2 Bed Terraced House, Refurb/BRRR, Cheadle Hulme, SK8 3JT, £219,950

41 Portloe Road, Cheadle, Greater Manchester, SK8 3JT - 6 views - 6 months ago

Under Offer
Refurb/BRRR
ROI: 3%
86 m²
+3 photos

ValuationFair Value

Sold Prices£165K - £500K
Sold Prices/m²£1.5K/m² - £7.7K/m²

 

 

Square Metres

86 m²
Price/m²£2.6K/m²

Value Estimate

£222,150

 

 

End Value (After Refurb)

£255,193

Uplift in Value

+16%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£54,988

Stamp Duty & Legal Fees

£7,799

Refurb Costs

£36,461

Bridging Loan Interest

£5,774

Total Cash In

£106,770

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£255,193

Mortgage (After Refinance)

£191,395

Mortgage LTV

75%

Cash Released

£26,432

Cash Left In

£80,338

Equity

£63,798

Rent Range

£900 - £2,500

Rent Estimate

£1,405

Running Costs/mo

£1,098

Cashflow/mo

£307

Cashflow/yr

£3,678

ROI

3%

Gross Yield

8%

Local Sold Prices

22 sold prices from £165K to £500K, average is £279K. £1.5K/m² to £7.7K/m², average is £3.9K/m².

PriceDateDistanceAddressBeds 
£294K08/230 mi19, Portloe Road, Heald Green, Cheadle, Greater Manchester SK8 3JT2
£300K10/210.27 mi53, Rossendale Road, Heald Green, Cheadle, Greater Manchester SK8 3HE2
£245K06/230.28 mi22, Dorac Avenue, Heald Green, Cheadle, Greater Manchester SK8 3NZ2
£264.5K03/230.3 mi11, Mulberry Close, Heald Green, Cheadle, Greater Manchester SK8 3NJ2
£251K02/210.4 mi50, Greenhythe Road, Heald Green, Cheadle, Greater Manchester SK8 3NS2
£240K05/210.54 miFlat 14, Outwood House, Griffin Farm Drive, Heald Green, Cheadle, Greater Manchester SK8 3AN2
£345K08/230.6 mi28, Daisy Bank Lane, Heald Green, Cheadle, Greater Manchester SK8 3UB2
£293.5K02/210.61 mi51, Syddall Avenue, Heald Green, Cheadle, Greater Manchester SK8 3AA2
£350K01/230.62 mi37, Brown Lane, Heald Green, Cheadle, Greater Manchester SK8 3RL2
£435.6K05/230.73 mi9, Oakdale Drive, Heald Green, Cheadle, Greater Manchester SK8 3SJ2
£322.5K06/210.73 mi6, Heald Grove, Heald Green, Cheadle, Greater Manchester SK8 3RX2
£315K02/230.8 mi30, Birchdale Avenue, Heald Green, Cheadle, Greater Manchester SK8 3ST2
£250K11/210.82 mi55, Pickmere Road, Handforth, Wilmslow, Cheshire SK9 3TB2
£300K08/230.86 mi49, Ashdale Drive, Heald Green, Cheadle, Greater Manchester SK8 3SY2
£341K06/210.87 mi51, Clay Lane, Handforth, Wilmslow, Cheshire SK9 3NP2
£500K03/230.87 mi63, Clay Lane, Handforth, Wilmslow, Cheshire East SK9 3NP2
£237K11/200.87 mi71, Clay Lane, Handforth, Wilmslow, Cheshire SK9 3NP2
£255K07/210.87 mi35, Clay Lane, Handforth, Wilmslow, Cheshire SK9 3NP2
£187K10/210.88 mi54, Spath Lane, Handforth, Wilmslow, Cheshire East SK9 3RS2
£176.5K03/210.88 mi6, Kelsall Way, Handforth, Wilmslow, Cheshire East SK9 3SX2
£220K01/210.92 mi176, Bruntwood Lane, Heald Green, Cheadle, Greater Manchester SK8 3AS2
£165K10/200.96 mi10, Beeston Road, Handforth, Wilmslow, Cheshire SK9 3SA2

Local Rents

15 rents from £900/mo to £2.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,15008/240.16 mi-2
£1,12502/250.26 mi-2
£1,35009/240.28 miOakdene Avenue, Heald Green, SK82
£90008/240.29 mi-2
£90010/240.29 mi-2
£1,20012/240.36 mi-2
£1,10005/240.48 miSheen Gardens, Heald Green, Manchester2
£1,10006/240.5 miSheen Gardens, Heald Point,Manchester2
£1,30005/240.5 miSheen Gardens, Moss Nook2
£2,50008/240.51 mi-2
£2,50008/240.51 mi-2
£2,35003/250.51 mi-2
£2,50004/250.51 mi-2
£1,30008/240.54 miWilmslow Road, Heald Green2
£1,25009/240.54 miWilmslow Road, Heald Green2

Local Area Statistics

Population in SK8

58,396

Population in Cheadle Hulme

58,434

Town centre distance

1.54 miles away

Nearest school

0.20 miles away

Nearest train station

0.46 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+35%

Property History

Listed for £219,950

October 9, 2024

Sold for £136,000

2006

Floor Plans

Description

  • RENOVATION PROJECT +
  • NEWLY FITTED BATHROOM +
  • TWO DOUBLE BEDROOMS THAT CAN BE CONVERTED TO THREE STP +
  • LARGE GARDEN +
  • POTENTIAL FOR DRIVEWAY +
  • GREAT LOCATION +

The Property The Good Estate Agent are pleased to offer for sale this 2-bedroom end of Terraced Home, ready for you to put your own stamp to it. Offering entrance hallway with store room, large living room, dining room, utility room, external build storage, spacious garden, external build 2 double bedrooms, newly fitted bathroom and potential for a driveway.  The home benefits from uPVC windows throughout.

  • Hallway - Opening to the hallway with access to the upper floor and living room
  • Living / Dining room  – Good size room with large window to the front, understairs storage, fire place large doors to  the garden and door access to the kitchen area
  • Kitchen – Fitted kitchen with window to the rear and access to the utility room.
  • Utility room with space for washer, dryer and door access to the garden The stairs to the first-floor lead to….
  • Main Bedroom – Spacious with large windows to the front.
  • Bedroom 2 – A large second bedroom with window to the rear.
  • Main Bathroom, newly fitted with bathtub, W/C, Basin and walk in shower.  Location In a great location close to Heald Green village, John Lewis, Handforth Dean and Stanley Green, convenient for transport in to Manchester City Centre, Stockport and the beautiful Cheshire Countryside, Styal Mill Country Park is a stone’s throw from Handforth. In recent years neighbouring Handforth Dean/Stanley Green has grown to become a thriving Business Hub offering a large variety of employment opportunities. There is the popular Wilmslow Farmers Market which is bustling with Arts, Antiques, Crafts, Food and Drink as well as a Makers Market in the neighbouring Heald Green. Locally there are many Independent and State Primary and Secondary Schools and access points to the Northwest Motorway network system. Manchester International Airport and some of Cheshire's finest countryside are close at hand. The New Manchester Airport Relief Road is a short Drive offering access to Manchester, Hazel Grove, Poynton, Bramhall, Heald Green, Cheadle, Cheadle Hulme to name a few. Disclaimer These particulars do not constitute or form part of an offer or contract nor may they be regarded as representations. All dimensions are approximate for guidance only, their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose or included in the Sale. Buyers are advised to obtain verification from their solicitors as to the tenure if the property, as well as fixtures and fittings and where the property has been extended/converted as to planning approval and building regulations. All interested parties must themselves verify their accuracy.

Council Tax Band The council tax band for this property is B.

Agent Details

The Good Estate Agent, National

01303 761722

Next Steps?

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