2 Bed Flat, Single Let, Manchester, M4 5DB, £150,000

Oldham Road, Manchester, M4 5DB - 1 views - 3 months ago

Leasehold

BTL

ROI: 8%

~68 m²

ValuationUndervalued

Sold Prices	£130K - £487K
Sold Prices/m²	£2.4K/m² - £4.2K/m²

Square Metres	~68.11 m²
Price/m²	£2.2K/m²
Value Estimate	£180,000£180,000
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£37,500£37,500
Stamp Duty & Legal Fees	£5,700£5,700
Total Cash In	£43,200£43,200

Cash Out
Rent Range	£730 - £2,000£730 - £2,000
Rent Estimate	£989
Running Costs/mo	£687£687
Cashflow/mo	£302£302
Cashflow/yr	£3,629£3,629
ROI	8%8%
Gross Yield	8%8%

Local Sold Prices

22 sold prices from £130K to £487K, average is £205.3K. £2.4K/m² to £4.2K/m², average is £3.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£487K	03/23	0.15 mi	11, Marshall Street, Manchester, Greater Manchester M4 5FU	£3,555	137	2	Flat
£257K	10/21	0.18 mi	Flat 50, M M2 Apartments, Pickford Street, Manchester, Greater Manchester M4 5BS	-	-	2	Flat
£270K	05/23	0.46 mi	17, William Jessop Court, Manchester, Greater Manchester M1 2NE	£3,462	78	2	Flat
£270K	03/21	0.48 mi	4, John Smeaton Court, Manchester, Greater Manchester M1 2NR	£4,219	64	2	Flat
£220K	01/24	0.64 mi	Block D, Apartment 59, Pollard Street, Manchester, Greater Manchester M4 7AT	£3,607	61	2	Flat
£250K	11/23	0.66 mi	Flat 25, Sackville Place, Bombay Street, Manchester, Greater Manchester M1 7AT	-	-	2	Flat
£213K	03/21	0.66 mi	Flat 51, Sackville Place, Bombay Street, Manchester, Greater Manchester M1 7AT	-	-	2	Flat
£220K	12/22	0.69 mi	Apartment 39, Venice Court, Samuel Ogden Street, Manchester, Greater Manchester M1 7AX	-	-	2	Flat
£180K	10/20	0.7 mi	Apartment 30, Venice Court, Samuel Ogden Street, Manchester, Greater Manchester M1 7AX	-	-	2	Flat
£207.5K	12/20	0.71 mi	Flat 21, Granby House, Granby Row, Manchester, Greater Manchester M1 7AR	-	-	2	Flat
£203K	02/23	0.71 mi	Flat 31, Granby House, Granby Row, Manchester, Greater Manchester M1 7AR	-	-	2	Flat
£234K	06/21	0.81 mi	Apartment 381, Block 7 Spectrum, Blackfriars Road, Salford, Greater Manchester M3 7BY	-	-	2	Flat
£199.9K	10/20	0.82 mi	Apartment 222, Quebec Building, Bury Street, Salford, Greater Manchester M3 7DU	-	-	2	Flat
£150K	09/23	0.85 mi	Apartment 219, Quebec Building, Bury Street, Salford, Greater Manchester M3 7DY	-	-	2	Flat
£140K	11/20	0.89 mi	12, Twillbrook Drive, Salford, Greater Manchester M3 7AR	£2,656	53	2	Flat
£150K	05/23	0.89 mi	12, Twillbrook Drive, Salford, Greater Manchester M3 7AR	£2,846	53	2	Flat
£130K	02/21	0.92 mi	11, Georgette Drive, Salford, Greater Manchester M3 7AF	£2,549	51	2	Flat
£150K	08/21	0.92 mi	1, Georgette Drive, Salford, Greater Manchester M3 7AF	£2,703	55	2	Flat
£178K	09/21	0.92 mi	36, Bridgewater Street, Salford, Greater Manchester M3 7AS	£3,787	47	2	Flat
£170K	09/21	0.98 mi	Flat 12, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ	-	-	2	Flat
£330K	12/22	0.98 mi	Flat 36, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ	-	-	2	Flat
£170K	03/21	0.99 mi	10, Hursthead Walk, Manchester, Greater Manchester M13 9UT	£2,394	71	2	Flat

Local Rents

50 rents from £730/mo to £2K/mo, average is £1.5K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,100	05/24	0 mi	Apartment 402 6 Oldham Road, Manchester, M4	2	Flat
£1,250	06/24	0 mi	Express Networks 3, 6 Oldham Road, Manchester, M4	2	Flat
£730	02/24	0 mi	-	2	Flat
£1,350	05/24	0.01 mi	-	2	Flat
£1,225	05/24	0.01 mi	Express Networks 3, 6 Oldham Road	2	Flat
£1,225	05/24	0.01 mi	Express Networks, 6 Oldham Road	2	Flat
£1,300	06/24	0.01 mi	Connect House, 1 Henry Street, Manchester, M4	2	Flat
£2,000	01/25	0.03 mi	-	2	Semi-Detached House
£1,500	02/24	0.03 mi	-	2	Flat
£1,800	06/24	0.03 mi	-	2	Flat
£1,800	06/24	0.03 mi	Luna Street, Manchester, M4	2	Flat
£1,800	05/24	0.03 mi	Henry Street, Manchester	2	Flat
£1,640	03/24	0.04 mi	Poplin 2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,560	05/24	0.04 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,605	05/24	0.04 mi	Apt 13, Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,620	05/24	0.04 mi	Apt 40, Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,720	06/24	0.04 mi	Apt103, 2 Addington Street	2	Flat
£1,625	12/24	0.04 mi	Apt04, Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,500	01/25	0.04 mi	00113, 2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,495	12/24	0.04 mi	-	2	Flat
£1,500	02/25	0.05 mi	-	2	Flat
£1,500	05/24	0.05 mi	Broadside, Oldham Road M4	2	Flat
£1,550	05/24	0.05 mi	Broadside, Oldham Road, M4	2	Flat
£1,475	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,500	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,560	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,400	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,565	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,595	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,575	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,375	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,550	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,585	05/24	0.05 mi	2 Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,640	05/24	0.05 mi	Apt 40, Addington Street, Manchester, Greater Manchester, M4	2	Flat
£1,450	03/24	0.05 mi	Broadside, Oldham Road, M4	2	Flat
£1,575	03/24	0.05 mi	Broadside, Oldham Road M4	2	Flat
£1,400	02/25	0.06 mi	-	2	Flat
£1,200	02/25	0.06 mi	-	2	Flat
£1,425	06/24	0.06 mi	Broadside, Manchester, M4	2	Flat
£1,500	05/24	0.06 mi	Broadside, Oldham Road, M4	2	Flat
£1,295	05/24	0.06 mi	Derros Buildings, 2 George Leigh Street	2	Flat
£1,425	03/24	0.06 mi	Broadside, Manchester, M4	2	Flat
£1,450	06/24	0.06 mi	Broadside, Manchester, M4	2	Flat
£1,500	05/24	0.06 mi	Broadside, 43 Oldham Road, M4	2	Flat
£1,695	06/24	0.07 mi	Burton Building, 90-94 Oldham Street, Northern Quarter, Manchester, M4 1LJ	2	Flat
£1,195	06/24	0.07 mi	Hudson Building, 29 - 37 Great Ancoats Street, Ancoats, Manchester, M4 5AE	2	Flat
£1,195	06/24	0.07 mi	Hudson Building, 29 - 37 Great Ancoats Street, Ancoats, Manchester, M4 5AE	2	Flat
£1,075	05/24	0.07 mi	Hudson Building, Ancoats, M4	2	Flat
£1,850	06/24	0.08 mi	Alumni Court, 1 Cotton Street, Manchester, M4	2	Flat
£1,175	05/24	0.08 mi	Anita Street, Manchester, M4 5DU	2	Flat

Local Area Statistics

Population in M4	10,60010,600
Population in Manchester	920,095920,095
Town centre distance	2.19 miles away2.19 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.37 miles away0.37 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+33%+33%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+3%+3%

Property History

Listed for £150,000

December 6, 2024

Description

Fourth floor +
Two bedrooms +
Two bathrooms +
Prime location +
No onward chain +
Balcony +
Perfect first time buy or investor purchase +
Parking available +

A fourth floor, two bedroom, two bathroom apartment with balcony, situated in the Express Networks development, just off Great Ancoats Street. Conveniently located within the Urban village of Ancoats and adjacent to the Northern Quarter, where there`s no shortage of restaurants, trendy bars, shops and cafes.

The property is available with no onward chain and would therefore suit a first time buyer or investor with an attractive 8.7% yield.

Ews1 status: There is no ews1 form in place at the moment. There are remedial works due on the development and funding has been applied for. The management company cannot confirm whether any additional funding will need to be covered by leaseholders at this stage.

Leasehold information:
Quarterly: Insurance Charge - £212.24
Structural Reserve Fund - £88.79
Internal Service Charge - £336.34
Structural Service Charge - £103.51
Internal Reserve Fund - £45.37

Ground rent - £234.44 per annum - Reviewed every 15 years.
Lease length - 150 years from 2007.

Living room/kitchen - 6.03m (19'9") x 4.01m (13'2")

Bedroom One - 2.08m (6'10") x 4.06m (13'4")

En suite - 1.08m (3'7") x 0.09m (4")

Bedroom Two - 2.05m (6'9") x 2.08m (6'10")

Hallway - 4.06m (13'4") x 1.04m (3'5")

Bathroom - 2.02m (6'8") x 2.06m (6'9")

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Stevenson Whyte, Manchester

0161 524 8300

Next Steps?

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