3 Bed Semi-Detached House, Refurb/BRRR, Manchester, M34 2JR, £250,000

Oak Drive, MANCHESTER, Lancashire, M34 2JR - 6 views - 4 months ago

Sold STC
Refurb/BRRR
ROI: 5%
~93 m²
+12 photos

ValuationOvervalued

Sold Prices£117K - £340K
Sold Prices/m²£1.7K/m² - £3.9K/m²

 

 

Square Metres

~93 m²
Price/m²£2.7K/m²

Value Estimate

£226,956

 

 

End Value (After Refurb)

£247,559

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£39,200

Bridging Loan Interest

£6,563

Total Cash In

£118,713

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£247,559

Mortgage (After Refinance)

£185,669

Mortgage LTV

75%

Cash Left In

£118,713

Equity

£61,890

Rent Range

£1,100 - £3,300

Rent Estimate

£1,624

Running Costs/mo

£1,118

Cashflow/mo

£506

Cashflow/yr

£6,067

ROI

5%

Gross Yield

8%

Local Sold Prices

50 sold prices from £117K to £340K, average is £240K. £1.7K/m² to £3.9K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£320K06/230 mi29, Oak Drive, Denton, Manchester, Greater Manchester M34 2JR3
£240K07/240 mi45, Oak Drive, Denton, Manchester, Greater Manchester M34 2JR3
£215K05/240.02 mi24, Oak Drive, Denton, Manchester, Greater Manchester M34 2JS3
£185K11/210.02 mi50, Oak Drive, Denton, Manchester, Greater Manchester M34 2JS3
£267.8K01/230.03 mi55, Balmoral Drive, Denton, Manchester, Greater Manchester M34 2JT3
£240K08/210.05 mi48, Balmoral Drive, Denton, Manchester, Greater Manchester M34 2JU3
£205.5K12/200.05 mi45, Balmoral Drive, Denton, Manchester, Greater Manchester M34 2JT3
£258K11/210.08 mi12, Windsor Road, Denton, Manchester, Greater Manchester M34 2HD3
£276K06/230.08 mi20, Windsor Road, Denton, Manchester, Greater Manchester M34 2HD3
£237.5K07/230.09 miFern Cottage, Earl Street, Denton, Manchester, Greater Manchester M34 2PJ3
£235K06/230.13 mi533, Manchester Road, Denton, Manchester, Greater Manchester M34 2PF3
£193.5K12/200.13 mi539, Manchester Road, Denton, Manchester, Greater Manchester M34 2PF3
£215K02/210.13 mi563, Manchester Road, Denton, Manchester, Greater Manchester M34 2PF3
£270K06/230.14 mi10, Cromer Avenue, Denton, Manchester, Greater Manchester M34 2JG3
£340K08/240.14 mi5, Cromer Avenue, Denton, Manchester, Greater Manchester M34 2JG3
£268.5K08/240.15 mi1, Linton Avenue, Denton, Manchester, Greater Manchester M34 2JQ3
£280K12/200.15 mi5, Orwell Avenue, Denton, Manchester, Greater Manchester M34 2LR3
£280K11/230.17 mi45, Norfolk Avenue, Denton, Manchester, Greater Manchester M34 2WL3
£233K12/200.17 mi46, Norfolk Avenue, Denton, Manchester, Greater Manchester M34 2NL3
£275K08/230.18 mi5, Royston Avenue, Denton, Manchester, Greater Manchester M34 2LX3
£230K04/230.18 mi33, Kingsdale Road, Manchester, Greater Manchester M18 7WB3
£230K07/230.19 mi32, Ashwood Avenue, Denton, Manchester, Greater Manchester M34 2PB3
£310K04/240.19 mi18, Ashwood Avenue, Denton, Manchester, Greater Manchester M34 2PB3
£238K09/210.19 mi63, Granada Road, Denton, Manchester, Greater Manchester M34 2JZ3
£183K03/210.19 mi3, Melton Avenue, Denton, Manchester, Greater Manchester M34 2LB3
£275K06/210.19 mi90, Granada Road, Denton, Manchester, Greater Manchester M34 2LA3
£217.5K06/240.19 mi142, Laburnum Road, Denton, Manchester, Greater Manchester M34 2WB3
£210K11/210.2 mi35, Clumber Road, Manchester, Greater Manchester M18 7LZ3
£250K09/210.2 mi58, Windsor Road, Denton, Manchester, Greater Manchester M34 2HE3
£210.5K09/210.2 mi86, Windsor Road, Denton, Manchester, Greater Manchester M34 2HE3
£117K11/200.2 mi51, Ashwood Avenue, Denton, Manchester, Greater Manchester M34 2PA3
£237.4K04/240.2 mi17, Ashwood Avenue, Denton, Manchester, Greater Manchester M34 2PA3
£229K01/210.2 mi29, Ashwood Avenue, Denton, Manchester, Greater Manchester M34 2PA3
£255K07/230.22 mi3, Farley Avenue, Manchester, Greater Manchester M18 7WA3
£273.8K01/230.22 mi11, Farley Avenue, Manchester, Greater Manchester M18 7WA3
£262K07/230.22 mi6, Farley Avenue, Manchester, Greater Manchester M18 7WA3
£274K08/230.22 mi5, Belford Avenue, Denton, Manchester, Greater Manchester M34 2LE3
£280K03/240.22 mi32, Hulme Road, Denton, Manchester, Greater Manchester M34 2WZ3
£240K11/210.22 mi7, Hulme Road, Denton, Manchester, Greater Manchester M34 2NX3
£220K12/200.22 mi107, Laburnum Road, Denton, Manchester, Greater Manchester M34 2NB3
£244K02/240.22 mi111, Laburnum Road, Denton, Manchester, Greater Manchester M34 2NB3
£260K07/240.24 mi10, Elford Grove, Manchester, Greater Manchester M18 7NB3
£175K11/200.24 mi17, Dorlan Avenue, Manchester, Greater Manchester M18 7NA3
£265K02/230.24 mi16, Elford Grove, Manchester, Greater Manchester M18 7NB3
£292.5K12/220.24 mi36, Shirley Avenue, Denton, Manchester, Greater Manchester M34 2LN3
£220K07/240.25 mi17, Earlston Avenue, Denton, Manchester, Greater Manchester M34 2LF3
£251.5K03/230.25 mi43, Hulme Road, Denton, Manchester, Greater Manchester M34 2WX3
£210K10/210.26 mi21, Claremont Range, Manchester, Greater Manchester M18 7LT3
£236K04/210.27 mi1087, Hyde Road, Manchester, Greater Manchester M18 7LN3
£236K04/240.27 mi10, Manton Avenue, Denton, Manchester, Greater Manchester M34 2LH3

Local Rents

22 rents from £1.1K/mo to £3.3K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,25005/240.15 miOrwell Avenue, Dane Bank, M343
£1,20012/240.17 miRoyston Avenue, Denton, Manchester, Greater Manchester, M343
£1,20002/250.22 mi-3
£1,35006/240.26 miDorlan Avenue, Gorton, Manchester, M183
£1,35006/240.26 miDorlan Avenue, Gorton, Manchester, M183
£1,35006/240.26 miDorlan Avenue, Gorton, Manchester, M183
£1,55012/230.27 mi-3
£1,35004/240.3 mi-3
£1,35005/240.3 miWindsor Road, Denton, Manchester, M343
£1,35012/240.32 mi-3
£1,50002/240.37 mi-3
£3,30012/240.38 mi-3
£3,30002/250.38 mi-3
£3,30002/250.38 mi-3
£2,60002/250.38 mi-3
£1,19505/240.39 miMayfield Grove, Manchester, M183
£1,20009/240.4 miThornley Lane North, Stockport3
£1,27509/240.45 mi-3
£1,29505/240.48 mi-3
£1,25003/250.49 mi-3
£1,10009/240.52 mi-3
£1,30012/240.54 mi-3

Local Area Statistics

Population in M34

46,114

Population in Manchester

920,095

Town centre distance

4.21 miles away

Nearest school

0.20 miles away

Nearest train station

0.61 miles away

 

 

Rental growth (12m)

+29%

Sales demand

Seller's market

Capital growth (5yrs)

+45%

Property History

Listed for £250,000

December 26, 2024

Floor Plans

Description

Nestled in the highly regarded area of Dane Bank, this three-bedroom semi-detached home on Oak Drive offers a fantastic opportunity for buyers seeking a project to create their dream home. With spacious interiors and excellent potential, this property is perfect for families or investors looking to add value through refurbishment.

Internal Features
The property welcomes you into a bright entrance hall, providing access to the ground floor living spaces. To the front, the large family lounge enjoys an abundance of natural light and offers a versatile space ideal for relaxing or entertaining.

To the rear of the property is a second reception room, which can be utilized as a formal dining room or a cozy second sitting room, with views over the garden. The morning room, situated adjacent to the kitchen, provides a charming additional space that could be transformed into a breakfast area or utility zone. The kitchen itself offers scope for modern redesign, making it a central hub for family living.

On the first floor, the property features three well-proportioned bedrooms, each offering flexibility for family living, guest accommodation, or home office use. The family bathroom completes the upper floor and is ready for renovation to suit contemporary tastes.

External Features
Externally, the property benefits from a generous plot with a rear garden, offering the perfect canvas for landscaping or outdoor entertaining. The front of the property provides additional potential for off-road parking (subject to the necessary permissions), further enhancing the home's practicality.

Development Potential
This property requires internal refurbishment throughout, presenting a unique opportunity for buyers to fully personalize the space to their tastes and specifications. With its spacious layout and fantastic location, it has all the makings of a truly exceptional family home.

Location
Situated in the desirable Dane Bank area, the property is ideally positioned close to local amenities, reputable schools, and excellent transport links, including easy access to major motorways and public transport routes. Oak Drive combines a peaceful, residential setting with the convenience of urban connectivity, making it a prime choice for families and commuters alike.

This home is brimming with potential and is waiting for the right buyer to bring it back to life. Don’t miss this rare opportunity to create something special—contact us today to arrange a viewing!

Agent Details

Bridgfords, Denton

0161 524 6893

Next Steps?

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