2 Bed Flat, Single Let, Salford, M5 3NQ, £155,000

X1 The Exchange, 8 Elmira Way, Salford, M5 3NQ - 3 views - 2 months ago

Leasehold
BTL
ROI: 13%
~68 m²
+9 photos

ValuationUndervalued

Sold Prices£102K - £263K
Sold Prices/m²£1.7K/m² - £4.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£187,550
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£38,750

Stamp Duty & Legal Fees

£5,850

Total Cash In

£44,600

 

 

Cash Out

 

Rent Range

£1,000 - £2,600

Rent Estimate

£1,250

Running Costs/mo

£754

Cashflow/mo

£496

Cashflow/yr

£5,948

ROI

13%

Gross Yield

10%

Local Sold Prices

50 sold prices from £102K to £263K, average is £193.5K. £1.7K/m² to £4.4K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£178K03/230.16 mi15, Radclyffe Mews, Salford, Greater Manchester M5 3GD2
£170K02/230.16 mi17, Radclyffe Mews, Salford, Greater Manchester M5 3GD2
£263K12/230.17 mi44, Merchants Quay, Salford, Greater Manchester M50 3XR2
£250K10/210.24 mi62, Merchants Quay, Salford, Greater Manchester M50 3XG2
£210K10/200.24 mi88, Merchants Quay, Salford, Greater Manchester M50 3XG2
£210K10/200.24 mi88, Merchants Quay, Salford, Greater Manchester M50 3XG2
£153.5K03/210.26 mi41, Greenwood Terrace, Salford, Greater Manchester M5 3GH2
£188K10/200.27 mi76, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£238.5K10/230.27 mi70, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£198K10/230.27 mi76, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£155K09/200.27 mi37, Greenwood Terrace, Salford, Greater Manchester M5 3GH2
£188K10/200.28 mi76, St Lawrence Quay, Salford, Greater Manchester M50 3XU2
£195K01/230.29 mi145, Labrador Quay, Salford, Greater Manchester M50 3YH2
£196K10/200.29 mi25, Labrador Quay, Salford, Greater Manchester M50 3YH2
£208K05/210.29 mi111, Labrador Quay, Salford, Greater Manchester M50 3YH2
£197K12/200.29 mi107, Labrador Quay, Salford, Greater Manchester M50 3YH2
£192K01/210.29 mi153, Labrador Quay, Salford, Greater Manchester M50 3YH2
£204K03/210.29 mi141, Labrador Quay, Salford, Greater Manchester M50 3YH2
£255K11/220.29 mi119, Labrador Quay, Salford, Greater Manchester M50 3YH2
£210K05/230.29 mi171, Labrador Quay, Salford, Greater Manchester M50 3YH2
£212K12/220.29 mi43, Labrador Quay, Salford, Greater Manchester M50 3YH2
£240K12/220.3 mi15, St Lawrence Quay, Salford, Greater Manchester M50 3XT2
£240K09/210.32 mi44, Vancouver Quay, Salford, Greater Manchester M50 3TU2
£205K09/210.32 mi71, Vancouver Quay, Salford, Greater Manchester M50 3TU2
£209.5K11/200.32 mi70, Vancouver Quay, Salford, Greater Manchester M50 3TU2
£228K05/210.38 mi16, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£260K12/200.38 mi53, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£200K06/210.38 mi24, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£230K05/210.38 mi41, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£190K04/210.38 mi49, Winnipeg Quay, Salford, Greater Manchester M50 3TY2
£210K03/240.51 miImperial Point, Apartment 812, The Quays, Salford, Greater Manchester M50 3RB2
£153K12/230.63 miRenolds House, Apartment 19, Everard Street, Salford, Greater Manchester M5 4UB2
£114K11/230.63 miApartment 1, Renolds House, Everard Street, Salford, Greater Manchester M5 4UB2
£180K12/220.66 miApartment 47, Slater House, Woden Street, Salford, Greater Manchester M5 4UE2
£200K01/230.67 miApartment 1905, Number One, Pink, Media City Uk, Salford, Greater Manchester M50 2BB2
£200K06/230.67 miApartment 403, Number One, Pink, Media City Uk, Salford, Greater Manchester M50 2BA2
£136.1K01/230.7 miFlat 66, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£138K03/230.7 miFlat 102, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£102K03/210.7 miFlat 101, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£138K07/230.7 miFlat 90, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ2
£122K05/210.71 miFlat 15, Redmires Court, Eccles New Road, Salford, Greater Manchester M5 4US2
£140K07/230.71 miFlat 49, Redmires Court, Eccles New Road, Salford, Greater Manchester M5 4US2
£112.5K01/210.71 miFlat 73, Redmires Court, Eccles New Road, Salford, Greater Manchester M5 4UT2
£110K11/200.72 miFlat 41, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW2
£150K11/220.72 miFlat 42, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW2
£173K11/210.74 miApartment 72, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS2
£171.5K07/210.74 miApartment 49, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS2
£127.5K07/230.76 miFlat 11, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2
£130K05/230.76 miFlat 2, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2
£128K02/210.76 miFlat 19, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN2

Local Rents

51 rents from £1K/mo to £2.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,25012/240 miThe Exchange, 8 Elmira Way, Salford, Manchester, M52
£1,30006/240 mi8 Elmira Way, Salford, Manchester, M52
£1,25005/240 miThe Exchange, 8 Elmira Way, Salford, M52
£1,20005/240 miThe Exchange, 8 Elmira Way, Salford, Manchester, M52
£1,17505/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,19505/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,25005/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,25005/240 miThe Exchange, 8 Elmira Way, Salford, M52
£1,20012/240 miThe Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M52
£1,15002/240 mi-2
£1,26003/240 miThe Exchange, Elmira Way, Manchester, M52
£1,20006/240 mi-2
£1,20005/240 miThe Exchange, Salford, M52
£1,20001/250 mi-2
£1,25003/250 mi-2
£1,25005/240.02 miThe Gateway, 15 Trafford Road, Salford, M52
£1,27502/240.03 mi-2
£1,25002/240.03 mi-2
£1,27505/240.03 mi-2
£1,27506/240.03 mi-2
£1,27506/240.03 miTrafford Road, Salford, M52
£1,40006/240.03 mi-2
£1,40006/240.03 mi-2
£1,27512/240.03 mi-2
£1,29501/250.03 mi-2
£2,40005/240.03 mi-2
£1,90005/240.03 mi-2
£1,30003/240.04 mi15 Trafford Road, Salford, Lancashire, M52
£1,30005/240.04 mi-2
£2,60012/240.04 mi-2
£2,60012/240.04 mi-2
£1,10005/240.04 miPioneer House, Elmira Way, Salford, M52
£1,15005/240.04 miPioneer House, Elmira Way, Salford, M52
£1,20005/240.04 miPioneer House, Elmira Way, Salford , M52
£1,25002/250.04 mi-2
£1,10005/240.04 miPioneer House, Elmira Way, Salford M5 3LL2
£1,27505/240.04 miThe Gateway, 15 Trafford Road, Salford, M52
£1,20005/240.05 miPioneer House, 1c Elmira Way, Salford Quays, Salford, Lancashire, M52
£1,20005/240.05 miPioneer House, 1C Elmira Way, Salford, Lancashire, M52
£1,20005/240.05 miEndeavour House, 1b Elmira Way, M52
£1,15005/240.05 miEndeavour House, 1b Elmira Way, M52
£1,15005/240.05 miEndeavour House, 1b Elmira Way, M52
£1,20006/240.05 miEndeavour House, 1b Elmira Way, M52
£1,20006/240.05 miEndeavour House, 1b Elmira Way, M52
£1,30005/240.05 miElmira Way, Salford, Greater Manchester, M52
£1,15005/240.05 miBrindley House, 1 Elmira Way, Salford, M52
£1,10005/240.05 miBrindley House, 1 Elmira Way, Salford, M52
£1,20005/240.05 miBrindley House, 1 Elmira Way, Salford, M52
£1,00005/240.05 miBrindley House, 1 Elmira Way, Salford Quays, Salford, M52
£1,05006/240.05 mi-2
£1,20003/250.05 mi-2

Local Area Statistics

Population in M5

14,445

Population in Salford

88,697

Town centre distance

2.53 miles away

Nearest school

0.30 miles away

Nearest train station

0.07 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Buyer's market

Capital growth (5yrs)

+6%

Property History

Listed for £155,000

January 17, 2025

Floor Plans

Description

6th Floor 2-bedroom 2-bathroom apartment with balcony at X1 The Exchange. 652 sqft.

- Located in the heart of Salford Quays
- Fully Furnished
- Gym
- Opposite Salford Quays Metrolink stop

EWS1 certificate available
Available to both Investors and Owner-Occupants.
Projected 9.68% Rental Yield @ £1250 PCM
Tenancy vcated.

2024 service charge - Approximately £2,655 Per Annum
Ground rent - £250PA (5 Year RPI) review date 19.03.2025
EPC Rating - C
Council tax band C

The property is a short walk away from a wide choice of restaurants, bars and shops in the ever popular Media City whilst Salford Quays Metrolink stop is just across the road - perfect for commuters!

The Lowry Theatre, Lowry Outlet Mall and Helly Hansen Water sports centre are highlights of this property’s location.

• Salford Quays Location
• 1-minute walk to Tesco Express
• 5-minute walk to Ordsall Park
• 15-minute walk to MediaCityUK
• 20-minute by tram to Manchester City Centre

Agent Details

NEXIS Property, Manchester

0161 839 1680

Next Steps?

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