2 Bed Terraced House, Refurb/BRRR, Manchester, M12 4QJ, £185,000

Pennington Street, Levenshulme, M12 4QJ - 3 months ago

Sold STC
Refurb/BRRR
ROI: 3%
~68 m²
+7 photos

ValuationOvervalued

Sold Prices£100K - £248K
Sold Prices/m²£1.6K/m² - £3.4K/m²

 

 

Square Metres

~67.82 m²
Price/m²£2.7K/m²

Value Estimate

£158,900

 

 

End Value (After Refurb)

£179,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£11,650

Refurb Costs

£28,677

Bridging Loan Interest

£4,856

Total Cash In

£93,183

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£179,000

Mortgage (After Refinance)

£134,250

Mortgage LTV

75%

Cash Left In

£93,183

Equity

£44,750

Rent Range

£699 - £1,400

Rent Estimate

£1,032

Running Costs/mo

£786

Cashflow/mo

£246

Cashflow/yr

£2,955

ROI

3%

Gross Yield

7%

Local Sold Prices

50 sold prices from £100K to £248K, average is £162.5K. £1.6K/m² to £3.4K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£108K01/210.1 mi2, Delafield Avenue, Manchester, Greater Manchester M12 5SL2
£176K11/220.11 mi40, Hannah Street, Manchester, Greater Manchester M12 5SN2
£160K03/230.12 mi10, Spring Street, Manchester, Greater Manchester M12 5SP2
£180K07/230.14 mi25, Deepcar Street, Manchester, Greater Manchester M19 3BA2
£190K05/220.15 mi11, Agnes Street, Manchester, Greater Manchester M19 3AY2
£155K12/210.15 mi4, Dobcross Close, Manchester, Greater Manchester M13 0GQ2
£155K12/210.15 mi4, Dobcross Close, Manchester, Greater Manchester M13 0GQ2
£152K03/240.18 mi22, Seddon Street, Manchester, Greater Manchester M12 4GP2
£160K11/230.18 mi35, Seddon Street, Manchester, Greater Manchester M12 4GP2
£222.5K12/230.19 mi12, Crescent Grove, Manchester, Greater Manchester M19 3BW2
£165K05/230.19 mi6, Crescent Grove, Manchester, Greater Manchester M19 3BW2
£133K06/210.2 mi64, Longden Road, Manchester, Greater Manchester M12 5SG2
£145K04/240.2 mi42, Longden Road, Manchester, Greater Manchester M12 5SG2
£168.8K09/220.21 mi13, Ollier Avenue, Manchester, Greater Manchester M12 5SU2
£147.5K02/240.21 mi24, Maida Street, Manchester, Greater Manchester M12 4QQ2
£128K01/210.21 mi23, Maida Street, Manchester, Greater Manchester M12 4QQ2
£150K06/230.21 mi33, Maida Street, Manchester, Greater Manchester M12 4QQ2
£155K07/230.21 mi24, Portville Road, Manchester, Greater Manchester M19 3DN2
£167K10/220.21 mi18, Maida Street, Manchester, Greater Manchester M12 4QQ2
£156K04/210.21 mi4, Brook Avenue, Manchester, Greater Manchester M19 3DQ2
£183.5K07/210.21 mi13, Brook Avenue, Manchester, Greater Manchester M19 3DQ2
£135K04/230.21 mi50, Brook Avenue, Manchester, Greater Manchester M19 3DQ2
£170K02/230.22 mi11, Maida Street, Manchester, Greater Manchester M12 4QQ2
£180K11/210.23 mi69, Randolph Street, Manchester, Greater Manchester M19 3DW2
£145K02/240.24 mi47, Stovell Avenue, Longsight, Manchester, Greater Manchester M12 5SY2
£145K12/210.24 mi31, Stovell Avenue, Longsight, Manchester, Greater Manchester M12 5SY2
£240K07/230.25 mi12, Balleratt Street, Manchester, Greater Manchester M19 3DF2
£155K12/220.25 mi14, Wilpshire Avenue, Manchester, Greater Manchester M12 5TL2
£165K05/210.26 mi23, Cleveland Avenue, Manchester, Greater Manchester M19 3FA2
£220K10/230.26 mi3, Cleveland Avenue, Manchester, Greater Manchester M19 3FA2
£175K09/230.28 mi10, Newdale Road, Manchester, Greater Manchester M12 4GG2
£165K08/220.28 mi12, Newdale Road, Manchester, Greater Manchester M12 4GG2
£195K05/210.28 mi19, Harrison Avenue, Manchester, Greater Manchester M19 3DD2
£220K02/230.29 mi1, Harwich Close, Manchester, Greater Manchester M19 3EZ2
£145K04/240.3 mi12, Sullivan Street, Manchester, Greater Manchester M12 4WS2
£191.5K06/230.31 mi7, Emley Street, Manchester, Greater Manchester M19 3BZ2
£140K04/210.32 mi28, Dunstable Street, Manchester, Greater Manchester M19 3BU2
£210K02/210.32 mi40, Dunstable Street, Manchester, Greater Manchester M19 3BU2
£248K06/230.34 mi31, Montreal Street, Manchester, Greater Manchester M19 3BY2
£222K04/230.34 mi36, Montreal Street, Manchester, Greater Manchester M19 3BY2
£110K01/210.35 mi19, Grasmere Street, Manchester, Greater Manchester M12 5TE2
£150K04/230.35 mi19, Grasmere Street, Manchester, Greater Manchester M12 5TE2
£100K03/210.35 mi14, Grasmere Street, Manchester, Greater Manchester M12 5TE2
£243K12/230.35 mi47, Hornbeam Road, Manchester, Greater Manchester M19 3EN2
£241.3K07/230.35 mi41, Hornbeam Road, Manchester, Greater Manchester M19 3EN2
£153K04/210.35 mi5, Hornbeam Road, Manchester, Greater Manchester M19 3EN2
£230K10/230.36 mi139, Barlow Road, Levenshulme, Manchester, Greater Manchester M19 3FF2
£110K09/220.36 mi16, Grasmere Street, Manchester, Greater Manchester M12 5TE2
£143K01/230.36 mi13, Grasmere Street, Manchester, Greater Manchester M12 5TE2
£212K10/230.37 mi34, Hornbeam Road, Manchester, Greater Manchester M19 3EW2

Local Rents

50 rents from £699/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,09506/240.1 miDelafield Avenue, Manchester, M122
£1,00005/240.15 miAgnes Street, Levenshulme, Manchester, M192
£1,20012/240.16 mi-2
£1,20012/240.16 mi-2
£1,09505/240.17 miDamien Street, Manchester, M122
£1,00003/250.22 mi-2
£1,20001/250.24 mi-2
£1,20002/250.24 mi-2
£1,25012/240.26 mi-2
£1,09504/250.26 mi-2
£85005/240.31 mi4 Farmside Place, Levenshulme2
£1,19505/240.32 miBickerdike Avenue, Manchester, M122
£1,00006/240.32 mi-2
£77512/240.32 mi-2
£77512/240.32 mi-2
£69912/240.32 mi-2
£69912/240.32 mi-2
£85012/240.32 mi-2
£80012/240.32 mi-2
£69912/240.32 mi-2
£69912/240.32 mi-2
£69912/240.34 mi-2
£77504/250.34 mi-2
£1,05004/250.35 mi-2
£1,25005/240.35 mi-2
£1,20005/240.35 miGrasmere Street, Longsight2
£1,27505/240.36 miAlbert Road, Manchester, Greater Manchester, M192
£99505/240.36 miGrasmere Street, Longsight, Manchester, M122
£1,00002/250.36 mi-2
£1,09506/240.36 miGrasmere Street, Manchester, M122
£1,32505/240.36 miAlbert Road, Levenshulme, M19 2FP2
£1,05005/240.36 miGrasmere Street, Manchester, M122
£97512/240.37 mi-2
£1,09505/240.39 miSantley Street, Manchester, M122
£99505/240.4 miGuildford Road, Levenshulme2
£72012/240.43 mi-2
£72012/240.43 mi-2
£1,10004/250.43 mi-2
£1,09502/240.43 mi-2
£95005/240.44 mi1 Kingsway, Manchester, M192
£1,05005/240.44 miSherrington Street, Manchester, Greater Manchester, M122
£1,00012/240.44 mi-2
£1,20005/240.45 miManor Road, Manchester2
£1,09505/240.45 miRatcliffe Street, Manchester, M192
£1,20006/240.45 miMackenzie Street, Manchester, M122
£1,15012/240.45 mi-2
£1,20002/250.46 mi-2
£1,15012/240.49 mi-2
£1,40005/240.5 mi-2
£1,40005/240.5 miTotland Close, Manchester, M122

Local Area Statistics

Population in M12

15,739

Population in Manchester

920,095

Town centre distance

2.38 miles away

Nearest school

0.20 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+22%

Sales demand

Seller's market

Capital growth (5yrs)

+39%

Property History

Listed for £185,000

February 7, 2025

Floor Plans

Description

  • Open plan living +
  • Modern Kitchen +
  • Modern Bathroom +
  • excellent transport links +
  • On the edge of Levenshulme and Longsight +
  • No chain +

This well-presented two-bedroom mid-terrace property on Pennington Street offers modern living in a central location, perfect for investors or first-time buyers. With the kitchen and bathroom undergoing renovation just 18 months ago, the home is in move-in condition and is well finished throughout. Located where Levenshulme meets Longisght, the property benefits from excellent local amenities, schools, and public transport links, ensuring it remains a highly desirable location. The property has a strong rental history, with tenants who have taken great care of the house. But, would also be perfect for first-time buying professionals and small families. Upon entering, you'll be welcomed into the open-plan reception and kitchen area, creating a bright and airy space perfect for both relaxing and entertaining. The kitchen, updated to a high standard, features modern fixtures and fittings, and the property benefits from a boiler installed at the time of renovation. Upstairs, you'll find two well-proportioned bedrooms, both with new carpets laid 18 months ago, ensuring a comfortable and cozy atmosphere. The bathroom has also been tastefully updated, offering a fresh and light design. With its recent renovations, this property is ready to be enjoyed with minimal work required, making it an excellent opportunity for those seeking a property ready to move into or someone looking for a great investment.

Agent Details

Edward Mellor Ltd, Levenshulme

0161 524 5302

Next Steps?

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