, Manchester, Greater Manchester M28 3AN2
£90K03/230.61 mi48b, St Georges Crescent, Worsley, Manchester, Greater Manchester M28 3AN2
£95K08/210.66 mi32, Hatherton Court, Worsley, Manchester, Greater Manchester M28 3ER2
£96K06/210.66 mi26, Hatherton Court, Worsley, Manchester, Greater Manchester M28 3ER2
£100K12/210.66 mi20, Hatherton Court, Worsley, Manchester, Greater Manchester M28 3ER2
£90K12/200.66 mi16, Hatherton Court, Worsley, Manchester, Greater Manchester M28 3ER2
£130K01/230.67 mi16, Hirst Avenue, Worsley, Manchester, Greater Manchester M28 3QH2
£139K10/230.68 mi64, Oakwood Drive, Worsley, Manchester, Greater Manchester M28 3HN2
£130K11/200.68 mi62, Oakwood Drive, Worsley, Manchester, Greater Manchester M28 3HN2
£125K08/220.68 mi60, Oakwood Drive, Worsley, Manchester, Greater Manchester M28 3HN2
£125K05/230.68 mi54, Oakwood Drive, Worsley, Manchester, Greater Manchester M28 3HN2
£110K05/240.7 mi8, Lentworth Drive, Worsley, Manchester, Greater Manchester M28 3EX2
£96K07/230.7 mi2, Lentworth Drive, Worsley, Manchester, Greater Manchester M28 3EX2
£120K12/200.7 mi74, Lentworth Drive, Worsley, Manchester, Greater Manchester M28 3EX2
£100K05/210.7 mi18, Lentworth Drive, Worsley, Manchester, Greater Manchester M28 3EX2
£98K07/230.72 miApartment 4, St Andrews House, Manchester Road East, Little Hulton, Manchester, Greater Manchester M38 9AD2
£78K04/210.73 mi16, Everside Close, Worsley, Manchester, Greater Manchester M28 3EY2
£110K01/230.73 mi32, Everside Close, Worsley, Manchester, Greater Manchester M28 3EY2
£140K11/210.73 mi47, Everside Close, Worsley, Manchester, Greater Manchester M28 3EY2
£110K10/220.73 mi31, Everside Close, Worsley, Manchester, Greater Manchester M28 3EY2
£105K03/230.74 mi17, Everside Close, Worsley, Manchester, Greater Manchester M28 3EY2
£78K04/210.74 mi34, Everside Close, Worsley, Manchester, Greater Manchester M28 3EY2
£86K12/220.76 miApartment 14, Prescott Court, Prescott Street, Worsley, Manchester, Greater Manchester M28 0ZA2
£81K07/230.76 miApartment 10, Prescott Court, Prescott Street, Worsley, Manchester, Greater Manchester M28 0ZA2

Local Rents

50 rents from £750/mo to £1.3K/mo, average is £938/mo.

RentDateDistanceAddressBeds 
£90005/240.04 mi-2
£90005/240.04 mi-2
£90006/240.04 mi-2
£89512/240.04 mi-2
£95012/240.15 mi-2
£1,25012/240.19 miWhittle Street, M282
£95003/250.19 mi-2
£99004/250.2 mi-2
£77505/240.29 miLargo House, Egerton Road, Walkden2
£77506/240.29 miLargo House, Egerton Road, Walkden2
£75005/240.29 miLargo House, Walkden2
£75006/240.29 miLargo House, Walkden2
£85011/240.33 mi-2
£85009/240.33 mi-2
£99512/240.34 mi-2
£90009/230.35 mi-2
£80006/240.36 miWorsley Gardens, Mountain Street, Worsley, Manchester, M282
£1,10012/240.38 mi-2
£1,10005/240.39 miManchester Road, Walkden, Greater Manchester, M282
£99504/250.39 mi-2
£85012/240.4 mi-2
£85005/240.4 miReservoir Gardens, Worsley, Manchester, M282
£95010/240.4 mi-2
£90005/240.4 miVictoria Place Walkden2
£95008/230.4 mi-2
£1,00002/250.4 mi-2
£98504/240.4 mi-2
£99501/250.41 mi-2
£90012/240.41 mi-2
£85004/250.42 mi-2
£85005/240.42 miAtkin Street, Worsley, Manchester, M282
£95004/250.44 mi-2
£92504/250.45 mi-2
£87505/240.45 miLongley Road, Worsley, Manchester, M282
£89512/240.45 mi-2
£89510/240.45 mi-2
£92512/240.45 mi-2
£99009/240.45 mi-2
£89504/250.46 mi-2
£85002/250.47 mi-2
£95005/240.49 miAlexandra Road, Worsley, Salford, M282
£97503/250.52 mi-2
£95010/240.53 mi-2
£97505/240.53 miHolyoake Road, Worsley, M282
£95012/240.54 mi-2
£97505/240.54 miHolyoake Road, Worsley, M282
£97506/240.54 miHolyoake Road, Worsley, M282
£99504/250.54 mi-2
£95005/240.57 miStanley Road, Worsley, Manchester, M28 3EQ2
£95006/240.58 miAinsworth Court, Stanley Road, Worsley, Manchester2

Local Area Statistics

Population in M28

39,097

Town centre distance

0.75 miles away

Nearest school

0.20 miles away

Nearest train station

0.57 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+15%

Sales demand

Balanced market

Capital growth (5yrs)

+31%

Property History

Listed for £99,950

September 7, 2024

Floor Plans

Description

  • TWO BEDROOM FIRST FLOOR APARTMENT +
  • CASH BUYERS ONLY +
  • NO ONWARD CHAIN +
  • LEASEHOLD +
  • SERVICE CHARGE £246.13/ANNUM +
  • £10 GROUND RENT INCLUDED WITHIN SERVICE CHARGE +
  • OWN FRONT DOOR, LARGE LOFT SPACE & PART FURNISHED +
  • CLOSE TO WALKDEN TOWN CENTRE +
  • CLOSE TO BLACKLEACH COUNTRY PARK AND THE LINNYSHAW LOOPLINE +
  • EXCELLENT TRANSPORT LINKS +

*CASH BUYERS ONLY* BALMER & CO in TYLDESLEY are delighted to offer FOR SALE this fantastic two bedroom first floor apartment close to Walkden town centre. Offered with no onward chain, this quiet property is offered partly furnished making it an ideal purchase for BTL investors or owner occupiers. Comprising in brief of of entrance hallway, staircase to the first floor, large living room, fitted kitchen with 3ft pull out worktop extension, fold up breakfast bar, pull out spice rack, pull out bin and tea towel rail, master bedroom with fitted cupboard space, second single bedroom, with a three piece family bathroom completing the accommodation on offer. The apartments offers ample storage space throughout and also benefits from a large loft space above. Externally there is communal garden space to the front and the property is also situated close to Blackleach Country Park and the Linnyshaw Loopline. Early viewings highly recommended, all enquiries welcome.

Agent Details

Balmer & Co, Atherton

01942 925827

Next Steps?

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