6 Bed HMO, Salford, M5 4PF, £475,000

The Crescent, Salford, M5 4PF - 16 views - 4 months ago

HMO
ROI: 8%
~186 m²
+12 photos

ValuationFair Value

Sold Prices£100K - £1.3M
Sold Prices/m²£654/m² - £6.4K/m²

 

 

Square Metres

~186 m²
Price/m²£2.6K/m²

Value Estimate

£473,754

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£118,750

Stamp Duty & Legal Fees

£26,700

Total Cash In

£145,450

 

 

Cash Out

 

Room Rate

£672

Gross Rent

£4,032

Running Costs/mo

£3,050

Cashflow/mo

£982

Cashflow/yr

£11,786

ROI

8%

Gross Yield

10%

Local Sold Prices

36 sold prices from £100K to £1.3M, average is £615K. £654/m² to £6.4K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£306K01/211.29 mi10, Grassfield Avenue, Salford, Greater Manchester M7 1HW6
£330K06/231.59 mi15, Barrfield Road, Salford, Greater Manchester M6 7EL6
£320K10/221.59 mi19, Barrfield Road, Salford, Greater Manchester M6 7EL6
£410K12/201.73 mi5, Broughton Green Square, Salford, Greater Manchester M7 2GH6
£500K06/211.87 mi94, Northumberland Street, Salford, Greater Manchester M7 4DR6
£690K10/231.95 mi441, Bury New Road, Salford, Greater Manchester M7 4LE6
£415.5K12/222.03 mi89, Claremont Road, Salford, Greater Manchester M6 7GP6
£500K06/212.04 mi8, Kersal Bank, Salford, Greater Manchester M7 4NR6
£720K10/202.06 mi22, New Hall Road, Salford, Greater Manchester M7 4HQ6
£645K06/212.15 mi13, New Hall Avenue, Salford, Greater Manchester M7 4JY6
£420K08/222.18 mi36, Greene Way, Salford, Greater Manchester M7 3BP6
£675K01/242.18 mi238, Upper Chorlton Road, Manchester, Greater Manchester M16 0BJ6
£810K10/212.3 mi63, Singleton Road, Salford, Greater Manchester M7 4NA6
£585K03/212.32 mi69, Upper Park Road, Salford, Greater Manchester M7 4JB6
£1.0M01/212.32 mi41, Upper Park Road, Salford, Greater Manchester M7 4JB6
£810K11/232.35 mi33, Cavendish Road, Salford, Greater Manchester M7 4WP6
£450K10/222.52 mi20, St Marys Hall Road, Manchester, Greater Manchester M8 5DZ6
£365K10/202.55 mi4, Wilton Avenue, Prestwich, Manchester, Greater Manchester M25 0HD6
£360K06/212.58 mi28, Hilton Crescent, Prestwich, Manchester, Greater Manchester M25 9NQ6
£460K09/212.62 mi6, Appleyard Close, Swinton, Manchester, Greater Manchester M27 8AZ6
£925K05/222.66 mi16, Castle Hill Road, Prestwich, Manchester, Greater Manchester M25 0FR6
£525K05/212.68 mi70, Keppel Road, Manchester, Greater Manchester M21 0BW6
£495K12/222.69 mi29, Snowdon Road, Eccles, Manchester, Greater Manchester M30 9AS6
£675K09/212.7 mi237, Rye Bank Road, Chorlton Cum Hardy, Manchester, Greater Manchester M21 9LU6
£690K09/212.74 mi308, Wilbraham Road, Fallowfield, Manchester, Greater Manchester M21 0UU6
£350K05/212.75 mi14, Derbyshire Lane, Stretford, Manchester, Greater Manchester M32 8BJ6
£931K08/232.75 mi18, Silverdale Road, Manchester, Greater Manchester M21 0SH6
£665K03/212.84 mi87, Park Road, Prestwich, Manchester, Greater Manchester M25 0DX6
£850K02/212.84 mi4, Chandos Road South, Manchester, Greater Manchester M21 0TF6
£925K10/232.86 mi562, Wilbraham Road, Manchester, Greater Manchester M21 9LB6
£820K12/232.91 mi10, Clifton Road, Manchester, Greater Manchester M21 8UX6
£100K07/232.92 mi43, Kensington Avenue, Manchester, Greater Manchester M14 5PG6
£270K02/212.95 mi63, Cleveland Road, Crumpsall, Manchester, Greater Manchester M8 4GT6
£1.1M11/222.97 mi63, High Lane, Manchester, Greater Manchester M21 9EE6
£1.1M11/212.97 mi28, Half Edge Lane, Eccles, Manchester, Greater Manchester M30 9GJ6
£1.3M08/233 mi22, Hartington Road, Manchester, Greater Manchester M21 8UY6

Local Area Statistics

Population in M5

14,445

Population in Salford

88,697

Town centre distance

2.12 miles away

Nearest school

0.20 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Buyer's market

Capital growth (5yrs)

+6%

Property History

Listed for £475,000

November 29, 2024

Floor Plans

Description

  • Investment/Development opportunity +
  • Previous planning granted for 6 bed HMO +
  • Parking for up to 4 Cars +
  • 4 Stories +
  • Grade II Listed frontage +
  • A few minutes' walk to Salford University +
  • Ten minutes' Walk to Manchester City Centre +
  • Good transport links +

DESCRIPTION Presenting a rare opportunity for Development/Investment!

Currently under Class A2 commercial use but has had previous planning consent for a 6 bed HMO (House of Multiple Occupancy) residential development. Other properties on The Crescent have also been successfully converted to 7 bed HMO's.

The property could also be an amazing single dwelling or split into apartments! Offering over 2000sqft of internal space along with parking for up to 4 cars at the rear of the building.

The front of the building is Grade II Listed and the ground, first and second floors all benefit from high ceilings and large sash windows. The property is currently split over 4 levels including basement level and is set up for commercial office use so could be used or rented out as it is, immediately. The basement level is currently split into two rooms, the ground level has 3 office spaces, a kitchen and WC. The first and second floors both have two large office spaces and WCs/bathrooms.

Agent Details

Julie Twist Properties, Manchester

0161 524 0829

Next Steps?

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

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