5 Bed HMO, Salford, M7 1NB, £290,000

16 Nelson Street, Salford, Greater Manchester, M7 1NB - 26 views - 6 months ago

Sold STC
Auction
HMO
ROI: 17%
~178 m²
+15 photos

ValuationUndervalued

Sold Prices£128K - £840K
Sold Prices/m²£992/m² - £4.6K/m²

 

 

Square Metres

~178.28 m²
Price/m²£1.6K/m²

Value Estimate

£362,500
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£72,500

Stamp Duty & Legal Fees

£11,900

Total Cash In

£84,400

 

 

Cash Out

 

Room Rate

£672

Gross Rent

£3,360

Running Costs/mo

£2,181

Cashflow/mo

£1,179

Cashflow/yr

£14,147

ROI

17%

Gross Yield

14%

Local Sold Prices

31 sold prices from £128K to £840K, average is £482.5K. £992/m² to £4.6K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£175K12/220.03 mi32, Albert Park Road, Salford, Greater Manchester M7 1LT5
£285K05/210.23 mi11, Oak Road, Salford, Greater Manchester M7 2HP5
£400K07/220.62 mi388, Great Clowes Street, Salford, Greater Manchester M7 2EB5
£650K10/230.81 mi29, Northumberland Street, Salford, Greater Manchester M7 4DQ5
£515K10/211.1 mi3, Degas Close, Salford, Greater Manchester M7 3BG5
£740K01/211.16 mi1a, Kersal Crag, Salford, Greater Manchester M7 4SL5
£640K11/201.18 mi51, Waterpark Road, Salford, Greater Manchester M7 4JL5
£298K11/201.19 mi6, Blyton Lane, Salford, Greater Manchester M7 3BR5
£620K06/211.35 mi183, Bury Old Road, Salford, Greater Manchester M7 4PZ5
£610K01/211.53 mi26, Danesway, Prestwich, Manchester, Greater Manchester M25 0FS5
£530K01/211.57 mi7, Castle Hill Road, Prestwich, Manchester, Greater Manchester M25 0FR5
£430K03/211.6 mi8, Fairway, Prestwich, Manchester, Greater Manchester M25 0JH5
£445K06/231.66 mi63, Park Road, Prestwich, Manchester, Greater Manchester M25 0EA5
£280K02/211.67 mi188, Derby Road, Salford, Greater Manchester M5 5NA5
£163K09/231.69 mi22, Milford Street, Salford, Greater Manchester M6 5GQ5
£410K06/221.71 mi1, Craigwell Road, Prestwich, Manchester, Greater Manchester M25 0EF5
£482.5K11/211.72 mi9, Bettwood Drive, Manchester, Greater Manchester M8 4JT5
£830K01/211.73 mi17, Sedgley Park Road, Prestwich, Manchester, Greater Manchester M25 0BJ5
£520K01/231.73 mi71, Butterstile Close, Prestwich, Manchester, Greater Manchester M25 9PH5
£315K04/231.77 mi4, Malvern Drive, Pendlebury, Manchester, Greater Manchester M27 8XT5
£260K11/221.78 mi37, Saddlecote Close, Manchester, Greater Manchester M8 5QE5
£350K05/211.78 mi49, Craigwell Road, Prestwich, Manchester, Greater Manchester M25 0FE5
£840K11/221.78 mi8, Barnhill Drive, Prestwich, Manchester, Greater Manchester M25 9WU5
£492K12/201.8 mi10, Beechwood Road, Prestwich, Manchester, Greater Manchester M25 0GL5
£500K11/201.83 mi127, Park Road, Prestwich, Manchester, Greater Manchester M25 0DU5
£715K04/231.84 mi32, Butt Hill Road, Prestwich, Manchester, Greater Manchester M25 9NJ5
£560K09/231.85 mi25, Lullington Road, Salford, Greater Manchester M6 8GW5
£339K03/211.87 mi71, Claremont Road, Salford, Greater Manchester M6 7GP5
£522.5K10/221.94 mi151, Claremont Road, Salford, Greater Manchester M6 8PA5
£435K12/201.94 mi173, Claremont Road, Salford, Greater Manchester M6 8PA5
£128K06/211.96 mi5, Cemetery Road, Salford, Greater Manchester M5 5WG5

Local Area Statistics

Population in M7

27,601

Population in Salford

88,697

Town centre distance

1.68 miles away

Nearest school

0.20 miles away

Nearest train station

0.95 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+36%

Sales demand

Seller's market

Capital growth (5yrs)

+38%

Property History

Listed for £290,000

October 24, 2024

Sold for £30,000

2003

Sold for £20,500

2001

Floor Plans

Description

  • HMO Liscense +
  • Online Auction +
  • Freehold +
  • Virtual Tour Available +
  • Popular Location +
  • Excellent Investment +

To be sold by online auction (conditional) on Friday 17th December 2024 with an 8 WEEK EXCHANGE, bidding will open at 10.00

This Licensed HMO offers a fantastic opportunity to the investment market to purchase a substantial property in a popular and convenient location. The property is offered to the market with vacant possession.

Upon entering the property, the entrance hall provides access to the ground floor reception space with bay-fronted living room enjoying traditional ceiling heights. There is a further room which could easily be utilised as a bedroom.

The kitchen provides ample space for dining and comprises; selection of wall and base units, sink with drainer and oven with hob and space for appliances.

The bedrooms are well proportioned with ample space for storage. There are three bedrooms to the first floor, with a bathroom. To the second floor, two further bedroom share a shower room.

Externally the property enjoys a large front garden and rear enclosed yard.

The property is offered via auction terms with vacant possession. See our virtual tour online and get in touch to arrange a viewing!

Key Details:
HMO License
Tenure: Freehold
EPC - D
Council Tax Band - A

Agent Details

Leaders Sales, Fallowfield

0161 524 9116

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪