2 Bed Flat, Single Let, Manchester, M9 8QF, £120,000

Lakeside Rise, Manchester, M9 8QF - 2 views - 3 months ago

Leasehold

BTL

ROI: 13%

~68 m²

+3 photos

ValuationOvervalued

Sold Prices	£50K - £163K
Sold Prices/m²	£831/m² - £2.1K/m²

Square Metres	~68.11 m²
Price/m²	£1.8K/m²
Value Estimate	£102,707£102,707

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£30,000£30,000
Stamp Duty & Legal Fees	£4,800£4,800
Total Cash In	£34,800£34,800

Cash Out
Rent Range	£825 - £2,300£825 - £2,300
Rent Estimate	£950
Running Costs/mo	£585£585
Cashflow/mo	£365£365
Cashflow/yr	£4,380£4,380
ROI	13%13%
Gross Yield	10%10%

Local Sold Prices

23 sold prices from £50K to £163K, average is £105K. £831/m² to £2.1K/m², average is £1.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£106K	11/20	0.3 mi	102, Roch Bank, Manchester, Greater Manchester M9 8FL	£1,479	72	2	Flat
£120K	10/22	0.3 mi	76, Roch Bank, Manchester, Greater Manchester M9 8FL	£1,875	64	2	Flat
£81K	09/21	0.47 mi	50, Bowker Bank Avenue, Crumpsall, Manchester, Greater Manchester M8 4LF	£1,141	71	2	Flat
£100K	07/21	0.47 mi	48, Bowker Bank Avenue, Manchester, Greater Manchester M8 4LF	£1,389	72	2	Flat
£100K	11/20	0.54 mi	Flat 8, Lovell Court, Middleton Road, Manchester, Greater Manchester M8 4LB	-	-	2	Flat
£141K	09/23	0.54 mi	Flat 15, Lovell Court, Middleton Road, Manchester, Greater Manchester M8 4LB	-	-	2	Flat
£125K	07/21	0.57 mi	Flat 10, Holland Court, Holland Road, Manchester, Greater Manchester M8 4WP	-	-	2	Flat
£102K	01/21	0.6 mi	Flat 11, Brookland Court, Middleton Road, Manchester, Greater Manchester M8 4JU	£1,645	62	2	Flat
£110K	05/21	0.63 mi	Flat 18, Hilltop Court, Brooklands Road, Crumpsall, Manchester, Greater Manchester M8 4JH	-	-	2	Flat
£110K	10/20	0.63 mi	Flat 23, Hilltop Court, Brooklands Road, Crumpsall, Manchester, Greater Manchester M8 4JH	-	-	2	Flat
£60K	11/21	0.64 mi	Flat 35, Buckingham House, Kingsmead Mews, Manchester, Greater Manchester M9 0RT	-	-	2	Flat
£60K	04/21	0.65 mi	3, Claythorpe Walk, Manchester, Greater Manchester M8 4JQ	-	-	2	Flat
£105K	09/23	0.65 mi	10, Claythorpe Walk, Manchester, Greater Manchester M8 4JQ	£1,944	54	2	Flat
£50K	12/20	0.65 mi	36, Lower Brooklands Parade, Manchester, Greater Manchester M8 4JS	£831	60	2	Flat
£163K	07/23	0.66 mi	Flat 2, Haversham Court, Middleton Road, Manchester, Greater Manchester M8 4JY	-	-	2	Flat
£143K	03/24	0.67 mi	Haversham Court, Flat 4, Middleton Road, Manchester, Greater Manchester M8 4JY	£2,072	69	2	Flat
£50K	12/20	0.68 mi	36, Lower Brooklands Parade, Manchester, Greater Manchester M8 4JS	£831	60	2	Flat
£80K	01/21	0.76 mi	16, Cobble Bank, Manchester, Greater Manchester M9 5FA	£1,702	47	2	Flat
£110K	08/22	0.84 mi	3, Thorndale Court, Manchester, Greater Manchester M9 8PZ	-	-	2	Flat
£82K	06/23	0.87 mi	1, Marshbrook Drive, Manchester, Greater Manchester M9 8NN	£1,608	51	2	Flat
£95K	04/21	0.89 mi	20, Newcroft Drive, Manchester, Greater Manchester M9 8PU	£1,508	63	2	Flat
£110K	03/21	0.95 mi	Flat 10, Milton Court, Bury Old Road, Salford, Greater Manchester M7 4QX	-	-	2	Flat
£155K	03/21	0.95 mi	Flat 2, Bristol Court, Bury Old Road, Salford, Greater Manchester M7 4QX	-	-	2	Flat

Local Rents

38 rents from £825/mo to £2.3K/mo, average is £995/mo.

Rent	Date	Distance	Address	Beds	Type
£1,000	07/24	0.01 mi	-	2	Flat
£995	05/24	0.01 mi	Lakeside Rise, Manchester, M9	2	Flat
£995	06/24	0.01 mi	Lakeside Rise, Manchester, M9	2	Flat
£995	06/24	0.01 mi	Lakeside Rise, Manchester, M9	2	Flat
£975	06/24	0.01 mi	Lakeside Rise, Manchester, M9	2	Flat
£1,000	07/24	0.01 mi	Lakeside Rise, Manchester, M9	2	Flat
£900	05/24	0.08 mi	Lakeside Rise, Manchester, M9 8QD	2	Flat
£900	06/24	0.08 mi	Lakeside Rise, Blackley New Road, Manchester	2	Flat
£995	12/24	0.24 mi	-	2	Semi-Detached House
£950	02/24	0.26 mi	-	2	Terraced House
£950	07/24	0.3 mi	RochBank, Blackley, Manchester, M9	2	Flat
£1,200	07/24	0.31 mi	Kendall Road, Manchester, M8	2	Semi-Detached House
£1,200	07/24	0.31 mi	-	2	Semi-Detached House
£950	06/24	0.31 mi	Roch Bank, Manchester	2	Flat
£1,100	05/24	0.31 mi	-	2	Semi-Detached House
£900	05/24	0.37 mi	Herristone Road, Crumpsall, Manchester, M8	2	Detached House
£1,175	03/25	0.38 mi	-	2	Semi-Detached House
£950	06/24	0.4 mi	-	2	Terraced House
£1,095	07/24	0.41 mi	Castlemere Road, Manchester, M9	2	Semi-Detached House
£825	06/24	0.45 mi	Watkins Drive, Prestwich, Manchester, M25	2	Semi-Detached House
£950	05/24	0.45 mi	-	2	Semi-Detached House
£1,050	05/24	0.48 mi	Watkins Drive, Prestwich, Manchester M25 0DR	2	Terraced House
£895	05/24	0.49 mi	-	2	Terraced House
£850	02/24	0.49 mi	-	2	Terraced House
£1,200	03/25	0.5 mi	-	2	Flat
£995	01/25	0.51 mi	-	2	Flat
£2,300	02/25	0.54 mi	-	2	Flat
£895	05/24	0.54 mi	Warrington Road, Manchester, Greater Manchester, M9	2	Flat
£900	07/24	0.55 mi	-	2	Semi-Detached House
£1,100	01/25	0.57 mi	-	2	Flat
£975	08/24	0.58 mi	Blackley New Road, Manchester, M9 8DB	2	Terraced House
£1,200	07/24	0.58 mi	-	2	Terraced House
£950	05/24	0.59 mi	Caldecott Road, Manchester	2	Detached House
£1,150	07/24	0.59 mi	-	2	Semi-Detached House
£1,150	06/24	0.59 mi	Wavertree Road, Manchester, M9	2	Semi-Detached House
£995	07/24	0.61 mi	Caldecott Road, Manchester	2	Semi-Detached House
£995	05/24	0.62 mi	-	2	Semi-Detached House
£995	05/24	0.62 mi	Caldecott Road, Manchester, M9	2	Semi-Detached House

Local Area Statistics

Population in M9	39,41239,412
Population in Manchester	920,095920,095
Town centre distance	4.96 miles away4.96 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.50 miles away0.50 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+45%+45%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+60%+60%

Property History

Listed for £120,000

December 11, 2024

Description

10th floor apartment +
Two bedrooms +
One bathroom +
Balcony +
Secure parking +
No onward chain +
Attractive yield +
Buy to let only +
Park views +

Offered with no onward chain - A top floor, two double bedroom, one bathroom apartment in the lakeside rise development, situated on the edge of Heaton Park in Blackley. The property includes secure parking, generous storage cupboards and a large balcony with park views. The property would be a perfect investment purchase with rental potential of £950pcm.

Leasehold information:
Service charge - £1792.1 per annum
Ground rent - £75 per quarter
Lease length - 105 years remaining

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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