2 Bed Terraced House, Refurb/BRRR, Rochdale, OL16 2LN, £100,000

Gowers Street, Rochdale, Greater Manchester, OL16 2LN - 14 views - 3 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 9%
~68 m²
+8 photos

ValuationUndervalued

Sold Prices£68K - £180K
Sold Prices/m²£938/m² - £3.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£103,000
BMV3%

 

 

End Value (After Refurb)

£98,871

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£28,709

Bridging Loan Interest

£2,625

Total Cash In

£62,284

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£98,871

Mortgage (After Refinance)

£74,153

Mortgage LTV

75%

Cash Left In

£62,284

Equity

£24,718

Rent Range

£595 - £1,430

Rent Estimate

£984

Running Costs/mo

£526

Cashflow/mo

£458

Cashflow/yr

£5,499

ROI

9%

Gross Yield

12%

Local Sold Prices

50 sold prices from £68K to £180K, average is £110K. £938/m² to £3.4K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£125K12/230.12 mi196, Entwisle Road, Rochdale, Greater Manchester OL16 2JY2
£80K04/230.12 mi37, Selby Street, Rochdale, Greater Manchester OL16 2LF2
£130.1K05/240.13 mi59, Hey Street, Rochdale, Greater Manchester OL16 2JS2
£160K07/240.15 mi12, Waterside Lane, Rochdale, Greater Manchester OL16 2YD2
£110K12/200.17 mi39, Morley Street, Rochdale, Greater Manchester OL16 2LG2
£95K08/230.17 mi11, Morley Street, Rochdale, Greater Manchester OL16 2LG2
£90K03/230.18 mi17, Oswald Street, Rochdale, Greater Manchester OL16 2LA2
£105K12/220.2 mi85, Ramsay Street, Rochdale, Greater Manchester OL16 2EZ2
£98K03/210.22 mi2, Newbold Moss, Rochdale, Greater Manchester OL16 2YS2
£70K12/200.23 mi15, Tollgate Way, Rochdale, Greater Manchester OL16 2YQ2
£101K05/210.24 mi8, New Field Close, Rochdale, Greater Manchester OL16 2YJ2
£70K04/210.24 mi65, Trafalgar Street, Rochdale, Greater Manchester OL16 2JL2
£126.5K06/210.27 mi143, Croxton Avenue, Rochdale, Greater Manchester OL16 2YY2
£125K05/230.28 mi21, Reservoir Street, Rochdale, Greater Manchester OL16 2XH2
£77K11/230.28 mi112, Belfield Road, Rochdale, Greater Manchester OL16 2XN2
£125.3K04/230.28 mi23, Higher Wheat Lane, Rochdale, Greater Manchester OL16 2YF2
£133K07/230.31 mi8, Eclipse Close, Rochdale, Greater Manchester OL16 2YU2
£135K01/240.31 mi84, Beswicke Royds Street, Rochdale, Greater Manchester OL16 2XD2
£135K01/240.31 mi84, Beswicke Royds Street, Rochdale, Greater Manchester OL16 2XD2
£140K01/230.31 mi10, East Street, Rochdale, Greater Manchester OL16 2EG2
£89.5K06/210.34 mi276, Albert Royds Street, Rochdale, Greater Manchester OL16 2UE2
£68K10/210.4 mi34, Canon Street, Rochdale, Greater Manchester OL16 2TF2
£116.5K03/230.4 mi34, Elliott Street, Rochdale, Greater Manchester OL12 0HF2
£152.5K11/230.41 mi2, Nursery Gardens, Rochdale, Greater Manchester OL16 2UW2
£103K02/230.41 mi106, Rugby Road, Rochdale, Greater Manchester OL12 0DZ2
£85K06/210.42 mi8, Bishop Street, Rochdale, Greater Manchester OL16 2TE2
£130K06/240.42 mi20, Bishop Street, Rochdale, Greater Manchester OL16 2TE2
£169.9K03/230.43 mi1, Kathan Close, Rochdale, Greater Manchester OL16 5BZ2
£180K08/220.43 mi9, Kathan Close, Rochdale, Greater Manchester OL16 5BZ2
£124K10/200.44 mi120, Park Road, Rochdale, Greater Manchester OL12 9BP2
£130K08/210.44 mi103, Park Road, Rochdale, Greater Manchester OL12 9BP2
£117.5K11/220.44 mi98, Rugby Road, Rochdale, Greater Manchester OL12 0DZ2
£96K11/210.44 mi120, Rugby Road, Rochdale, Greater Manchester OL12 0DZ2
£124K10/210.44 mi11, Kenworthy Street, Rochdale, Greater Manchester OL16 5AT2
£115K06/230.44 mi7, Kenworthy Street, Rochdale, Greater Manchester OL16 5AT2
£102K05/210.44 mi19a, Newbold Street, Rochdale, Greater Manchester OL16 5AH2
£130K12/220.45 mi66, Newbold Street, Rochdale, Greater Manchester OL16 5AH2
£90K01/210.45 mi7, Canon Street, Rochdale, Greater Manchester OL16 2TA2
£110K05/210.45 mi269, Milnrow Road, Rochdale, Greater Manchester OL16 5AS2
£110K08/210.45 mi273, Milnrow Road, Rochdale, Greater Manchester OL16 5AS2
£90K04/230.45 mi281, Milnrow Road, Rochdale, Greater Manchester OL16 5AS2
£95K11/210.49 mi15, Rathbone Street, Rochdale, Greater Manchester OL16 5BH2
£123K03/230.49 mi3, Rathbone Street, Rochdale, Greater Manchester OL16 5BH2
£100K01/230.52 mi16, Warwick Street, Rochdale, Greater Manchester OL12 9SW2
£75K02/240.52 mi24, Warwick Street, Rochdale, Greater Manchester OL12 9SW2
£130K02/210.53 mi4, Brook Cottages, Rochdale, Greater Manchester OL16 5AN2
£103K10/200.54 mi26, Firgrove Gardens, Rochdale, Greater Manchester OL16 3AF2
£115K07/210.55 mi84, Ada Street, Rochdale, Greater Manchester OL12 0EQ2
£104K02/240.55 mi92, Ada Street, Rochdale, Greater Manchester OL12 0EQ2
£104K02/240.55 mi92, Ada Street, Rochdale, Greater Manchester OL12 0EQ2

Local Rents

35 rents from £595/mo to £1.4K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£79508/230.13 mi-2
£90007/230.17 mi-2
£82510/240.17 mi-2
£80011/240.21 mi-2
£95006/240.3 miEclipse Close, Off Croxton Avenue, OL162
£79506/240.3 mi-2
£85012/240.3 mi-2
£59512/240.31 mi-2
£92512/240.32 miBrook End, Rochdale2
£69506/240.41 miNewbold Hall Drive, Rochdale OL16 3AJ2
£92512/240.41 miBrookside Grange, Rochdale, OL162
£79506/240.44 miRugby Road, Rochdale, Greater Manchester, OL122
£99503/250.44 mi-2
£67506/240.45 mi-2
£82507/230.49 mi-2
£82501/250.49 mi-2
£89502/250.49 mi-2
£79506/240.49 miWindsor Terrace, Rochdale2
£72506/240.49 miJohn Street, Rochdale, OL162
£1,38012/240.5 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£1,35506/240.5 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£1,35512/240.5 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£1,43012/240.5 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£1,33012/240.5 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£1,41512/240.5 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£1,40512/240.5 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£1,30006/240.51 miDUO at Upperbanks, New Baillie Street, Rochdale, Greater Manchester, OL162
£1,42006/240.51 miDUO at Upperbanks, New Baillie Street, Rochdale, Greater Manchester, OL162
£1,30012/240.51 miNew Baillie Street, Rochdale, Greater Manchester, OL162
£90003/250.52 mi-2
£77512/240.52 mi-2
£77501/250.55 mi-2
£85012/240.6 mi-2
£85009/240.6 mi-2
£90004/250.6 mi-2

Local Area Statistics

Population in OL16

37,246

Population in Rochdale

128,851

Town centre distance

0.50 miles away

Nearest school

0.30 miles away

Nearest train station

0.63 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+15%

Sales demand

Seller's market

Capital growth (5yrs)

+35%

Property History

Listed for £100,000

January 10, 2025

Floor Plans

Description

  • Charming Mid Terraced House +
  • 2 Good Sized Bedrooms +
  • Spacious Lounge & Kitchen +
  • Modernisation Required +
  • Paved Rear Garden +
  • Cellar +
  • Council Tax: Band A +
  • Leasehold: 951 Years Remaining +
  • Ground Rent: £5 Per Anum +

CHAIN FREE! Charming Mid Terraced House, includes 2 good sized bedrooms, paved rear garden plus a cellar. Located close by to Rochdale town centre, the property is ideally positioned to benefit from great travel links, good local schools and amenities. Viewing highly recommended. EPC: C.

Ryder & Dutton are pleased to bring to the market this charming mid terraced house, free from chain. In need of some modernisation, the property is a fantastic opportunity to get on the ladder or add to an investor’s portfolio.

On the ground floor is an entrance porch, spacious lounge, then through to the generous sized kitchen which also includes access to the cellar.

To the first floor is the landing, a really good sized master bedroom, another good sized second bedroom and then the recently upgraded wet room.

Externally the property includes a rear patio area.

The property is located close by to Rochdale Town Centre and a such benefits from easy access to an abundance of shops, restaurants and other local amenities, as well as great travel links, including train station and Metrolink.

EPC: C.

Agent Details

Ryder & Dutton, Rochdale

01706 335894

Next Steps?

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