3 Bed Semi-Detached House, Refurb/BRRR, Salford, M6 7QU, £225,000

Acresfield Road, Salford, Greater Manchester, M6 7QU - 19 views - 6 months ago

Sold STC
Leasehold
Auction
Refurb/BRRR
ROI: 5%
~93 m²
+8 photos

ValuationOvervalued

Sold Prices£130K - £378K
Sold Prices/m²£1.6K/m² - £3.7K/m²

 

 

Square Metres

~93 m²
Price/m²£2.4K/m²

Value Estimate

£220,489

 

 

End Value (After Refurb)

£212,093

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£56,250

Stamp Duty & Legal Fees

£7,950

Refurb Costs

£39,428

Bridging Loan Interest

£5,906

Total Cash In

£111,285

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£212,093

Mortgage (After Refinance)

£159,070

Mortgage LTV

75%

Cash Left In

£111,285

Equity

£53,023

Rent Range

£659 - £3,645

Rent Estimate

£1,431

Running Costs/mo

£969

Cashflow/mo

£462

Cashflow/yr

£5,544

ROI

5%

Gross Yield

8%

Local Sold Prices

50 sold prices from £130K to £378K, average is £239.3K. £1.6K/m² to £3.7K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£325K12/220.05 mi43, Moorfield Road, Salford, Greater Manchester M6 7EY3
£290K03/230.05 mi49, Moorfield Road, Salford, Greater Manchester M6 7EY3
£225K11/230.05 mi67, Moorfield Road, Salford, Greater Manchester M6 7EY3
£215K02/210.08 mi20, Denstone Road, Salford, Greater Manchester M6 7FG3
£251K09/210.1 mi5, Alresford Road, Salford, Greater Manchester M6 7RF3
£285K07/230.1 mi1, Alresford Road, Salford, Greater Manchester M6 7RF3
£270K11/200.1 mi12, Alresford Road, Salford, Greater Manchester M6 7RF3
£225K09/210.1 mi84, Elleray Road, Salford, Greater Manchester M6 7GZ3
£230K01/210.13 mi52, Doveleys Road, Salford, Greater Manchester M6 7FT3
£230K06/230.13 mi44, Doveleys Road, Salford, Greater Manchester M6 7FT3
£180.5K09/220.14 mi9, Summerville Road, Salford, Greater Manchester M6 7HG3
£157.3K04/210.14 mi31, Summerville Road, Salford, Greater Manchester M6 7HG3
£200K01/230.14 mi31, Sumner Road, Salford, Greater Manchester M6 7GJ3
£266.1K06/210.15 mi11, Sumner Road, Salford, Greater Manchester M6 7QH3
£220K06/210.15 mi13, Penelope Road, Salford, Greater Manchester M6 7GH3
£210K08/210.15 mi3, Penelope Road, Salford, Greater Manchester M6 7GH3
£315K12/220.15 mi30, Alresford Road, Salford, Greater Manchester M6 7QJ3
£238.5K11/220.15 mi14b, Moorfield Road, Salford, Greater Manchester M6 7QD3
£250K11/210.16 mi37, Acresfield Road, Salford, Greater Manchester M6 7GE3
£280K01/210.16 mi42, Moorfield Road, Salford, Greater Manchester M6 7QD3
£247K10/200.16 mi22, Moorfield Road, Salford, Greater Manchester M6 7QD3
£195K05/210.16 mi40, Denstone Road, Salford, Greater Manchester M6 7ER3
£290K02/210.16 mi29, Alresford Road, Salford, Greater Manchester M6 7QJ3
£164.6K12/200.17 mi33, Halstead Avenue, Salford, Greater Manchester M6 7EP3
£267.5K11/210.17 mi32, Trenant Road, Salford, Greater Manchester M6 7ES3
£215K04/210.17 mi25, Trenant Road, Salford, Greater Manchester M6 7ES3
£304K12/230.17 mi28, Trenant Road, Salford, Greater Manchester M6 7ES3
£260K10/220.17 mi44, Longmead Road, Salford, Greater Manchester M6 7EU3
£130K02/210.18 mi27, Winton Road, Salford, Greater Manchester M6 7HR3
£190K09/200.18 mi44, Longmead Road, Salford, Greater Manchester M6 7EU3
£250K08/230.18 mi18, Longmead Road, Salford, Greater Manchester M6 7EU3
£255K11/200.19 mi80, Claremont Road, Salford, Greater Manchester M6 7GP3
£378K09/210.21 mi113, Claremont Road, Salford, Greater Manchester M6 7QF3
£175K06/230.21 mi19, Filey Drive, Salford, Greater Manchester M6 7HE3
£325K10/230.25 mi6, Ashbourne Road, Salford, Greater Manchester M6 7GL3
£327.5K06/230.25 mi4, Ashbourne Road, Salford, Greater Manchester M6 7GL3
£250K09/220.25 mi3, Woodfield Road, Salford, Greater Manchester M6 7QE3
£232K09/210.25 mi40, Claremont Road, Salford, Greater Manchester M6 7RN3
£175K03/210.26 mi2, Deacons Drive, Salford, Greater Manchester M6 7LG3
£175K03/210.26 mi2, Deacons Drive, Salford, Greater Manchester M6 7LG3
£290K02/230.26 mi10, Deacons Drive, Salford, Greater Manchester M6 7LG3
£185K04/210.26 mi5, Deacons Drive, Salford, Greater Manchester M6 7LG3
£240K09/230.26 mi29, Bank Lane, Salford, Greater Manchester M6 7LW3
£155K05/210.26 mi29, Bank Lane, Salford, Greater Manchester M6 7LW3
£176K04/210.26 mi17, Bank Lane, Salford, Greater Manchester M6 7LW3
£328.3K07/230.26 mi11, Kendal Road, Salford, Greater Manchester M6 7GN3
£325K06/210.27 mi46, Manor Road, Salford, Greater Manchester M6 8QN3
£220K02/240.28 mi11, Barclays Avenue, Salford, Greater Manchester M6 7LQ3
£272K10/230.29 mi28, Claremont Road, Salford, Greater Manchester M6 7NW3
£150K02/210.29 mi47, Duchy Road, Salford, Greater Manchester M6 7JT3

Local Rents

50 rents from £659/mo to £3.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,30003/250.05 mi-3
£1,75505/240.07 miNorbury Avenue, Salford, M6 7EG3
£1,30005/240.08 miElleray Road, Salford3
£1,30003/250.1 mi-3
£3,64502/240.12 mi-3
£1,40006/240.12 mi-3
£1,40006/240.12 mi-3
£1,40005/240.12 miElleray Road, Salford, M63
£1,40006/240.12 miElleray Road, Salford, M63
£1,29505/240.13 miDuffield Road, Salford3
£1,56005/240.14 mi20 Peacock Avenue, Salford, M6 7FP3
£1,15005/240.17 miHalstead Avenue, Salford3
£65903/250.18 mi-3
£1,30006/240.21 miCaldy Road, Salford3
£2,90005/240.22 mi-3
£1,30005/240.25 miLinden Avenue, Linden Avenue, Salford, M63
£1,20001/250.26 mi-3
£1,20002/240.26 mi-3
£1,20002/240.26 mi-3
£1,19505/240.27 miBank Lane, Salford, M63
£1,10012/240.3 mi-3
£1,88505/240.3 mi30 Saxby Street, Salford, M6 7RG3
£1,35003/250.33 mi-3
£3,50001/250.33 mi-3
£1,25012/240.35 mi-3
£1,25006/240.35 miMalvern Drive, Swinton, Manchester, M273
£1,00006/240.36 mi-3
£1,05005/240.36 miNew Barton Street, Salford, M63
£1,00005/240.36 miNew Barton Street, Salford, M63
£97503/250.37 mi-3
£1,00005/240.4 miBroomhall Road, Pendlebury, Swinton, Manchester, M273
£1,40012/240.4 mi-3
£1,25012/240.41 mi-3
£1,65006/240.41 mi-3
£1,65005/240.41 miChaplin Close, Manchester, M63
£1,19505/240.47 miCastleway, Salford3
£1,30002/240.47 mi-3
£1,25005/240.48 miKingsway, Swinton3
£1,40005/240.49 miBolton Road, Swinton M273
£1,40005/240.5 miLight Oaks Road, Salford, M63
£1,40006/240.5 mi-3
£1,39505/240.51 miBolton Road, Pendlebury, Swinton, M273
£1,30005/240.51 mi-3
£1,35003/250.51 mi-3
£1,70003/250.52 mi-3
£1,50005/240.53 miWeylands Grove, Manchester, M63
£1,30003/250.54 mi-3
£1,18002/250.54 mi-3
£3,60003/250.55 mi-3
£1,45006/240.56 mi-3

Local Area Statistics

Population in M6

31,268

Population in Salford

88,697

Town centre distance

0.47 miles away

Nearest school

0.10 miles away

Nearest train station

1.09 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Seller's market

Capital growth (5yrs)

+58%

Property History

Listed for £225,000

September 24, 2024

Floor Plans

Description

  • IN NEED OF MODERNISATION +
  • To be sold with NO CHAIN +
  • Two spacious reception rooms +
  • Generously proportioned bedrooms +
  • Detached Garage +
  • High demand property +

IN NEED OF MODERNISATION The property boasts two reception rooms, providing ample space for entertainment and relaxation. These areas are perfect for hosting family gatherings or simply enjoying a quiet evening in.

The three generously proportioned bedrooms are one of the standout features of this property. Each room offers plenty of space, allowing for flexibility in decor and furniture arrangement.

The kitchen requires updating which gives a unique opportunity for the new owners to design their dream kitchen space. It's a blank canvas just waiting for your personal touch.

There is also a well-appointed bathroom and seperate WC, which offers practicality and comfort for all residents.

This semi-detached property is a wonderful blend of space and comfort, providing an exceptional living environment. There is a large driveway to the fron and side of the property and a detached garage and large garden to the rear. The property's configuration and potential make it a compelling proposition for anyone looking for their next home or an investor looking for a new opportunity.

In summary, this is a fantastic opportunity to acquire a spacious and flexible property with a wealth of potential. We encourage interested parties to act promptly, as properties in this area are in high demand. Please contact us for more information or to arrange a viewing.

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.
Reeds Rains would like to present this three-bedroom semi-detached property for sale on the modern method of auction. This property is in need of renovation and updating throughout.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS: We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in every case.

SAF240066/2

Agent Details

Reeds Rains, Salford

0161 524 9343

Next Steps?

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