2 Bed Terraced House, Refurb/BRRR, Manchester, M11 1LQ, £135,000

5 Montana Square, Manchester, M11 1BQ - 2 views - 5 months ago

Sold STC
Refurb/BRRR
ROI: 7%
70 m²
+10 photos

ValuationOvervalued

Sold Prices£69K - £222K
Sold Prices/m²£1.1K/m² - £4.7K/m²

 

 

Square Metres

70 m²
Price/m²£1.9K/m²

Value Estimate

£106,250

 

 

End Value (After Refurb)

£118,588

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£5,250

Refurb Costs

£29,599

Bridging Loan Interest

£3,544

Total Cash In

£73,893

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£118,588

Mortgage (After Refinance)

£88,941

Mortgage LTV

75%

Cash Left In

£73,893

Equity

£29,647

Rent Range

£825 - £1,350

Rent Estimate

£1,012

Running Costs/mo

£593

Cashflow/mo

£419

Cashflow/yr

£5,028

ROI

7%

Gross Yield

9%

Local Sold Prices

50 sold prices from £69K to £222K, average is £127K. £1.1K/m² to £4.7K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£140K02/240.07 mi47, Courier Street, Manchester, Greater Manchester M18 8SY2
£144K04/210.1 mi46, Delamere Street, Manchester, Greater Manchester M11 1JY2
£129K06/230.12 mi43, Walter Street, Abbey Hey, Manchester, Greater Manchester M18 8SW2
£105K02/240.12 mi29, Walter Street, Abbey Hey, Manchester, Greater Manchester M18 8SW2
£105K01/210.13 mi28, Vine Street, Manchester, Greater Manchester M11 1LJ2
£138K05/240.13 mi46, Walter Street, Abbey Hey, Manchester, Greater Manchester M18 8SN2
£112K12/210.13 mi20, Walter Street, Abbey Hey, Manchester, Greater Manchester M18 8SN2
£110K12/200.14 mi105, Abbey Hey Lane, Abbey Hey, Manchester, Greater Manchester M18 8TJ2
£100K11/200.14 mi46, Butman Street, Manchester, Greater Manchester M18 8TG2
£100K11/200.14 mi46, Butman Street, Manchester, Greater Manchester M18 8TG2
£141K07/230.15 mi8, Gordon Street, Abbey Hey, Manchester, Greater Manchester M18 8SL2
£125K07/210.15 mi36, Gordon Street, Abbey Hey, Manchester, Greater Manchester M18 8SL2
£130K03/240.15 mi13, Gordon Street, Abbey Hey, Manchester, Greater Manchester M18 8SL2
£115K01/230.15 mi19, Gordon Street, Abbey Hey, Manchester, Greater Manchester M18 8SL2
£110.5K06/210.16 mi70, Ackroyd Street, Manchester, Greater Manchester M11 1WT2
£155K02/230.17 mi3, Kenyon Street, Manchester, Greater Manchester M18 8SH2
£138K07/220.19 mi7, Franklyn Road, Manchester, Greater Manchester M18 8QX2
£102.5K11/200.22 mi52, Madison Street, Manchester, Greater Manchester M18 8SD2
£145K12/230.23 mi41, Corrigan Street, Manchester, Greater Manchester M18 8QS2
£160.2K06/230.24 mi4, Ernocroft Grove, Manchester, Greater Manchester M18 8GB2
£110K01/210.25 mi213, Abbey Hey Lane, Abbey Hey, Manchester, Greater Manchester M18 8TN2
£115K12/200.25 mi24, Sandown Street, Manchester, Greater Manchester M18 8SA2
£108K10/200.26 mi328, Abbey Hey Lane, Abbey Hey, Manchester, Greater Manchester M18 8RP2
£95K04/210.26 mi290, Abbey Hey Lane, Abbey Hey, Manchester, Greater Manchester M18 8RP2
£161K11/220.26 mi20, Tinningham Close, Manchester, Greater Manchester M11 1NB2
£125K05/210.28 mi2, Violet Street, Manchester, Greater Manchester M18 8TU2
£125K05/210.28 mi2, Violet Street, Manchester, Greater Manchester M18 8TU2
£135K03/230.28 mi297, Abbey Hey Lane, Abbey Hey, Manchester, Greater Manchester M18 8RH2
£222K02/230.29 mi15, Brinklow Close, Manchester, Greater Manchester M11 1NH2
£160K05/230.29 mi201, Lees Street, Abbey Hey, Manchester, Greater Manchester M18 8GA2
£108K04/210.29 mi208, Lees Street, Abbey Hey, Manchester, Greater Manchester M18 8QN2
£155K01/240.3 mi89, Lees Street, Openshaw, Manchester, Greater Manchester M11 1NW2
£150K10/220.3 mi53, Harrop Street, Manchester, Greater Manchester M18 8RN2
£135K03/230.31 mi18, Gidlow Street, Manchester, Greater Manchester M18 8GE2
£90K12/230.32 mi12, Bread Street, Manchester, Greater Manchester M18 8QF2
£89K11/200.33 mi4, Burman Street, Manchester, Greater Manchester M11 1EY2
£80K06/240.35 mi34, Longford Street, Manchester, Greater Manchester M18 8GQ2
£69K12/200.35 mi70, Longford Street, Manchester, Greater Manchester M18 8GQ2
£174K12/220.36 mi19, Aysgarth Avenue, Manchester, Greater Manchester M18 8RA2
£132.1K01/230.41 mi54, Wheler Street, Manchester, Greater Manchester M11 1DF2
£118.5K10/220.42 mi77, Wheler Street, Manchester, Greater Manchester M11 1DT2
£137K06/210.44 mi63, Field Street, Droylsden, Manchester, Greater Manchester M43 6AP2
£118K12/200.44 mi35, Field Street, Droylsden, Manchester, Greater Manchester M43 6AP2
£112K01/210.44 mi47, Field Street, Droylsden, Manchester, Greater Manchester M43 6AP2
£150K02/230.44 mi94, Edge Lane, Droylsden, Manchester, Greater Manchester M43 6BA2
£130K12/200.44 mi26, Ewan Street, Manchester, Greater Manchester M18 8WS2
£130K12/200.44 mi26, Ewan Street, Manchester, Greater Manchester M18 8WS2
£90K12/230.45 mi12, Hollybush Street, Manchester, Greater Manchester M18 8PS2
£145K01/230.45 mi126, Edge Lane, Droylsden, Manchester, Greater Manchester M43 6BA2
£145K07/230.45 mi47, Carberry Road, Manchester, Greater Manchester M18 8PR2

Local Rents

45 rents from £825/mo to £1.4K/mo, average is £975/mo.

RentDateDistanceAddressBeds 
£95005/240.01 mi-2
£95005/240.01 miMontana Square, Manchester, M112
£90012/240.06 mi-2
£87012/240.14 mi-2
£87012/240.14 mi-2
£1,29912/240.15 mi-2
£90002/240.15 mi-2
£90002/240.15 mi-2
£1,15005/240.16 miGrapevine Avenue, Manchester, Greater Manchester, M182
£1,20003/250.16 mi-2
£1,00005/240.17 mi-2
£1,00005/240.17 miCampbell House, Ashton Road, Openshaw2
£1,02505/240.17 miCampbell House, Ashton Road, Openshaw2
£90012/240.18 mi-2
£95005/240.18 miJetson Street, Manchester2
£1,35005/240.2 mi-2
£1,00005/240.21 miAshton Old Road, Manchester, Greater Manchester, M112
£89505/240.22 miMadison Street, Abbey Hey, Manchester, Greater Manchester, M182
£97512/240.22 mi-2
£95005/240.23 mi-2
£95006/240.23 mi-2
£95012/240.23 mi-2
£1,25012/240.27 mi-2
£1,10012/240.29 mi-2
£1,20003/250.3 mi-2
£85005/240.31 mi-2
£87512/240.33 mi-2
£82505/240.33 mi4 Maybury Street, Manchester, Greater Manchester, M18 8GP2
£95005/240.35 miLongford Street, Manchester, M182
£1,05012/240.42 mi-2
£92510/240.44 mi-2
£1,20005/240.44 mi-2
£90005/240.46 miHawthorn Street, Gorton, MANCHESTER, M182
£97506/240.5 miOld Lane, Manchester, M112
£1,05002/250.53 mi-2
£1,05003/250.53 mi-2
£1,30004/240.54 mi-2
£99501/250.55 mi-2
£1,20012/240.56 mi-2
£1,15005/240.59 miHigh Bank Road, Droylsden, Manchester, M432
£95006/240.6 miAcheson Street, Manchester2
£1,00005/240.6 miHigh Bank Road, Droylsden, Manchester, M43 6ET2
£95005/240.61 mi-2
£1,05011/240.61 mi-2
£85003/250.62 mi-2

Local Area Statistics

Population in M11

20,273

Population in Manchester

920,095

Town centre distance

3.86 miles away

Nearest school

0.10 miles away

Nearest train station

0.34 miles away

 

 

Rental growth (12m)

+112%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £135,000

October 28, 2024

Floor Plans

Description

This delightful 2-bedroom terraced house in the heart of Openshaw offers a fantastic opportunity for those looking to put their own stamp on a property. Requiring a bit of renovation but nothing major, it provides a solid foundation to create a comfortable home or a smart investment. As you approach the property, you’ll notice a small front garden, offering a bit of greenery and privacy, ensuring you're not stepping directly into the house from the street. The entrance leads into a welcoming living space that sets the tone for the rest of the house. The large kitchen diner is the heart of this home, providing ample space for both cooking and dining. It’s perfect for entertaining or family meals, with plenty of room to update or modernize to your personal taste. Upstairs, you’ll find two well-proportioned bedrooms, each offering a cozy retreat. Both rooms provide the flexibility to create a comfortable living space or a functional home office. To the rear, there is a yard that offers outdoor space for relaxing or perhaps a spot of gardening, making it ideal for those who enjoy spending time outside. Location is key, and this property does not disappoint. Situated just off Ashton Old Road, you’ll have excellent transport links and local amenities right at your doorstep. Moreover, families will be pleased to know that the property is in close proximity to an 'outstanding' Ofsted-rated school, making it a great option for those with young children. This house is perfect for anyone looking for a home that they can truly make their own, with the added benefit of a great location in a vibrant community. Don't miss this opportunity to create your dream home in a sought-after area!

Agent Details

Jacob Knight, Manchester

0161 524 8470

Next Steps?

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