3 Bed Semi-Detached House, Refurb/BRRR, Oldham, OL8 4JF, £240,000

66 Merton Avenue, Oldham, Greater Manchester, OL8 4JF - 3 views - 4 months ago

Sold STC
Refurb/BRRR
Planning
ROI: 2%
~93 m²
+8 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£8,400

Refurb Costs

£39,200

Bridging Loan Interest

£6,300

Total Cash In

£115,650

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£205,250

Mortgage (After Refinance)

£153,938

Mortgage LTV

75%

Cash Left In

£115,650

Equity

£51,313

Rent Range

£775 - £1,295

Rent Estimate

£1,072

Running Costs/mo

£876

Cashflow/mo

£196

Cashflow/yr

£2,354

ROI

2%

Gross Yield

5%













Local Rents

18 rents from £775/mo to £1.3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,09510/240.09 mi-3
£1,10001/240.17 mi-3
£1,22507/240.22 miDurban Mill, Oldham, OL83
£1,29506/240.25 miDurban Mill, Oldham3
£1,29506/240.25 miDurban Mill, Oldham3
£1,29506/240.25 miDurban Mill, Oldham3
£1,19503/250.27 mi-3
£77506/240.29 miCheviot Avenue, Coppice, Oldham, OL83
£1,00006/240.31 miHollins Road, Oldham, OL83
£1,00007/240.32 miPenrith Avenue, Manchester3
£99508/240.34 miHollins Road, Oldham, Lancashire, OL83
£1,29508/240.39 miMillbank Close, Royd Mill, OL83
£1,07506/240.39 miMillbank Close, Oldham, OL8 4AW3
£1,02504/240.47 mi-3
£95008/240.5 miChapel Road, Hollinwood, Oldham3
£1,00007/240.51 miCroft Street, Little Hulton, Manchester3
£95004/240.53 mi-3
£1,24503/250.61 mi-3

Local Area Statistics

Population in OL8

39,658

Population in Oldham

182,174

Town centre distance

2.04 miles away

Nearest school

0.10 miles away

Nearest train station

1.02 miles away

 

 

Rental growth (12m)

+42%

Sales demand

Balanced market

Capital growth (5yrs)

+38%

Property History

Listed for £240,000

November 28, 2024

Sold for £58,000

1996

Floor Plans

Description

  • CHAIN FREE +
  • BLANK CANVAS +
  • POTENTIAL TO EXTEND +
  • TWO RECEPTION ROOMS +
  • VERSATILE LOFT ROOM +
  • DRVEWAY & GARAGE +
  • OVERLOOKS PLAYING FIELDS +
  • COUNCIL TAX BAND C +
  • FREEHOLD +
  • EPC D +

Spacious semi-detached home with no onward chain, offering excellent potential for modernisation and extension on a generous plot in a sought-after location. EPC - D

Ryder & Dutton are delighted to offer this spacious semi-detached property for sale, boasting NO ONWARD CHAIN and stunning views over playing fields.

This property offers a fantastic opportunity for those looking to modernize and create their dream home. Occupying a generous plot, it provides potential for further development, subject to the necessary planning permissions.

The ground floor comprises a porch, welcoming entrance hallway, lounge, dining room, and kitchen. Upstairs, you’ll find a contemporary shower room and three well-proportioned bedrooms. Additionally, a versatile fully boarded loft room with a window is accessible via a pull-down ladder, offering excellent potential for a variety of uses.

The property features a long driveway to a spacious detached garage, ample off-road parking, and a substantial south-facing rear garden perfect for outdoor living, with excellent potential for extension.

Located in the sought-after area of Hollins in Oldham, this property enjoys excellent proximity to local amenities, including small shops, supermarkets, and the prestigious Hulme Grammar School, which is within walking distance. Oldham town centre is also just a 5-10 minute drive away, offering further shopping, dining, and transport links.

This property is perfect for those seeking a project in a prime location—early viewing is highly recommended!

Agent Details

Ryder & Dutton, Oldham

0161 524 8531

Next Steps?

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