2 Bed Flat, Single Let, Manchester, M15 4EB, £170,000

City Gate 2, Manchester, Castlefield, M15 4EB - 2 months ago

Leasehold

BTL

ROI: 8%

~68 m²

+4 photos

ValuationUndervalued

Sold Prices	£102K - £430K
Sold Prices/m²	£1.7K/m² - £4.4K/m²

Square Metres	~68.11 m²
Price/m²	£2.5K/m²
Value Estimate	£200,895£200,895
BMV	18%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£42,500£42,500
Stamp Duty & Legal Fees	£9,700£9,700
Total Cash In	£52,200£52,200

Cash Out
Rent Range	£950 - £2,600£950 - £2,600
Rent Estimate	£1,100
Running Costs/mo	£771£771
Cashflow/mo	£329£329
Cashflow/yr	£3,945£3,945
ROI	8%8%
Gross Yield	8%8%

Local Sold Prices

50 sold prices from £102K to £430K, average is £165K. £1.7K/m² to £4.4K/m², average is £3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£210K	09/21	0.08 mi	Flat 202, Former St. Georges Church, Arundel Street, Manchester, Greater Manchester M15 4JZ	-	-	2	Flat
£400K	04/21	0.08 mi	Apartment 310, Middle Warehouse, Castle Quay, Manchester, Greater Manchester M15 4NT	-	-	2	Flat
£350K	04/21	0.08 mi	Apartment 301, Middle Warehouse, Castle Quay, Manchester, Greater Manchester M15 4NT	-	-	2	Flat
£430K	01/23	0.08 mi	Suite 509, Middle Warehouse, Castle Quay, Manchester, Greater Manchester M15 4NT	-	-	2	Flat
£130K	01/21	0.11 mi	Flat 29, Thomas Court, Beattock Close, Manchester, Greater Manchester M15 4JA	£3,570	36	2	Flat
£250K	07/21	0.11 mi	Flat 301, Former St. Georges Church, Arundel Street, Manchester, Greater Manchester M15 4JZ	-	-	2	Flat
£260K	06/23	0.11 mi	Flat 108, Former St. Georges Church, Arundel Street, Manchester, Greater Manchester M15 4JZ	-	-	2	Flat
£230K	08/21	0.23 mi	32, Potato Wharf, Manchester, Greater Manchester M3 4NB	£3,829	60	2	Flat
£212K	09/21	0.23 mi	28, Potato Wharf, Manchester, Greater Manchester M3 4NB	-	-	2	Flat
£210K	03/21	0.26 mi	19, Woollam Place, Manchester, Greater Manchester M3 4JJ	£3,591	58	2	Flat
£240K	04/21	0.26 mi	127f, Liverpool Road, Manchester, Greater Manchester M3 4JN	£4,138	58	2	Flat
£208K	02/21	0.26 mi	133d, Liverpool Road, Manchester, Greater Manchester M3 4JN	£3,925	53	2	Flat
£170K	12/22	0.27 mi	44, Jackson Crescent, Manchester, Greater Manchester M15 5AA	£2,936	58	2	Flat
£148K	05/21	0.27 mi	94, Jackson Crescent, Manchester, Greater Manchester M15 5AA	£2,596	57	2	Flat
£172.5K	06/23	0.27 mi	94, Jackson Crescent, Manchester, Greater Manchester M15 5AA	£3,026	57	2	Flat
£173.5K	12/22	0.27 mi	86, Jackson Crescent, Manchester, Greater Manchester M15 5AA	£3,044	57	2	Flat
£172K	03/24	0.31 mi	7, St Wilfrids Street, Manchester, Greater Manchester M15 5XE	£3,266	53	2	Flat
£173K	11/21	0.36 mi	Apartment 72, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS	£2,932	59	2	Flat
£171.5K	07/21	0.36 mi	Apartment 49, Irwell Building, Derwent Street, Salford, Greater Manchester M5 4SS	£2,858	60	2	Flat
£220K	06/21	0.36 mi	29, Rozel Square, Manchester, Greater Manchester M3 4FQ	£4,284	51	2	Flat
£285K	06/21	0.37 mi	28, Porchfield Square, Manchester, Greater Manchester M3 4FG	£4,279	67	2	Flat
£180K	12/22	0.37 mi	Apartment 47, Slater House, Woden Street, Salford, Greater Manchester M5 4UE	-	-	2	Flat
£277K	07/21	0.37 mi	1, Culvercliffe Walk, Manchester, Greater Manchester M3 4FL	£4,123	67	2	Flat
£294K	12/20	0.37 mi	11, Culvercliff Walk, Manchester, Greater Manchester M3 4FL	£4,361	67	2	Flat
£127.5K	07/23	0.38 mi	Flat 11, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN	-	-	2	Flat
£130K	05/23	0.38 mi	Flat 2, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN	-	-	2	Flat
£128K	02/21	0.38 mi	Flat 19, Miranda Court, Asgard Drive, Salford, Greater Manchester M5 4TN	-	-	2	Flat
£215K	12/22	0.38 mi	326, City Road, Manchester, Greater Manchester M15 4FA	£3,209	67	2	Flat
£150K	11/22	0.39 mi	Flat 42, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW	-	-	2	Flat
£110K	11/20	0.39 mi	Flat 41, Cassandra Court, Asgard Drive, Salford, Greater Manchester M5 4TW	£1,746	63	2	Flat
£136.1K	01/23	0.41 mi	Flat 66, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ	-	-	2	Flat
£138K	03/23	0.41 mi	Flat 102, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ	-	-	2	Flat
£102K	03/21	0.41 mi	Flat 101, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ	-	-	2	Flat
£138K	07/23	0.41 mi	Flat 90, Imogen Court, Asgard Drive, Salford, Greater Manchester M5 4TQ	-	-	2	Flat
£153K	12/23	0.41 mi	Renolds House, Apartment 19, Everard Street, Salford, Greater Manchester M5 4UB	£2,550	60	2	Flat
£114K	11/23	0.41 mi	Apartment 1, Renolds House, Everard Street, Salford, Greater Manchester M5 4UB	-	-	2	Flat
£160K	07/21	0.44 mi	54, Hunmanby Avenue, Manchester, Greater Manchester M15 5FE	-	-	2	Flat
£161K	02/24	0.46 mi	104, Royce Road, Hulme, Manchester, Greater Manchester M15 5LA	£3,220	50	2	Flat
£141.7K	06/21	0.47 mi	57, Rockdove Avenue, Manchester, Greater Manchester M15 5EH	£2,624	54	2	Flat
£165K	06/23	0.47 mi	296b, Stretford Road, Manchester, Greater Manchester M15 5TN	£2,619	63	2	Flat
£138K	07/21	0.48 mi	324a, Stretford Road, Manchester, Greater Manchester M15 5TP	£2,556	54	2	Flat
£155K	10/21	0.48 mi	16, Rockdove Avenue, Manchester, Greater Manchester M15 5FH	-	-	2	Flat
£171K	09/21	0.48 mi	34, Rockdove Avenue, Manchester, Greater Manchester M15 5FH	-	-	2	Flat
£160K	08/23	0.5 mi	1d, Rolls Crescent, Manchester, Greater Manchester M15 5JZ	£2,963	54	2	Flat
£157.5K	04/21	0.5 mi	15, Shawgreen Close, Manchester, Greater Manchester M15 4DR	£2,074	76	2	Flat
£122.5K	05/21	0.53 mi	377a, Stretford Road, Manchester, Greater Manchester M15 4AW	£2,207	56	2	Flat
£137K	08/21	0.54 mi	28, Chorlton Road, Hulme, Manchester, Greater Manchester M15 4AU	£2,446	56	2	Flat
£142K	05/21	0.54 mi	56, Chorlton Road, Manchester, Greater Manchester M15 4AU	£1,919	74	2	Flat
£137.5K	11/20	0.54 mi	60, Chorlton Road, Hulme, Manchester, Greater Manchester M15 4AU	£2,371	58	2	Flat
£165K	01/21	0.55 mi	56, Stretford Road, Manchester, Greater Manchester M15 5JH	£2,750	60	2	Flat

Local Rents

50 rents from £950/mo to £2.6K/mo, average is £1.3K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,150	05/24	0 mi	City Gate 2, 3 Blantyre Street, Castlefield, Manchester, M15	2	Flat
£1,100	05/24	0 mi	City Gate 2, 3 Blantyre Street, Castlefield, Manchester, M15	2	Flat
£1,200	05/24	0.01 mi	City Gate Blantyre Street, Manchester	2	Flat
£1,200	05/24	0.01 mi	City Gate II , Manchester	2	Flat
£1,300	05/24	0.01 mi	City Gate, Manchester, M15 4EB	2	Flat
£1,300	06/24	0.01 mi	-	2	Flat
£1,300	05/24	0.01 mi	Blantyre Street, Manchester, M15	2	Flat
£1,100	05/24	0.01 mi	City Gate 2, Blantyre Street, Manchester, M15 4EB	2	Flat
£1,250	05/24	0.03 mi	-	2	Flat
£1,100	05/24	0.03 mi	City Gate 3, 5 Blantyre Street, Castlefield, Manchester, M15	2	Flat
£950	05/24	0.03 mi	City Gate 3, 5 Blantyre Street, Castlefield, Manchester, M15	2	Flat
£1,100	05/24	0.04 mi	City Gate, Blantyre Street	2	Flat
£1,300	05/24	0.04 mi	City Gate 3, 5 Blantyre Street, Castlefield	2	Flat
£1,100	05/24	0.04 mi	City Gate, Blantyre Street	2	Flat
£1,150	03/24	0.05 mi	City Gate 3, Blantyre Street, Manchester, Greater Manchester, M15	2	Flat
£1,150	05/24	0.05 mi	Blantyre Street, Manchester, Greater Manchester, M15	2	Flat
£1,300	05/24	0.05 mi	City Gate 3, Blantyre Street, Castlefield, Manchester, M15	2	Flat
£1,100	05/24	0.05 mi	City Gate 3, Blantyre Street, Castlefield, Manchester, M15	2	Flat
£1,150	06/24	0.05 mi	City Gate III, 5 Blantryre Street, Castlefield, Manchester City Centre, M15	2	Flat
£1,100	12/24	0.05 mi	-	2	Flat
£1,200	05/24	0.05 mi	City Gate, Castlefield	2	Flat
£1,295	05/24	0.05 mi	Worsley Mill, 10 Blantyre Street, Castlefield, Manchester, M15	2	Flat
£1,300	05/24	0.06 mi	-	2	Flat
£1,300	03/25	0.06 mi	-	2	Flat
£1,450	05/24	0.07 mi	Worsley Mill, Blantyre Street, Manchester	2	Flat
£1,400	02/25	0.07 mi	-	2	Flat
£1,400	01/25	0.07 mi	-	2	Flat
£1,350	02/25	0.07 mi	-	2	Flat
£1,300	06/24	0.07 mi	Worsley Mill, Castlefield, M15	2	Flat
£1,295	05/24	0.07 mi	Worsley Mill, Blantyre Street, Manchester, M15	2	Flat
£1,600	03/25	0.08 mi	-	2	Flat
£2,600	05/24	0.08 mi	Middle Warehouse, Castle Quay	2	Flat
£1,900	06/24	0.09 mi	Elizabeth Tower, 141 Chester Road, Manchester, M15	2	Flat
£2,300	05/24	0.09 mi	Elizabeth Tower, 141 Chester Road, Manchester, M15	2	Flat
£1,450	05/24	0.09 mi	Ashton House, Slate Wharf, Castlefield, Manchester, M15	2	Flat
£1,500	05/24	0.09 mi	Slate Wharf, Manchester, Greater Manchester, M15	2	Flat
£1,800	05/24	0.09 mi	Elizabeth Tower, Crown Street, Manchester	2	Flat
£1,750	05/24	0.09 mi	Elizabeth Tower, 141 Chester Road, MANCHESTER, M15 4ZH	2	Flat
£1,450	12/24	0.1 mi	-	2	Flat
£1,500	05/24	0.1 mi	Ashton House, Manchester, M15	2	Flat
£1,450	05/24	0.1 mi	Ashton House, Manchester, M15	2	Flat
£1,600	03/25	0.1 mi	-	2	Flat
£2,200	05/24	0.1 mi	Elizabeth Tower, 141 Chester Road, Manchester	2	Flat
£1,250	05/24	0.1 mi	The Base, 12 Arundel Street, Manchester, M15	2	Flat
£2,200	05/24	0.11 mi	Three60, New Jackson	2	Flat
£2,300	05/24	0.11 mi	Elizabeth Tower, 141 Chester Road, M15	2	Flat
£2,250	05/24	0.11 mi	Three60, 11 Silvercroft Street, M15	2	Flat
£2,000	05/24	0.11 mi	Three60, New Jackson, M15	2	Flat
£2,100	06/24	0.11 mi	Three60, 11 Silvercroft Street, M15	2	Flat
£1,975	05/24	0.11 mi	Chester Road, Manchester, M15	2	Flat

Local Area Statistics

Population in M15	20,05020,050
Population in Manchester	920,095920,095
Town centre distance	1.25 miles away1.25 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.31 miles away0.31 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+14%+14%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+39%+39%

Property History

Listed for £170,000

January 28, 2025

Floor Plans

Description

Mortgage Buyers Welcome!!! A superb development located in the Castlefield area of Manchester City Centre, it is ideal for access into and out of town either by road or rail and is situated close to the bars and restaurants in Castlefield and shopping centres close to Deansgate. This apartment offers a welcoming hallway, an open-plan living area, and a fully equipped kitchen with all the necessary appliances. It includes a family bathroom and two double bedrooms, with the main bedroom featuring an en-suite. The layout is practical, offering both comfort and convenience for everyday living. The development also provides secure cycle storage and well-maintained communal gardens.

Subject to contract. EPC Rating D.

Agent Details

Thornley Groves, Manchester Southern Gateway

0161 524 4726

Next Steps?

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

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