3 Bed Semi-Detached House, Refurb/BRRR, Manchester, M40 1PJ, £170,000

Albert Gardens, Newton Heath, Manchester, Greater Manchester, M40 1PJ - 10 views - 5 months ago

Sold STC
Refurb/BRRR
ROI: 13%
~93 m²
+11 photos

ValuationFair Value

Sold Prices£90K - £340K
Sold Prices/m²£1.1K/m² - £4K/m²

 

 

Square Metres

~93 m²
Price/m²£1.8K/m²

Value Estimate

£171,607

 

 

End Value (After Refurb)

£158,212

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£42,500

Stamp Duty & Legal Fees

£6,300

Refurb Costs

£39,324

Bridging Loan Interest

£4,463

Total Cash In

£94,337

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£158,212

Mortgage (After Refinance)

£118,659

Mortgage LTV

75%

Cash Left In

£94,337

Equity

£39,553

Rent Range

£900 - £3,534

Rent Estimate

£1,941

Running Costs/mo

£903

Cashflow/mo

£1,038

Cashflow/yr

£12,461

ROI

13%

Gross Yield

14%

Local Sold Prices

50 sold prices from £90K to £340K, average is £170K. £1.1K/m² to £4K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£124K11/200.05 mi28, Albert Gardens, Manchester, Greater Manchester M40 1PJ3
£120K12/200.05 mi17, Albert Gardens, Manchester, Greater Manchester M40 1PJ3
£190K09/210.05 mi25, Crammond Close, Manchester, Greater Manchester M40 1PL3
£165K07/230.08 mi75, Averill Street, Manchester, Greater Manchester M40 1PH3
£141.2K11/200.09 mi55, Miriam Street, Failsworth, Manchester, Greater Manchester M35 0LA3
£110K08/210.1 mi25, Rossington Street, Manchester, Greater Manchester M40 1PG3
£131K11/200.1 mi86, Gaskell Street, Manchester, Greater Manchester M40 1NS3
£118K04/210.11 mi6, Leng Road, Manchester, Greater Manchester M40 1WX3
£155K05/230.11 mi16, Leng Road, Manchester, Greater Manchester M40 1WX3
£150K12/230.11 mi62, Leng Road, Manchester, Greater Manchester M40 1WX3
£175K03/230.12 mi40, Rossington Street, Manchester, Greater Manchester M40 1PQ3
£111.5K12/200.15 mi146, Gaskell Street, Manchester, Greater Manchester M40 1BF3
£180K05/230.18 mi134, Droylsden Road, Manchester, Greater Manchester M40 1NZ3
£220K03/230.18 mi109, Miriam Street, Failsworth, Manchester, Greater Manchester M35 0JZ3
£138K02/210.18 mi86, Miriam Street, Failsworth, Manchester, Greater Manchester M35 0JZ3
£150K12/200.18 mi52, Miriam Street, Failsworth, Manchester, Greater Manchester M35 0JZ3
£145K12/200.2 mi19, Wallis Street, Manchester, Greater Manchester M40 1NU3
£195K03/210.2 mi131, Droylsden Road, Manchester, Greater Manchester M40 1NT3
£132K10/200.21 mi43, Terence Street, Manchester, Greater Manchester M40 1QD3
£200K03/210.21 mi114, Droylsden Road, Manchester, Greater Manchester M40 1WT3
£210K06/230.23 mi59, Brooks Drive, Failsworth, Manchester, Greater Manchester M35 0LZ3
£143K11/220.24 mi38, Poplar Street, Failsworth, Manchester, Greater Manchester M35 0HY3
£179K02/230.24 mi34, Poplar Street, Failsworth, Manchester, Greater Manchester M35 0HY3
£185K01/230.25 mi48, Poplar Street, Failsworth, Manchester, Greater Manchester M35 0HY3
£139.9K04/210.25 mi32, Poplar Street, Failsworth, Manchester, Greater Manchester M35 0HY3
£133.2K05/210.26 mi77, Farm Street, Failsworth, Manchester, Greater Manchester M35 0JT3
£190K12/200.27 mi22, Sparth Road, Manchester, Greater Manchester M40 1QH3
£340K01/230.28 mi20, Sparth Road, Manchester, Greater Manchester M40 1QH3
£174K12/220.28 mi25, Jackson Street, Failsworth, Manchester, Greater Manchester M35 0HX3
£115K08/210.28 mi25, Jackson Street, Failsworth, Manchester, Greater Manchester M35 0HX3
£170K09/200.29 mi15, Bradshaw Avenue, Failsworth, Manchester, Greater Manchester M35 0JY3
£138K12/200.3 mi1414, Oldham Road, Manchester, Greater Manchester M40 1EZ3
£174K12/220.3 mi66, Culcheth Lane, Manchester, Greater Manchester M40 1LU3
£210K12/200.32 mi1, Brookdale Avenue, Manchester, Greater Manchester M40 1GH3
£180K06/210.33 mi10, Graver Lane, Manchester, Greater Manchester M40 1QL3
£176K02/230.33 mi14, Marguerita Road, Manchester, Greater Manchester M40 1QJ3
£170K09/210.34 mi15, Oakley Close, Manchester, Greater Manchester M40 1JT3
£170K06/230.34 mi11, Innis Avenue, Manchester, Greater Manchester M40 1JR3
£174.9K11/210.35 mi52, Propps Hall Drive, Failsworth, Manchester, Greater Manchester M35 0LW3
£218K08/230.36 mi5, Brooks Drive, Failsworth, Manchester, Greater Manchester M35 0LS3
£185K12/220.36 mi17, Brooks Drive, Failsworth, Manchester, Greater Manchester M35 0LS3
£248K06/230.36 mi75, Somerset Road, Failsworth, Manchester, Greater Manchester M35 0WT3
£115K04/210.37 mi4, Scotland Street, Manchester, Greater Manchester M40 1LJ3
£151.3K12/220.37 mi41, Derbyshire Road, Manchester, Greater Manchester M40 1QN3
£189K05/210.37 mi41, Derbyshire Road, Manchester, Greater Manchester M40 1QN3
£245K07/230.37 mi22, Derbyshire Road, Manchester, Greater Manchester M40 1QN3
£220K04/230.38 mi22, Assheton Crescent, Manchester, Greater Manchester M40 1NN3
£124K11/200.39 mi2, Holyrood Street, Manchester, Greater Manchester M40 1QP3
£90K12/200.4 mi58, Marlborough Drive, Failsworth, Manchester, Greater Manchester M35 0LE3
£220K05/230.4 mi10, Marlborough Drive, Failsworth, Manchester, Greater Manchester M35 0LE3

Local Rents

52 rents from £900/mo to £3.5K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,30001/250.06 mi-3
£1,20003/250.08 mi-3
£1,25005/240.14 mi-3
£1,25003/250.14 mi-3
£1,20007/240.16 miLoring Street, M403
£1,47507/240.17 mi-3
£1,47506/240.17 miGreaves Avenue, Manchester, M353
£90005/240.2 mi-3
£90005/240.2 miDroylsden Road, Manchester, M403
£2,80009/240.21 mi-3
£3,53405/240.22 mi-3
£3,53402/240.22 mi-3
£3,46002/240.22 mi-3
£3,53405/240.22 mi-3
£3,53406/240.22 mi-3
£3,46006/240.22 mi-3
£3,53408/240.22 mi-3
£3,53408/240.22 mi-3
£3,46005/240.22 mi-3
£3,53409/240.22 mi-3
£3,46008/240.22 mi-3
£3,46009/240.22 mi-3
£3,53410/240.22 mi-3
£3,46011/240.22 mi-3
£3,53401/250.22 mi-3
£3,53401/250.22 mi-3
£3,53401/250.22 mi-3
£1,45004/240.24 mi-3
£1,45005/240.24 miAlbert Street West, Failsworth, Manchester, M353
£1,45008/240.24 mi-3
£1,45007/240.24 miAlbert Street West, Failsworth, Manchester, M353
£1,10006/240.26 miVictoria Street, Failsworth, Manchester3
£1,20003/250.27 mi-3
£1,22503/250.29 mi-3
£1,05009/240.3 miGrange Street, Failsworth, Oldham, M353
£1,35007/240.32 miFrank Birchall Close, Manchester3
£1,00008/240.33 mi-3
£1,30002/240.35 mi-3
£1,15012/240.36 mi-3
£1,44005/240.38 mi-3
£94907/240.38 mi-3
£1,20005/240.38 mi-3
£1,29508/240.38 miAssheton Road, Manchester, M403
£1,29509/240.38 mi-3
£1,30008/240.39 miDerbyshire Road, Manchester, M403
£1,30008/240.39 mi-3
£1,20005/240.4 miAssheton Road, Newton Heath, Manchester3
£1,05007/240.41 miBrookdale Street, Failsworth, M353
£1,15007/240.42 miRegent Crescent, Failsworth, Manchester3
£1,15008/240.43 miBriscoe Lane, Manchester, M403
£1,15009/240.43 mi-3
£1,15008/240.43 miBriscoe Lane, Manchester, M403

Local Area Statistics

Population in M40

40,888

Population in Manchester

920,095

Town centre distance

4.54 miles away

Nearest school

0.20 miles away

Nearest train station

0.57 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+28%

Sales demand

Seller's market

Capital growth (5yrs)

+73%

Property History

Listed for £170,000

November 1, 2024

Floor Plans

Description

  • NO CHAIN +
  • THREE BEDROOMS +
  • OFF-STREET PARKING +
  • CUL-DE-SAC LOCATION +
  • IN NEED OF REFURBISHMENT +
  • CLOSE TO MANCHESTER CITY CENTRE +
  • COUNCIL TAX: B | EPC: F +
  • FREEHOLD +

NO CHAIN - Whilst in need of some internal refurbishment, this three bedroom semi-detached oozes with potential. EPC: F

OFFERED FOR SALE WITH NO VENDOR CHAIN.

Enjoying a pleasant position on a quiet cul-de-sac, this three bedroom semi-detached would make an ideal purchase for first time buyers.

Positioned on Albert Gardens in Newton Heath, right on the Failsworth border, the property features driveway parking with a good sized, easy maintenance garden to the rear and benefits from not being overlooked.

Internally the property does require some modernising to taste but affords a blank canvas for prospective buyers to move in and put their own stamp on. To the ground floor there is a small hallway with a large lounge to the left. To the rear is a good sized kitchen/diner space with a large garden room with double doors into the garden. To the first floor there are three bedrooms - two doubles and one single - with a three piece bathroom completing the accommodation.

Found just off Averill Street in Newton Heath, the property is less than four miles outside of the Manchester city centre and is well serviced by the amenities of the local area. With excellent transport routes available into the city, there are well-regarded schools nearby as well as plenty of local shops, Clayton Vale within one mile and Brookdale Park within walking distance.

Please note: The property does not benefit from central heating.

Agent Details

Ryder & Dutton, Chadderton

0161 524 3010

Next Steps?

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