3 Bed Semi-Detached House, Refurb/BRRR, Manchester, M35 0WT, £250,000

Somerset Road, Manchester, M35 0WT - 8 months ago

Sold STC
Refurb/BRRR
ROI: 8%
~93 m²
+13 photos

ValuationOvervalued

Sold Prices£133.2K - £335K
Sold Prices/m²£1.8K/m² - £3.5K/m²

 

 

Square Metres

~93 m²
Price/m²£2.7K/m²

Value Estimate

£228,466

 

 

End Value (After Refurb)

£240,635

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£16,200

Refurb Costs

£43,200

Bridging Loan Interest

£6,563

Total Cash In

£130,213

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£240,635

Mortgage (After Refinance)

£180,476

Mortgage LTV

75%

Cash Left In

£130,213

Equity

£60,159

Rent Range

£675 - £3,534

Rent Estimate

£2,022

Running Costs/mo

£1,176

Cashflow/mo

£846

Cashflow/yr

£10,147

ROI

8%

Gross Yield

10%

Local Sold Prices

50 sold prices from £133.2K to £335K, average is £219K. £1.8K/m² to £3.5K/m², average is £2.5K/m².

Price
Date
Distance
Address
Beds
 
£248K06/230.01 mi75, Somerset Road, Failsworth, Manchester, Greater Manchester M35 0WT3
£208K03/250.08 mi22, Norfolk Crescent, Failsworth M35 0WG3
£133.2K05/210.11 mi77, Farm Street, Failsworth, Manchester, Greater Manchester M35 0JT3
£280K01/230.12 mi17, Thorn Avenue, Failsworth, Manchester, Greater Manchester M35 0WP3
£180K04/210.12 mi23, Devon Road, Failsworth, Manchester, Greater Manchester M35 0NR3
£161.5K02/210.13 mi4, Dorset Road, Failsworth, Manchester, Greater Manchester M35 0NG3
£260K12/220.13 mi19, Devon Road, Failsworth, Manchester, Greater Manchester M35 0NR3
£268K01/250.14 mi39, Norfolk Crescent, Manchester M35 0WG3
£170K02/210.14 mi59, Norfolk Crescent, Failsworth, Manchester, Greater Manchester M35 0WS3
£300K06/240.14 mi25, Cosgrove Road, Manchester M35 0TF3
£220K07/230.16 mi10, Grove Avenue, Failsworth, Manchester, Greater Manchester M35 0JU3
£265K04/230.16 mi5, Grove Avenue, Failsworth, Manchester, Greater Manchester M35 0JU3
£220K03/250.16 mi90, Norfolk Crescent, Manchester M35 0NS3
£204.5K06/210.17 mi74, Norfolk Crescent, Failsworth, Manchester, Greater Manchester M35 0NS3
£155K02/210.17 mi88, Norfolk Crescent, Failsworth, Manchester, Greater Manchester M35 0NS3
£178K05/210.17 mi110, Norfolk Crescent, Failsworth, Manchester, Greater Manchester M35 0NS3
£260K01/230.17 mi1, Somerset Road, Failsworth, Manchester, Greater Manchester M35 0NU3
£196K12/240.19 mi2, Ollerton Drive, Failsworth, Manchester, Greater Manchester M35 0NP3
£202.5K02/210.19 mi12, Ollerton Drive, Failsworth, Manchester, Greater Manchester M35 0NP3
£225K03/210.2 mi16, Paddock Lane, Failsworth, Manchester, Greater Manchester M35 0NX3
£218K08/230.21 mi5, Brooks Drive, Failsworth, Manchester, Greater Manchester M35 0LS3
£185K12/220.21 mi17, Brooks Drive, Failsworth, Manchester, Greater Manchester M35 0LS3
£220K03/230.21 mi109, Miriam Street, Failsworth, Manchester, Greater Manchester M35 0JZ3
£138K02/210.21 mi86, Miriam Street, Failsworth, Manchester, Greater Manchester M35 0JZ3
£210K06/230.22 mi59, Brooks Drive, Failsworth, Manchester, Greater Manchester M35 0LZ3
£230K01/250.22 mi2, Wentworth Court, Manchester M35 0WL3
£170K09/210.23 mi153, Lord Lane, Failsworth, Manchester, Greater Manchester M35 0QH3
£195K03/210.23 mi161, Lord Lane, Failsworth, Manchester, Greater Manchester M35 0QH3
£226.6K09/240.23 mi20, Greaves Avenue, Failsworth M35 0NA3
£275K10/210.23 mi25, Paddock Lane, Failsworth, Manchester, Greater Manchester M35 0NY3
£189.9K03/250.24 mi16, Ogden Road, Manchester M35 0WN3
£174.9K11/210.25 mi52, Propps Hall Drive, Failsworth, Manchester, Greater Manchester M35 0LW3
£335K03/250.28 mi17, Birch Avenue, Manchester M35 0SE3
£200K11/240.28 mi1, Maple Grove, Failsworth M35 0QE3
£309.9K12/240.29 mi7, Rowan Close, Manchester M35 0ST3
£207K12/220.29 mi90, Lord Lane, Failsworth, Manchester, Greater Manchester M35 0SH3
£220K05/230.3 mi10, Marlborough Drive, Failsworth, Manchester, Greater Manchester M35 0LE3
£215K10/220.3 mi1, Propps Hall Drive, Failsworth, Manchester, Greater Manchester M35 0ND3
£268K07/230.3 mi65, Shaw Head Drive, Failsworth, Manchester, Greater Manchester M35 0SD3
£230K03/210.31 mi58, Shaw Head Drive, Failsworth, Manchester, Greater Manchester M35 0SB3
£200K11/210.32 mi2, Rings Close, Failsworth, Manchester, Greater Manchester M35 0SQ3
£190K04/210.32 mi49, Shaw Head Drive, Failsworth, Manchester, Greater Manchester M35 0SA3
£245K01/250.32 mi18, Newton Road, Manchester M35 0PH3
£235K08/210.32 mi22, Newton Road, Failsworth, Manchester, Greater Manchester M35 0PH3
£205K03/230.32 mi22, Hulmes Road, Failsworth, Manchester, Greater Manchester M35 0PL3
£235K12/220.33 mi85, Alan Avenue, Failsworth, Manchester, Greater Manchester M35 0PU3
£285K11/220.34 mi21, Alder Road, Failsworth, Manchester, Greater Manchester M35 0GH3
£270K08/230.34 mi286, Lord Lane, Failsworth, Manchester, Greater Manchester M35 0PG3
£220K06/210.35 mi83, Alan Avenue, Failsworth, Manchester, Greater Manchester M35 0PU3
£190K08/210.35 mi275, Lord Lane, Failsworth, Manchester, Greater Manchester M35 0PQ3

Local Rents

50 rents from £675/mo to £3.5K/mo, average is £1.4K/mo.

Rent
Date
Distance
Address
Beds
 
£1,22503/250.11 mi-3
£1,30005/250.12 miDevon Road, Failsworth, Manchester3
£1,30009/240.16 miSomerset Road, Manchester3
£1,35006/250.16 mi-3
£3,53405/240.17 mi-3
£3,53402/240.17 mi-3
£3,46002/240.17 mi-3
£3,53405/240.17 mi-3
£3,53406/240.17 mi-3
£3,46006/240.17 mi-3
£3,53408/240.17 mi-3
£3,53408/240.17 mi-3
£3,46005/240.17 mi-3
£3,53409/240.17 mi-3
£3,46008/240.17 mi-3
£3,46009/240.17 mi-3
£3,53410/240.17 mi-3
£3,46011/240.17 mi-3
£3,53401/250.17 mi-3
£2,80009/240.19 mi-3
£1,15007/240.2 miRegent Crescent, Failsworth, Manchester3
£85007/250.2 miGreaves Avenue, Failsworth, Manchester M353
£1,40007/240.23 miProspect drive, Failsworth, Manchester3
£1,35006/250.23 miFarm Street, Failsworth, Manchester3
£1,25005/240.23 mi-3
£1,25004/250.23 mi-3
£1,30007/250.24 miPaddock Lane, Newton Heath, M353
£97507/250.25 miBirch Avenue, Failsworth, Manchester3
£1,45008/240.25 miBirch Avenue, Failsworth, Manchester3
£1,35007/250.25 miBirch Avenue, Failsworth, Manchester3
£1,39506/250.25 miASHWORTH STREET, Failsworth, Manchester, Greater Manchester, M353
£1,45007/250.27 mi-3
£1,47507/240.27 mi-3
£1,47506/240.27 miGreaves Avenue, Manchester, M353
£1,00008/240.28 mi-3
£1,10005/250.29 mi-3
£1,30001/250.3 mi-3
£1,10006/240.32 mi-3
£1,20005/240.34 miLord Lane, Failsworth, Manchester3
£1,50009/240.35 mi-3
£67507/250.35 miPoplar Street, Failsworth, Manchester3
£89507/250.36 miLord Lane, Failsworth, Manchester3
£1,15005/240.37 miLord Lane, Failsworth3
£1,15005/240.37 miWoodlands, Failsworth3
£1,20007/240.37 mi-3
£1,30007/240.37 miWoodlands, Failsworth, Manchester, M353
£1,20005/250.37 mi-3
£85007/250.38 miWoodlands, Failsworth, Manchester, M353
£1,05007/240.38 miBrookdale Street, Failsworth, M353
£3,00011/240.39 mi-3

Local Area Statistics

Population in M35

20,671

Population in Manchester

920,095

Town centre distance

4.82 miles away

Nearest school

0.20 miles away

Nearest train station

0.63 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Seller's market

Capital growth (5yrs)

+54%

Property History

Price changed to £250,000

January 27, 2025

Listed for £260,000

November 19, 2024

Floor Plans

Description

  • 3 Bed Semi +
  • Garage +
  • Sought After Location +

The Property
81 Somerset Road is a traditional three-bedroom semi-detached home that offers a fantastic opportunity for those looking to put their own stamp on a property. The house features a practical layout with plenty of potential for modernisation and updates, making it an ideal choice for buyers with a creative vision.

The property includes three good-sized bedrooms, offering plenty of sleeping and storage space. The main living areas are designed for comfort and convenience, with a light and airy feel that makes the home welcoming and bright. The kitchen and dining areas provide a functional space for family meals and entertaining guests.

One of the standout features of this property is the outdoor space. A private driveway leads to a single garage, providing secure parking and additional storage options. The garden, with plenty of potential for landscaping, offers a pleasant outdoor area for children to play or for hosting summer barbecues.

Located in a well-established residential area, 81 Somerset Road benefits from proximity to local schools, parks, and community amenities. It is a great location for families, with a friendly neighbourhood atmosphere and good access to public transport and major road links.

This property presents an exciting opportunity to create a beautiful family home in a convenient Manchester location. Its chain-free status makes it an attractive choice for those looking to move quickly or for buyers seeking an investment with no complications. Don't miss out on this versatile and well-located home with great potential.

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.

Agent Details

Purplebricks, covering Manchester

0161 524 9265

Next Steps?

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